According to data from iiMedia Research, the market size of China's sleep economy industry reached 495.58 billion yuan in 2023, a year-on-year increase of 8.6%. As the penetration rate of the sleep product market continues to increase and the types of products continue to increase, the size of China's sleep economy market will maintain a growth trend, with an expected market size of 658.68 billion yuan by 2027.

 

Data shows that over 90% of the population often or occasionally experiences sleep quality problems, with shallow sleep and difficulty falling asleep being the main factors affecting sleep quality. In terms of consumer preferences for sleep products, 56.8% of Chinese consumers will choose to purchase home textile products, and 77.8% of consumers are more willing to purchase professional sleep pillows. The consumption content and consumption concept are showing an upgrading trend.

Shanghai Home Expo got information that With the increasing emphasis on sleep health in society as a whole, more intelligent, humane, and professional sleep products are highly praised by many consumers. Due to emotional issues, prolonged use of mobile phones, work pressure, and other reasons, young people have various sleep problems. In addition, their demand for additional product attributes has escalated, and they are more willing to purchase more professional and intelligent sleep aid products to improve sleep quality. In the future, the sleep economy market will further develop towards younger consumer groups and upgraded product consumption.

 

Shanghai Home Expo got information that Sleep economy refers to the demand economy created by people with poor sleep quality or insomnia and other sleep disorders. The sleep disorder referred to here is not strictly defined by psychiatry, but more specifically refers to sleep problems such as insomnia, frequent dreaming, difficulty falling asleep, and poor sleep quality. Sleep economy products can be divided into home based sleep aid products, sleep environment products, sleep aid health products, and AI technology based sleep aid products.

 

In recent years, the National Sleep Index and Sleep Quality Index in China have undergone significant changes. According to data from iMedia Research, the National Sleep Index in 2023 was 62.61, a decrease of 5.16 compared to 2022. The National Sleep Quality Index decreased from 74.22 in 2022 to 66.71, both of which are the lowest in the past three years. The prominent national sleep problem has led to an increasing demand for sleep aid products, bringing new business opportunities to the sleep consumption market.

Shanghai Home Expo got information that In recent years, the cumulative number of patents for sleep related products in China has been increasing, and the scientific, high-quality, and intelligent upgrading of products has brought consumers a more comfortable user experience. Data shows that from 2016 to present, there has been a significant increase in the number of sleep related patents in China, with the highest number of new patents added in 2020 and 2021, with 2734 and 2867 patents respectively. Patents cover sleep monitoring, intelligent sleep equipment, pillows and mattresses, injecting innovative energy and new vitality into the sleep economy market.

 

Data shows that in 2024, 56.8% of consumers will choose to purchase home textile products to help improve sleep quality. Among them, products such as pillows, pillows, and mattresses are the preferred choices for consumers. Against the backdrop of continuous innovation in the industry, sleep pillows have evolved from traditional pillows into a brand new category. From traditional bamboo products, to doll like long strip pillows, and then to scientifically designed sleep pillows with ergonomic shapes, sleep products and functions are constantly enriched.

 

Shanghai Home Expo got information that Data shows that about half of consumers choose to purchase home textile products to help improve sleep quality. Among them, the majority of consumers purchase mattresses (54.8%) and sleeping pillows (50.0%); Consumers who purchase commonly used products such as pillowcases, bed four piece sets, and quilts are also more common, accounting for 46.4%, 45.2%, and 38.0%, respectively.

 

If you want to know more about the industry information and cutting-edge products, China Home Expo, which gathers a lot of furniture brands, is surely the right choice for you. CIFF Shanghai Expo 2024 will be grandly unfolded from September 11 to 14, 2024 at the NATIONAL EXHIBITION AND CONVENTION CENTER (SHANGHAL HONGQIAO).

 

Article source: Snowball

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