US: 1.646.568.9797 (24x5)
UK: 44.330.808.0580 (24x5)
Worldwide: 91.703.051.960 (24x7)
Industry Insights, Market Size, CAGR, High-Level Analysis: Hangover Rehydration Supplements MarketThe global hangover rehydration supplements market size was valued at USD 1.1 billion in 2018. Increasing consumption of alcoholic drinks across the world is one of the key factors fueling the demand for hangover rehydration supplements over the forecast period. Alcohol consumption is steadily increasing in various countries including U.S., China, India, Spain, Italy, South Africa, and Canada. Increase in consumption is attributed to growing popularity of wine and beer among young consumers due to rising availability, coupled with launch of various varieties. Increasing penetration, coupled with growing awareness of anti-hangover products in developed countries including U.S., U.K., and Germany, is driving the global market over the forecast period. Alcohol detox products are tonic for hangover prevention that provides liver support, restores essential nutrients, helps rehydrate, and boosts your energy with B vitamins. The B vitamins help in alcohol metabolism, increase energy levels, and amino acids, milk thistle, and other plant extracts are added to help liver process, metabolize acetaldehyde, as well as help in removing toxins from body. In addition, due to growing popularity of herbal supplements, companies are majorly focusing on adding herbal extracts including aloe vera and green tea extract and gotu kola for blood circulation and are advertising these products as sugar and gluten free. Thus, demand for hangover rehydration supplements is expected to increase in the coming years owing to increasing awareness related to benefits of alcohol detox product. According to studies, alcohol consumption is steadily increasing across the world. The total alcohol consumption has increased from 21 billion liters in 1990 to 35.7 billion liters in 2017, which increased by 70%. Developing countries including China, India, and Vietnam have witnessed significant increase in alcohol consumption. According to the Centers for Disease Control and Prevention (CDC), excess alcohol consumption is a leading preventable cause of deaths. In U.S., excessing drinking cost more than USD 223.0 billion annually, with loss in workplace productivityaccounting for 72% of the total cost. Thus, increasing awareness related to the harmful effects of alcohol is expected to fuel demand for alcohol detox products over the forecast period.
Product Insights of Hangover Rehydration Supplements MarketBy product type, the global hangover rehydration supplements market is bifurcated into solutions, tablets/capsules, and powder. Among all these products, the solution supplements accounted for the largest share of more than 65.0% in 2018 and is expected to witness the fastest growth over the forecast period. Growing popularity of products such as Pedialyte, Morning Recovery, and Never Too Hangover in U.S. and U.K. is a key factor anticipated to drive the demand for solutions over the forecast period. The tablets/capsules segment held a major market share in 2018. Tablets/capsules are the most popular hangover rehydration supplements in Europe owing to high product visibility. Bayer AG is a key player in the market that sells Alka Seltzer and Berocca as anti-hangover products. Increasing penetration of tablets/capsules in U.S. is expected to have a positive impact on the market growth. For instance, Bayer AG launched Berocca in U.S. and is sold through pharmacy stores and e-commerce channels such as Amazon and Walmart.
Distribution Channel InsightsThe offline segment held the largest share of more than 85.0% in 2018. Increasing product visibility at various retail stores including safeway, CVS Health, Walgreens, Wal-Mart, and Target is a key factor driving the sale of hangover rehydration supplements through offline channel. Demand for nutritional and functional drinks is rising owing to increasing number of health conscious consumers around the world. Although the detox product market is relatively small and fragmented with many different small sized businesses competing, there are nonetheless some brands that stand out. For instance, CVS Health is expected to launch 1,500 HealthHUBs store by the end of 2021. In addition, the company is planning to expand it to 50 locations by the end of 2019. Even though offline channel represented maximum detox product sales, e-commerce channel is gaining significant traction worldwide. Online retail accounted for over 15.0% share in the U.S. market in 2018. The share of online retail in this country was larger than any other country in the world. Companies such as More Lab; Rally Labs LLC; Flyby Ventures LLC; drinkwel, LLC; The IV Doc Inc.; Cheers Health, Inc.; and DOTSHOT are focusing on online channel to increase their sale. With the increasing internet penetration in various countries, online sales channel has witnessed significant growth in the last few years. Moreover, online retailers including Amazon are adding this category as a main focus area. Online retail channels are widely used in developed countries such as U.S., Germany, and U.K. for purchasing detox products and are anticipated to emerge as a steady revenue generating source over the forecast period. Promising growth exhibited by e-commerce platforms in emerging countries, including India and China, is compelling manufacturers to reorient their retail strategies for these countries.
Regional Insights of Hangover Rehydration Supplements MarketAsia Pacific accounted for the largest share of more than 45.0% in 2018. Japan and South Korea dominated the Asia Pacific market, together accounting for more than 55.0% share in 2018. Higher product visibility, coupled with increased awareness among the young generation, is a key factor driving the market in these countries. North America held the second largest share in 2018. Growing awareness related to health benefits of alcohol detox product is expected to fuel demand for hangover rehydration supplements over the forecast period. U.S. emerged as the largest market in North America and accounted for more than 80.0% share in 2018. The market growth is attributed to increasing awareness among young generation.
Market Share Insights of Hangover Rehydration Supplements MarketThe global market is highly competitive in nature due to presence of a large number of vendors in the market. Abbott Laboratories and Bayer AG held a significant share in the global market and are the leadings vendors in North America and Europe. Some of the other players operating in the market are More Labs; Himalaya Wellness; Rally Labs LLC; Flyby Ventures LLC; Drinkwel, LLC; The IV Doc Inc.; Cheers Health, Inc.; and DOTSHOT. Market players are adopting strategies such as mergers and acquisitions to increase product offerings. Moreover, companies are focusing on expanding their product offerings and are adopting innovative technologies in order to meet consumer demand.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Hangover Rehydration Supplements Market Research ReportThis report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global hangover rehydration supplements market report on the basis of product, distribution channel, and region:
Product Outlook (Revenue, USD Million, 2019 - 2030)
Distribution Channel Outlook (Revenue, USD Million, 2019 - 2030)
Table of Contents Chapter 1. Methodology and Scope 1.1. Market Segmentation & Scope 1.2. Market Definition 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization | read more...