Hangover Cure Product Market Size to Register 8.20% CAGR Growth by 2034 | Future Market Insights, Inc.
NEWARK, Del, Jan. 02, 2024 (GLOBE NEWSWIRE) -- The global hangover cure products market size was around US$ 2,221.6 million in 2024. It is projected to exhibit a CAGR of 8.20% over the forecast period, with an estimated market size of US$ 4,885.9 million in 2034.
In the last few years, developing and underdeveloped countries all over the world have increasingly adopted the Western corporate culture, which usually involves regular alcohol consumption at parties, events, and on weekends. This has substantially increased the demand for hangover cure products in the international marketplace as individuals seek effective solutions to alleviate the aftermath of alcohol consumption.
In countries like India, China, and Brazil, where a majority chunk of the population is in their legal drinking age, the demand for hangover cure products is at an all-time high. Young people are more likely to attend parties and events where alcohol consumption is prevalent, thus contributing significantly to the global hangover cure product market. This sudden surge in overall demand can also be attributed to the increasing awareness of post-drinking recovery solutions.
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“Key players in the market are focusing on innovation and curating hangover cure products that not only help reduce the migraine but also have functional health benefits. Brands are collaborating with fitness enthusiasts to gain widespread reach to solve the problem of limited awareness,” says Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights
Key Takeaways from the Market Study:
- Capsules and tablets dominated the market by product, with a 35.60% share in 2024.
- The hangover remedies segment accounted for a market share of 69.4% in 2024.
- The hangover cure product market in China is predicted to grow at a remarkable CAGR of 10.10% through 2034.
- The hangover cure product market in the United States is predicted to rise at a whopping 7.40% CAGR through 2034.
- The hangover cure product market in India has the potential to increase at 9.00% CAGR through 2034.
- The German hangover cure product market is predicted to rise by 6.60% CAGR through 2034.
- The hangover cure product market in Australia is predicted to grow at a CAGR of 8.50% through 2034.
Market Competition
The international market for hangover cure products is characterized by the presence of numerous players. The market is still in its nascent stages, with a lot of room for innovation.
Small players in the market have great opportunities in their respective regions as there is no dominance of a single international player all over the world. Small players face challenges like lower profit margins and limited financial resources for marketing and outreach compared to international giants. Despite these challenges, they find innovative ways to sustain in this cut-throat competition.
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Key Companies
- 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
- AWKN
Recent Developments
- In 2022, Swedish brand Myrkl introduced a hangover-curing pill that claimed to break down 70% of alcohol in the body within 60 minutes and reduce the effects of a hangover.
- Danta Ventures Private Limited showcased its innovative hangover cure at GIS. The colloidal solution, with just two drops, featured nanoparticles delivering multi-scale oxygen particles, reducing stress on the body and preventing hangovers.
Key Market Segmentation
By Products:
- Solutions
- Tablets/Capsules
- Powder
- Patches
By Types:
- Hangover Prevention
- Hangover Remedies
By Distribution Channels:
- Online
- Offline
By Regions:
- Europe
- Asia Pacific
- North America
- Latin America
- Middle East and Africa
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Authored by:
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
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