The cough drops market is expected to reach US$ 3,600.88 million by 2031 from US$ 2,231.58 million in 2023; the market is estimated to grow at a CAGR of 6.2% during 2023-2031. Major factors driving the market growth include rising burden of respiratory diseases causing soar throat and increasing shift toward self-medication. Further, surging focus on natural ingredients and sustainable packaging is likely to boost the market during the forecast period. However, inability to provide long-term relief and availability of alternatives among the market deterrents.

Viral infections such as colds or influenza are among the common causes of sore throat. A sore throat can also indicate strep throat, the common cold, allergies, or other upper respiratory illnesses. According to the World Health Organization, approximately 1 billion cases of seasonal influenza are recorded every year across the globe, including 3-5 million cases of severe illness. Symptoms typically start 1-4 days after infection and persist for about a week. The common cold, flu, and seasonal allergies are widespread respiratory issues that significantly increase the demand for cough relief products as people seek immediate relief from coughing, throat irritation, and other symptoms causing discomfort.

Deteriorating air quality due to rapid-paced urbanization has been a significant concern for health systems across the world, contributing to a rise in cases of respiratory illnesses. Pollutants can worsen the health conditions of asthma and bronchitis patients, leading to more frequent coughing episodes. Consequently, consumers are increasingly seeking cough drops for relief from these symptoms. The geriatric population is particularly vulnerable to respiratory disorders due to decreased immunity and pre-existing health conditions. The world's population is aging at an unparalleled rate. According to the WHO facts published in October 2022, 1 in 6 individuals worldwide would be aged 60 or more by 2030. Thus, the number of people from this age group would increase from 1 billion in 2020 to 1.4 billion by 2030; the population would rise by quadruple to 2.1 billion by 2050. Furthermore, it is anticipated that the population of those aged 80 or older will triple between 2020 and 2050, reaching 426 million. As people age, they are more likely to experience chronic illnesses that require symptom management, including the use of cough drops for relief from coughing associated with infections or chronic conditions. According to an article published in Annals of Research Hospitals in 2018, the rising prevalence of chronic lung diseases and iatrogenic immunosuppression are leading to an increase in respiratory infections in an aging population. Moreover, 2 billion people worldwide will be older than 65 years, and more than 1 billion individuals will have a preventable chronic lung disease by 2050.

In response to the rising incidence of respiratory disorders, manufacturers in the cough drops market are innovating their product lines and adopting development strategies such as collaborations and partnerships to expand their businesses. For instance, in June 2024, Vicks India, a brand of Procter & Gamble, announced the launch of Vicks Double Power Cough Drops, a groundbreaking transformation of India"s iconic triangular Vicks Cough Drops. These new drops have been formulated based on consumer feedback, addressing the demand for a larger cough drop size that effectively relieves symptoms of throat irritation and cough. Thus, the rising burden of respiratory diseases causing soar throat fuels the growth of the cough drops market across the world.

The comparative company analysis evaluates and categorizes the cough drops market based on product portfolio (product satisfaction, product features, and availability), recent market developments (merger & acquisition, new product launch & enhancement, investment & funding, award, agreement, collaboration, & partnership, recognition, and expansion), and geographic presence that aids better decision-making and understanding of the competitive landscape. The report profoundly explores the recent significant developments and innovations by the leading vendors in the global Cough Drops Market. The key market players are Mondelez International Inc, The Procter & Gamble Co, GSK Plc, Cipla Ltd, Bliss GVS Pharma Ltd, Thornton & Ross, Reckitt Benckiser Group Plc, Sanofi SA, Gepach International, and Ricola

Based on product, the cough drops market is segmented into gluten free, sugar free, and others. In 2023, the sugar free, segment held the largest share of the market. Based on application, the cough drops market is segmented into adults and children. In 2023, the adults segment held the largest share of the market. Based on distribution channel, the cough drops market is segmented into offline and online. In 2023, the offline segment held the largest share of the market.

Various organic and inorganic strategies are adopted by companies operating in the cough drops market. The organic strategies mainly include product launches and product approvals. Inorganic growth strategies witnessed in the market are acquisitions, collaboration, and partnerships. These growth strategies allow the market players to expand their businesses and enhance their geographic presence, along with contributing to the overall market growth. Furthermore, strategies such as acquisitions and partnerships helped strengthen their customer base and extend their product portfolios. A few of the significant developments by key players in the Cough Drops Market are listed below.

In September 2024, Cofsils, a brand by Cipla Health Ltd. specializing in sore throat relief, launched a new flavor: Cofsils Mulethi. This lozenge offers the soothing taste of Mulethi (Licorice) and provides relief from sore throat within minutes. Cofsils Mulethi was added to its existing flavor pipeline, including Cofsils Fresh Mint and Cofsils Tulsi Pudina, and popular options such as Cofsils Orange, Lemon Honey, and Ginger Lemon.