CAGR: 8.6%Current Market Size: USD 9.9 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2022-2029Base Year: 2021
The Global Condom market is expected to grow from USD 9.9 billion in 2021 to USD 19.15 billion by 2029, at a CAGR of 8.6% during the Projection period 2022-2029. The growth of this market is mainly driven owing to the increase in the sexually transmitted diseases across countries.
A condom is a barrier designed to reduce the chance of a person becoming pregnant or acquiring a sexually transmissible infection during sexual activity. To raise youth awareness about contraceptive use and encourage them to use contraception to prevent sexually transmitted diseases and unplanned births, governments around the world have launched various campaigns and comprehensive sex education programs. The industry experienced a short-term disruption due to fluctuation in supply chain during the initial days of the COVID-19 pandemic. Post-COVID-19 Supply chain strategies changed by top players and relaxation of COVID restrictions led to improved product availability and consumer demand. The introduction of innovative packaging styles, condom designs, and promotional activities have all helped boost the market's growth in addition to sex education and prevention against STDs. Moreover, the market will further progress with the increasing adoption of contraceptives to avoid unwanted pregnancy, as well as the increasing use of online distribution channels. There is an increasing acceptance of female condoms as a tool for preventing STIs and unplanned pregnancies which will boost the growth of market in upcoming years. In addition, free condom distribution by government organizations is expected to boost the market. The UNFPA and other non-governmental organizations will assist governments with free condom distributions.
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Market Dynamics:
Drivers:
The development of new and innovative condoms by the manufactures is one the leading factor which is propelling the growth of market and will keep on adding more value to the market growth in future. Companies manufacturing condoms are continuously working on the existing products to make them more acceptable and demandable. In addition, to make condoms more acceptable among the consumers, manufacturers are also working on the product packaging to make it convenient for the user to carry the product. Increased advertisements of the new product make it easy for the companies to promote their product more and more which will eventually increase the sale of the product and helps the consumer to understand about the new features added in the product.
Restraints:
Most of the companies are manufacturing and selling latex-based condoms as they are more flexible, durable and proven to be effective against sexually transmitted diseases. But, on the other hand some people may develop allergies from these condoms. People who are allergic to latex may experience side effects from latex-based condoms which, one of the major factors which impacting the demand of latex-based condoms and consequently hampering the growth of market. It is recommended that those who are having allergic reaction towards latex should switch to non-latex condoms to avoid any kind of allergic reaction.
Opportunities:
Globally, all the governments are continuously working on creating more and more awareness about the spread of STD’s/HIV due to lack of sex education and unawareness about the use of contraceptives. Governments of different countries have started giving free condoms to people in order to make people aware about the need of contraceptives to live a healthy life. The rising awareness about sex education is playing a key role in the overall development of the condom market as people are becoming conscious about the consequences of unprotected sex. Unplanned child birth, sexually transmitted diseases are rising day-by-day which needs to be controlled. Programs started by government to tackle with these problems are proven to be beneficial for the society as well as for the condom market growth.
Challenges:
One of the leading causes behind unplanned birth, rising cases of sexually transmitted diseases if lack of sex education. In rural areas, it has been observed that people hesitate to talk about reproductive health or reproduction related topics which results in poor reproductive health. Sex education is an important part of everyone’s life, it needed to be shared properly so that people become more aware about their health and understand the long-term benefits of sex education. Lack of sex education is a challenge for our society which needs to be shared, discussed more and more to spread awareness about the positive outcomes of sex education.
Segmentation Analysis:
The global condom market has been segmented based on Vessel, application, and regions.
By Type
The type segment includes female condom and male condom. The male condom segment led the largest share of the condom market with a market share of around 58.24% in 2021. A majority of the market share will go to male condoms due to their higher usage rates, lower costs compared to female condoms, and greater availability. Additionally, underdeveloped countries in Africa have high demand for male condom due to the prevalence of HIV/AIDS. All these factors contribute a large share in the growth of the condom market.
By Material
The material segment includes non-latex and latex. The latex segment led the largest share of the condom market with a market share of around 57.9% in 2021. Due to the high level of effectiveness offered by latex condoms, most brands on the market sell condoms made of latex, a form of natural rubber that is more durable, flexible, and provides effective contraception and protection against sexually transmitted diseases. The high acceptance of condoms made up of latex among consumers boosts the growth of the condom market.
