Throat Lozenges Market Share

Global Throat Lozenges Market Overview

Throat Lozenges Market Size was valued at USD 4.9 Billion in 2022. The Throat Lozenges market industry is projected to grow from USD 5.13 Billion in 2023 to USD 7.47 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.80% during the forecast period (2024 - 2032).The increasing incidence of disorders leading to sore throats and product innovation are the key market drivers contributing to market growth and revenue. 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Throat Lozenges Market Trends

• The growing incidence of disorders leading to sore throats drives market growth.

Market CAGR for throat lozenges is driven by the rising incidence of disorders leading to sore throats. Throat lozenges are offered in bulk and are inexpensive to relieve throat pain triggered by breathing-related illnesses or colds. Similarly, the rising number of people living with HIV worldwide is driving the rise of requests for throat lozenges, as HIV patients frequently suffer from mouth infections. Furthermore, changing behaviors will increase the need for throat lozenges, as contemporary living has been accountable for lowering the body's immunity. These are available in various flavors and OTC, making them convenient for patients. Throat lozenges don't need a physician's prescription, leading to the medication's rapid commercialization.

Additionally, advancements in personal care for sore throats and coughs and the simplicity of obtaining these things encourage consumer movement. Throat lozenge manufacturers continue to use marketing tactics to increase the market awareness of their products. Other variables influencing the worldwide popularity of Throat Cancer include the development of new products, quick adoption of the product in rapidly emerging areas, and cheap Throat Lozenges pricing.

COVID-19 is anticipated to have a beneficial impact on the Throat Lozenges Industry. COVID-19 symptoms include throat pain and coughing. As a result, those under isolation in their homes have been employing COVID-19 home medicines such as lozenges for the throat for persistent coughs and OTC pain relievers for bodily pains. As a result, the growing need for throat lozenges as a remedy for early COVID-19 signs such as coughing and throat discomfort is likely to fuel the expansion of the throat lozenges industry over the next 2-3 years. The growing need for throat lozenges has led to increased throat lozenge manufacture by enterprises from many industries.

For instance, as per World Health Organization, approximately 2 billion people will be geriatric by 2050, with the senior population expected to be 524 million in 2010. The aging population will fuel market expansion as more people suffer from throat infections, necessitating higher use of throat lozenges. Therefore, demand for Throat Lozenges is expected to increase throughout the projection timeframe due to the rising incidence of disorders leading to sore throats and the aging population. Thus, driving the Throat Lozenges market revenue.

Throat Lozenges Market Segment Insights

Throat Lozenges Type Insights

The throat lozenges market segmentation, based on type, includes hard candy lozenges, soft lozenges, and compressed lozenges. The hard candy lozenges dominated the market, accounting for 48% of the market share (USD 2.4 billion) in 2022. Category growth is driven due to its various forms, sizes, and flavors, making them extremely popular with individuals of all ages. Compressed lozenges are predicted to be the fastest-growing category due to their long shelf life and breakdown time.

Figure 1: Throat Lozenges Market, by Type, 2022 & 2032 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Throat Lozenges Ingredient Insights

The throat lozenges market segmentation, based on ingredients, includes menthol, mint, eucalyptus oil, peppermint oil, honey & ginger, lemon, and others. The Menthol category generated the highest revenue of about 40% (USD 2.0 billion) in 2022. This is because of its popularity and amazing flavor, which have propelled it to supremacy. Eucalyptus oil is predicted to be the fastest-growing area since it has traditionally been utilized as an antibacterial ingredient with persistent calming effects, thus growing in popularity.

Throat Lozenges Indication Insights

The throat lozenges market segmentation, based on indication, includes sore throat, cough and cold, and throat diseases. The SORE throat segment dominated the market, accounting for 35% of the market share (USD 1.72 billion) in 2022. The cough and cold category are anticipated to grow steadily as a contagious feature of cough and cold when combined with an increased incidence of common cold, is likely to drive the overall growth of this market during the projected timeframe. 

Throat Lozenges Regional Insights

By region, the research provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Throat Lozenges market area will dominate this market, owing to an increase in the aging and elderly population. In addition, increased government investment and the availability of diverse product alternatives drive the throat lozenges industry in this region.

Further, the major countries studied in the market report are the US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Throat Lozenges Market Share by Region 2022 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe region’s Throat Lozenges market accounts for the second-highest market share and revenue due to increased government expenditure and a rising birth rate. In addition, many throat lozenge providers have emerged in the area, coupled with the accessibility of various product offers. Further, the German Throat Lozenges market holds the largest market share, and the UK Throat Lozenges market is expected to grow and expand rapidly in the European region during the projected timeframe.

