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Throat Lozenges - Global Market Trajectory & Analytics

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    Report

  • 407 Pages
  • July 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5302173

Global Throat Lozenges Market to Reach US$6.5 Billion by the Year 2026


Throat lozenge, also referred to as cachou cough drop, cough sweet or troche, constitutes a medicated tablet that dissolves in the mouth, slowly, and stops cough. The small tablet works by soothing and lubricating irritated tissues of the throat and thus pacifying a strep or sore throat caused by common cold or influenza. Growth in the global market is driven by the growing incidence of sore throat, cough and cold. Cold & cough are common diseases worldwide and sore throat lozenges are used as first-line treatments, which is also a prominent market growth promoting factor. Another major factor driving growth is the rise in geriatric population that is at the higher risk of contracting infections because of their lower immunity levels. Furthermore, Increasing HIV penetration is also a major market growth promoting factor because HIV patients are at greater risk of developing infections. Decreased immunity in people due to dietary habit changes and lifestyles becoming more sedentary also increase demand for the lozenges as the factors lead to increased throat infections. The global market for throat lozenges has been positively impacted by the ongoing COVID-19 pandemic. Cough and sore throat are common COVID-19 symptoms.

Amid the COVID-19 crisis, the global market for Throat Lozenges estimated at US$5.4 Billion in the year 2022, is projected to reach a revised size of US$6.5 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Hard Candy, one of the segments analyzed in the report, is projected to grow at a 5.2% CAGR to reach US$4.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Soft segment is readjusted to a revised 4% CAGR for the next 7-year period. This segment currently accounts for a 21.5% share of the global Throat Lozenges market. Hard candy lozenges are popular due to its easy availability in a variety of shapes, sizes and flavors.

The U.S. Market is Estimated at $1.3 Billion in 2022, While China is Forecast to Reach $1.1 Billion by 2026


The Throat Lozenges market in the U.S. is estimated at US$1.3 Billion in the year 2022. The country currently accounts for a 24.26% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.1 Billion in the year 2026 trailing a CAGR of 6.5% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 4.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.5% CAGR while Rest of European market (as defined in the study) will reach US$338.2 Million by the end of the analysis period. North America is the largest market for throat lozenges attributed to the many awareness programs focused on alleviating infectious diseases in the region and also to the presence of many major manufacturers of throat lozenges. Cold weather of the region that accentuates microorganisms growth leading to infections of the throat, also contributes to market growth in the region. Europe is another key market and growth is attributed to the major presence of geriatric population and cold weather factors.

Continuous innovations and new product launches fortified with natural herbs and ingredients is expected to sustain growth in the market. Reckitt, manufacturer of OTC cough and cold products, announced the launch of a new product line, namely Mucinex InstaSoothe. The new product line comprises of throat lozenges and sprays formulated to soothe and relieve sore throat pain. Mucinex InstaSoothe Sore Throat + Soothing Comfort Lozenges, available in honey and echinacea flavors, and formulated with real honey and hexylresorcinol are designed to quickly soothe and relieve. Herbal remedies have long been used to treat infections and viruses such as the common cold, influenza, fever and herpes. Herbs that may benefit the immune system include echinacea, garlic, ginseng, and reishi mushrooms. Echinacea has been shown to reduce the severity and duration of bacterial and viral infections such as the common cold. Ginseng can boost the immune system by regulating immune cells, like T cells, that can help the body to fight off threats. Consuming garlic is also beneficial for the immune system, since it contains allicin, a compound that has antibacterial properties. Allicin can help fight chest infections and respiratory infections. Consumers over the age of 50 years are prominent users of vitamins and herbal supplements. The aging population is usually at a higher risk of contracting diseases or falling ill. This is pushing demand for various products that enhance general body health and boost immunity, and which are cost competitive when compared to relatively steeper priced pharmaceutical products. With increase in standard of living of various ethnic groups, manufacturers are increasingly focusing attention to develop products to meet requirements specific to these groups. Traditional Medicinals, seller of wellness tea, launched Throat Coat Lozenges containing menthol and pectin, as well as herbal extracts and essential oils. Throat Coat Lozenges are available in eucalyptus mint, sweet orange fennel and lemon ginger echinacea, with the former two containing menthol and the latter containing pectin.

