To meet the growing demand for better sleep, a wide range of products has emerged in recent years, with more companies eyeing this market.

"The sleep-aid market has huge potential," Yu said. As an example, he said sales of melatonin products - which induce sleep quickly - in China have seen double-digit growth in recent years, but even so, are used by fewer than 1 percent of Chinese consumers, indicating there is huge scope for business to grow.

The Nature's Bounty Company, a health and wellness business in the United States, has targeted the huge Chinese market. In August, it opened online stores on major e-commerce platforms Tmall and JD to give consumers direct access to its wide range of products without the need to travel overseas.

Charles Yam, the company's managing director for Greater China, said that over the past few years, insomnia has not just been an issue for China but a global problem, including in the United States, which has seen a rapid increase in demand for melatonin products.

The 2008 financial crisis is still having an impact on the US and European economies, while China is also facing some challenges. This will place individuals under more pressure at work, affecting their "sleep health", he said.