THROAT LOZENGES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Throat Lozenges Market Size and Trends

Global throat lozenges market is estimated to be valued at USD 4.59 Bn in 2024 and is expected to reach USD 6.80 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.

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Rising prevalence of common cold and flu is expected to drive the market growth. Changing lifestyle and increasing pollution levels have made population more prone to respiratory illnesses. Busy work schedules leave little time for proper rest and recovery, and this boosts demand for quick relief products such as throat lozenges. Moreover, growing health consciousness among consumers has shifted the focus from cure to prevention. Many consumers prefer using throat lozenges on signs of sore throat to curb the growth of infection. Manufacturers are leveraging these trends by introducing throat lozenges with added vitamins and natural ingredients that claim overall throat protection. Product innovations such as fast dissolving and flavored lozenges targeted at pediatric demography can also drive the market growth.

Market Driver – Growing Prevalence of Cough and Cold

 The instances of cough, cold, sore throat and flu increases drastically across all regions of the world during winter season. As people spend more time indoors due to dropping temperatures, various airborne viruses easily spread among individuals. Children and elderly are more vulnerable to such seasonal illnesses during this time frame. Throat lozenges provide instant relief to patients suffering from cough, cold or sore throat. The candy like lozenges coated with medicated ingredients soothe the throat and suppress the cough. Many brands offer a wide variety of flavors catering to all age groups. With effective ingredients like menthol or eucalyptus oil, throat lozenges have become the go-to remedy for common winter illnesses without any side effects. Increased marketing and promotion by lozenges manufacturers raises awareness among general public regarding the benefits of these products. Growing self-medication trend coupled with easy availability across multiple retail channels boosts demand for throat lozenges healthcare ecosystem.

Increasing adoption of organic growth strategies such as product launches by key market players is expected to drive the market growth over the forecast period. For instance, in May 2022, Procter & Gamble, a consumer goods company, launched Tulsi flavored lozenges. This new flavor ‘Tulsi’ strengthens Vicks Cough Drops’ pocket-sized portfolio which relieves soreness in the throat.