Compressed Segment to Reach $1.1 Billion by 2026


Compressed lozenges are long lasting because of their prolonged dissolution, thus providing extended relief to people suffering from sore throat. In the global Compressed segment, USA, Canada, Japan, China and Europe will drive the 4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$674.7 Million will reach a projected size of US$894.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$157.7 Million by the year 2026, while Latin America will expand at a 4.5% CAGR through the analysis period.

Select Competitors (Total 87 Featured):

  • Bliss GVS Pharma Ltd.
  • GlaxoSmithKline Plc
  • Honibe
  • Prestige Consumer Healthcare Inc.
  • Procter & Gamble (P&G) Company
  • Reckitt Benckiser Group Plc
  • Ricola AG
  • Sanofi S.A
  • Thornton & Ross Ltd.
  • Traditional Medicinals, Inc.

What`s New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the digital archives
  • Complimentary updates for one year

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • Throat Lozenges - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
  • A Prelude to Throat Lozenges
  • Impact of Covid-19 and a Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • The Never-Ending “Race” Between the Virus & Vaccines Continues. Amidst this Chaotic Battle, Where is the World Economy Heading Now & Beyond?
  • Omicron Spreads Panic Worldwide; Omicron Variant Brings Back Memories & Fears of the Worst Part of the 2020 Pandemic
  • Short-term Impact of Omicron on Travel
  • Financial Impact
  • Steps taken by the Countries to Prevent Transmission of Omicron Variant
  • Pharma Firms Aim to Improve Existing Vaccines to Counter Omicron
  • With IMF Making an Upward Revision of Global GDP for 2021, Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
  • A Strong Yet Exceedingly Patchy & Uncertain Recovery Shaped by New Variants Comes Into Play: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • Throat Lozenges for Treating Common Cold and Cough See Increased Uptake amid the Pandemic
  • Global Market Overview and Prospects
  • Throat Lozenges Market to Witness Rapid Growth
  • Recent Market Activity
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
  • Rising Prevalence of Pharyngitis to Drive Throat Lozenges Market
  • Geriatric Population: A Key Demographic Segment Driving Demand for Throat Lozenges
  • Expanding Elderly Population Worldwide: Breakdown of Number of People Aged 65+ Years in Million by Geographic Region for the Years 2019 and 2030
  • Elderly Population (65+ Years) as a % of Total Population by Developed, Less Developed and Least Developed Regions: 2019 & 2030
  • Lozenges Score High Among Immunocompromised HIV Patients
  • Rising Demand for OTC Products Augurs Well
  • Rising Air Pollution Responsible for Growing Incidences of Respiratory Allergies Drives the Demand for Throat Lozenges
  • Throat Lozenges: Recent Advancements
  • A Throat Lozenge That Combines Benzydamine Hydrochloride and Cetylpyridinium Directly Influences SARS-CoV-2’s Virucidal Effect
  • Rising Health Consciousness and Trend of Self-Medication to Offer Immense Growth Opportunities
  • Increased Focus on Self-care Amidst Covid-19 Pandemic to Give a Boost to Market Prospects
  • Continuous Innovations and New Product Launches Drive Market Growth
4. GLOBAL MARKET PERSPECTIVEIII. MARKET ANALYSIS
UNITED STATES
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
CANADA
JAPAN
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)
CHINA
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
EUROPE
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
FRANCE
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)
GERMANY
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)
ITALY
UNITED KINGDOM
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)
SPAINRUSSIAREST OF EUROPE
ASIA-PACIFIC
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
AUSTRALIA
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)
INDIA
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Throat Lozenges Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)
IV. COMPETITION
  • Total Companies Profiled: 87

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Bliss GVS Pharma Ltd.
  • GlaxoSmithKline Plc
  • Honibe
  • Prestige Consumer Healthcare Inc.
  • Procter & Gamble (P&G) Company
  • Reckitt Benckiser Group Plc
  • Ricola AG
  • Sanofi S.A
  • Thornton & Ross Ltd.
  • Traditional Medicinals, Inc.