Sleep Mask Market Size Worth $18.6 Million By 2025 | CAGR: 4.2%

Posted July 31, 2020 by sitakant

The global sleep mask market size is expected to reach USD 18.6 million by 2025

The global sleep mask market size is expected to reach USD 18.6 million by 2025, expanding at a CAGR of 4.2%, according to a new report by Grand View Research, Inc. The rising prevalence of sleeping disorders on account of fluctuating climate patterns and hectic lifestyle is expected to expand market scope. For instance, the people in U.S., Canada, U.K., Ireland, France, Italy, Turkey, Singapore, China, Indonesia, and India often suffer from this disorder. Furthermore, the progress of the travel and tourism industry on a global level has been contributing to the growth of the market. The product has gained significant importance among travelers as it assists to induce sleep during long travel hours. Over the past few years, the number of international travelers has grown considerably. Increasing penetration of economical flights along with rising purchasing power of consumers has been supporting this growth.
Asia Pacific is projected to witness a CAGR of over 5.0% from 2019 to 2025. The development of the tourism industry has been fueling demand for the product in countries including China, India, Indonesia, Vietnam, and Philippines. Osaka, Chengdu, and Colombo are the fastest growing tourist destinations in this region. Rising number of middle-class population has fastened the growth of the tourism industry in Asia Pacific. This development is expected to create an opportunity for the product in the near future.
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In terms of distribution channels, the online segment is expected to expand at the fastest growth rate, growing at a CAGR of 4.9% from 2019 to 2025. The constant advancements in the e-commerce industry such as multiple payment options, hassle-free delivery, and easy return policy, have been boosting the online sale of the product. In addition, increasing penetration of smartphones and online retailers in the emerging nations of this region is anticipated to augment the growth of this distribution channel in the near future. Manufacturers have been emphasizing on e-commerce to expand their reach. For instance, in June 2019, Earth Therapeutics introduced a new website in order to improve consumers’ shopping experience.
The key sleep mask manufacturers include Dream Essentials, LLC; Alaska Bear; Sleep Master; LC Industries, Inc.; HappyLuxe; Earth Therapeutics; Sonoma Lavender Co.; LumosTech, Inc.; Nidra Goods; EcoTools; Bedtime Bliss; Napiform; and PrettyCare. The companies including LC Industries, Inc.; HappyLuxe; and LumosTech, Inc. have product portfolio, which exclusively caters to the travel and tourism industry.
Sleep Mask Market Report Highlights
• Offline channels dominated the market, contributing over 75.0% of the global revenue in 2018 as they provide a choice of physical verification prior to any purchase
• Asia Pacific is expected witness fastest market growth, at a CAGR of 5.9% from 2019 to 2025. The growing tourism industry in China, India, Sri Lanka, and Maldives is expected to prompt the hotel owners to increase spending on various consumables including sleep masks
• North America dominated the market in 2018, accounting for more than 60.0% share of the global sleep mask market revenue
• The market revenue from online channel is expected exhibit a CAGR of 4.9% from 2019 to 2025
• Contoured masks are expected to exhibit fastest market growth, at a CAGR of 4.6% from 2019 to 2025, as they provide complete darkness and space for eyelash and eye lids.
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Sleep Mask Market Segmentation
Grand View Research has segmented the global sleep mask market on the basis of product, distribution channel, and region:
Sleep Mask Product Outlook (Revenue, USD ‘000, 2015 - 2025)
• Regular
• Contoured
• Wrap Around
• Others
Sleep Mask Distribution Channel Outlook (Revenue, USD ‘000, 2015 - 2025)
• Offline
• Online
Sleep Mask Regional Outlook (Revenue, USD ‘000, 2015 - 2025)
• North America
o U.S.
• Europe
o Germany
o U.K.
• Asia Pacific
o China
o Japan
• Central & South America
o Brazil
• Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Issued By sitakant
Country United States
Categories Business , Industry , Manufacturing
Tags Sleep Mask Market Size
Last Updated July 31, 2020