The frequent changes in season drawn by several external factors have led to a drastic increase in the prevalence of common cold and flu. With the exponential and round the year increase in the patient population, the sales of the first level medication such as throat lozenges are expected to skyrocket in the years to come. This, in turn, is expected to boost the growth pace of the market for throat lozenges.
Key players are focusing on the introduction of more effective formulas for capitalizing on the thriving demand. Flavor innovation is one of the major factors responsible for the proliferation of the throat lozenges market over the next couple of years. On the flip side, the increasing popularity of alternatives such as cough syrups, throat sprays, and antiseptic gargling solutions are poised to undermine the expansion of the throat lozenges market in the forthcoming years.
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Throat Lozenges Market – Competitive Dashboard
The key players profiled in this MRFR report are
- Bliss GVS Pharma Ltd.
- Gepach International
- Ricola AG
- Thornton & Ross
- Mondelēz International group
- Pfizer Inc.
- GlaxoSmithKline
- Doestsch Grether AG
- Wrigley Company
- Ernest Jackson
- Reckitt Benkiser Group plc
- Procter & Gamble
- Prestige Brands Inc
- Bausch Health Companies Inc
Throat Lozenges Market – Segmentation
By type, the Global Throat Lozenges Market has been segmented into hard-candy lozenges, soft lozenges, and compressed lozenges. The hard-candy segment has been further sub-divided into center filled hard-candy lozenges and chewy or caramel based medicated tablets. Among these, the hard-candy lozenges segment is projected to retain its pole position across the assessment period.
By ingredient, the Throat Lozenges Market has been segmented into menthol, eucalyptus oil, mint, peppermint oil, honey & ginger, lemon, and others. The menthol segment currently holds the maximum market share and is anticipated to thrive at a CAGR of 3.45% during the projection period.
By indication, the global throat lozenges market has been segmented into cold and cough, sore throat, throat diseases, and others. Among these, the sore throat segment is poised to maintain its pole position over the next couple of years. The segment was valued at over USD 2400 Mn in 2017 and is forecasted to register a moderate CAGR over the review period.
Throat Lozenges Market – Regional Analysis:
The Global Throat Lozenges Market, by region, has been segmented into Europe, South America, Asia Pacific (APAC), North America and the Middle East & Africa (MEA). North America is likely to hold a substantial share of the market owing to rising sales of OTC products. Also, the region is endowed with a wide variety of products and are available on a larger scale. This, in turn, is presumed to support the expansion of the regional throat lozenges market in the years to come. The presence of major industry leaders has led to the adoption of a broader variety of flavors which is further expected to propel the expansion of the market in the region. The U.S. is presumed to emerge as the most significant country-level market in the region over the forecast period.
Europe is one of the most substantial markets due to its colder climate which is conducive for the common cold. The rising prevalence of common cold is expected to motivate the growth pattern of the throat lozenges market in the region over the next couple of years. Asia Pacific is expected to strike a comparatively higher CAGR of 4.77% over the assessment period. The factors that are responsible for encouraging the expansion of the market are rapid economic development, increasing awareness about OTC medication, etc.
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