21 Sep, 2021, 05:05 ET
SAN FRANCISCO, Sept. 21, 2021 /PRNewswire/ -- The global hangover cure products market size is expected to reach USD 4.67 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 14.6% from 2021 to 2028. 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.
Key Insights & Findings:
- By product, the solutions segment accounted for the largest share of over 35.0% in 2020. The demand for herbal hangover cure solutions is increasing on account of the numerous product launches
- The online distribution channel segment is expected to witness the fastest growth over the forecast period. The growth of the segment is attributed to the emergence and rapid development of e-commerce and the high adoption of online shopping
- Asia Pacific held the largest share of over 50.0% in 2020. The growing awareness about the benefits of alcohol detox products is expected to increase the demand for hangover cure products in the Asia Pacific in the coming years. Europe is expected to expand at the fastest CAGR of 15.4% over the forecast period
Read 111 page market research report, "Hangover Cure Products Market Size, Share & Trends Analysis Report By Product (Solutions, Tablets/Capsules, Powder, Patches), By Distribution Channel (Online, Offline), By Region, And Segment Forecasts, 2021 - 2028", by Grand View Research
Over the past few years, consumers over the world are becoming more enthusiastic about functional foods and drinks. Therefore, ingredients that boost energy, mental clarity, and mood and reduce stress are expected to appeal to consumers in the upcoming years. This trend of functional foods and drinks is likely to create opportunities for hangover cure products manufacturers.
Furthermore, with the growing demand for the products, an increasing number of investors are showing interest in the market. For instance, in April 2018, 82Labs, a U.S.-based start-up that produces hangover rehydration drinks, raised USD 8 million in funding from investors such as Altos Ventures, Thunder Road Capital, Strong Ventures, and Slow Ventures. Similarly, in 2019, Cheers Health Inc., a Texas-based company, raised an amount of USD 2.1 million in seed funding for building its brand and upgrading products. Such fundraisings will help companies develop new and innovative products and expand their reach.
Nutritional profile and the presence of natural ingredients are other important factors influencing the buying decisions of consumers. Various herbs and botanicals are gaining traction among consumers. Product promotion also influences consumers' buying decisions in both countries. Hangover cure products have been gaining immense popularity due to the buzz created on social media platforms.
The demand for hangover cure products is expected to increase in Asia Pacific in the coming years owing to the growing awareness about the benefits of alcohol detox products. Owing to the growing preference for herbal products, market players in Asia Pacific are focusing on using herbal ingredients in their supplements. For instance, in February 2019, Baidyanath Group introduced Armr, a herbal anti-hangover product, and Shunya, a herb-infused vitamin drink, in India. Such initiatives are likely to fuel the market growth over the forecast period.
Grand View Research has segmented the global hangover cure products market on the basis of product, distribution channel, and region:
- Hangover Cure Products Outlook (Revenue, USD Million, 2016 - 2028)
- Hangover Cure Products Distribution Channel Outlook (Revenue, USD Million, 2016 - 2028)
- Hangover Cure Products Regional Outlook (Revenue, USD Million, 2016 - 2028)
- North America
- Asia pacific
- Central and South America
- Middle East and Africa
- South Africa
List of Key Players of Hangover Cure Products Market
- Bayer AG
- More Labs
- The Himalaya Drug Company
- Rally Labs LLC (Blowfish)
- Drinkwel, LLC
- Cheers Health
- Liquid I.V., Inc.
- AfterDrink Ltd.
- Purple Tree Labs
- No Days Wasted
- LES Labs (Detoxx)
- EZ Lifestyle (Over EZ)
- Kaplan Laboratory, LLC (H-PROOF)
- Cheal Hangover Patch
- Party Patch
- Rebound Hangover Patch
- TRIO Patch
- D-Tox Hangover Patches
- La Mend, Inc. (The Good Patch)
- RallyPatch, LLC
- Ozmo Patch
- Wet Buffalo Patch
Browse through Grand View Research's coverage of the Global Alcohol & Tobacco Industry:
- Hangover Rehydration Supplements Market – The global hangover rehydration supplements market size was valued at USD 1.1 billion in 2018. Increasing consumption of alcoholic drinks across the world is one of the key factors fueling the demand for hangover rehydration supplements over the forecast period.
- Ready To Drink Cocktails Market – The global ready to drink cocktails market size was valued at USD 714.8 million in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 12.0% from 2021 to 2028. The growing demand for flavored drinks with low alcohol content due to rising health concerns is anticipated to drive the market over the forecasted period.
- Wine Market – The global wine market size was valued at USD 417.85 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% from 2021 to 2028. The rising adoption of wine among all age groups from the young generation to the old age population across the globe is the key factor for market growth.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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