Dublin, Aug. 24, 2023 (GLOBE NEWSWIRE) -- The Global Hangover Cure Products Market 2023-2030 report has been added to ResearchAndMarkets.com's offering.
The global market for hangover cure products is on a trajectory of substantial growth, projected to reach a remarkable USD 6.18 billion by 2030, with an impressive CAGR of 14.8% between 2023 and 2030. This surge in market size is propelled by the burgeoning sales of hangover cure products, particularly notable among Generation Z and millennials in the U.S. The ubiquity of these remedies, coupled with the escalating adoption of tablets and capsules globally, is set to fortify the market's growth.
Market Dynamics Driving Growth
The market is primed for expansion due to heightened consumer interest in hangover cure products and an escalating awareness of anti-hangover solutions across the globe. Industry players are strategically expanding their market presence through diverse distribution channels, enabling them to reach a wider audience. A surge in demand for functional foods and beverages worldwide has sparked interest in ingredients that augment energy, mental clarity, mood, and stress reduction. This trend offers significant potential for hangover cure product manufacturers to innovate and tailor their offerings to align with this shift.
E-Commerce and Innovation Open New Horizons
The widespread adoption of e-commerce has paved the way for seamless global distribution of hangover cure products, presenting a host of opportunities for market players. Innovation remains a cornerstone of this sector's growth, as manufacturers introduce novel hangover cure products through various distribution channels, thereby propelling the market's evolution.
Key Highlights from the Hangover Cure Products Market Report
- Product Preference: Hangover cure tablets/capsules have claimed a substantial market share of 36.7% in 2022. Notably, hangover cure tablets containing dihydromyricetin are gaining global popularity. For instance, Nuun, a hydration solutions company, offers effervescent tablets that enhance energy levels and provide optimal hydration benefits, significantly impacting the growth of this segment.
- Shift in Remedies: Consumer inclination towards remedies offering rehydration, elevated antioxidant levels, hangover treatment, and alcohol by-products neutralization is driving the market's growth trajectory. By 2030, the hangover remedies segment is projected to capture a significant market share of 64.8%.
- Dominance of Online Platforms: The online channel has emerged as the leading platform for hangover cure product sales, commanding a global share of 57.7% in 2022. Noteworthy is the partnership trend between FMCG companies and pharmaceutical firms with third-party aggregators such as CVS Health and Amazon.com. This strategic collaboration is significantly influencing the growth of this segment.
- Effective Hangover Prevention: Market players are actively promoting their products as efficacious solutions for hangover prevention. In June 2022, Myrkl, a Swedish company, introduced a "pre-drinking pill" in the UK, asserting its ability to break down alcohol before it reaches the liver, effectively averting the formation of toxic acetaldehyde.
In conclusion, the hangover cure products market is poised for substantial growth driven by evolving consumer preferences, innovative product offerings, and strategic distribution. As consumers seek effective solutions to mitigate the effects of hangovers, manufacturers are stepping up their game with functional remedies, leveraging e-commerce platforms, and innovating to meet the evolving demands of the market.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 127 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $2.05 Billion |
| Forecasted Market Value (USD) by 2030 | $6.18 Billion |
| Compound Annual Growth Rate | 14.8% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Hangover Cure Products Market Variables & Trends
Chapter 4. Consumer Behavior Analysis
Chapter 5. Hangover Cure Products Market: Product Analysis & Estimates
Chapter 6. Hangover Cure Products Market: Type Analysis & Estimates
Chapter 7. Hangover Cure Products Market: Distribution Channel Analysis & Estimates
Chapter 8. Hangover Cure Products Market: Regional Estimates & Trend Analysis
Chapter 9. Hangover Cure Products Market: Competitive Landscape
Companies Mentioned
- Abbott
- AfterDrink Ltd.
- AWKN
- Bayer AG
- Bytox
- Cheal Hangover Patch
- Cheers Health
- D-Tox Hangover Patches
- DOTSHOT
- DrinkAde
- Drinkwel, LLC
- EZ Lifestyle (Over EZ)
- Flyby
- Kaplan Laboratory, LLC (H-PROOF)
- La Mend, Inc. (The Good Patch)
- LES Labs (Detoxx)
- Liquid I.V., Inc.
- LiveToShine
- More Labs
- No Days Wasted
- Ozmo Patch
- Party Patch
- Purple Tree Labs
- Rally Labs LLC (Blowfish)
- RallyPatch, LLC
- Rebound Hangover Patch
- SmartPatches
- The Himalaya Drug Company
- Toniiq
- TRIO Patch
- Wet Buffalo Patch
For more information about this report visit https://www.researchandmarkets.com/r/jcf52k
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
