Global sleep aid supplement market to reach $11.8 billion by 2034

The India-based market research company projected that the sleep aid supplement industry will experience remarkable growth, with a global market value advancing at a compound annual growth rate (CAGR) of 5.1% to reach $11.8 billion by 2034. 

This growing interest is mirrored by a boom in accessibility through online and retail distribution channels, significantly expanding market opportunities. 

Key factors fueling market growth​ ​

Increasing consumer awareness regarding the importance of sleep for overall health is a major catalyst for market growth, according to the report. Insufficient sleep, exacerbated by modern stressors such as work-life imbalance and technology-induced disruptions, has led many to seek effective and natural sleep aids.

"[The] fast-paced nature of modern life has resulted in a global rise in sleep disorders, such as insomnia, driving demand for sleep supplements,” the report reads. It highlights valerian root, chamomile and melatonin supplements that align with a consumer interest in holistic health and non-habit-forming, natural plant-based solutions as safer alternatives to pharmaceutical solutions.

Rick Miller, associate director of specialized nutrition at Mintel, recently noted that sleep has become a key trend for those seeking holistic health​ solutions. 

He affirmed that there is a widespread issue of insufficient sleep and stress in modern life, underscoring the consumer demand for stress reduction products and innovative products that can enhance sleep quality

yet he stressed there are note a great range of solutions on the market. 

“When it comes to sleep and stress reduction in food, drink and supplementation, new launches are still pretty low, despite most of our consumers stating that this is the number one thing that they want to improve,” he said. 

"The main ingredient coming through is melatonin, which is known for its potential benefits in improving sleep onset and quality. However, some consumers may experience side effects. As a result, there's a trend towards developing new sleep products that are free of melatonin.” 

According to the Allied Market Research report, the U.S. dominates the sleep aid supplements market, driven by a high prevalence of sleep disorders such as insomnia and sleep apnea. This strong market position, the paper noted, is bolstered by rising aging populations and stress levels in North America, as well as strong consumer health awareness, high healthcare expenditure and a robust presence of key market players.

Key ingredients driving the U.S. market include ashwagandha, GABA, magnesium, 5-HTP, kava and theanine, according to market data for the 52 weeks ending July 14, 2024 from insights firm SPINS, which tracks data across multi outlet and natural retail channels in the United States. Many consumers are seeking to understand ashwagandha benefits and magnesium uses through purchasing supplements.

As Scott Dicker, senior director of market insights at the firm, told NutraIngredients-USA​, magnesium and theanine are seeing significant growth due to their versatility and ability to support both relaxation and energy balance. Mushroom-based supplements, such as reishi, chaga and lion’s mane, are also gaining traction due to their stress-relieving and immune-boosting properties.

Dicker explained that manufacturers are increasingly developing combination formulas to address stress alongside sleep and cognitive support by formulating cognitive support supplements, ​emphasizing the importance of adaptogens and innovative product formats. 

In Europe, magnesium continues to maintain its on-trend position due to its versatility, Nick Morgan, managing director of Nutrition Integrated, recently told NutraIngredients​, with many companies utilising magnesium for sleep products and wider uses.

“Magnesium is a really good example of how a mineral that we've known for so long can continue to be exciting when positioned really well,” he said, adding that while it is well-known for sports recovery, it is increasingly gaining attention for sleep and calmness. 

Knowledge gaps​

Researchers from University College London recently reviewed the effectiveness of over-the-counter sleep aids and supplements for treating insomnia​, depression and anxiety, particularly in older adults. They identified limited research in this area, especially among individuals with multiple health conditions, despite the growing use of these products.

Their analysis of 47 trials found the strongest evidence for melatonin in treating insomnia and omega-3 fatty acids for addressing depression. Magnesium and herbal sleep remedies like St. John's Wort also demonstrated positive effects, though less consistently.

The review emphasized major research gaps​, particularly in products targeting anxiety and in older adults with comorbidities.