Throat Lozenges Market Research Report: Impact of COVID-19, Business Insights of Leading Players & Emerging Technologies 2027
Research Reports
Mar 09, 2022
Throat Lozenges Market Insights:
The throat lozenges market is expected to witness a moderate CAGR of 4.31% and generate a market value of USD 6.58 Billion by the end of 2027.
The global Throat Lozenges Market is driven by the towering prevalence of common cold and flu across the globe. Common cough and cold tend to occur all year round and are contagious in nature due to which they keep on spreading. Due to the inherent trend of resorting to over-the-counter medications, throat lozenges are predominantly the first line of treatment in case of throat infections.
These lozenges are available in different flavors, and new flavors are being introduced continually, which has increased adoption among consumers. In addition, throat lozenges can be purchased and consumed without a prescription due to which they can be commercialized faster. Throat lozenges have evolved to become more effective in the past few years. Other factors supporting the growth of the market include the development of new ingredients and rapid product penetration in emerging economies.
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Throat Lozenges Market Competitive Dynamics
Leading players in the global throat lozenges market include Bliss GVS Pharma Ltd., Gepach International, Mondelez International Group, Pfizer Inc., Ernest Jackson, Reckitt Benckiser Group plc, Procter & Gamble, Bausch Health Companies Inc., Prestige Brands Inc., Wrigley Company, Doestsch Grether AG, GSK, Ricola AG, and Thornton & Ross.
Throat Lozenges Market Segmental Analysis:
The global throat lozenges market is segmented on the basis of type, indication and ingredient in the report.
By type, the global throat lozenges market is segmented into hard candy lozenges, soft lozenges, and compressed lozenges.
By indication, the global throat lozenges market is segmented into sore throat, cough and cold, and throat diseases. Sore throat and cough and cold are likely to remain the leading indications in the global throat lozenges market over the forecast period.
By ingredient, the global throat lozenges market is segmented into menthol, mint, eucalyptus oil, peppermint oil, honey and ginger, lemon, and others.
Throat Lozenges Market Regional Overview:
The global throat lozenges market is segmented into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific on the basis of region.
North America is likely to be the major regional segment of the global throat lozenges market due to the widespread availability of a wide variety of throat lozenges, the growing prevalence of sore throat and cough and cold, and the growing geriatric population in the region. The geriatric population is a major consumer of throat lozenges and is thus likely to remain a key factor in the throat lozenges market’s growth in North America over the forecast period. The widespread prevalence of cold and dry atmospheric conditions in North America is also likely to be a major driver for the throat lozenges market in the region, as throat conditions prosper in such conditions.
Europe is the second largest regional market for throat lozenges and is likely to retain a solid share in the global market over the forecast period.
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Asia Pacific is likely to exhibit steady growth in the global throat lozenges market due to the growing distribution network of throat lozenges in the region, the growing vehicular and industrial air pollution in developing countries such as China, Japan, Korea, and India, and the increasing efforts by local players to cash in on the opportunity.
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