Detox Product Market Size is Projected to Reach USD 69.85 Billion by 2025: Grand View Research, Inc.
7-Jan-2020: The global detox product
market size is expected to reach USD 69.85 billion by
2025, according to a new report by Grand View Research, Inc. It is anticipated
to expand at a CAGR of 4.6% during the forecast period. Increasing drug and
alcohol addiction among youth is expected to fuel the product demand.
Alcohol addiction
among teenagers is one of the major issues, as the alcohol consumption among
the teenager is increasing across the world. Government agencies from around
the world are taking various preventive majors and are spreading awareness
through awareness campaigns in school, colleges, and other such places. This
factor is expected to drive the demand for detox products over the forecast
period.
Pharmaceutical
product segment led the global detox products market in 2018 and is expected to
maintain its position throughout the forecast period. Rising availability of
nicotine replacement therapy products coupled with the demand for chewing gums
is driving the sales of pharmaceutical products. However, herbal product
segment is expected to witness the fastest CAGR over the forecast period. High
demand for green tea owing to its various health benefits is expected to bode
well for the growth. Rising consumption of green tea among smokers for
detoxification is anticipated to fuel the product demand. Moreover,
availability of various flavors of green tea drives the product demand. For
instance, in 2018, Red Tea Detox was launched. It reduces the weight and
improves immune system along with detoxifying the body.
North America held
the largest market share in 2018. The increasing drug and alcohol consumption
in U.S and government efforts to spread awareness regarding the ill effects of
these products is anticipated to drive the regional growth. Rise in training
programs, seminars, behavioral therapy, medication, case management, and other
forms of care is expected to further fuel the demand for detox products.
However, Asia Pacific is expected to witness significant growth over the
forecast period owing to the increasing penetration of nicotine therapy
replacement product.
In
depth research report on Detox Product Market
Further key findings from the report suggest:
·
In terms of revenue, herbal products segment is anticipated
to ascend at a CAGR of 5.1% over the forecast years
·
Pharmaceuticals led the product segment with an overall
market share of over 44.2% in terms of revenue in 2018
·
North America led the global detox product market in 2018
with a revenue share 30.5%
·
The market is highly competitive with the presence of major
players such as Pfizer Inc.; Novartis AG.; West-Ward Pharmaceuticals Corp.;
Mallinckrodt PLC.; Biodelivery Sciences International Inc.; Mylan N.V.; Body
Ecology, Inc.; Detoxify LLC.; Himalaya Global Holdings Ltd.; The Bioforce
Group; and others
Grand View Research
has segmented the global detox product market by product, and region:
Detox Product Outlook (Revenue, USD Billion, 2015 - 2025)
·
Pharmaceuticals
·
Herbal
·
Cosmetics
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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