The Asia-Pacific Throat Lozenges Market is expected to grow significantly at the fastest growth rate during the projected timeframe. This is due to rapid economic growth, increased awareness of OTC drugs, and affordability. The region has a young population and an expanding aging population, which contributes to the overall growth of this market. Moreover, China’s Throat Lozenges market dominates the market share, and the Indian Throat Lozenges market is anticipated to grow steadily in the Asia-Pacific region during the projected timeframe.

Throat Lozenges Key Market Players & Competitive Insights

Leading market players invested heavily in research and development (R&D) to scale up their manufacturing units and product lines, which will help the Throat Lozenges grow worldwide. Market participants are also undertaking various organic or inorganic strategic approaches to strengthen and expand their footprint, with important market developments including new product portfolios, contractual deals, mergers and acquisitions, capital expenditure, higher investments, and strategic alliances with other organizations. Businesses are also coming up with marketing strategies such as digital marketing, social media influencing, and content marketing to increase their scope of profit earnings. The Throat Lozenges industry must offer cost-effective and sustainable options to survive in a fragmented and dynamic market climate.

Manufacturing locally to minimize operational expenses and offer aftermarket services to customers is one of the key business strategies organizations use in the Throat Lozenges industry to benefit customers and capture untapped market share and revenue. The Throat Lozenges industry has recently offered significant advantages to the medicine and service industry. Moreover, more industry participants are utilizing and adopting throat lozenges, and cutting-edge technology has grown substantially. Major players in the Throat Lozenges market, including Bausch Health Companies Inc, Procter & Gamble, Prestige Brands Inc, Wrigley Company, Reckitt Benckiser Group plc, Gepach International, Bliss GVS Pharma Ltd, Thornton & Ross, Ricola AG, Ernest Jackson, Mondelēz International group, GlaxoSmithKline, Pfizer Inc., Doestsch Grether AG, are attempting to expand market share and demand by investing in research and development (R&D) operations to produce sustainable and affordable solutions.

Moberg Pharma AB develops and manufactures topical skin treatments. It is a fast-expanding Swedish pharma firm that sells patented, acquired, and licensed pharmaceuticals globally. The company is developing creams and lotions for nail fungal infection, chapped and cracked skin, anal cracks, and actinic keratosis. MOB-015, the company's principal product, is a revolutionary topical medication for onychomycosis. It focuses only on the production and sale of healthcare goods. Moberg Pharmaceutical has business partnerships in Europe and Canada. Moberg Pharma and its subsidiary announced the issuance of a BupiZenge related to a European patent in January 2021. The new invention includes a bupivacaine-containing prolonged-release lozenge used to cure or relieve oral cavity pain.

Vitabeauti.com is an Online retailer or website established in Laguna Beach, California, that provides nutritional, wellness, aesthetics, cosmetics, skincare, teeth whitening, vitamins, and supplements to clients at the most inexpensive and lowest costs. The officially licensed Cool Day revitalizing lozenges are now available online at Vitabeauti.com, a leading fitness and health e-commerce site in the USA, In July 2020.

Key Companies in the Throat Lozenges market include

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  Mondelēz International group

  
  


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  Doetsch Grether AG

  
  


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  Bliss GVS Pharma Ltd

  
  


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  GlaxoSmithKline

  
  


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  Ernest Jackson

  
  


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  Thornton & Ross

  
  


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  Reckitt Benckiser Group plc

  
  


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  Bausch Health Companies Inc

  
  


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  Ricola AG

  
  

Throat Lozenges Industry Developments

January 2021: Moberg Pharma and its subsidiary announced the issuance of a BupiZenge related to a European patent in January 2021. The new invention includes a bupivacaine-containing prolonged-release lozenge used to cure or relieve oral cavity pain.

July 2020: The officially licensed Cool Day revitalizing lozenges are now available online at Vitabeauti.com, a leading fitness and health e-commerce site in the USA.

March 2020: In response to the COVID-19 dilemma, Uncle Joe's Mint Balls switched manufacturing to its Throat & Lung and Herbal Cough lozenges in March 2020.

Throat Lozenges Market Segmentation

Throat Lozenges Type Outlook

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  Hard candy lozenges

  
  


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  Soft lozenges

  
  


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  Compressed lozenges

  
  

Throat Lozenges Ingredient Outlook

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  Menthol

  
  


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  Mint

  
  


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  Eucalyptus oil

  
  


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  Peppermint oil

  
  


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  Honey & Ginger

  
  


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  Lemon

  
  


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  Others

  
  

Throat Lozenges Indication Outlook

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  Sore throat

  
  


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  cough and cold

  
  


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  Throat diseases

  
  

Throat Lozenges Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America