Like many people, Canadians have been lacking in sleep for some time. According to Sleep on It Canada, one-third of Canadians sleep fewer hours per night than is recommended. Reviewlution data states that 30% of Canadians suffer from a sleep disorder. Together, these statistics tie Canada with the US as the third most sleep-deprived nation after the UK and Ireland.
A lack of sleep can lead to numerous health problems including weight gain, diabetes, anxiety, depression, and cardiovascular disease. It’s no wonder, then, that many Canadians have developed a keen interest in products designed to enhance their sleep environment, augment natural rhythms, and improve the quality of their rest.
As per the National Post, the global sleep economy – estimated to be USD $432 billion in 2019 – is expected to be worth USD $532 billion by 2026. Fueling that growth are products that include weighted blankets, cooling mattresses, smart lighting, and fitness trackers that monitor sleep quality as well as steps. The weighted blanket market alone (valued at USD $381.44 million this year) is expected to grow with a compound annual growth rage (CAGR) of 14.07% up to 2027. Fitness trackers (which can include sleep-monitoring features) were found in roughly 22% of Canadian households in 2018, and the COVID-19 pandemic has spurred increased demand for these items across all regions. The global fitness tracker market, worth USD $36.34 billion in 2020, is expected to reach USD $114.36 billion in 2028, growing at a CAGR of 15.4%.
Other sleep-enhancing products are gaining traction, from meditation apps to high-tech beds and pillows, and even ‘smart lighting’, such as Toronto-based Nanoleaf’s smart light panels that offer customizable sunrise and sleep modes.
With 35% of the population having trouble falling – and staying – asleep, products and services designed to offer relief – and rest – may be welcomed by weary Canadians.
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