South Korea Hangover Cure Products Market Share to Witness Significant Revenue Growth

South Korea Hangover Cure Products Market Summary

The South Korea hangover cure products market size was valued at USD 288.11 million in 2022 and is anticipated to grow at a robust compound annual growth rate (CAGR) of 17.2% from 2023 to 2030. One of the primary drivers fueling this growth is the increasing consumption of alcoholic beverages within the country. This trend is particularly evident among younger populations, with rising interest in wine and beer across South Korea and other countries in the region, such as China and India. As drinking becomes more normalized in social settings, the demand for hangover cure products continues to rise accordingly.

According to an article published by the National Library of Medicine in December 2020, approximately 70.5% of South Korean men and 51.2% of women aged 19 and above reported alcohol consumption during the year 2019. Furthermore, around 20% of these individuals were identified as binge or excessive drinkers, who collectively accounted for 66% of all alcohol consumption in the country. This subgroup represents a significant portion of the target audience for hangover cure products, as their frequent and high-volume alcohol intake often results in severe hangover symptoms, prompting a reliance on such remedies.

Key Market Trends & Insights

• In 2022, solutions and drinks emerged as the dominant product category, holding a market share of 48.1%. The rising popularity of these solutions is attributed to growing health awareness among consumers, who increasingly seek premium hydration and wellness beverages designed to alleviate the after-effects of alcohol consumption. Leading companies, including Dawn 808 by Yeomyeong, Sang Kwae Hwan by Samyang Corporation, and offerings by HK inno.N Corporation, have successfully introduced a range of flavorful hangover solutions, catering to diverse taste preferences and expanding the segment's appeal.
• The segment for hangover cure products consumed before drinking held the highest share at 52.5% in 2022. South Korea’s well-known drinking culture has led many individuals to adopt preventive strategies, such as consuming hangover solutions or tablets a few hours prior to alcohol intake. These preemptive measures help accelerate alcohol metabolism and reduce the severity of hangover symptoms, supporting the popularity and continued expansion of this product segment.
• Offline retail channels accounted for the largest distribution share at 80% in 2022, driven by the accessibility and convenience of purchasing hangover cure products from physical stores. Consumers benefit from the ease of obtaining these products at nearby convenience stores, pharmacies, supermarkets, and shopping malls. The widespread retail presence ensures that hangover cures are readily available, especially during social occasions, work functions, or spontaneous events that involve alcohol consumption.

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Market Size & Forecast

• 2022 Market Size: USD 288.11 Million
• 2030 Projected Market Size: USD 1,026.94 Million
• CAGR (2023 - 2030): 17.2%

Key Companies & Market Share Insights

The South Korea hangover cure products market is characterized by the presence of some large multinational and regional companies. Leading manufacturers hold a significant market share in South Korea. Companies have been implementing various expansion strategies such as mergers & acquisitions, marketing partnerships, capacity expansions, and strengthening of online presence to gain a competitive advantage over others in the market.

• For instance, in June 2022, Bayer AG announced its partnership with T-Pain, a producer and musician, to launch its new innovative product Alka-Seltzer Hangover Relief. This product claims to offer quick relief from mental fatigue, body aches, and headaches the morning after. The artist also produced a new version of his jingle “Plop Plop, Fizz Fizz” to introduce the brand to a new set of younger consumers.

Key Players

• HK inno.N Corp.
• COM
• Dong-A Socio Holdings
• Samyang Holdings Corporation
• Bayer AG
• HANDOK
• Abbott
• Flyby
• Revival
• Vit2go Online Shop
• Zolv

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Conclusion

The South Korea hangover cure products market is experiencing rapid growth, driven by increased alcohol consumption, cultural drinking norms, and rising consumer awareness of preventive wellness. Products like pre-drinking solutions and functional beverages appeal to health-conscious individuals looking to mitigate alcohol's aftereffects. Market expansion is further supported by established offline retail networks, making these remedies accessible and convenient. With a growing number of consumers seeking proactive and immediate relief options, the demand for innovative and flavorful hangover cures is expected to continue rising. This positions South Korea as a leading hub for functional wellness products within the Asia-Pacific region.