A growing number of individuals are having sleeping disorders on account of a hectic lifestyle and changing climate patterns has endorsed the utility of sleep masks throughout the globe. Several people in developed, as well as the developing regions such as the U.S., Canada, the U.K., Ireland, Poland, France, Spain, Turkey, Italy, India, China, Indonesia, and Singapore, have been suffering from this illness. This trend has widened the opportunity for these sleep masks in these nations. Moreover, in previous years, people are opting for a substitute natural remedy for this illness. Consequently, the therapeutic masks are projected to tap new markets over the years to come.
Sleep Masks Market – Key Trends
According to the WTTC (World Travel & Tourism Council) and development statistics of the travel and tourism market reflects that the market contributed US$ 8.8 Tn to world GDP, accounting for a 10.4% market share. Sleeping masks amid air travel help travelers to sleep peacefully and comfortably amid the journey. Manufacturers such as Dream Essentials LLC launched Escape Travel Sleep Mask. The market is an entirely adjustable strap with 100% light blocking for relaxing and effective sleep. The product is accessible with a carry pouch and free earplugs.
Novel job types are dominant in the market with the growth in industrialization and rise in economic activity that provides workers to work in night shifts. Business Process Outsourcing (BPO) professionals Nurses, and other night shift and 24x7 workers who often require to work at night and sleep amid the day from time to time face sleep disorders. Eye masks or sleep masks are extensively utilized by nurses 24x7 workers and other night shift and to sleep well and sleep faster amid the day time. Therefore, an increasing number of late-night workers across the globe is limiting to an increase in sleep masks sale.
Sleep Masks Market – Growth Restraints
Sleep masks necessitate repeated wash as well as frequent cleaning, which may cause the materials to damage rapidly. A reduced amount of service life of these masks is likely to hamper growth during the forecast period. Usually, masks associated with higher cost points have longer lifespans than those with a lesser price due to the use of better material amid production. The price rise can influence the sales of sleep masks negatively.
COVID-19 Impact on Sleep Masks Market
The COVID-19 pandemic is having an immense impact on several sectors and the sleep masks industry is no exception. The disorder in raw material availability and supply chains has to lead the market towards economic uncertainties. Companies are focusing to shift towards online platforms to endure their revenue pool.
The crisis is escalating the need for the digital transformation as businesses and governments attempt to offer daily connectivity and essentials to affected communities. The online platform also removes obstacles for small businesses to swell, offering masks at better quality and delivery at a lower cost. While the outbreak is influencing consumers buying preferences, the partial lift in lockdowns, globally, the sleep masks market will reflect a robust recovery.
Sleep Masks Market – Region-wise Analysis
North America is securing its dominant positions in the global sleep masks market with a higher market share over the forecast period, trailed by East Asia and Europe. The expansion in the region could be due to rising cases of insomnia and sleep apnea attended by the prevalence of substitute treatments contrary to pharmaceutical drugs with side effects. Moreover, users in the region are broadly opting for physical fitness, meditation, and sleep masks to enhance the symptoms of sleep-related illnesses. South Asia and Oceania provide lucrative prospects for market participants to leverage demand from the rising millennial population.
Sleep Masks Market – Competitive Analysis
The sleep masks market is highly fragmented with a huge number of regional and local players. Market incumbents are entering the market seeing the potential requirement for the product. For instance,
LumosTech launched smart sleeping masks that could be paired with mobile apps. Consumers can select the time and kind of sleep they desire and the smart sleep mask aids them to get accurately the sleep they require.
Xiaomi Corp. introduced Easy Air Brain Wave Sleeping Eye Mask, which will capture the consumer’s brain waves and play music which will assist the consumer to sleep.
A popular brand of P&G, Olay, launched of Olay Hydrating Overnight Gel Mask, comprising honeysuckle extract and Vitamin E, which offers nourishment to the skin.
The foremost companies operating in the sleep masks market include Sleep Master, Dream Essentials, LLC, Alaska Bear, LC Industries, Inc., HappyLuxe, Earth Therapeutics, Sonoma Lavender Co., LumosTech, Inc., Bedtime Bliss, EcoTools, Nidra Goods, Napiform, and PrettyCare.
Global Sleep Masks Market: Market Segmentation
In terms of product type, the global sleep masks market has been segmented as –
In terms of the distribution channel, the global sleep masks market has been segmented as –
In terms of the consumer group, the global sleep masks market has been segmented as –
Global Sleep Masks Market: Key Players (this is an indicative list – full list of key players available upon request)
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.