Throat Lozenges Market Trend Analysis 2019-2023 By Global Top Players - Procter & Gamble, Mondelez International, Reckitt Benckiser Group plc, GlaxoSmithKline plc Etc.

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.

Global Throat Lozenges Market – Key Players

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.

Global Throat Lozenges Market - Segmental Analysis

The Global Throat Lozenges Market is segmented on the basis of type, indication, ingredient, and region in the report.

By type, the global throat lozenges market is segmented into hard candy lozenges, soft lozenges, and compressed lozenges.

By indication, the global throat lozenges market is segmented into sore throat, cough and cold, and throat diseases. Sore throat and cough and cold are likely to remain the leading indications in the global throat lozenges market over the forecast period.

By ingredient, the global throat lozenges market is segmented into menthol, mint, eucalyptus oil, peppermint oil, honey and ginger, lemon, and others.

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Global Throat Lozenges Market – Insights

The major factor driving the market growth for throat lozenges is cold and cough which is a common disease all over the world. Therefore, the demand for treatments and medications to cure it is always high. Other market drivers include the development of new ingredients, low-price of throat lozenges, and rapid product penetration in developing countries with rapid growth rate. However, the availability of alternative treatments and therapies can put breaks in the speed of market growth.

The growing air pollution is likely to be a major driver for the Global Throat Lozenges Market, as pollution affects the nose and throat first, even before it reaches the lungs. Sore throat and coughs are expected to become a widespread phenomenon in the coming years thanks to the decreasing air quality in many urban centers around the world. Rising vehicular traffic and industrial emission of pollutants is likely to remain a key concern in the coming years, driving the demand for primary medication such as throat lozenges.

The increasing efforts by manufacturers to innovate throat lozenges in multiple flavors and consistencies are also likely to be a major driver for the global throat lozenge market over the forecast period. The growing development of basic healthcare infrastructure in emerging regions around the world is likely to be a major driver for the throat lozenges market over the forecast period, as over the counter sales remain the primary revenue generation channel for the throat lozenges market.

Industry Development

Ricola Asia Pacific and JacobAmanda collaborated to launch Ricola’s annual national consumer campaign titled “Soothe your way into 2018″. This is in a bid to increase sales for Ricola’s herbal candy and lozenges. Since its launch, the campaign has led to Ricola’s brand affinity with young millennial consumers and boosted sales for Ricola lozenges.

CR Pharma, the leading drug dealer of China and a manufacturer of throat lozenges, has confirmed that it is planning to acquire controlling stake in Jiangzhong, its rival company. The cooperation is a strategic step towards promoting development.

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.

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