PUBLISHER: Grand View Research | PRODUCT CODE: 1611118
PUBLISHER: Grand View Research | PRODUCT CODE: 1611118
The global sleep mask market size is estimated to reach USD 24.1 million by 2030, registering to grow at a CAGR of 5.1% from 2025 to 2030 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 the market scope. For instance, people in the U.S., Canada, the U.K., Ireland, France, Italy, Turkey, Singapore, China, Indonesia, and India often suffer from such disorders. 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 in inducing 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 the 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 the Philippines. Osaka, Chengdu, and Colombo are the fastest growing tourist destinations in this region. The 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 product growth in the near future.
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 portfolios that exclusively cater to the travel and tourism industry.