The global Hangover Cure Products market size is expected to be worth around US$ 8.67 billion by 2030, according to a new report by Vision Research Reports.
The global Hangover Cure Products market size was valued at US$ 2.56 billion in 2020 and is anticipated to grow at a CAGR of 20.6% during forecast period 2021 to 2030.
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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.
With the growing consumer preference for 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 in protecting the liver, metabolizing acetaldehyde, and removing toxins from the body. Increasing penetration of cure products, along with the growing awareness about anti-hangover products worldwide, is likely to fuel the market growth during the forecast period. Companies operating in the market are increasingly expanding their reach by adopting various distribution channels.
The solutions segment dominated the market with a revenue share of over 35.0% in 2020. Owing to the increasing consumer preference for herbal and plant-based products, players operating in the market are using ingredients, such as ginseng, turmeric, and milk thistle, to manufacture hangover cure products. The robust demand for herbal hangover cure solutions is supported by numerous product launches, which is expected to favor the segment growth.
The offline channel segment accounted for the largest share of over 55.0% in 2020. Offline distribution channels such as pharmacies and health and wellness centers along with some supermarkets, hypermarkets, and departmental stores are the major distributors of hangover cure products. Most pharmacies, in order to expand their consumer base, are also offering delivery services.
The online channel segment is expected to witness the fastest growth over the forecast period. Online channels are the major platform for the sale of such products. Several FMCG companies and pharmaceuticals are merging and collaborating with third-party aggregators, such as CVS Health, Amazon.com, Walmart, Walgreen Co., and Chemist Warehouse, to expand their consumer base. Such factors are likely to have a positive impact on segment growth.
Asia Pacific held the largest share of over 50.0% in 2020.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. These products include tonics for hangover prevention, which provide liver support, restore essential nutrients, help improve metabolism, reduce nausea caused due to excessive alcohol consumption, help rehydrate, and boost energy.
- 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
|Market Size||US$ 8.67 billion by 2030|
|Growth Rate||CAGR of 20.6% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Distribution Channel|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||Abbott; Bayer AG; More Labs; The Himalaya Drug Company; Rally Labs LLC (Blowfish); Flyby; Drinkwel, LLC; Cheers Health; Liquid I.V., Inc.; DOTSHOT; AfterDrink Ltd.; Toniiq; Purple Tree Labs; No Days Wasted; LES Labs (Detoxx); EZ Lifestyle (Over EZ); DrinkAde; Kaplan Laboratory, LLC (H-PROOF); Bytox; Cheal Hangover Patch; Party Patch; Rebound Hangover Patch; TRIO Patch; SmartPatches; D-Tox Hangover Patches; La Mend, Inc. (The Good Patch); RallyPatch, LLC; Ozmo Patch; Wet Buffalo Patch; LiveToShine|
- Distribution Channel
- North America
- Asia pacific
- Central and South America
- Middle East and Africa
- South Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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