Throat Lozenges Global Market Report 2024

The throat lozenges market has grown strongly in recent years. It will grow from $4.89 billion in 2023 to $5.16 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%.The growth observed in the historical period can be linked to a higher occurrence of throat discomfort, a rise in consumer awareness and self-care practices, a preference for natural and herbal ingredients, shifts in lifestyles and environmental factors, as well as effective marketing and branding strategies.

The throat lozenges market is expected to see strong growth in the next few years. It will grow to $6.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in the forecast period is associated with the ongoing prevalence of respiratory conditions, advancements in flavor profiles, the expansion of e-commerce and online retail, the rise of health and wellness trends, and increased global awareness of respiratory health. Major trends expected in the forecast period encompass the growth of e-commerce, targeted marketing strategies for specialty formulations, the impact of global health events, the incorporation of soothing herbs and extracts, and an emphasis on customization and personalization.

The anticipated growth in the throat lozenges market is driven by the increasing prevalence of respiratory diseases. Respiratory diseases encompass conditions affecting the lungs and other parts of the respiratory system. Throat lozenges play a role in treating respiratory tract infections and diseases. As of September 2022, the Forum of International Respiratory Societies (FIRS) reported that approximately 200 million people globally are afflicted with chronic obstructive pulmonary disease (COPD), resulting in around 3.2 million annual deaths. Consequently, the rising prevalence of respiratory diseases is expected to boost the throat lozenges market.

The expanding prevalence of flu illnesses is anticipated to contribute to the growth of the throat lozenges market. Flu illnesses, caused by influenza viruses, are contagious respiratory conditions affecting the nose, throat, and sometimes the lungs. Throat lozenges provide relief by stimulating saliva production, soothing dry or irritated throats associated with flu illnesses. According to the Centers for Disease Control and Prevention (CDC), in the US during the 2021-22 period, there were approximately 9.4 million flu illnesses, leading to 4.3 million flu-related medical visits. Furthermore, the same period saw around 4,900 flu-related deaths and 100,000 flu-related hospitalizations. Hence, the growing prevalence of flu illnesses is a driving factor for the throat lozenges market.

The throat lozenges market is witnessing a notable trend in the introduction of innovative product offerings. Major companies within the throat lozenges market are actively launching diverse and inventive products to maintain and enhance their market standing. For example, in July 2022, Taiho Pharmaceutical Co Ltd., a Japan-based pharmaceutical company, unveiled the PITAS throat troche series - a range of film-type lozenges designed to alleviate throat pain, swelling, and discomfort. These lozenges adhere to the roof of the mouth, ensuring discreet use and effectiveness even during conversation. The PITAS Medical Troche is specifically formulated as a designated quasi-drug for mouth and throat disinfection.

Leading companies in the throat lozenges market are concentrating on developing alternative products such as sore throat relief sprays to establish a competitive advantage. Sore throat relief spray is a topical medication administered to the throat via a spray mechanism, providing temporary pain relief and soothing effects for minor throat irritation and discomfort. In November 2021, Mucinex, a US-based provider of multiple symptom relief solutions, launched the Mucinex InstaSoothe Sore Throat + Pain Relief Spray. This spray, featuring dual potent pain relievers - menthol and benzocaine - temporarily alleviates pain and soothes the throat. The alcohol-free spray quickly numbs pain and assists with minor irritation and pain associated with conditions such as canker sores, sore throats, and sore mouths. The spray is available in a pleasant cherry flavor and is conveniently packaged in a pump dispenser bottle for easy application.

In July 2021, Verfora, a Switzerland-based pharmaceutical company, acquired Spagyros Ltd. for an undisclosed amount. This strategic acquisition positions Verfora to fortify pharmacies and drugstores by adding a range of products that necessitate intensive consultation, thereby enhancing the company's leading position in the Swiss consumer healthcare market. Spagyros Ltd., the acquired company, specializes in the manufacturing of phytotherapy and complementary medicines, including sore throat lozenges and cold drops.

Major companies operating in the throat lozenges market report are GlaxoSmithKline plc, SSL International plc, Thornton & Ross, Pfizer Inc., The Procter & Gamble Company, Bausch Health Companies Inc., Wrigley Company, Reckitt Benckiser Group plc, Gepach International, Bliss GVS Pharma Ltd., Sanofi S.A, Ricola AG, Honibe, Ernest Jackson & Co Ltd., Doetsch Grether AG, Mondelēz International group, Cloetta AB, Golden Throat, Fisherman's Friend, Prestige Brands Inc., HALLS, Dabur India Limited, Churub, Strepsils, Hydrocortisone, Lidocaine, Benzocaine, Phenol, Menthol, Eucalyptus, Cepac, Chlorhexidine, Alcohol, Sucrose, Sorbitol, Mannitol.

North America was the largest region in the global throat lozenges market in 2023. Asia-pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the throat lozenges market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the throat lozenges market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Throat lozenges come in various types, including hard candy lozenges, soft lozenges, and compressed lozenges. Hard candy lozenges are characterized by their amorphous or glassy state and are used as a form of medication to provide pain relief in the mouth and pharynx, particularly for sore throats. The ingredients in throat lozenges encompass menthol, mint, eucalyptus oil, peppermint oil, honey and ginger, lemon, and others. These lozenges are available through different distribution channels such as hospital pharmacies, retail pharmacies, online pharmacies, and others, offering treatment for conditions such as sore throat, cough and cold, as well as various throat ailments.

The throat lozenges market research report provides throat lozenges market statistics, including throat lozenges industry global market size, regional shares, competitors with a throat lozenges market share, detailed throat lozenges market segments, market trends, and opportunities, and any further data you may need to thrive in the throat lozenges industry. This throat lozenges market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The throat lozenges market consists of sales of chewable and cough drops. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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