Office worker Kim Eh Ra was startled to realize that the amount of money she spent on a good night's sleep had increased continuously over the past few months.
The 30-year-old girl said that the first thing she bought was an essential oil diffuser for 10,000 won (over 185,000 VND), but then the value gradually increased, from supplements such as melatonin gummies and magnesium tablets, and most recently a pillow for more than 300,000 won (nearly 5.6 million VND).
The female employees' sleep expenditures are similar to those of many other Koreans. According to a report by KB Financial, the market for sleep products has increased more than sixfold to 3 trillion won from 2011 to 2021. The market is expected to reach more than 40 trillion won by 2026, with the country's sleep deprivation being particularly severe compared to the OECD average.
Citing 2021 OECD data, KB Financial found that the average sleep time of South Koreans is 471 minutes per day, 30 minutes less than the average of OECD countries. Among major economies, South Koreans only slightly exceed the Japanese (442 minutes). The average British person sleeps 508 minutes, while Australians sleep 512 minutes, Americans sleep 531 minutes, and Chinese people sleep 541 minutes.
South Koreans also have poor sleep quality. Of 13,000 people in 13 countries surveyed by technology company Philips, an average of 55% said they were satisfied with their sleep. In South Korea, however, the figure was only 41%.
The top factors that disrupt sleep are stress (55%), bedroom conditions (40%), insomnia and work habits (37%), excessive leisure (36%), health conditions (32%), snoring (29%). The number of patients with sleep disorders in 2022 is expected to be 1.09 million, nearly doubling from 588,000 in 2018.
The report predicts that the sleep market will continue to grow with the participation of high-tech companies, financial companies... previously unrelated to the market.
Huy Phuong (According to Korea Times )
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