The Market is forecasted to account for upsurge accretions by 2023 with a CAGR of 3.5% during 2017 and 2023.
The Throat Lozenges market is accruing and expected to gain further prominence over the forecast period mainly due to the growing prevalence of influenza or common cold and Throat infections. According to a recent study report published by the Market Research Future, The global market of Throat Lozenges is projected to accrue at a rapid pace during the forecast period. Global Throat Lozenges Market is majorly driven by increasing prevalence of allergy and common cold. According to WHO, every year 10-15% of the world’s population suffers from common cold. Increasing awareness among the people about the management of the common diseases and increasing need for less healthcare expenditure has driven the growth of this market. Sometime Throat Lozenges are used to get relief form the short term cold and cough. Increasing pickin (children) and geriatric population and launching of many different products has provided fuel for the growth of the market. Whereas short term relief effect may restrain the growth of the market.
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Top Key Players of Throat Lozenges Market:
Bliss GVS Pharma Ltd (India), GlaxoSmithKline Pharmaceuticals Limited (UK), Thornton & Ross, Pfizer, Inc. (US), Procter & Gamble (P&G) (US), united confections(US), August Storck KG (Germany), Roshen Confectionery Corp (Ukrain), Crown Confectionery Co. Ltd. (South Korea), CRM Group (Brazil), United Confections Throat lozenge (UK), Yildiz Holding (Turkey), Ezaki Glico Co., Ltd. (Japan), and Perfetti (Italy), Hershey Foods Corp. (US) are some of the prominent players profiled in MRFR Analysis and are competing in the Global Throat Lozenges Market
Characterized by the presence of several major players, having international recognition; the global market of Throat Lozenges appears to be highly fragmented and competitive. Marketers compete based upon price and brand reinforcement. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position.
Manufacturers are expanding their product portfolio by introducing various fruit, honey and exotic flavours. Honeydew flavoured Throat drop is one of the most popular Lozenges flavours across the globe. Availability of various Cough drops play the key role in Throat Lozenges market growth.
On regional basis, America commands the largest the Throat Lozenges Industry due to increasing awareness of among the people and changing lifestyle which is responsible for reducing immunity of the body. Europe accounts for the second largest market which is followed by Asia Pacific. However Asia Pacific is expecting a faster growth for the market due to presence of huge paediatric and geriatric population.
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