Sleep is an essential yet often overlooked aspect of our lives. In particular, the number of individuals suffering from sleep disorders in South Korea has been increasing by an average of 6.5% annually, making sleep deprivation an increasingly prevalent issue in modern society. As a result, there is a growing demand for quality sleep to maintain personal health. Furthermore, sufficient sleep is now recognized not only as a means of alleviating fatigue but also as a crucial factor in maintaining physical and mental well-being. In a society marked by excessive work and stress, irregular daily rhythms, and the need for recovery, the importance of restorative sleep is being increasingly emphasized. Consequently, various methods and products designed to improve sleep have gained attention, and the sleep market continues to expand.
Unlocking Better Sleep
Furthermore, the sleep industry has grown so significantly that it has given rise to the term “SleepTech,” a blend of “sleep” and “technology,” which reflects the solving insomnia based on technology. Various products aimed at enhancing sleep quality—such as pillows, mattresses, and smartwatches—are continually being introduced, and many consumers are more than willing to invest in quality sleep. This trend has even led to the term “Sleeponomics,” highlighting the economic value people place on restful sleep.
Sleep Solutions: The Rise of Functional Foods
Accordingly, the sleep industry is seeing impressive growth, with an annual growth rate of 5.2% globally and 25.1% domestically. Therefore, the market for functional foods that can be used sustainably is also likely to expand. In particular, as awareness of the need for sleep cares increases, many consumers will naturally become interested in sleep health functional foods. This is a factor that promotes the mutual growth of related markets as sleep solutions such as sleep technology or products and sleep health functional foods work in a complementary manner.
Especially, melatonin, which is recognized by consumers as the image of sleep, has recently been developed as a plant-derived melatonin raw material. In addition, the commercialization of individually approved raw materials such as GABA or Ashwagandha is likely to contribute to an increase in the market share of functional health functional foods. In other words, as interest in sleep health increases, products containing scientifically verified functional ingredients such as GABA and Ashwagandha will be able to further promote the growth of the health functional food market that helps with deep sleep.
Today, the sleep market has evolved beyond just providing rest, becoming a significant wellness industry focused on systematic management and health enhancement. A range of services, products, and health supplements offer new possibilities and the potential to improve quality of life. Kolmar BNH will grow into an essential ODM that can support the healthy lives of consumers.
The Latest Case Study & Trends
Analysis of Health Supplements Consumption in South Korea, First Half of 2024
