Prerequisite for Drinking Parties Including Company Dinners…
Last Year’s Market Size USD$211.4 Million
Mr. Kim is in his 30s and an assistant manager of company A in Seoul. He is a huge fan of beverages that remove hangovers. He often purchases such beverages after drinking alcohol with his acquaintances or after company dinners because he feels a bottle of a hangover removing beverage helps him settle his stomach and become sober faster. Mr. Kim says, “Hangover removing beverages are not cheap but it’s my habit to buy them because I think they have a beneficial effect on my health after drinking.”
A Rapid Growth in the Hangover Removing Beverage Market over the Past 20 Years
The Korean market for hangover removing beverages started with the product Condition (of CJ Cheiljedang) in 1992. In fact, when that beverage first came out, it got a poor reception because in those days most Koreans used honeyed-water and dried pollack soup to relieve hangovers. They believed it was not worth paying a high cost for a bottle of a hangover removing beverage. Initially the market size was just USD$1.56 million. But contrary to everyone’s expectations, the following year the market expanded to USD$27.6 million. It has been enjoying burgeoning growth and reached USD$211.4 million last year.
Consumption of Alcohol Down, Hangover Removing Beverages Up
Until the mid-2000s, there was a very strong tendency to drink at a lot of company dinners and the popularity of poktanju (a mixed shot of two or more types of drinks) was skyrocketing. On this fertile ground, the consumption of hangover removing beverages was increasing and many companies and communities often purchased such beverages in bulk. By the late 2000s, however, many Koreans started to pay more attention to their personal health and the consumption of alcoholic drinks has been steadily decreasing since then. Nevertheless, the number of people who drink hangover removing beverages for their health is on the rise. Along with the expansion of the drinking culture to women and young people in their 20s, this trend contributes to the unceasing development of the Korean hangover beverage market.
When Do Hangover Removing Beverages Sell Best?
According to 7-Eleven (a major convenience store company in Korea), they sell the largest volume of hangover removing beverages between 10pm and 2am. This time period accounts for 40 percent of the total sales. It means that people tend to drink hangover removing beverages after, rather than before, drinking alcohol. When broken down by the day of the week, the average sales are the highest on Friday and Saturday and the lowest on Monday and Sunday. December is the best-selling month of the year with Friday and Saturday sales in that month at the top of the entire year.
That Lead the Korean Hangover Removing Beverage Market Top3
Condition (of CJ)
The Strongman in the Market
Since it was first released in 1992, Condition has been the best-selling hangover removing beverage in Korea for 20 years. Last year, its sales reached the figure of 440 million bottles. Condition was developed as a product containing a rice-fermentation ingredient. As a result of the producer’s incessant efforts to further improve the quality of the product, several upgraded versions of Condition have entered the market: Condition-F, Condition ADH, Hutgae Condition (with hovenia dulcis), and so on. In particular, Hutgae Condition, the sixth version of Condition, has received a lot of praise for adding extract of hovenia dulcis, which is considered a very effective remedy for relieving hangovers. Condition is the favorite of many businessmen.
Dawn 808 (of Glammy)
Good Thanks to Medicinal Herbs
With a variety of medicinal herbs - such as alder tree, ginger, and jujube - Dawn 808 is a beverage for curing hangovers. It is renowned for its effectiveness in removing hangover symptoms, such as headache and heartburn, after drinking. The technology for producing Dawn 808 was patented in 11 countries including the US, Japan, and France. The product is currently exported to 17 countries. A lot of heavy drinkers in Korea judge Dawn 808 to be the best for relieving hangovers. Recently, Dawn 1004, which strengthened the effects of Dawn 808 by a factor of three, has been released and is coming into the spotlight.
Morning Care (of Donga Pharm)
Nice Taste and Scent, Protects the Liver
Produced by the famous Korean pharmaceutical company Donga Pharm., Morning Care is a healthy functional beverage for relieving hangovers. Its main ingredient is milk thistle, a common medicine for the fatty liver. Milk thistle is well known for its detoxification function of the liver and for protecting liver cells from harmful substances. Morning Care has a good taste and smells better than other hangover removing beverages because it contains xylitol and honey. Donga Pharm. recently released Morning Care Plus. This new product has lactic-acid fermented kelp extract and is also sounding out its advance into foreign markets.
Park Sung Eun email@example.com
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