The Irish sleeping aids market increased by 6% in current value terms in 2012, to reach €5 million.
The continuing increase in demand for products was an attempt not only to help relieve sleeplessness and insomnia, but also to encourage a more general feeling of relaxation, in an effort to cope with the overwhelming negativity that currently pervades the Irish psyche.
As a further consequence of financial austerity and increased interest in health and wellness issues, Irish people were far less likely to use alcohol as a means to achieve sleep and relaxation than they would have been in the past.
The majority of products are sold through chemists/pharmacies and healthfood shops, where discounting and promotional activity remained at minimal levels. There was some evidence of flash discounting at the distributor level, with some discounted multipack offerings also visible in an effort to encourage volume sales and to increase interest in additional products.
The majority of calming and sleeping products in the Irish market are considered herbal/traditional, with Sominex being the only non-herbal products. Whilst a large number of Irish people will obtain sleeping aids on prescription from their GP, it is likely that they will have been advised to use herbal over the counter products in the first instance.
Bach Flower Remedies led calming and sleeping with a 27% value share in 2012 with the Bach Rescue brand. Chefaro Ireland held second position, with the Natracalm and Natrasleep brand ranges accounting for a 24% combined share. Kalms, distributed by Kelkin in Ireland, achieved an 18% value share in 2012.
According to a recently published report, 'Calming and Sleeping in Ireland,' the Irish sleeping aids market is expected to see a constant value compound annual growth rate (CAGR) of 3% to 2017.
It is likely that Irish consumers will continue to feel that increased levels of stress are affecting their daily lives and sleep patterns for some time to come, as economic conditions remain unfavourable. Increased interest in herbal and natural products is expected to have a further positive impact.
Value for money will continue to be an important factor in consumers' decision-making process for some time to come, as will efficacy. The increasing number of products available at lower prices is expected to further drive prices downwards, resulting in lower rates of growth than those witnessed over the past few years.
For more information on the Irish sleeping aids market, see the latest research: Sleeping Aids Market Research
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