Throat Lozenges Market: By Product (Hardcandy Lozenges, Soft Lozenges, Compressed Lozenges), By Application (Nicotine Replacement, Soar Throat, Cold & Cough, Vitamin Supplements and Others), By Flavor (Strawberry, Lemon, Ginger, Orange, Menthol and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Stores and Others) and Geography

Throat Lozenges Market size was valued at USD 4,627.3 million in 2023 and is poised to grow at 8.4% CAGR over the forecast years to reach USD 8,138.3 million by 2030. The throat lozenges market is expected to witness steady growth in the coming years, driven by several factors rising prevalence of respiratory problems, focus on cost-effective solutions, and innovation in flavors and ingredients. Respiratory problems such as colds, coughs, and sore throats are common occurrences, and lozenges offer a convenient and soothing remedy. Increasing urbanization and pollution levels can further contribute to respiratory issues, driving demand for lozenges.

Lozenges are generally perceived as a more affordable option compared to other cough and cold medications, making them attractive to cost-conscious consumers and manufacturers are developing lozenges with new and innovative flavors, as well as incorporating natural ingredients like honey and menthol, to cater to evolving consumer preferences. Growth in organic and natural lozenges, development of functional lozenges, and expansion into emerging markets are the opportunities in the throat lozenges market having significant growth in upcoming years. Focus on premiumization, direct-to-consumer sales, and increased emphasis on branding and marketing are the trends in the throat lozenges market. However, the limited efficacy for certain conditions, competition from other cough suppressants, safety concerns over certain ingredients are the constraints in the throat lozenges market, which hinder the market growth.

Throat Lozenges Market Key Players:

• In March 2023, Taiho Pharmaceutical Co., Ltd. expanded its PITAS line of lozenges with the introduction of PITAS Medical Troche. This new addition is a plum-flavored medicated lozenge, classified as a unique quasi-drug in Japan. It’s designed to be discreet, allowing users to soothe their throats subtly, even while talking.
• In September 2021, Verfora, a subsidiary of the Galenica Group and a Switzerland-based pharmaceutical company, announced the acquisition of Spagyros Ltd., a company specializing in the manufacture and marketing of complementary medicines. The acquisition was part of Verfora’s strategic expansion to strengthen its position in the consumer healthcare market and to meet the growing demand for phytotherapy and complementary medicines.