Market Trends of Global Hangover Rehydration Supplements Industry
This section covers the major market trends shaping the Hangover Rehydration Supplements Market according to our research experts:
Tablets/Capsules Segment is Expected to Hold a Significant Market Share Over the Forecast Period
Hangover pills are medications designed to combat multiple symptoms at once, like fatigue, thirst, headache, nausea, light and sound sensitivity, and dizziness. High consumption of alcohol, product launches, and research studies are the key factors in increasing the growth of the market. According to the Australian Bureau of Statistics report published in March 2022, one in four Australians aged 18 years and older exceeded the Australian adult alcohol guideline in 2020-21 (25.8%). Men were more likely than women to exceed the guideline (33.6 percent compared to 18.5%). People born in Australia were almost twice as likely as those born overseas to exceed the guideline (30.0% compared to 17.3%). As a result, increased alcohol consumption leads to an increase in hangovers, which is expected to increase demand for hangover rehydration tablets and drive the market forward.
Furthermore, product launches are one of the key factors for the growth of the market, as they help expand the products in various regions. For instance, in June 2021, Bayer entered into a partnership with musician and producer T-Pain to launch its new Alka-Seltzer Hangover Relief. NEW Alka-Seltzer Hangover Relief relieves headaches, body aches, and mental fatigue caused by alcohol consumption. In addition, the segment is expected to grow with the availability of various research studies in the specified market. For instance, a research study published by Scientific Reports in June 2021 stated that N-Acetylcysteine (NAC) could provide better recovery from a hangover. As a result, new product developments, approvals, and launches aid in the spread of products across various regions, which are expected to drive the market through this segment.
North America is Expected to Have Significant Growth in the Market Over the Forecast Period
The North American market is estimated to witness growth due to the higher consumption of alcohol and the presence of alcohol rehydration products in the region. For instance, as per the Alcoholic Beverage Consumption Statistics and Trends 2022, 60% of American adults, according to Gallup, Inc., consumed alcohol in 2021 with an average of 3.6 drinks in seven days. Similarly, as per the American Addition Center and Alcohol.org data updated in July 2022, around 85.6% of adults aged 18 and older report drinking alcohol at least once in their lives, with 69.5% reporting having had alcohol in the past year and 54.9% having had alcohol in the past month. Thus, increased use of alcohol in the region is expected to increase the demand for hangover rehydration supplements over the forecast period.
Furthermore, in March 2022, Sen-Jam Pharmaceutical stated that it is developing a promising alcohol hangover prevention medication (SJP-001) that addresses the newly understood pathology of inflammation. Also, as per the same above-mentioned source, the United States FDA considers alcohol hangovers a disease and requires treatments to be registered as drugs. Hence, the new developments of the products in the specified market likely expand the applications and are expected to drive the market over the forecast period.
