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

Global throat lozenges market is estimated to be valued at USD 4.59 Bn in 2024, and is expected to exhibit a CAGR of 5.8% during the forecast period (2024-2031). Throat lozenges are medicated candies or tablets that are intended to relieve throat irritation and soreness. Factors such as increasing prevalence of common cold, cough and other throat infections across regions boosts demand for throat lozenges. Rising health awareness and preference for over-the-counter medications for quick relief  are expected to drive the market growth. The availability of throat lozenges in a wide range of flavors, catering to different consumer preferences, has boosted their popularity. However, alternative treatment options and lack of awareness in some emerging nations can hamper the market growth.

Market Dynamics:

Global throat lozenges market growth is driven by growing incidence of throat infections due to changing lifestyles and climatic conditions. Rising pollution levels in urban areas have increased the risk of throat irritation among city dwellers and busy schedules and higher stress levels have weakened immunity. This has boosted the need for fast relief from throat problems without medical intervention, thus, boosting sales of throat lozenges. However, factors such as side-effects of excessive lozenge intake and availability of alternative treatment in the form of throat sprays and gargles hampers the market growth. Companies are exploring opportunities to launch organic and herbal formulations to cater to health-conscious consumers. Focus on new flavors of these lozenges can offer new opportunities for the market growth.

Key Features of the Study:

• This report provides an in-depth analysis of the global throat lozenges market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global throat lozenges market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this includes 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.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• Global throat lozenges market caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global throat lozenges market.

Detailed Segmentation-

• By Product Type:
  • Hard candy lozenges
  • Soft lozenges
  • Compressed lozenges
• By Indication:
  • Sore throat
  • Cough and Cold
  • Throat diseases
• By Type:
  • OTC
  • Prescription
• By Distribution Channel:
  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Pharmacies
• By Region:
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East
  • Africa

Company Profiles:

• 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