The global hangover rehydration supplements market size is projected to reach USD 3.0 billion by 2025 and expected to grow at a CAGR of 15.0% during the forecast period, according to Million Insights, from 2019 to 2025. Increasing consumption of alcohol among the young generation has majorly driven the market growth. In addition, increasing awareness about the adverse effects of alcoholic drinks is expected to further drive the detox products demand. Moreover, increasing consumption of alcohol in several countries such as China, Japan, and India is expected to witness healthy growth over the forecast period.
The solution segment held the largest market share of more than 65.0%, in 2018 and expected to retain its dominance through the forecast period due to detox product visibility at medical stores. The tablet/capsules held significant market share owing to the increasing product development in the U.S., U.K. and India, and high product visibility.
In 2018, the offline segment accounted for the largest market share of over 85.0% and expected to lead during the forecast period. This growth is attributed to the rising availability of these detox products at several retail channels. However, the online channel is expected to gain significant market share and projected to grow with the fastest CAGR from 2019 to 2025. The small players such as Cheesy Health and More Labs are concentrating on online channels to expand their business.
In 2018, Asia Pacific accounted for the largest market share of over 45.0% of the global revenue. Japan & South Korea contributed a significant market share of more than 55.0% in this regional market, by the end of 2018. High alcohol detox products visibility along with increasing awareness about the health benefits of products among the young population is the key factor to drive the growth of this market. Europe is anticipated to grow with the highest CAGR of more than 15.0% from 2019 to 2025. Germany and the U.K. are the prominent markets owing to the availability of detox products such as Berocca, and Blowfish, Alka Seltzer coupled with increasing awareness of these products among consumers.
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Further key findings from the report suggest:
• By product, the solutions segment held more than 65.0% market share in terms of revenue, in 2018.
• The offline segment has generated revenue of USD 990.0 million, in 2018.
• Asia Pacific accounted for the market share more than 45.0%, in 2018 due to the high product visibility in India and China, coupled with increasing awareness about health benefits of hangover supplements among young population.
• This market is highly competitive in nature owing to presence of large and small number of players. Bayer AG and Abbott Laboratories accounted significant market share and they are top players in Europe and North America.
Million Insights has segmented the hangover rehydration supplements market on the basis of product, distribution channel, and region:
Hangover Rehydration Supplements Product Outlook (Revenue, USD Million, 2015 - 2025)
Hangover Rehydration Supplements Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
Hangover Rehydration Supplements Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• South Korea
• Central & South America
• Middle East & Africa
• South Africa