Eating and applying for a 'Good Sleep'... Expansion of the 'Sleeponomics' Market

iHerb, Sleep Category Sales Up 45% in One Year

The 'Sleeponomics' market, where consumers open their wallets for a 'good night's sleep,' is growing. According to the Korea Sleep Industry Association, the sleep market, which was around 480 billion KRW in 2011, grew to the 3 trillion KRW range by 2019. As consumer interest and investment in sleep increase, sleep products, which were mainly bedding such as beds and pillows, are diversifying into supplements that aid sleep.

According to iHerb on the 6th, sales in the sleep category in Korea have grown 45% compared to the same period last year. In Korea, sleep supplements containing L-tryptophan, known to help serotonin production?often called the happiness hormone?and anxiety relief, are gaining popularity on iHerb.

Popular sleep supplements containing L-tryptophan sold on iHerb include Now Foods L-Tryptophan, Source Naturals L-Tryptophan, Life Extension Bioactive Milk Peptides, and Doctor's Best TryptoPure L-Tryptophan. These products have shown sales growth rates ranging from at least 85% to as much as 200% over the past 1 to 2 years. Additionally, valerian-containing supplements, known as herbs that aid deep sleep, are also popular products on iHerb.

Domestic products mainly consist of sleep supplements containing 'Lactium,' a protein peptide made by hydrolyzing milk protein. Companies such as Ildong Foodis, Ildong Pharmaceutical, Hanmi Healthcare, and Kwangdong Life Health have entered the domestic sleep supplement market focusing on Lactium ingredients.

iHerb Korea stated, "The U.S. sleep industry market was valued at $44.5 billion (approximately 55 trillion KRW) as of 2020, and with various sleep-related products being launched every year, the range of choices has expanded, leading to increasing orders from Korean consumers. In addition, sales of sleep products such as oils, teas, body lotions, and dental guards, along with supplements, have more than doubled in the past 1 to 2 years, showing growing interest in sleep supplements."

With the growth of the Sleeponomics market, the food and beverage industry is also launching related products one after another. The relaxation drink 'Slow Cow' contains valerian herb extract and L-theanine and is released as a canned carbonated beverage. 'Snooze Sweet Dreams Happy Days,' imported from Austria, is a mixed drink containing herbs that aid deep sleep such as valerian, lemon balm, passionflower, and linden flower. Domestic products include Musca's 'Sleeping Bottle,' among others.

The beauty industry is pioneering the market with the keyword 'sleep beauty.' L'Occitane recently launched the 'Cocoon de Serenit? Relaxing Pillow Mist.' Products that provide sleep benefits, centered around 'sleep packs,' are also being released continuously. Dr. Jart+'s 'Cicapair Sleepair Ampoule In Mask' is gaining popularity.

This content was produced with the assistance of AI translation services.