Throat Lozenges Market Analysis, Size, Share & Forecast 2031

Report Description

Throat Lozenges Market Outlook

The global throat lozenges market was valued at USD 5,330.7 Mn in 2022 and is anticipated to reach USD 8,325.6 Mn by 2031, expanding at a CAGR of 5.3% during the forecast period.

Throat lozenges known as cough drops or troches, are small medicated tablets that dissolve slowly in the mouth. They are consumed to get relief from dryness, irritation, or inflammation in the throat caused by common colds, flu, allergies, or even by prolonged talking or singing. Throat lozenges often contain soothing ingredients, such as menthol, eucalyptus oil, or honey, to help ease discomfort.

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Some variants contain mild analgesics and antiseptics to combat sore throat pain and infection. Lozenges are flavored medicated dosage formulations that are sucked and kept in the mouth or pharynx. Usually in a sweetening base, they contain one or more medicinal products.

The benefit of medicated lozenges is that they improve the retention period in the mouth of the medicinal product type, increase bioavailability, reduce stomach discomfort, and bypass the metabolism of the first pass. Overuse of throat lozenges is not recommended and the directions of use are required to be followed carefully.

Macro-economic Factors

Increase in the number of HIV patients

Increasing number of HIV patients is expected to impact the market. People infected with HIV often experience flu-like illness and the most common symptoms are raised temperature (fever) and sore throat. For instance, according to the Joint United Nations Programme on HIV/AIDS (UNAIDS), an estimated 39 million people were living with HIV in 2022, up from 31.5 million in 2010.

Rise in the Geriatric Population

The rising geriatric population across the globe is expected to impact the throat lozenge market in the coming years. The old age population always remains at a high risk of infections, owing to their low immunity. Cough or sore throat is the most common type of infection that appears in the geriatric population. However, throat lozenges provide temporary relief from these symptoms. For instance, according to research released by the World Health Organization (WHO), the number of individuals aged 60 years and above is expected to rise from 12% to 22% between 2015 and 2050 across the globe.

Throat Lozenges Market Dynamics

Market Driver- Rise in strep infection rates

Rising strep infection rates among children are expected to drive the market, as it is more common in children than adults. For instance, according to a report by Epic Research, strep throat infections have increased in the last six years, and it has maintained abnormally high levels as compared to pre-pandemic rates. The research found that strep cases increased by 30% in April 2023 than it was in February 2017.

Market Driver- Frequently occurrence of common cold

The common cold is a minor infection of the nose and throat, which is caused by more than 200 different viruses, including Rhinovirus. For instance, according to the American Lung Association, adults get an average of two to four colds per year and young children suffer an average of six to eight colds per year. In addition, cold accounts for more doctor visits than any other condition in the US.

However, common cold symptoms include sore throat or scratchy throat, which require throat lozenges to get relief. This, in turn, is expected to boost the throat lozenges market in the coming year.

Market Restraint- Lack of awareness about the effectiveness of medicated throat lozenges

Lack of awareness about the effectiveness of medicated throat lozenges in developing economies restrains the market. The presence of counterfeit products in the market potentially affects on the brand image and profitability of trusted throat lozenge manufacturers. Furthermore, the increasing trend towards natural and organic products hampers the market, as people started preferring natural remedies over manufactured lozenges.

Market Opportunity- Increasing demand for sugar-free variants

The growing consumer awareness about the benefits of using throat lozenges, such as soothing the throat, reducing irritation and coughing, killing bacteria, and boosting immunity is expected to create an immense opportunity for the key players.

Additionally, an increasing preference for natural and herbal ingredients, such as pectin, zinc gluconate, menthol, eucalyptus oil, honey, lemon, ginger, and turmeric, which are perceived to be safer and more effective than synthetic or chemical-based products is expected to create an opportunity in the coming year.

Scope of Throat Lozenges Market Report

The report on the global throat lozenges market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Throat Lozenges Market Segmental Outlook

Based on product type, the global throat lozenges market is segmented into compressed lozenges, hard candy lozenges, soft lozenges, and chewable lozenges. The hard candy lozenges segment dominated the market in 2022, owing to its availability in different sizes, forms, and flavors, which makes them popular among individuals of all age groups. Moreover, the compressed lozenges segment is projected to grow at a significant pace, due to their long breakdown time and shelf life.

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Based on indication, the global throat lozenges market is segmented into oral thrush, sore throat, cough and cold, and others. The cough and cold segment are expected to grow gradually as a contagious feature of cough and cold, combined with a rise in common cold symptoms, is expected to drive the segment in the coming year.

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Based on distribution channel, the global throat lozenges market is segmented into pharmacy, online pharmacy, and others. The pharmacy segment is projected to expand at a considerable CAGR during the forecast period, owing to the rising consumer engagement through retail pharmacy services.

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Regional Outlook

On the basis of region, the global throat lozenges market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is expected to hold a significant share of the market during the forecast period, owing to the rising aging and elderly population.

Moreover, high prevalence of respiratory conditions, such as coughs, colds, and allergies, in the region is contribute to the growth of the market. These conditions require constant need for throat lozenges as an over-the-counter product. For instance, according to a report published by the National Library of Medicine in 2023, Europe and North America has a high prevalence of chronic cough than in Asia Pacific.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Throat Lozenges Market

• Historical, Current, and Projected Market Size in Terms of Value

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players