Hangover Cure Market

Hangover Cure Market

The global hangover cure market is forecast to expand at a CAGR of 8.9% and thereby increase from a value of US$2.3 Bn in 2023 to US$4.2 Bn by the end of 2030.

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Market Introduction and Definition

Hangover cure is a health supplement that is majorly used to tackle the after-effects of excessive alcohol consumption. Intake of alcohol beyond limits causes adverse and at times severe side effects such as nausea, headaches, dehydration, inflammation, sleep cycle disturbance, hormonal imbalance, toxicity, and fatigue. Hangover cure products, in various forms and types, contain ingredients such as electrolytes, vitamins, and additives that help in tackling these symptoms and giving faster relief. These supplements help to rehydrate the body, support liver function, elevate lethargy, and help in removing toxins from the body. Apart from remedies that can be useful post-alcohol consumption, market players are also foraying into hangover-prevention products that can be taken before drinking alcohol to prevent the side effects from materializing.

The growing consumption of alcohol across the globe is the biggest driver for the growth of the hangover cure market. In general, the increased acceptance of alcohol consumption in social and official settings and the reduced outlook of alcoholism being a vice has increased the amount of consumption globally. With the introduction of online and offline stores that provide a wide variety of alcoholic drinks at the user’s disposal, the problem of accessibility has been resolved, increasing alcohol consumption amongst the global population. The general awareness amongst the alcohol-drinking population about the negative impact of alcohol consumption and the availability of products that can offset the damage is crucial to the recent growth of the hangover cure market.

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Market Growth Drivers

Acceptance and Awareness About Alcohol Consumption

In recent years, the amount of alcohol consumption has seen a steady rise. According to surveys by the World Health Organisation (WHO), both societal and individual factors play important roles in this increased acceptance of alcohol consumption. Factors such as improved standard of living, acceptance of alcohol as a social drink, cultural acceptance, family habits, availability of alcohol, policies regarding alcohol production and consumption, age, and gender play pivotal roles in an individual’s decision to start consuming alcohol. Earlier considered as a vice, alcohol has transitioned into a socio-economic indicator and hobby. With the ready availability of all kinds of alcohol at varying price points that are affordable to consumers from every economic class, the level of alcohol consumption has gone up.

In addition to the growing consumption of alcohol, awareness about the ill effects of alcohol has also increased over the past few years. Government initiatives to reduce alcohol-related accidents and health issues, awareness drives and campaigns are prevalent on social media and other media outlets. The rise in awareness of the ill effects has had a direct effect on the understanding and usage of remedies and preventive measures available at the consumer’s disposal. Global measures by WHO such as the formation of the Global Information System on Alcohol and Health (GISAH), which will help in better understanding of alcohol consumption patterns as well as its adverse effects and the need for necessary policies, will also help in the further growth and innovation in the field of hangover cures.

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Market Restraints

Increasing Affinity Towards Healthier And Non-Alcoholic Beverages

The hangover cure market is intensively dependent on consumer consumption behavior. The shift to a healthier and safer lifestyle by consumers will inadvertently see a drop in the use of harmful products such as alcohol, seeing a drop in the need for hangover cures. Moreover, product innovation in the food and lifestyle sector in terms of developing non-alcoholic alternatives that are as lucrative as alcoholic beverages, if not more, will also lead to a shift in consumption patterns. The ready availability of alternatives, with lesser side effects is expected to negatively impact the growth of the hangover cure market.

Unproved Efficiency Of The Product

Some ingredient mixture that goes into the production of hangover cures is said to lack scientific backing. The limited amount of research surrounding the actual effects and benefits of hangover preventives and remedies for the ill effects caused by alcohol consumption has led to consumers questioning their performance. Similarly, stringent rules surrounding the production of supplements and the use of ingredients might also have a negative impact on the projected performance of a product.

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Opportunities

Leveraging Consumer Shift To Healthy Drinks

Consumers today are looking for supplements that provide maximum benefit to the body to offset the junk food and sugary beverages that are inadvertently consumed by them. Research and development into making better hangover cures that not only tackle the side effects due to alcohol poisoning such as liver issues, fatigue, and nausea, but also provide elements that help in improving the consumer’s general well-being will help in increasing market growth.

