Global Hangover Cure Products Market - 2022-2029

Global Hangover Cure Products Market - 2022-2029

Market Overview

The global hangover cure products market valued USD xx million in 2021 and is forecast to reach USD xx million by 2029, growing at a CAGR of xx% during the forecast period (2022-2029).

A hangover refers to a stage of symptoms that occur due to drinking too much. Hangovers are very common in people who consume too much alcohol. Researchers found that about 75% of people who drank the night excessively before reported hangover symptoms. The researchers concluded that 25% to 30% of people who drink might be resistant to hangovers. Consumers are becoming increasingly aware of the benefits associated with the consumption of hangover cure products, which help improve metabolism, reduce nausea caused due to excessive alcohol consumption, and hydrate the body. The R&D initiatives undertaken by companies to enhance their product specifications and expand their market reach are expected to further augment the demand for hangover cure products during the forecast period.

Market Dynamics:

Growing awareness regarding hangover cure products boosts the market growth

Growing awareness regarding hangover cure products is expected to increase the demand in upcoming years. Due to rising consumer preference for reducing alcohol consumption and preferring herbal-based products, companies operating in the market are increasingly launching products containing herbal ingredients, such as milk thistle and other plant extracts, which help protect the liver from acetaldehyde and remove toxins from the body. Increasing penetration of cure products and the growing awareness about anti-hangover products worldwide are likely to fuel the market growth during the forecast period. In addition, hangover remedies products include nutritional profile, and the presence of natural ingredients are other important factors affecting consumers' buying decisions. Various herbs and botanicals are gaining traction among consumers. Moreover, product advancement also influences consumers' buying decisions in worldwide countries. Hangover cure products have gained enormous popularity due to the buzz created on social media platforms.

However, high alcohol consumption is rising obesity and other lifestyle-related diseases. Obesity is a common, serious, and costly disease. Consumers are looking to reduce their alcohol consumption and move toward healthier drinks. That could restrict the growth of the alcohol market, which was indirectly hindering the hangover cure products. For instance, as per the Centers for Disease Control and Prevention, obesity prevalence was 42.4% in the US in 2017 – 2018.

Market Segmentation:

The solutions segment held the highest market revenue share of xx% in the year 2021

Based on the product type, the solutions segment held the highest market revenue share of xx% in 2021. It is owing to the increasing consumer preference for herbal and plant-based products. Players operating in the market use ingredients such as ginseng, turmeric, and milk thistle, to manufacture hangover cure products. In addition, with the growing awareness regarding the mild effects associated with allopathic medicines, more consumers, especially millennials, are shifting toward traditional medicines, increasing the demand for herbal solutions. The robust demand for herbal hangover cure solutions is supported by numerous product launches, which is expected to favor the segment growth. For instance, in 2019, Morning Fresh launched a 100% natural detox drink in India, which helps cure hangovers and helps liver functions. The active ingredient in the product benefits liver health.

Based on the distribution channel, the solutions segment held the highest market revenue share of xx% in 2021. Offline distribution channels such as pharmacies and health and wellness centers, supermarkets, hypermarkets, and departmental stores are the major distributors of hangover cure products. To expand their consumer base, most pharmacies are also offering delivery services.

Geographical Penetration:

Asia Pacific is dominating the global hangover cure products market in the year 2021

Asia Pacific dominated the global hangover cure products market and accounted for XX% in 2021. Growing awareness about the benefits of alcohol detox products is expected to drive the market growth in this region. These products include tonics for hangover prevention, providing liver support and restoring essential nutrients. These also help to improve metabolism, reduce nausea caused due to excessive alcohol consumption, help rehydrate, and boost energy. The growing trend of alcohol consumption, particularly wine and beer, among young consumers in countries like China, Japan, India and South Korea is driving the demand for hangover cure products. Key companies in the region are increasing their investments in research and development activities to discover new products. There has also been a rise in government funding for introducing the new hangover cure products market. These factors have benefited the growth of the Asia Pacific market for hangover cure products.

North America is estimated to grow with a CAGR of XX% in the global hangover cure products market, owing to the high consumption of alcohol in the region. According to the 2019 National Survey on Drug Use and Health, in the US, 25.8 percent of people ages 18 and older reported that they engaged in binge drinking during the month of 2019. Moreover, about 7.2 percent of people ages 12 and older who had alcohol use disorder in the past year received any treatment in the past year. These factors influenced the demand for the hangover cure products market.

Competitive Landscape:

Some industry players operating in the Hangover Cure Products market are Rally Patch, LLC, Abbott Laboratories, Rebound Hangover Patch, SmartPatches, D-Tox Hangover Patches, La Mend Inc., Wet Buffalo Patch, Bayer AG, AfterDrink Ltd., and Drinkwel, LLC, among others. Key players in the global market are focusing on strategic investments in research and development to develop new products, particularly with natural, vegan, and organic formulations, which play a key function in expanding their growth in terms of market revenue. For instance, in December 2018, Pedialyte introduced a new product, Sparkling Rush, aimed at hungover adults. It is made for hangover treatment for alcohol drinkers. In August 2019, ZBiotics launched the world's first GMO probiotic product for sale; it's designed to prevent hangovers. In May 2019, Morning Fresh launched a 100% natural detox drink that helps protect the liver and reduce hangovers.

Covid-19 impact:

Positive impact on the global hangover cure products market

Different studies have provided insight into the impact of COVID on the studied market that provides insight into the increased consumption of alcohol during the pandemic. For instance, as per National Center for Drug Abuse Statistics, 60% of people increased their alcohol consumption during COVID-19 lockdowns. Moreover, online liquor sales rose 262% year-over-year in the first 3 weeks of March 2020, coinciding with most state-wide lockdowns, amid the COVID-19 pandemic compared to 2019. From the Eurostat data, among the EU population, almost one in five of those who drink alcohol had an episode of heavy drinking at least once a month. So, the consumption of alcohol increased during the pandemic. Hence, the hangover cure products market increased during the pandemic.

Why Purchase the Report?

Understand the current market scenario and viability of global hangover cure products market over the forecast period

Visualize the composition of the global hangover cure products market in terms of product type and distribution channel to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global hangover cure products market – Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market share analysis covering business revenues ($) and revenue share (%) of key market players

The global hangover cure products market report would provide an access to approximately 53 market data tables, 42 figures, and 180 pages

Target Audience:

Supplements Manufacturers

Alcoholic Beverages Manufacturers

Education & Research Institutes

Research Professionals