The Global Condoms Market- Growth drivers, Key Trends & Challenges
The global condoms market has been segmented based on Material Type (Latex, Non-Latex), By Product (Male Condoms, Female Condoms), By Distribution Channel (Mass Merchandizers, Drug Stores, E-Commerce) and by Region (North America, Europe, Asia Pacific and Rest of the World)
Introduction
The global condoms market is a contributing segment of the global personal care market. From a top-down perspective, Strategy Here has analyzed the global personal care market as a parent market to set the context in which the global condoms market will be analyzed.
Increasing the use of condoms by sex workers, young couples, and the LGBTQ community has significantly reduced public health concerns such as STDs, HIV/AIDS, and population explosion. Correct and consistent usage helps avoid the risk of acquiring such conditions
The availability of a variety of condoms across the globe is increasing their usage and enhancing the sexual experience.
Table of Contents
Market Overview
The global condoms market is expected to grow to $8.6 billion by 2026
Growth momentum is expected to accelerate during the forecast period with an 8.5% CAGR.
The condoms market is registering high market growth due to the rising awareness among adolescents about Sexually Transmitted Diseases.
China is among the top four countries in terms of condom use and production in the world.
Key Trends
More consumers are opting for flavoured condoms and this is a trend that many large manufacturers are capitalizing on.
Companies are also embracing the sustainability trend by introducing ultra thin packaging and biodegradable and vegan condoms, made with fair trade rubber.
Key Market Players
Some of the key players are HLL Lifecare Ltd., Mankind Pharma, Fujilatex Co., LTD., Church & Dwight Co., Reckitt Benckiser Group, Karex Berhad, LELO, LifeStyles Healthcare Pte Ltd., Veru, Inc., Mayer Laboratories, Inc, Okamoto Industries, Inc. and Cupid Limited.
The global market is highly competitive with the presence of well-established global brands such as Durex and Trojan. However, many local companies in various countries are trying to gain market share with the launch of innovative products, packaging, and promotion to cater to the demand of local customers.
Growth Drivers and Challenges
The growing awareness about the spread of Sexually Transmitted Diseases (STDs) among young people.
Initiatives by international and government healthcare bodies such as WHO, UNAIDS, UNFPA, and CDC to create awareness about the safe use of condoms is also promoting their use.
The demand is also driven by the lower cost in comparison with other methods of contraception.
In some cases, condoms were disliked because they reduced sexual pleasure, called partners’ fidelity into question and challenged notions of masculinity.
Female condoms are unpopular due to the fact that they are less effective than make condoms and it was found that they are more expensive.
Higher capital costs for machinery is incurred as polyurethane condoms involve the use of solvents to produce a quality product.