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DREAM SCENARIOS: A LOOK AT THE SLEEP SOLUTIONS MARKET

April 19, 2021
April 19, 2021
Anna Danilina via Unsplash

Whether it’s coronasomnia or long-term disorders, for a majority of the population, sleep isn’t quite so simple as shutting your eyes. Neurologists and neuroscientists such as Matthew Walker (Why We Sleep) and Guy Leschziner (The Nocturnal Brain) have explored the science of sleep and packaged their findings in consumer-friendly formats in a bid to demystify our snoozing states. The sleep aids market is projected to reach $114 billion by 2025, while Forbes proclaimed that we are facing the dawn of a sleep revolution.

Where herbal tea or melatonin supplements don’t cut it, tech start-ups and supplement producers have stepped in, with impressive funding to match. Subscription-based sleep wellness brand Proper, which combines supplements with individual sleep coaching and assessments, recently raised $9.5 million. Kryo, the parent company of the ChiliSleep brand, which employs temperature control for a better night’s sleep, secured a further $37 million in funding. Bryte’s AI-powered, in-bed sleep experience optimizer closed a $24 million Series A round. “From immunity and recovery to mental health and physical performance, restorative sleep is the foundation of health and wellness,” comments Dr. Matthew Walker, Director of the UC Berkeley Center for Human Sleep Science, who also serves on Bryte’s advisory board.

It’s not just a more holistic approach to wellness that is driving this growth. The increasing sleep issues as a result of the pandemic have also pushed the market forward. In a recent lockdown survey, half of the UK population reported that their sleep was more disturbed than usual, and 57.1% of survey participants in an Italian study reported poor sleep quality. As we are becoming more digitally driven than ever, these sleep issues are likely to continue.

Aside from blue-light blockers for tech devices like those by Ocushield, which stop the disruptive emission that interferes with natural circadian rhythms by disturbing the body’s melatonin production, other devices and supplements are promising to help our nocturnal troubles. Sandland Sleep, a line of CBN sleep-aid products, launched in April of this year with Fall Asleep and Stay Asleep supplements. Pink Cloud Beauty Co. offers Relax vitamins containing chamomile and lemon balm extract to help unwind. Morphée is a key-activated sleeping device that offers users guided relaxation techniques ranging from body scans to breathing exercises, without needing to turn to a digital screen. Citizen launched Sensory Time, a clock which diffuses a lavender scent for nighttime and a citrus scent for mornings to help on both sides of the equation.

Ultimately, efficacy and brand reach will be the true test of who rises to the top and who gets lost in the mix. The old adage goes “you snooze, you lose,” but in this case, a bit of shut-eye actually separates the success stories from the failures.

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