Asia Pacific Cough Drops Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis.

The Asia Pacific cough drops market size is expected to reach US$ 1,268.96 million by 2031 from US$ 758.74 million in 2023. The market is estimated to record a CAGR of 6.6% from 2023 to 2031.

Executive Summary and Asia Pacific Cough Drops Market Analysis:

The Asia Pacific cough drops market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The cough drops market in Asia is steadily expanding due to cultural preferences, environmental factors, and changing consumer behavior. Seasonal illnesses and air quality concerns drive demand in countries like China, India, and Japan. Consumers often prefer herbal remedies with ingredients like ginger and honey, reflecting a trend towards natural wellness. Local manufacturers remain competitive against global brands by aligning with regional tastes. E-commerce has made these products more accessible, and increased focus on respiratory health post-COVID-19 has boosted interest in immunity-supporting lozenges. As health awareness grows, the market is expected to continue its upward trajectory.

Asia Pacific Cough Drops Market Strategic Insights

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Asia Pacific Cough Drops Market Segmentation Analysis

Key segments that contributed to the derivation of the Asia Pacific cough drops market analysis are product, application, and distribution channel.

• By product, the Asia Pacific cough drops market is segmented into gluten free, sugar free, and others. The sugar free held the largest share of the market in 2023.
• By application, the Asia Pacific cough drops market is bifurcated into adults and children. The adults held a larger share of the market in 2023.
• By distribution channel, the Asia Pacific cough drops market is bifurcated into offline and online. The offline held a larger share of the market in 2023. Furthermore, offline is sub segmented into retail pharmacies, super-market or hyper-market, and hospitals pharmacies.

Asia Pacific Cough Drops Market Outlook

Homemade herbal remedies have been in use for centuries to alleviate coughs and sore throats. With a renewed interest in natural healing practices, many consumers are turning to herbal cough drops, including herbal blends such as thyme or licorice root, as effective alternatives to conventional allopathic options. Consumer awareness about health and wellness is driving the demand for cough drops that contain natural and organic ingredients. People are becoming increasingly aware of the potential side effects of synthetic ingredients incorporated in medications. Thus, there is a growing preference for natural remedies that contain herbal extracts, organic flavors, and other natural constituents. Products containing ingredients such as honey, ginger, and eucalyptus are becoming increasingly popular due to their throat-soothing properties.

In response to the growing consumer inclination toward natural alternatives, manufacturers have begun investing significant resources in innovation for the development of cough drops with herbal extracts and organic flavors. In September 2023, Ricola announced a launch of cough drops that combine Swiss herbs, appealing to traditional herbal remedy enthusiasts. The global shift toward natural ingredients is not confined to developed markets; emerging economies are also witnessing a significant increase in demand for herbal and natural products. Manufacturers could take advantage of this trend by expanding their distribution networks into areas where natural remedies are culturally favored. Companies such as Dabur in India focus on ayurvedic formulations to meet local preferences for herbal solutions. In May 2022, Vicks announced the launch of Tulsi cough drops in India, emphasizing the convenience of traditional remedies. Known for its range of health benefits, Tulsi is effective in treating coughs and sore throats. Moreover, as consumers become more environmentally conscious, manufacturers that implement sustainable practices in sourcing and packaging can stand out in the market. Utilizing eco-friendly materials and promoting the sustainable sourcing of natural ingredients can strengthen brand loyalty among environmentally aware consumers. Thus, the surging focus on natural ingredients and sustainable packaging is projected to create significant growth opportunities for the cough drops market in the near future.

Asia Pacific Cough Drops Market Country Insights

Based on country, the Asia Pacific cough drops market comprises China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. China held the largest share in 2023.

According to an article published in the European Respiratory Society in 2022, in China, Chronic cough was found in 3.6% of Chinese adults, 2.4% of those aged 20–49 years, and 6.0% of those aged 50 years or older. The penetration of cough drops in urban areas is notably higher, attributed to changing consumer lifestyles and the availability of a diverse range of products such as herbal and sugar-free options that cater to varied preferences. E-commerce sales have surged as consumers increasingly turn to online channels for convenience and product variety. The Chinese government's focus on health and wellness, and the rising disposable incomes of people are a few other factors supporting market expansion in the country. Additionally, manufacturers' emphasis on integrating natural ingredients into formulations and using innovative packaging solutions enhances product appeal. The cough drop market in China has seen significant growth, driven by increasing awareness of health and wellness, rising pollution levels, and the prevalence of respiratory ailments.

Asia Pacific Cough Drops Market Report Highlights

Asia Pacific Cough Drops Market Company Profiles

Some of the key players operating in the market include Bliss GVS Pharma Ltd, Cipla Ltd, Gepach International, GSK Plc, Mondelez International Inc, Reckitt Benckiser Group Plc, Ricola, Sanofi SA, The Procter & Gamble Co, and Thornton & Ross, among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.

Asia Pacific Cough Drops Market Research Methodology :

The following methodology has been followed for the collection and analysis of data presented in this report:

• Secondary Research

The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:

• Company websites, annual reports, financial statements, broker analyses, and investor presentations.
• Industry trade journals and other relevant publications.
• Government documents, statistical databases, and market reports.
• News articles, press releases, and webcasts specific to companies operating in the market.

Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.

• Primary Research

The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:

• Validate and refine findings from secondary research.
• Enhance the expertise and market understanding of the analysis team.
• Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects.

Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:

• Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
• External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise

Asia Pacific Cough Drops Market Country and Regional Insights