Market Overview:
The Condom Market was estimated at USD 8,644.67 million in 2021 and is projected to reach USD 14,672 million by 2028, growing at a CAGR of 7.85%.
A condom is a thin, loose-fitting pouch or sheath that protects against sexually transmitted diseases (STDs) & infections (STIs). Condoms prevent conception by preventing a male’s sperm from reaching a female’s eggs as a barrier method of birth control (contraception). Condoms are available for purchase at pharmacies, grocery stores, and general retail stores. Condoms act as a physical barrier between people. They prevent conception by trapping ejaculate (semen) and preventing sperm from entering the uterus of a partner. Condoms reduce the risk of STDs by preventing or greatly reducing bodily fluid exchange. Studies including one individual who was HIV positive and the other who was not were conducted to verify the safety of condoms. A study found that when condoms were used properly, none of the uninfected partners contracted HIV. Ten out of every 100 partners become infected when condoms were not used appropriately. The growing awareness of HIV and STDs is expected to support the growth of the condom market during the forecasted timeframe.
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Major Key Players for Condom Market:
- Mankind Pharma
- Fuji Latex Co. Ltd
- Reckitt Benckiser Group PLC.
- Humanwell Group
- Veru Inc.
- Karex Berhad
- Mayer Laboratories Inc.
- Okamoto Industries Inc.
- Church & Dwight
- Cupid Limited
- Others
Market Dynamics and Factors:
Without a prescription, the condom can be purchased. Most alternative methods of contraception require the direct assistance of a health care physician as well as a prescription. As a result, using condoms is an excellent approach to avoiding many teen pregnancies. Moreover, the condom is simple to use. Unlike treatments that need a health care provider to provide the contraception method, such as hormone injections or implanting an IUD, the condom can be used by anybody.
Many sexually transmitted illnesses, such as HIV, can be avoided by using a condom, which essentially establishes a barrier that prevents the exchange of bodily fluids. Condom manufacturers offer a wide range of flavors and textures to choose from, all of which are designed to improve the user’s sexual experience. They claim to provide users with a variety of options, ranging from prolonging erection duration to increasing partner pleasure. The growing world population and the need to control it are expected to support the growth of the market in the forecasted period.
Access the detailed table of content on global and regional Condom Market
Condom Market Report Highlight:
By material type, the latex segment is expected to lead the growth of the condom market in the projected timeframe. Condoms made of latex are the most popular and commonly available, making them the first choice for many people. Latex is a highly flexible material. They can stretch up to 800 % before breaking, allowing them to handle a wide range of sizes without breaking. Latex condoms are extremely durable and safe due to their elasticity thereby, supporting the growth of the segment.
By product type, the male condom segment is anticipated to have the highest share of the condom market during the analysis period. The demand for condoms among male consumers has increased dramatically in recent years, particularly in developing countries. This increase in demand can largely be attributed to consumers’ growing awareness of the importance of safe intercourse in preventing unplanned pregnancies and the spread of diseases that can affect human life.
By distribution channel, the pharmacies and drug stores segment is expected to dominate over the forecasted timespan. The proximity feature of these channels, especially in established metropolitan cities, gives them an added advantage of influencing the consumer’s decision to buy the wide range of products offered.
The Asia-Pacific region is anticipated to have the highest share of the condom market in the projected period. China is one of the world’s major condom markets. In the past, Chinese authorities have tended to provide condoms for free or at subsidized prices. Individuals have greater possibilities to exercise personal freedom in recent years as the middle class has grown, allowing them to purchase high-quality condoms at higher prices from retail stores. Popular condom brands like Okamoto, which has developed brand awareness in the medium- and high-price ranges, have benefited from such factors.
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Key Industry Development:
In May 2022, Mankind Pharma launched EPIC Condoms, a premium collection of flavored condoms. Mankind Pharma teamed up with Interactive Avenues, a Reprise Network Company, to design a Digital-First product launch with a campaign tailored for the young, socially active, and energetic audience, encouraging people to #MakeItEpic.
In November 2021, Manforce has announced the launch of its new range of Ultrafeel condoms in bubblegum flavor. The Ultrafeel condom is ultra-thin (0.05 mm) and feels like nothing, ultimately enhancing the pleasure.
Condom Market Segmentation:
By Material Type
- Latex
- Non-Latex
By Product Type
- Male Condoms
- Female Condom
By Distribution Channels
- Pharmacies And Drug Stores
- Hypermarkets/ Supermarkets
- Convenience Stores
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For this report, Introspective Market Research has segmented the Condom Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Turkey
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Vietnam
- Thailand
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Iran
- Rest of MEA
- Latin America
- Brazil
- Argentina
- Rest of LATAM
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Scope of the Report:
The report encompasses the entire analysis of market size in previous years for major segments and countries, as well as future estimates. The Condom Market study looks deeply into the worldwide market’s competitive landscape. The study also provides the names of key market players and the methods they used to gain a dominant position in the industry. It also includes useful market insights, dynamics and factors, and market analysis techniques such as PESTEL analysis, PORTER’s Five Forces analysis, value chain analysis, SWOT analysis, BCG matrix, and Ansoff matrix.
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