Sleep Mask Market Promises 1.5x Growth; Opportunities Abound in Tech-enabled Offerings, Opines Fact.MR
Published : 11 Feb 2020 Industry: Consumer Goods
Amidst increasing cases of sleep apnea and insomnia, the global sleep mask market is growing at a CAGR of more than 3.5% between 2019 and 2029. The market is getting tailwinds from changing consumer trends that favor alternative techniques to cure sleep related diseases. Sleep masks offer an ideal way to battle sleep related ailments. With research and development in material, design, and comfort features, manufacturers are differentiating products in a highly competitive market. Market players are mining opportunities in luxury travel segment and medical treatments of sleep diseases by forging strategic partnerships with travelling service providers and sleep science professionals.
Key Takeaways of Global Sleep Mask study
- Regular sleep masks are projected to grow 1.5X during the forecast period. This is closely followed by contour sleep masks. On the other hand, wrap-around sleep masks are offering lucrative opportunities for leading stakeholders in the market
- Offline channels of distribution are set to capture 75% market share. Online channels of distribution show healthy growth opportunities with 1.6 X gains through 2029.
- North America holds majority of market share, the region will 1.3X growth during the forecast period. This is followed by Europe and East Asian countries where consumer awareness about importance of sleep is driving sleep mask adoption.
“Sleep masks are soaring in popularity among consumers who are undertaking long distance travel. Increasing penetration of economical flights along with the significantly growing tour and travel industry is propelling growth in sleep mask market. Cohesive economic and consumer trends are leading the market towards a profitable future.” Says the Fact MR Analyst
Growing Awareness of Sleeping Habits Drive Sleep Mask Adoption
A major factor influencing growth is development of skin friendly material, smart technologies, and products that are designed to cater to a wide range of consumer needs. Medical community is of the opinion that sleep masks can enable consumers to develop healthy sleep cycles for sleep deprived consumers. Side effects of sleep medication also play an important role in mass-adoption of sleep masks during the forecast period.
Smart sleep mask technologies such as IOT sleep masks and REM sleep masks are garnering a lot og consumer traction. For instance, IoT sleep masks can switch on/off lights and control room temperature based on sleep data of the user. Similarly, smart sleep masks emit a dim orange light that induces melatonin production to help consumers fall asleep naturally. Scientists and R & D departments are developing sleep mask technology that promotes health.
Find More Valuable Insights on Sleep Mask Market
Fact.MR, in its new offering, provides an in-depth analysis of the global sleep mask market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2029. The study provides readers with compelling insights on the global sleep mask market on the basis of product type (Regular, Contoured, Wrap around, and Others), distribution channels (offline and online), and regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
About the Retail and Consumer Goods Division at Fact.MR
As a consortium of a large number of sub-industries, few market research companies are capable of fulfilling the requirements of consumer product clients. Retail and consumer goods analysts at Fact.MR have been categorically tracking the broader sub-industries to keep themselves abreast of the recent happenings in the market. Our practical approach to product design and pricing strategy contributes to the growth of businesses that are struggling to hit the ‘move-the-needle’ bottom line. With unmatched analytical diligence, the team at Fact.MR helps organizations design product differentiation strategies and introduce exclusive product(s) to their existing portfolio. For more insights on retail domain, visit here.