The global throat lozenges market is likely to touch USD 6000 million at a 4.2% CAGR between 2018- 2023, as per the recent report by Market Research Future (MRFR). Throat lozenges or cough drops or cough sweet are used for stopping the cough temporarily. These tablets dissolve in the mouth to give relief from common cough. These lozenges help to lubricate and soothe tissues that are affected by common cold or influenza.

Various factors are adding to the Throat Lozenges Market Share. According to the new MRFR report, such factors include low-price, rapid product penetration especially in fast-developing countries, development of new ingredients, increasing aging population that is susceptible to a throat infection, new lifestyle that is responsible for reducing the immunity of the body, and the rising cases of colds and coughs. Besides, the rising numbers of HIV patients worldwide who suffer from throat infection are also adding market growth.

The COVID-19 outbreak had a positive impact on the throat lozenges market with cough & sore throat being the common symptoms of the novel coronavirus. People in home isolation are taking throat lozenges and OTC pain reliever for persistent cough and body aches, which is boosting the market growth. On the contrary, the availability of alternative therapies and treatments may impede the throat lozenges market growth over the forecast period.

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Competitive Landscape:

The global market for throat lozenges is getting ample backing from the strategic changes launched by companies like Bliss GVS Pharma Ltd, Doetsch Grether AG, Ernest Jackson, Thornton & Ross, GlaxoSmithKline, Bausch Health Companies Inc, Reckitt Benckiser Group plc, Prestige Brands Inc, Procter & Gamble, Ricola AG, Pfizer Inc., Wrigley Company, and Gepach International. These companies are known for their better market standing through upliftment in their portfolio. It gets enhanced by innovation, merger, collaboration, and acquisition. Other methods like branding and launching strategies help these companies to register better growth. Hike in spending on research projects would also inspire the market.

Segmentation:

MRFR’s report on the throat lozenges provides a descriptive analysis of type, ingredient, and indication. These segments have inputs and various reading of factors that help in gaining insights and understanding of the market scenario. In fact, these insights can help in future assessment of strategic moves that can ensure a better profit margin.

By Type, the throat lozenges market includes soft lozenges, hard-candy lozenges, and compressed lozenges. The hard-candy segment covers details of chewy or caramel based medicated tablets and center filled hard-candy lozenges. The segment has a coverage of around one-third share of the market and will remain highly lucrative in the coming years.
By Ingredient, the market on the throat lozenges can be segmented on the basis of eucalyptus oil, mint, menthol, honey & ginger, lemon, peppermint oil, and others. The menthol segment had the largest market share and it may continue to dominate the market. It is showing a growth opportunity with 3.45% CAGR during the forecast period.
By Indication, the market report contains segments like sore throat, throat diseases, cold and cough, and others. The sore throat segment has the opportunity to rule the market in the coming years.
Regional Analysis

Based on the region, the global throat lozenges market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, North America is predicted to lead the market over the forecast period. Increasing sales of over-the-counter medical products such as throat lozenges and the presence of key throat lozenges manufacturers are adding to the growth of the market in the region. The US & Canada are the major contributors in the region for the cold temperature that accentuates cold and cough.

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The global throat lozenges market in Europe is predicted to hold the second-largest share over the forecast period. The presence of large geriatric population, increasing prevalence of common cold, and Europe being the largest throat lozenges market is adding to the growth of the market in the region.

The global throat lozenges market in the APAC region is predicted to grow at a fast pace over the forecast period. The huge geriatric and pediatric population is adding to the growth of the market in the region.

The global throat lozenges market in Latin America and the MEA is predicted to have sound growth over the forecast period.