Condom market set to grow by $6.22 billion between 2024 and 2028, high growth of e-commerce platforms boosts market, Technavio

NEW YORK, July 2, 2024 /PRNewswire/ — The global condom market is expected to grow by 6 US dollars.22 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a compound annual growth rate (CAGR) of 10.62% during the forecast period. High growth in e-commerce platforms is driving the market growth, with a tendency to premiumize products due to product innovation and portfolio expansion. However, side effects of condom use pose a challenge. Key market players include Adloran GmbH, Ansell Ltd., B Holding Group LLC, Caution Wear Corp., Church and Dwight Co. Inc., Cupid Ltd., FUJILATEX CO. LTD., Global Protection Corp., Grove Collaborative Inc., HLL Lifecare Ltd., Humanwell Pharmaceutical Group Co. Ltd., Karex Berhad, LELOi AB, LifeStyles Healthcare Pte. Ltd., Okamoto Industries Inc., Panacea Biotec Ltd., Reckitt Benckiser Group Plc, Redcliffe Hygiene Pvt Ltd., StaySafe Condoms and Thai Nippon Rubber Industry Co. Ltd..

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Market driver

The condom market is witnessing significant growth due to increasing consumer demand and competition. Suppliers are investing in R&D to differentiate themselves by offering condoms in different flavors, sizes, textures and materials at higher prices. Innovative materials and technologies are being used to create unique products. Frequent product launches, high advertising and promotional spend are driving growth, especially in the premium segment. Consumer awareness and the need for enhanced sexual performance are further driving demand. High-quality raw materials ensure premiumization of the product, leading to increased sales and market expansion.

The condom market is witnessing significant growth due to the growing awareness and need for safe sexual health practices. According to recent reports, the global condom market is expected to grow at a steady pace in the coming years. The key players in this industry are condom manufacturers and distributors. These companies offer various types of condoms such as latex, polyisoprene, and nitrile. Moreover, new innovations such as female condoms and lubricated condoms are gaining popularity. The market is being driven by factors such as growing awareness about sexual health, increasing number of sexually active people, and government initiatives to promote safe sex. Moreover, the convenience and availability of online condom purchase have also contributed to the growth of the market. Overall, the condom market is expected to continue its growth trend in the coming years.

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Market challenges

• The condom market is challenged by health concerns and availability issues. Latex condoms can cause allergic reactions and skin irritations, while non-latex options such as lambskin, polyisoprene and nitrile condoms pose a risk of sexually transmitted diseases. The sensitivity and absorption capacity of vaginal tissue raise concerns about endocrine-disrupting chemicals in fragrances and lubricants. Lambskin condoms provide protection against pregnancy and skin diseases but allow for the transmission of viruses. Non-latex condoms are expensive, difficult to obtain and difficult to produce in large quantities, which hinders market growth.
• The condom market faces many challenges in effectively meeting consumer needs. Latex, a common condom material, can be expensive to produce in large quantities. In addition, the production process can be complex, involving multiple steps and stringent quality control measures. Consumers also seek a wide range of condom types, including different sizes, textures and flavors. Meeting this demand requires significant investment in research and development. In addition, marketing and distribution channels must be efficient to reach consumers in different regions and demographic groups. Overall, the condom industry must balance cost, quality and consumer preferences to remain competitive

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Segment Overview

This condom market report discusses in detail the market segmentation by:

1. Distribution channel

Material

Geography

• 3.1 Asia Pacific
• 3.2 Europe
• 3.3 North America
• 3.4 Near East AND Africa
• 3.5 South America

1.1 Offline- The global condom market consists of mass retailers, drug stores, non-commercial outlets and others. Mass retailers including specialty stores and hypermarkets are expected to grow due to consumer awareness and expansion of product range. Drug stores, with health professionals and growing customer confidence, are a significant growth area. Non-commercial outlets such as NGOs and health organizations contribute significantly to revenue. Others, including adult stores and vending machines, are expected to grow moderately. Retailers are using various strategies such as product placement and marketing to increase sales. Government incentives and expansion of retail channels are further boosting the market.

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Research analysis

The condom market encompasses a wide range of healthcare products available on both online and e-commerce platforms. This market caters to various categories including male and female condoms, available in latex and non-latex materials. Young people, especially those at risk of unplanned pregnancy and the epidemic of sexually transmitted diseases, are significant consumers. Hormonal imbalance, HIV and sexually transmitted diseases are the major health issues addressed by this market. Policies implemented by governments worldwide aim to increase public awareness and availability of contraceptives, including condoms. HIV-infected individuals and those undergoing antiretroviral therapy require antiretroviral drugs to maintain viral suppression. Sex education plays a key role in promoting the use of condoms to prevent the spread of sexually transmitted diseases and unplanned pregnancy.

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Market Research Review

The condom market refers to the production, distribution, and sale of condoms as a means of preventing disease and pregnancy. This market serves both individual consumers and organizations, especially in the healthcare sector. Condoms come in various forms, including male and female condoms, as well as different sizes, textures, and flavors. The production process includes sourcing raw materials, manufacturing, and quality control. Distribution channels include retail stores, online platforms, and healthcare facilities. Consumer preferences and social norms influence the demand for condoms, making it a dynamic and growing market. In addition, technological and material advances are contributing to continuous improvement in condom effectiveness and user experience.

Contents:

1 Summary
2 Market landscape
3 Determining the size of the market
4 Historical market size
Analysis of the 5 Five Forces
6 Market segmentation

• Distribution channel
• Material
• Geography
• Asia and Pacific
• Europe
• North America
• Middle East and Africa
• South America

7 Customer Landscape
8 Geographical landscape
9 drivers, challenges and trends
10 Company Landscape
11 Company Analysis
12 Attachment

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Source Technavio