Hangover Rehydration Supplements Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Hangover Rehydration Supplements Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Over the next few years, the market for hangover rehydration supplements is expected to grow at a CAGR of 14.2%.

During the initial period of the COVID-19 pandemic, the hangover rehydration supplement market was adversely affected due to supply chain issues. Various studies provided insights into the increased consumption of alcohol during the pandemic, which causes hangovers. For instance, a research study published by Toxicology Reports in March 2021 stated that alcohol consumption during the pandemic in the United States increased by 14% compared to the previous years. This shows the increased consumption of alcohol during the pandemic, which is likely to raise the demand for hangover rehydration supplements and is expected to grow the market. But with the return of supply chain services and the loosening of COVID-19 restrictions, people were expected to drink more alcohol and buy more hangover supplements in the coming months.

Factors such as increasing consumption of alcoholic beverages and increasing awareness about alcoholic detox products are expected to increase market growth in the forecast period. In June 2021, a report published by the WHO in November 2022 stated that around 283 million people aged 15 years and older, including 237 million men and 46 million women, live with alcohol use disorders (AUD), accounting for 5.1% of the global adult population. Alcohol dependence, as the most severe form of AUD, affects 2.6% of the world's adults, or 144 million people. Hence, the high burden of alcohol use disorders, which include hangovers, is the key factor in increasing the growth of the market.

Furthermore, due to the products' widespread availability in the regions, rising product launches by market participants are expected to drive this market's growth even further.For instance, in July 2022, a new anti-hangover supplement, marketed by the Swedish brand Myrkl, was launched in the United Kingdom. Similarly, in March 2022, Bomb Squad Nutrition Ltd., a Winnipeg start-up, launched a new supplement called Activate Dihydromyricetin (DHM) in Canada. A Health Canada-approved liver protectant is scientifically formulated to scrub the body of toxins that cause hangovers. This will cause more people to use supplements to rehydrate after a hangover, which will drive the market's growth over the next few years.

However, the illegal sale of hangover supplements is expected to hinder market growth in the studied period.

Hangover pills are medications designed to combat multiple symptoms at once, like fatigue, thirst, headache, nausea, light and sound sensitivity, and dizziness. High consumption of alcohol, product launches, and research studies are the key factors in increasing the growth of the market. According to the Australian Bureau of Statistics report published in March 2022, one in four Australians aged 18 years and older exceeded the Australian adult alcohol guideline in 2020–21 (25.8%). Men were more likely than women to exceed the guideline (33.6 percent compared to 18.5%). People born in Australia were almost twice as likely as those born overseas to exceed the guideline (30.0% compared to 17.3%). As a result, increased alcohol consumption leads to an increase in hangovers, which is expected to increase demand for hangover rehydration tablets and drive the market forward.

Furthermore, product launches are one of the key factors for the growth of the market, as they help expand the products in various regions. For instance, in June 2021, Bayer entered into a partnership with musician and producer T-Pain to launch its new Alka-Seltzer Hangover Relief. NEW Alka-Seltzer Hangover Relief relieves headaches, body aches, and mental fatigue caused by alcohol consumption. In addition, the segment is expected to grow with the availability of various research studies in the specified market. For instance, a research study published by Scientific Reports in June 2021 stated that N-Acetylcysteine (NAC) could provide better recovery from a hangover. As a result, new product developments, approvals, and launches aid in the spread of products across various regions, which are expected to drive the market through this segment.

The North American market is estimated to witness growth due to the higher consumption of alcohol and the presence of alcohol rehydration products in the region. For instance, as per the Alcoholic Beverage Consumption Statistics and Trends 2022, 60% of American adults, according to Gallup, Inc., consumed alcohol in 2021 with an average of 3.6 drinks in seven days. Similarly, as per the American Addition Center and Alcohol.org data updated in July 2022, around 85.6% of adults aged 18 and older report drinking alcohol at least once in their lives, with 69.5% reporting having had alcohol in the past year and 54.9% having had alcohol in the past month. Thus, increased use of alcohol in the region is expected to increase the demand for hangover rehydration supplements over the forecast period.

Furthermore, in March 2022, Sen-Jam Pharmaceutical stated that it is developing a promising alcohol hangover prevention medication (SJP-001) that addresses the newly understood pathology of inflammation. Also, as per the same above-mentioned source, the United States FDA considers alcohol hangovers a disease and requires treatments to be registered as drugs. Hence, the new developments of the products in the specified market likely expand the applications and are expected to drive the market over the forecast period.

The Hangover Rehydration Supplement Market is moderately fragmented. In terms of market share, a few of the major players are currently dominating the market. Some of the companies that are currently dominating the market are More Labs, Himalaya Global Holdings Ltd., Rally Labs LLC, DOTSHOT, and Flyby, among others.

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