The inclusion of natural herbal ingredients, along with vitamins, minerals, and other additives that are helpful for the body will help in increasing the consumption of hangover cures. The inclusion of innovative ingredient mixtures that provide a unique positive impact on the body such as the addition of red ginseng for increased metabolism or ginger for gastrointestinal issues will help in improving revenue collection.

Analyst Viewpoint

The Hangover Cure Market is anticipated to undergo substantial expansion and change. The global consumer’s increasing focus on healthy and beneficial supplements that can help improve their well-being has significantly transformed the hangover cure market. Previously, consumers would take painkillers such as ibuprofen to tackle alcohol-related issues, but today users are more inclined towards cure and preventive methods that will not only cause no harm but also provide extra support to their betterment. Along with consumer needs, policies and regulations regarding the production of supplements have also become stringent. The need for on-the-go remedies that act effectively and efficiently will see a rise in the future, paving the way to more advanced ways of hangover cures such as patches. Along with this, the shift to preventive methods rather than remedies will also be more prevalent in the future, with innovation from market players. 

Supply-side Dynamics

Several factors, including alcohol consumption, improving socio-economic levels, and increased awareness about the aftereffects of alcohol usage, all contribute to the dynamic and rapid expansion of the global hangover cure market. Bayer AG, More Labs, The Himalaya Drug Company, Rally Labs LLC, Flyby, Toniiq, and Drinkwel, LLC are market leaders in the hangover cure sector. Competitors such as Bayer AG, Abbott, and Rally Labs LLC have a diverse product catalogue making them international players whereas manufacturers such as Flyby, Cheers Drinks, and Drinkwel play in regional markets.

Several corporations are allocating resources toward product research and development to satisfy the increasing need for a variety of remedies and preventive options. It is anticipated that these expansions will substantially alter the dynamics of the market, resulting in heightened competition, reduced prices, and an influx of innovative products. Players are looking to create the most impact by bringing in the first player and capturing the market before saturation.

Market Segmentation

Which Products Are Expected to Benefit the Most from Revenue Generation?

Tablets/Capsules Are Expected To Lead Market Share Due To Ease Of Usage

The product type is segmented into tablets/capsules, solutions, patches, and powder. The tablet/capsules segment is expected to dominate the market due to the wide variety of alternatives that are easily available to the consumer. The ease of usage of tablets as they can be taken on the go and their quick response time has also led to their widespread acceptance. Product innovation by major players such as Bayer AG and Nuun in the form of effervescent tablets, and dihydromyricetin capsules by No Day’s Wasted has also boosted the market share of this segment. In addition, the patch category is anticipated to have the fastest compound annual growth rate, signifying substantial market expansion. Rehydration patches are expected to be in high demand in the upcoming years due to customers' growing need for novel hangover remedies. Before ingesting alcohol, these patches are placed to the skin, allowing the active components to enter the skin through the pores.

Which Type Will Be Focused on the Most Regarding Sales?

Hangover Remedies Will Dominate The Market Due To Its Lucrative Promised Results

The type segment is segmented into hangover remedies and hangover prevention. Hangover remedies are expected to bring in more sales as consumers often fall back on finding solutions after they face problems due to alcohol consumption. Moreover, other positive effects promised by hangover remedies such as rehydration, and energy boost, as well as infused with herbal products such as kudzu root, passionflower, and lemon balm, apart from tackling alcohol consumption-related side effects, will also help in the market growth of hangover remedies. Furthermore, over the course of the forecast period, a CAGR is anticipated in the market for hangover prevention products. In order to lessen the consequences of alcohol use, customers are choosing hangover prevention treatments like pills, tablets, and patches more often these days.

Why are Online stores to be Dominant Regarding Sales?

