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6 Things to Know About the Sleep Market
Sleep is finally becoming as revered and respected as it should be. While the days of sacrificing it to get more done are certainly not yet over, we are realizing just how detrimental foregoing it is, and how much of a positive impact a good night’s sleep can have on our entire life.
With that knowledge comes the expansion of the sleep market – because we wouldn’t be human if there wasn’t a product out there to answer our every need, would we?
Here are the most important things you need to know about the sleep market:
It is growing and growing
The sleep aids market in the United States was worth an estimated $28.6 billion three years ago, and it is expected to see an annual 4.7% growth in the next three.
In other words, there are more and more sleep-related products on the market, users realize how important investing in their sleep is, and they are getting smarter and more educated about what they want from a product.
The choices are limitless
An amazing feature of the sleep market is just how much it strives to cater to every taste imaginable. A couple of decades ago, you could essentially buy two different kinds of mattresses. Today, you can choose from literally hundreds of options.
Memory foam mattresses are increasingly popular, and they come in all sorts of densities, styles, and sizes. The materials that go into their manufacturing are also varied and can accommodate different allergies and sleep needs.
Solutions are becoming more accessible
While you previously had to go down to a local department store to buy a bed, a mattress, or even a pillow, today, you can order one from the other side of the globe.
The advancements in technology and transportation we are witnessing have made all kinds of sleep products more accessible to a wider range of users. For example, memory foam pillows or travel pillows are no longer an oddity or even the expense they once were.
Companies are increasingly using science and cold hard facts to design and market their products. As we learn more and more about the way we sleep, and how different factors impact our rest, the big (and even not so big) players in the sleep industry are using this data for our good.
There are mattresses that regulate heat and comfort levels, devices that track your sleep cycle and emit soothing sounds to help you sleep better, aromatherapy products that can help you fall asleep, and so on.
Behind most of the latest sleep products out there, there is scientific research to hold up its usefulness, which was not the case a few short decades ago.
Customization is welcome
Personalization and a focus on individuals rather than the masses is a trend we have been seeing in business and marketing alike for years, and the same trend can be noticed in the sleep industry.
Instead of purchasing an item (any item, for that matter) off the rack, you now have the luxury of choosing the fabrics, colors, patterns, and a plethora of other aspects of a lot of sleep products. In short, you can now design the ultimate good night’s rest for yourself, enjoying a completely bespoke service and experience.
Technology at the forefront
There is more to sleep today than a bed frame and a good mattress. In fact, sleep tech is one of the fastest-growing sleep market niches, and it is abundant in innovation and clever solutions.
There is a product out there that can help out with most sleep challenges we face. For instance, you can get lights that go brighter or dimmer depending on your sleep cycle. There are noise-canceling earbuds that can help you fall asleep and stay asleep, no matter how noisy it gets around you.
There are apps that emit soothing sounds and light, which are designed specifically to send you off to deep sleep and impact your sleep cycle in the most positive way. There are apps that track how you sleep and wake you up at the best possible moment.
There are also nearly intelligent pillows and mattresses, but your phone alone is often enough to offer most of what you need for a technologically advanced night of rest.
Sleep is finally arriving at the forefront of innovation and being explored as extensively as it should be. After all, it is one of the most important (if not the most important) pillars of health. As we turn to embrace it even more, the sleep industry is expected to thrive even further.
This article does not necessarily reflect the opinions of the editors or management of EconoTimes.