Sleep Mask Market To Hit Value $18.6 Million By 2025 |Grand View Research, Inc. in Web marketing

  • Jan. 8, 2021, 5:58 p.m.
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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 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.

The clothing, footwear, & accessories industry is anticipated to witness checkered growth throughout 2020, as a result of the unprecedented supply chain disruptions caused by the COVID-19 outbreak worldwide. The expected decline in the global sales of clothing, footwear, & accessories is attributable to massive supply chain disruptions across significant export markets, including China and India. However, the industry is likely to recover over the forecast timeframe, given the rising popularity of online/e-commerce sales. From a manufacturing standpoint, the sustainable or ethical fashion trend is expected to favor market growth throughout the forecast timeframe. Luxury apparel is another lucrative space for prospective manufacturers to target, given the mushrooming number of affluent and fashion-conscious consumers across the globe. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.

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.

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.

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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.

Sleep Mask Market Report Highlights

Offline channels dominated the market, contributing to 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 to witness the fastest market growth, at a CAGR of 5.9% from 2019 to 2025. The growing tourism industry in China, India, Sri Lanka, and the 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 the online channel is expected to exhibit a CAGR of 4.9% from 2019 to 2025
Contoured masks are expected to exhibit the fastest market growth at a CAGR of 4.6% from 2019 to 2025, as they provide complete darkness and space for eyelash and eyelids.
The global sleep mask market size was valued at USD 14.0 million in 2018. The growing travel and tourism industry is expected to be a key driver promoting market growth, as the product has been gaining traction among travelers for ensuring healthy sleep during long journeys. Furthermore, the rising number of people suffering from sleep apnea on a global level is expected to expand the scope of sleep masks in the upcoming years.

According to the World Tourism Organization (WTO), the number of people traveling abroad reached 1.4 billion in 2018, which was 6.0% higher than in 2017. Tourism accounts for a significant share of the global GDP. One of the key reasons behind the growth of the travel and tourism sector is the development of the aviation route. France, Spain, the U.S., Italy, the U.K., and China are the most visited nations in the world. However, cities including Mexico, Moscow, Riyadh, Manila, Delhi, and Istanbul have the potential to grow in the upcoming years.

The increasing urban middle-class population in developing countries including Brazil, China, India, and Russia has been raising the number of new domestic travelers. This growth of the travel and tourism industry has been fueling the number of long hour journeys by individuals across the world. Manufacturers in this industry have been designing masks exclusively for travelers. Companies including LC Industries, Inc.; HappyLuxe; and LumosTech, Inc. have introduced products, which are solely designed for tourists. Lightweight cotton or silk masks are expected to remain the ideal choices for traveling.

Furthermore, the increased number of people having sleeping disorders as a result of a hectic lifestyle and fluctuating climate patterns has promoted the utility of sleep masks around the world. A large number of people in the U.S., the U.K., Canada, Ireland, France, Poland, Spain, Italy, Turkey, Singapore, Indonesia, China, and India have been suffering from this illness. This trend has widened the opportunity for sleep masks in these nations. Furthermore, over the past few years, people have been opting for an alternative natural remedy for this illness. As a result, the therapeutic masks are expected to tap new markets in the near future.

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The industry is highly fragmented with a large number of small and regional players. The key manufacturers in this industry include Dream Essentials, LLC; Sleep Master; LC Industries, Inc.; Alaska Bear; HappyLuxe; Sonoma Lavender Co.; Earth Therapeutics; LumosTech, Inc.; EcoTools; Bedtime Bliss; Nidra Goods; PrettyCare; and Napiform. New players have been entering the market considering the potential demand for the product. For instance, in October 2019, Xiaomi Corporation launched its Easy Air Brain Wave Sleeping Eye Mask. This sleeping assistant will capture the buyer’s brain waves and synthesize music that will assist the user to sleep.

Regular sleep masks dominated the sleep mask market, with more than 60% of the global revenue in 2018. These products create a perfectly dark environment and shield eyes from all sources of light including lamp, television, laptop, and natural lights, along with providing sound sleep to consumers. Regular masks are convenient to carry, as they do not take much space in luggage.

Grand View Research has segmented the global sleep mask market on the basis of product, distribution channel:

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
About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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