Availability Of Variety And Ease Of Purchase From Online Stores To Help Increase Sales

The distribution channel segment is categorized into online and offline segments. Major players such as Rally Labs LLC, DrinkAde, Drinkwek, LLC, IVITA, RESQWATER, DOTSHOT, and Morning Fresh offer their products through their online channels as well as collaborate with third-party sellers such as Amazon.com, Walmart, CVS, and other pharmaceutical websites. The ease of access to these portals along with a wide range of products that helps consumers make informed and cost-efficient purchases has helped the online segment to dominate in terms of revenue. However, a significant portion of revenue came from the offline distribution channel's sales of hangover treatment items. The main distributors of hangover cure goods are offline channels including pharmacies, health and wellness centres, and a few supermarkets, hypermarkets, and department shops. In an effort to increase their customer base, the majority of pharmacies now provide delivery services.

Top Regional Markets

Change In Socia Economic Culture In The Region Has Improved Awareness In Users

Improvement in the socio-economic levels of consumers in the Asia Pacific region has led to an increase in the usage of lifestyle products such as alcohol. Along with this, there has been a significant rise in awareness by government as well as private bodies on various social issues, such as healthy food and drinking habits. This has led to an increase in consumers opting to use hangover remedies. The rapid and growing e-commerce network in the Asia Pacific region has also helped in gaining high market share due to the ease of availability to consumers.

Introduction Of New And Targeted Products To Help Market Growth

The European region exhibits one of the highest per capita numbers of alcohol consumers in the world. The increased efforts to create awareness about the existence and use of hangover cures in the region are expected to help the market grow tremendously during the forecast period. In addition, the region has seen a rise in conscious food habits, which is expected to positively impact the growth of the hangover cure market.

Competitive Intelligence and Business Strategy

Prominent organizations, including Abbott, Bayer AG, and Rally Labs LLC, are at the vanguard of this sector, providing inventive solutions by capitalizing on their technological prowess and vast experience in the health and wellness industry. Organizations operating within this sector prioritize product research and development, strategic alliances, and user experience improvement. These businesses make substantial investments in R&D to new ingredient lists to attract new user bases. Additionally, they establish collaborations with influencers and third-party sale points such as CVS, Walmart, etc. to further push sales. Furthermore, to contend with the increasing market that is primarily motivated by concerns regarding the health benefits of the product, the players have to come up with new ingredient combinations to keep themselves ahead of the curve that also falls under required regulations.

To distinguish themselves in this highly competitive market, these businesses strive to differentiate their products. They achieve this by providing different herbal additives such as ginseng, prickly pear,  turmeric, and milk thistle.

Key Recent Developments

New Product Launch

De Faire Medical, a Sweden-based bio-research firm, launched its hangover preventive cure, Myrkl which would help prevent the ill effects of alcohol from forming in our bodies. A set of two pills, when taken before consuming alcohol, claims to break down 70% of alcohol within 60 minutes.

Market Impact: The preventive solution Myrkl will probably help in propagating the currently lagging segment. The pills are said to contain bacteria along with L-cystine and Vitamin B12, which help in tackling fatigue. This product, if successful, will help in increased innovation in the preventive hangover cure field.

Jupiter Wellness, Inc. acquired GBB Drink Lab, Inc., including their patented blood alcohol detox drink, Safety Shot, in August 2023. The world’s first patented rapid blood detoxification product is expected to lower the blood alcohol content by 50% in 30 minutes.

Market Impact: The success of Safety Shot will pave the way for a more advanced and clinically proven hangover cure that will have high-performance parameters and function based on sound clinical research.

Revit, a Singapore-based firm, launched anti-hangover gummy bears in February 2023. These are honey lemon-flavored gummy bears that contain 1000 mg of DHM, no sugar, and all-natural ingredients. It claims to reduce hangover symptoms, Asian flush, protect the liver and replenish lost nutrients by consuming 2-4 gummies before, during, or after drinking, depending on the amount of alcohol consumption.

Market Impact: The gummy form of hangover cure is fast and handy. The ease of use will have a significant impact on competition as this becomes more viable for the consumer.

Hangover Cure Market Report Scope

Hangover Cure Market Research Segmentation

By Product:

• Tablets/Capsule

• Solution

• Powder

• Patches

By Type:

• Hangover remedies

• Hangover prevention

By Distribution Channel:

• Online

• Offline

By Region:

• North America

• Europe

• East Asia

• South Asia & Oceania

• Latin America

• Middle East & Africa