Don’t Snooze on It: Why the Sleep Industry Could Be the Next Mindfulness Revolution
It’s widely known that sleep is important, yet somehow this essential restoration period is often de-prioritized. Whether it’s because people struggle to snooze, would rather get a little less sleep to do a little more of X, or they’re just not educated on how destructive a lack of sleep can be… 35% of adults don’t get enough sleep.
And it’s not just a matter of feeling more tired. Researchers have found that an individual sleeping 6 hours or less has a 13% higher mortality rate, and lack of sleep costs the United States $411B each year. For those and other reasons, the CDC has identified sleep disorders as a public health epidemic.
How We Sleep, a 2017 New York Times bestseller, has helped fuel an important conversation about the science of sleep, including how a lack of sleep can contribute to serious short- and long-term impairments, such as diabetes and Alzheimer’s.
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Don’t press snooze on this opportunity: sleep supplements
The signal: As meditation becomes mainstream, people may be surprised to find that searches for sleep apps double their meditation counterpart. As people invest in getting a better night’s rest, there’s opportunity abound, including physical products like weighted blankets or premium PJs, supplements, popular insomnia drugs having their patents expire, companies paying their employees to sleep better, marketing for sleep specialists, or online sleep education (ex: sleep apnea test has 27k searches per month).
The alternative milk market is getting frothy
The signal: As more people wave goodbye to dairy, alternative milk is slowly taking over; it has already cornered 13% of the market. With the exception of soy milk, all of the alt-milks have been on the up, with some of the newer entrants including hemp milk and pea milk. Other alt-products are getting attention, including cashew cheese, with 18100 searches per month.
Capitalizing on the Airpods market, making more money than Shopify
The signal: Since killing the headphone jack, Apple has graced the world with AirPods, which did an estimated 60m units in 2019. That means AirPods alone are bringing in approx ~$10b in revenue, more than Twitter, Shopify, or Spotify, to name a few popular tech giants. Opportunity lies in Apple opening up SiriOS or the wave of iPhone accessories (including cases, cleaning kits, hooks, and keychains) which have shown “hockey stick” growth alongside their hardware predecessor.
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