Condom Market 2019 Deep Analysis of Current Trends and Future Demand by Top Key Players By 2026 in Web marketing

  • Aug. 19, 2020, 3:22 p.m.
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The global condom market size is expected to reach USD 15.1 billion by 2026, based on a new report by Grand View Research, Inc., exhibiting a CAGR of 8.5% over the forecast period. Launch of new products and innovative packaging & promotional activities by international & local brands are expected to boost the market during the forecast period.

With Covid-19 infections rising globally, the apprehension regarding a shortage of essential life-saving devices and other essential medical supplies in order to prevent the spread of this pandemic and provide optimum care to the infected also widens. In addition, till a pharmacological treatment is developed, ventilators act as a vital treatment preference for the COVID-19 patients, who may require critical care. Moreover, there is an urgent need for a rapid acceleration in the manufacturing process for a wide range of test-kits (antibody tests, self-administered, and others). The report will account for Covid19 as a key market contributor.

For instance, in November 2018, Reckitt Benckiser’s Durex brand introduced a new label “Feels” in South Africa. This range was made available at a lower cost as compared to other products offered by the company. Feels is sold at USD 0.71 in a pack of three, whereas Durex Fetherlite is sold at USD 2.83.This was a strategic move by the company to gain a higher share of the South African market, as public health organizations offer condoms free of cost in the country.

Social media plays a significant role in creating awareness about these products. Moreover, a condom is not only perceived as an economical method of contraception, but is also in demand as a product to improve sexual health. Variations in texture, flavor, and thickness of products available in the market help couples enhance their sexual experience.

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Condom Market Report Highlights

Latex condoms held the largest share in 2018 owing to safety and flexibility provided by natural rubber used to make condoms.
Currently, latex products have a higher market share as these can be used with lubricants and sex toys, which makes them the preferred choice of customers
In the product segment, male condoms held a significant share in 2018. However, there is substantial demand for female condoms in developed as well as developing nations
The e-commerce distribution channel is expected to exhibit fastest growth during the forecast period due to increasing adoption of Internet & social media platforms for promoting safe sex
On the basis of geography, Asia Pacific held the largest condom market share in 2018 and is expected to maintain its position during the forecast period
In April 2017, AIDS Healthcare Foundation (AHF) with the health ministry of India announced the country’s first free store under the name Love Condoms, as an initiative aimed at reducing HIV infections
African countries such as Nigeria have a high unmet need. According to the AHF, in 2019, Nigeria has a deficit of 564 million and offered to distribute 600,000 condoms across the country.
Some of the key players are Church & Dwight Co., Inc.; Reckitt Benckiser Group plc; Karex Berhad;Fujilatex Co., LTD.;LELO; LifeStyles Healthcare Pte Ltd.; Mayer laboratories, Inc.; Okamoto Industries, Inc.; Cupid Limited; andVeru, Inc.
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. Studies demonstrate that since the onset of the HIV/AIDS epidemic, condoms have helped avert 50 million new cases of HIV.

According to the United Nations Population Fund (UNFPA), investment of USD 27.5 billion in male condoms in 81 countries by 2030 is estimated to help meet unmet demands of family planning. It is also expected to fulfill 90% of the need for condoms to prevent STIs & HIV. This is estimated to prevent 17 million HIV infections, 700 million STIs, and 420 million unplanned pregnancies.

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International and government healthcare bodies such as WHO, UNAIDS, UNFPA, and CDC are undertaking various initiatives to create awareness about safe sex through the usage of condoms. This has effectively increased the use of this contraceptive by sexually active couples in the last decade. In October 2013, UNFPA with the Malawi government launched the first national HIV/AIDS prevention drive to increase use among youths. Moreover, national programs that address gender bias and socio-cultural stigma affecting use and access are expected to improve the usage of the product in African nations.

Grand View Research has segmented the global condom market on the basis of material type, product, distribution channel:

Condom Material Type Outlook (Revenue, USD Million, 2015 - 2026)
Latex
Non-Latex

Condom Product Outlook (Revenue, USD Million, 2015 - 2026)
Male Condoms
Female Condoms

Condom Distribution Channel Outlook (Revenue, USD Million, 2015 - 2026)
Mass Merchandizers
Drug Stores
e-Commerce

About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For More Information:www.grandviewresearch.com


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