Condom Market Size to Reach Revenues of around USD 13 Billion by 2026 – Arizton

The global condom market size was valued at $7.7 billion in 2020 and is expected to reach $13 billion by 2026, growing at a CAGR of 9% by 2026.

CHICAGO, ILLINOIS, UNITED STATES, April 23, 2021 / — In-depth analysis and data-driven insights on the impact of COVID-19 included in this global condom market report.

The global condom market is expected to grow at a CAGR of around 9% during the period 2020−2026.

Key Highlights Offered in the Report:
1. APAC dominated the global condom market with a share of around 33% in terms of revenue and over 36% in terms of volume in 2020. The region is expected to witness significant CAGR of over 8% both by revenue and volume. APAC will continue to be the largest market for condoms during the forecast period.
2. Male condoms accounted for over 98% of the global condom market in terms of both revenue and volume. However, the female condom segment is expected to witness significant CAGR of over 19%.
3. International vendors with their huge infrastructure and R&D support are rapidly expanding their footprint in the market. Thus, regional vendors find it increasingly difficult to compete in terms of reliability, technology, and price. Manufacturers are creating marketing strategies based on the durability of the equipment. The competitive environment in this market is likely to intensify further with the increase in product/service extensions, technological innovations, and M&As.
4. The most important and immediate need for condoms exits among women and girls. Female condoms account for less than 2% share in the global condom market and there is a huge growth opportunity in the market of female condoms. Vendors who can increase their ability to reach female population and are expected to enjoy competitive advantage in the market.
5. The sale of condoms has been drastically affected in 2020 especially in the H1 of 2020. The first half of 2020 saw a massive fall in the sales of condoms with the spread of the COVID-19 virus. However, the impact of COVID-19 on condom market was witnessed majorly during Q1 and Q2 when lockdown was strict. With reducing restrictions and with restarting production, condom market started recovering.
6. In 2020, latex condoms dominated the global condom market. Unlike latex that remains to be the predominantly used raw material for the manufacture of male condoms driven by their versatility of use, female condoms are majorly made of non-latex/synthetic materials.

Key Offerings:
• Market Size & Forecast by Revenue | 2020−2026
• Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
• Market Segmentation – A detailed analysis by product type, material type, distribution channel type, end-user, and geography
• Competitive Landscape – 4 key vendors and 31 other vendors

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Condom Market – Segmentation

• In 2020, the male condom segment dominated the market with a share of over 98% and 99% by revenue and unit shipments, respectively. The significant factors that influence the growth of the male contraceptives industry are high sexual activeness among males, ease of use and high availability, prevention of sexually transmitted diseases and infections, and cost-efficiency. Moreover, these protective devices have evolved to improve their functionalities over the decades.
• In terms of unit shipments, the institutional condoms segment dominated the global market in 2020. As governments in the Middle East & Africa and North America are highly concerned about reducing the prevalence of HIV, the demand for condoms as a preventive measure expects to boost the market.
• Condoms are mainly sold via retail distribution channels such as specialty stores, supermarkets, hypermarkets, mass-market players, drug stores, and grocery stores. While institutional condoms are sourced or procured directly through manufacturers via tenders, branded condoms are sold via several distribution channels.

Condom Market by Product Type
• Male Condoms
• Female Condoms
Condom Market by Distribution Channel Type
• Retail
• Specialty Stores
• Mass-market Players
• Drug Stores
• Grocery Stores
• Online
Condom Market by Material Type
• Latex
• Non-latex
• Polyurethane
• Lambskin
• Polyisoprene
• Nitrile
Condom Market by End-user
• Branded
• Institutional

Condom Market – Dynamics

Durex Partnering with RED, 2018-2020 – The campaign adopted by Durex involves the brand partnering with RED (HIV Charity) in a three-year tie-up intending to raise awareness among young consumers on AIDS. The company released a new product called (DUREX)RED in more than 25 global markets during this time. Such campaigns have remained successful in attracting significant attention throughout the countries and regions. Such campaigns are helpful in creating a crucial impact on condom buyers and are even crucial for the launch of exclusive product extensions in the existing or new markets. Vendors can consider using such campaigns for efficiently branding their products in the market. Keeping into consideration that condoms are often treated as products to be sold under secrecy or products associated with cultural shame or taboo across societies, most vendors strategize their marketing and branding campaigns to portray a correct public image.

Key Drivers and Trends fueling Market Growth:
• Internet Shaping Purchasing Behavior
• Innovative Condom Designs
• Government Initiatives for Free Condom Distribution
• Growing Prevalence of STIs

Condom Market – Geography

APAC is led by China, where condoms are witnessing a surge in demand owing to the presence of a large population base, awareness of condom usage, and affordability. The condom market in APAC is witnessing high growth in India, China, Japan, and South Korea, and these devices are also gaining popularity among end-users. APAC is also witnessing rapid urbanization. According to the World Bank Group, the number of urban households in the region is likely to rise by about 68% from 2010 to 2030. The high urbanization rate in developing APAC countries will bolster the demand for condoms as people are aware of the products and will have access to them in retail stores or drug stores. This is expected to develop the demand for condoms in the region during the forecast period.

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Condom Market by Geography
• North America
• US
• Canada
• Europe
• UK
• Germany
• Russia
• France
• Spain
• Italy
• Turkey
• Netherlands
• Portugal
• Poland
• Sweden
• Denmark
• Norway
• China
• Japan
• India
• Australia
• South Korea
• Indonesia
• Philippines
• Malaysia
• Singapore
• New Zealand
• Taiwan
• Thailand
• Vietnam
• Cambodia
• Sri Lanka
• Myanmar
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Peru
• Chile
• Others
• Middle East & Africa
• Nigeria
• South Africa
• Algeria
• Ethiopia
• Kenya

Major Vendors
• Church & Dwight
• LifeStyles Healthcare
• Okamoto Industries
• Reckitt Benckiser Group

Other Prominent Vendors
• Bally
• Caution Wear
• Convex Latex
• Cupid Limited
• Dongkuk Techno
• Double One
• Fuji Latex
• HBM Group
• HLL Lifecare Ltd
• Innova Quality
• Innolatex Limited
• IXu
• Japan Long-Tie
• Karex Berhad
• Mankind Pharma
• Mayer Laboratories
• MTLC Latex
• Nulatex SDN. BHD.
• Ritex
• Sagami Rubber Industries
• Shandong Ming Yuan Latex Co.
• Shanghai Dahua Medical Apparatus Co.
• Silk Parasol
• StaySafe Condoms (AdvaCare Pharma)
• STRATA Various Product Design
• Thai Nippon Rubber Industry
• Tianjin Condombao
• Tianjin Human Care Latex Corporation
• The Female Health Company (VERU)

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Source: EIN Presswire