Throat Lozenges Market Anticipated to Grow at CAGR of 4.80% by 2032
Research Reports
May 20, 2024
Throat Lozenges Market Research Report: Information by Type (Hard Candy Lozenges, Soft Lozenges, And Compressed Lozenges), By Ingredient (Menthol, Mint, Eucalyptus Oil, Peppermint Oil, Honey & Ginger, Lemon, and Others), By Indication (Sore Throat, Cough and Cold, and Throat Diseases), And by Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
The Throat Lozenges market is experiencing substantial growth driven by factors such as the prevalence of respiratory infections, increased awareness of throat health, and innovations in lozenge formulations. Throat lozenges, also known as cough drops, provide relief from sore throats, coughs, and other throat irritations through the gradual release of medicinal ingredients. The market encompasses a variety of lozenge types, including menthol-based, herbal, and medicated formulations, catering to diverse consumer preferences.
The demand for throat lozenges is particularly high during cold and flu seasons, with consumers seeking symptomatic relief for common respiratory ailments. The market benefits from ongoing research and development activities, leading to the introduction of lozenges with added nutritional and functional ingredients, such as vitamins, minerals, and herbal extracts. Additionally, the expansion of e-commerce platforms and over-the-counter sales channels further contributes to market accessibility.
Changing consumer lifestyles, coupled with the global emphasis on self-care and wellness, drive the popularity of throat lozenges as a convenient and effective remedy for throat discomfort. The Throat Lozenges market is expected to witness sustained growth, with manufacturers focusing on product innovations and marketing strategies to address evolving consumer needs and preferences in the realm of throat health and symptomatic relief.
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The intensified frequency of common cols is estimated to power the throat lozenges market 2024. The pharmaceutical reports are made by Market Research Future, which includes market options for expansion. A 4.80% CAGR is estimated to promote market growth in the course of the forecast period.
The need for easy to administer treatment solutions in case of flu symptoms is a vital factor promoting the throat lozenges market. The low-price component and easy accessibility to various product options are anticipated to create optimistic chances for growth in the throat lozenges market in the course of the forecast period.
Competitive Analysis
The government bodies of several countries are likely to play a central role in the revitalization of the global market, post the deceleration seen in the aftermath of the pandemic. The end-users in the market are estimated to show variety in terms of the preference in the coming period. The decrease in supply chain bottlenecks is appraised as a primary objective that challengers in the market are assessed to tackle urgently in the forecast period. The prerequisite for sustainability in the market is projected to be formed by renewing the open cash movements. The market is estimated to open up to new and lucrative opportunities for expansion in the forecast period. The contenders for the majority share are predicted to transform the market backdrop considerably in the forecast period. The markets are estimated to conduct more of their business dealings online than in brick and mortar stores.
The eminent contenders in the throat lozenges market are Procter & Gamble, Gepach International, Bliss GVS Pharma Ltd, Prestige Brands Inc, Wrigley Company, Reckitt Benckiser Group plc, Thornton & Ross, Ricola AG, Bausch Health Companies Inc, Mondel?z International group, GlaxoSmithKline, Pfizer Inc., Ernest Jackson, and Doetsch Grether AG to name a few.
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Segmental Analysis
The segmental examination of the throat lozenges market research is conducted on the basis of ingredient, type, region, and indication. On the basis of ingredient, the throat lozenges market has been segmented into eucalyptus oil, mint, menthol, honey & ginger, lemon, peppermint oil, and others. On the basis of indication, the throat lozenges market has been segmented into throat diseases, sore throat, cold and cough, and others. Based on the type, the throat lozenges market has been segmented into soft lozenges, hard-candy lozenges, and compressed lozenges. The hard candy sub-segment further consists of center filled hard-candy lozenges and caramel or chewy based medicated tablets. On the basis of regions, the throat lozenges market is segmented into Europe, the Middle East, North America, Asia Pacific, South America, and Africa.
Detailed Regional Analysis
The regional investigation of the throat lozenges market covers regions such as Europe, the Middle East, North America, Asia Pacific, South America, and Africa. At present, the regional markets in North America and South America together are responsible for the biggest throat lozenges market share. In the year 2017, the Americas’ throat lozenges market was credited for more than 31% portion of the throat lozenges market. The North America regional market for throat lozenges, in particular, is projected to go on as a significant market for throat lozenges for the duration of the forecast period. The sales of OTC medical products comprising of throat lozenges will carry on its expansion in the region in the years to come. In the meantime, the European throat lozenges market has appeared as the single largest market for throat lozenges. The common cold is significantly great in numerous parts of Europe, which acts as a favourable component for the region’s throat lozenges market.
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