The latest report published by Market Research Future (MRFR) reveals that the Global Market for Throat Lozenges will surpass a valuation of USD 6000 Mn by the year 2023. Throat lozenges have been receiving a positive response from consumers. Being an easily available OTC product, throat lozenges sales remain strong globally. In addition, they can be easily consumed having no unpleasant taste or smell unlike other medicines.
Brands are introducing new flavors to offer more options to consumers, which is impacting positively on the market. Over the years, throat lozenges have become more effective in providing relief. Cold and cough is extremely common all over the world, which continues to drive the demand for treatments and medications that are aimed towards it. The factors are supporting the growth of throat lozenges market. The market is projected to witness a compound annual growth rate of 4.20% during the assessment period (2018-2023).
Global Throat Lozenges Market – Competitive Landscape
Bausch Health Companies Inc, Procter & Gamble, Prestige Brands Inc, Wrigley Company, Reckitt Benkiser Group plc, Gepach International, Bliss GVS Pharma Ltd, Thornton & Ross, Ricola AG, Ernest Jackson, Mondelēz International group, GlaxoSmithKline, Pfizer Inc., Doestsch Grether AG are some of the leading companies profiled in MRFR’s report.
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Procter & Gamble accounted for 18.5% of the global throat lozenges market share in 2017. It is one of the largest and fastest growing market players in consumer goods and healthcare segments.
Mondelez International group accounted for the second-largest market share of 17.3% in 2017. It operates in around 160 countries and is one of the major players in the throat lozenges market.
Reckitt Benckiser Group plc has a presence in more than 60 countries and deals in four business segments, namely health, hygiene, home, and portfolio brands. The company accounted for 15.2% of the total market share in 2017.
Thornton & Ross holds the fourth position in the global throat lozenges market with a market share of 3.6%. It is one of the largest Over the Counter (OTC) medicine manufacturers in the UK and exports the products to more than 80 countries, around the globe.
GlaxoSmithKline plc operates in four segments, namely pharmaceuticals, pharmaceuticals R&D, vaccines, and consumer healthcare. The company offers healthcare products in the form of tablets, caplets, infant syrup drops, syrups, topical gels, nasal sprays, effervescent, lozenges, gum, and transdermal patches. It holds the fifth position in the global throat lozenges market with a market share of 2.4%.
Global Throat Lozenges Market – Segmental Analysis
MRFR’s report include a descriptive segmental analysis of the market based on type, ingredient, and indication. By type, the market has been segmented into hard-candy lozenges, soft lozenges, and compressed lozenges. The hard-candy segment is further sub-segmented into chewy or caramel based medicated tablets and center filled hard-candy lozenges. The hard candy lozenges segment currently accounts for more than one-third share of the market and is expected to remain highly lucrative during the forecast period. In 2017, over USD 2400 Mn worth hard-candy lozenges were sold globally. By ingredient, the market has been segmented into menthol, eucalyptus oil, mint, peppermint oil, honey & ginger, lemon, and others. Among these, the menthol segment accounts for the largest market share. In 2017, the segment reached a market valuation in excess of USD 1700 Mn and projected to expand at a CAGR of 3.45% by 2023. By indication, the market has been segmented into cold and cough, sore throat, throat diseases, and others. The sore throat segment holds the pole position and the trend is likely to continue over 2023. The segment surpassed a market valuation of USD 2400 Mn in 2017.
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Global Throat Lozenges Market – Regional Analysis
The report also includes a regional analysis of the market that covers Europe, North America, Asia Pacific (APAC), South America and the Middle East & Africa (MEA). Currently, North America and South America collectively account for the largest market share. In 2017, the Americas accounted for more than 31% share of the market. North America in particular is expected to remain an important market for throat lozenges during the review period. Sales of OTC medial products including throat lozenges will continue to grow in the region in the years to come. Meanwhile, Europe has emerged as the single largest market for throat lozenges. Prevalence of common cold is considerably high in various parts of Europe, which acts as favorable element for the region’s throat lozenges market.
Major Table of Content
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope of the Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
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