Throat lozenges are medicated candy or cough drops that provide relief for sore and irritated throat. They contain active ingredients like menthol, chamomile, echinacea and zinc to relieve throat irritation, cough and cold symptoms. The increased prevalence of seasonal flu and common cold has spiked the demand for throat lozenges. Being an over-the-counter product sold without prescription, throat lozenges offer convenient relief from throat discomfort. Rapid growth in e-commerce has also expanded access and availability of a variety of throat lozenge products.
Global throat lozenges market is estimated to be valued at US$ 6.80 Bn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Throat Lozenges Market Size are Novartis AG, Cipla, Procter & Gamble, GSK plc, Sanofi, Lozen Pharma, Bliss GVS Pharma Ltd., Honibe, Ricola, Prestige Consumer Healthcare Inc., Traditional Medicinals, Inc, Mondelēz International, Inova Pharmaceuticals, Johnson & Johnson Services, Inc., Reckitt Benckiser Group PLC. These players are investing in expanding their product lines, strengthening distribution channels and conducting awareness programs.
The global prevalence of common cold and flu creates ample opportunities for throat lozenges manufacturers to introduce new formulations, flavors and product variants. E-commerce platforms have opened vast opportunities for throat lozenge companies to reach new customer segments and expand into worldwide markets. Brands are emphasizing on product innovation, marketing campaigns and sponsorships to expand consumer base.
Throat lozenges market is anticipated to witness steady growth in developing regions of Asia Pacific, Latin America, Middle East and Africa owing to rising health awareness, improved access to healthcare products and surge in disposable incomes. Major companies have initiated global expansion initiatives through collaborations with regional players.
Market Drivers
Increased occurrence of seasonal influenza, common cold and throat infections due to changing weather conditions and environments acts as a key growth driver. Rising health consciousness and awareness regarding common throat problems also promotes market growth. Self-medication trend for minor throat discomforts without medical prescriptions augments the demand. Escalating e-commerce and m-commerce further expands market reach.
Market Restrains
Overuse of throat lozenges consisting of menthol and other ingredients may cause potential side effects like diarrhea and constipation. Certain lozenges are not suitable for children below 5 years. This limits mainstream usage. Availability of alternative treatment options like sugar-free throat spray and syrups also challenges market growth to some extent.
Segment Analysis
The throat lozenges market is dominated by the medicated lozenges sub-segment. Medicated lozenges provide temporary relief of minor sore throat pains and throat irritations caused due to cough and cold. They help soothe irritated or sore throat by coating and numbing the throat. Prominent medicated lozenges include honey-lemon lozenges, menthol lozenges, eucalyptus lozenges, and vitamin C lozenges. Due to their effectiveness, convenience, and fast action, medicated lozenges are rapidly replacing throat sprays and syrups for minor sore throat issues.
Global Analysis
North America currently dominates the global throat lozenges market. The high prevalence of respiratory illnesses like flu and cold requiring temporary throat relief drives the market in the region. Additionally, the region has a well-established healthcare infrastructure and high healthcare expenditure. This enables easy availability and adoption of throat lozenges for symptomatic relief. The Asia Pacific region is projected to experience the fastest growth during the forecast period due to increasing use of lozenges in emerging countries like China and India arising from growing awareness and improving spending power.
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