Throat Lozenges Market Development Strategy, Future Plans, Competitive Landscape and Trends by Forecast 2027

As per the MRFR report, the throat lozenges market is likely to acquire a market size of over USD 6.58 Billion by 2027 while exhibiting a healthy CAGR of approximately 4.31% during the review timeframe.
Throat lozenges refer to the low cost for the treatment of sore throat caused due to common cold or respiratory illnesses. The throat lozenges market has recorded massive growth in recent times. The market's growth is attributed to the growing number of HIV patients, modern lifestyles reducing immunity, improvement in at-home care of sore throat and cough, and growing prevalence of sore throat causing disorders. On the other hand, the throat lozenges market's growth is likely to be impeded by the availability of alternative over-the-counter medication methods. Nevertheless, the growing number of innovative product launches is likely to offer lucrative opportunities to throat lozenges market players worldwide over the coming years.

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Segment Analysis

The throat lozenges market is fragmented into several segments based on type, ingredient, indication, and region.
Based on type, the throat lozenges market is split into compressed lozenges, soft lozenges, and hard candy lozenges.
By ingredient, the throat lozenges market is bifurcated into lemon, honey & ginger, peppermint oil, eucalyptus oil, mint, menthol, and others.
The throat lozenges market is categorized into throat diseases, cough & cold, and sore throat based on application.

Regional Analysis

Based on geography, the throat lozenges market is divided into North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.
The North American regional market for throat lozenges is likely to lead the global market with a contribution of over 70 percent. The regional market's growth is being driven by the emergence of an increasingly growing aging demographic. Furthermore, a wide range of product options and rising government spending are likely to impact the regional market's growth positively. The regional market will exhibit a CAGR of over 3.27% during the assessment timeframe.
The European regional throat lozenges market will record substantial growth over the review timeframe. The regional market's growth is being driven by the rising birth rate and growing government spending across the region. Furthermore, the factors such as the emergence of a significant number of suppliers of a throat lozenge, the availability of a wide range of product offerings, and the occurrence of cold and cough gave the cold temperatures across the region are likely to catalyze the regional market's growth over the review timeframe.
The Asia-Pacific regional market for throat lozenges is projected to exhibit the highest growth rate of over 4.77% during the forecasted era. Developing nations such as India, Japan, and China are emerging markets across the region. The factors such as an increasing geriatric population, cost-effectiveness, awareness of over-the-counter medicine, and fast economic development are also likely to boost the regional market's growth over the assessment timeframe.

Competitive Analysis

The throat lozenges market has an intensely competitive landscape with many players spread worldwide. The players in the throat lozenges market are adopting several latest strategies such as mergers, acquisitions, partnerships, and product developments to strengthen their global market footprint. The list of prominent leaders in the throat lozenges market includes Gepach International, Wrigley Company, Prestige Brands Inc, Ricola AG, Reckitt Benckiser Group plc, Ernest Jackson, Bliss GVS Pharma Ltd, Mondelēz International group, Pfizer Inc., Procter & Gamble, Bausch Health Companies Inc, Thornton & Ross, GlaxoSmithKline, Doetsch Grether AG, and several others.

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Recent Developments

• November 2021- a prominent distributor of global candy and chocolate confectionery brands in the nation, Regal Confections, has disclosed that it has acquired Tosuta International Sales Ltd., an importer and distributor of chocolate, throat lozenges, hard and soft candies, sours.
Headquartered in Langley, British Columbia, Tosuta was established 43 years ago and has expanded to be a prominent player within the gas & convenience channel. Tosuta signifies brands Canadians immediately trust and love, including Red Band, Hi-Chew, and Bentasil.

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This release was published on openPR.