Generation Z and Millennials Spearhead Global Adoption of Anti-Hangover Products

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Sep 29, 2023, 12:15 ET

DUBLIN, Sept. 29, 2023 /PRNewswire/ -- The "Hangover Cure Products Market Size, Share & Trends Analysis Report By Product (Solutions, Patches), By Distribution Channel (Online, Offline), By Type, By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global hangover cure products market is poised for a wave of growth driven by rising adoption of anti-hangover products and an amplified awareness of their benefits among the public across the globe. Increased accessibility coupled with the soaring adoption rates among young adults is driving sales globally. These factors, along with the broader penetration of tablets and capsules globally, are having positive impacts on market progression. Key market players are capitalizing on this by expanding their reach through various distribution channels.

An indication of the shift in consumer interests towards functional foods and drinks worldwide presents a burgeoning opportunity for players in the hangover cure product market. The increasing proclivity for ingredients that boost energy, enhance mental clarity, elevate mood, and reduce stress is indicative of potential traction among consumers. Furthermore, the rise and wide acceptance of e-commerce platforms have made online distribution of hangover cure products easier, thereby creating more opportunities for market players. Innovation and distribution across varied channels will be crucial in driving market growth in the future.

Trends & Growth Drivers

As the world witnesses an upswing in the adoption of anti-hangover products, awareness of their benefits is spreading like wildfire. The new-age generation, particularly Generation Z and millennials, are largely driving these sales, with the global market expecting to touch USD 6.18 billion by 2030 at a commendable CAGR of 14.8%.

Factors like increased accessibility and a pronounced shift in consumer interests towards functional foods and drinks stand out. As the world leans towards ingredients promoting energy, mental clarity, mood enhancement, and stress reduction, the hangover cure product market anticipates more traction.

Distribution - Online Leads the Way

E-commerce platforms are revolutionizing the market. 2022 data highlights the dominance of online sales, accounting for a 57.7% share globally. Major FMCG companies and pharmaceutical giants are joining hands with online aggregators such as CVS Health and Amazon.com, extending their reach further.

Product Highlights & Innovations

In the product landscape, hangover cure tablets/capsules took the lead with a 36.7% market share in 2022. Players like Nuun are making waves, offering hydration solutions to combat hangovers. Market innovations aren't far behind. For instance, Myrkl, a Swedish brand, launched a "pre-drinking pill" in the UK in June 2022, claiming its efficacy in breaking down alcohol even before it hits the liver.

Consumer Shifts & Remedies

The report brings to light a shift in consumer preferences towards remedies focused on rehydration, boosting antioxidant levels, neutralizing alcohol by-products, and treating hangovers. This trend is only expected to strengthen, with the hangover remedies sector predicted to cover 64.8% of the market by 2030.

Comprehensive Analysis

From detailed product analysis to consumer behavior insights, the report is segmented for a granular understanding. It covers various product types like solutions, tablets/capsules, powders, and patches and evaluates the market based on types like hangover prevention and remedies. Distribution channels, both online and offline, are explored in-depth, and a keen regional estimate and trend analysis provide a holistic view of the market dynamics.

Key Players

The competitive landscape is fierce with key players like Abbott, Bayer AG, More Labs, The Himalaya Drug Company, Rally Labs LLC (Blowfish), and many others paving the way with their innovative offerings.

List of key companies analyzed:

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

For more information about this report visit https://www.researchandmarkets.com/r/gelqg

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