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.
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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