About Throat Lozenges
Throat Lozenges is a small medical sweet which is used to temporarily stop the cough and to release sweet medical juice which helps throat tissues to relax on a temporary basis. These lozenges are used when a person is suffering from a cold, cough or some throat infections. As these are an easily available over the counter (OTC) product, hence making the sales of these lozenges remains strong globally. As per the World Health Organization (WHO), it is said that by 2050 nearly 2 billion populations will belong to the geriatric population. Hence the extremely cold temperature in some countries coupled with an increasingly aging population is driving the market for throat lozenges in forecasted years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.4% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Throat Lozenges market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Bliss GVS Pharma Ltd (India), GlaxoSmithKline Pharmaceuticals Limited (United Kingdom), Thornton & Ross, Pfizer, Inc. (United States), Procter & Gamble (P&G) (United States), United confections (Europe), August Storck KG (Germany), Roshen Confectionery Corp (Ukraine), Crown Confectionery Co. Ltd. (South Korea), CRM Group (Brazil) and Yildiz Holding (Turkey) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ezaki Glico Co., Ltd. (Japan), Perfetti (Italy) and Hershey Foods Corp. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Throat Lozenges market by Type (Hard Candy Lozenges, Soft Lozenges and Compressed Lozenges), Application (Pharmacy, Convenience Store and Other) and Region.
On the basis of Type, Hard Candy Lozenges are dominating the market in the year 2023On the basis of geography, the market of Throat Lozenges has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Composition, the sub-segment i.e. Pectin Composition will boost the Throat Lozenges market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Throat Problem, the sub-segment i.e. Sore Throat will boost the Throat Lozenges market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Ingredient, the sub-segment i.e. Menthol will boost the Throat Lozenges market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
High Demand for Flavored Throat Lozenges and There are numerous throat lozenges on the market, and the major key players are focusing on cost-effective drug manufacturing. These players are focusing on adopting strategies such as mergers and acquisitions with smaller, more innovative players.
Market Growth Drivers:
Rising Ageing Population Globally, Increasing Cold and Cough as a Common Disease all Over the World and Increasing Cold Temperature in the Nations Such as the United States and Canada
Challenges:
Issues Related to the Counterfeit of These Products
Restraints:
Availability of Alternative Treatments and Therapies Such as Cough Syrups, Throat Sprays, and Antiseptic Gargling
Opportunities:
Low Price of Throat Lozenges Coupled With the Research & Developments for New Products and Rapid Product Penetration of These Lozenges in Developing Countries
Market Leaders and their expansionary development strategies
In 2020, STADA has acquired 15 well-established GSK brands. By agreeing to purchase a portfolio of well-known local and regional consumer healthcare brands from GlaxoSmithKline (GSK) in nations primarily in Europe, including France, Germany, Italy, Poland, Russia, Spain, and Switzerland, STADA AG is significantly growing its global OTC business. The deal covers 15 brands, including Tavegyl allergy medication, Cetebe vitamin C supplements, Coldrex cold remedy, Mebucaine sore throat line, and Venoruton for venous treatment. Just over half of the aggregate turnover of the acquired brands comes from these five brands.
In 2022, Procter & Gamble India’s cough and cold brand Vicks announced the launch of Vicks Tulsi Cough Drops in India. The brand reiterates its goal of making age-old treatments that have been handed down through the generations practical and available to everyone by adding Tulsi taste to its line of goods.
The Food and Drug Administration has studied the problem of the labeling of lozenges or troches containing a local anesthetic, chewing gum containing aspirin, various mouth washes and gargles and other articles sold over the counter for the relief of minor irritations of the mouth or throat. It will not object to the labeling of suitable articles of this type "For the temporary relief of minor sore throats", provided this is immediately followed in the labeling with a warning statement in prominent type essentially as follows: "Warning - Severe or persistent sore throat or sore throat accompanied by high fever, headache, nausea, and vomiting may be serious. Consult physician promptly. Do not use more than 2 days or administer to children under 3 years of age unless directed by physician."
Key Target Audience
Travel Medicine Manufactures, New Entrants and Investors, Travel Medicine Distributors and Suppliers, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.