By Distribution Channel
The distribution channel segment includes online retail stores, drug stores, mass merchandisers and others. The online retail stores segment led the condom market with a market share of around 34.28% in 2021. In addition to rising digital literacy and internet access in emerging countries, increasing consumer preference for online purchases as well as freedom on e-commerce platforms will drive segment revenue.
Global Condom Market- Sales Analysis.
The sale of condoms market expanded at a CAGR of 5.3% from 2015 to 2021.
Some of the major factors contributing to the market's growth are sex education and prevention against STDs, as well as innovative packaging style, condom design, and promotional activities.
A growing number of people are adopting contraceptives as a preventative measure to avoid unwanted pregnancies. This trend is further spurred on by an increase in online distribution channels. Further, the free distribution of condoms by government organisations is expected to drive the market, which will facilitate the use of condoms in rural areas through UNFPA and other organizations.
To increase awareness about contraception and encourage people to use it to prevent sexually transmitted diseases and prevent unplanned births, governments all over the world are launching various campaigns and comprehensive sex education programs.
Thus, owing to the aforementioned factors, the global Condom Market is expected to grow at a CAGR of 8.6% during the Projection period from 2022 to 2029.
By Regional Analysis:
The regions analyzed for the gloves market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North America region dominated the condom market and held the 37.15% share of the market revenue in 2021.
Global Condom Market- Country Analysis:
Germany's condom market size was valued at USD 1.01 billion in 2021 and is expected to reach USD 1.5 billion by 2029, at a CAGR of 5.3% from 2022 to 2029. The prevalence of sexually transmitted diseases, unintended pregnancies, and government initiatives are on the rise which are propelling the growth of the condoms market in the country.
China condom market size was valued at USD 0.84 billion in 2021 and is expected to reach USD 1.27 billion by 2029, at a CAGR of 5.4% from 2022 to 2029. In order to encourage population control under the Chinese family planning policy, the Chinese government buys over 1 billion condoms each year for free distribution which will boost the growth of market in the country.
India’s condom market size was valued at USD 0.69 billion in 2021 and is expected to reach USD 1.02 billion by 2029, at a CAGR of 5.1% from 2022 to 2029. The Ministry of Health and Family Welfare procures free condoms and distributes them to high-risk groups through TI NGOs/ICTC HIV/AIDS prevention centers in India which will speed up the market growth in the projection period.
Key Industry Players Analysis:
To increase their market position in the global condom business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2021-2029 |
Base year |
2021 |
CAGR (%) |
8.6% |
Market Size |
9.9 billion in 2021 |
Projection period |
2022-2029 |
Projection unit |
Value (USD) |
Segments covered |
By Type, By Material, By Distribution Channel and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Cupid Limited, Mayer Laboratories, Inc., Karex Berhad, Veru, Inc., Okamoto Industries, Inc., Reckitt Benckiser Group, Fuji Latex Co., Ltd., Church & Dwight Co., Inc., Lelo, ONE Condoms, Sagami Rubber Industries Co., Ltd., Caution Wear Corp., and Lifestyle Healthcare Pte Ltd. |
By Type |
|
By Material |
|
By Distribution Channel |
|
Regional scope |
|
Scope of the Report
Global Condom Market by Type:
Global Condom Market by Material:
Global Condom Market by Distribution Channel:
Global Condom Market by Region:
Global Condom market is expected to reach USD 19.15 billion by 2029, at a CAGR of 8.6% from 2022 to 2029.
Lack of sex education is expected to challenge the market’s growth over the Projection period.
North America leads the condom market during the Projection period.
Cupid Limited, Mayer Laboratories, Inc., Karex Berhad, Veru, Inc., Okamoto Industries, Inc., Reckitt Benckiser Group, Fuji Latex Co., Ltd., Church & Dwight Co., Inc., Lelo, ONE Condoms, Sagami Rubber Industries Co., Ltd., Caution Wear Corp., Lifestyle Healthcare Pte Ltd. among others.
Rising awareness about sexually transmitted diseases and government initiatives to make people more aware of their reproductive health are some factors which are driving the growth of the condom market.
Rising awareness about sexually transmitted diseases and government initiatives to make people more aware of their reproductive health are some factors which are driving the growth of the condom market.
Political Factors- The administration is running deficit budgets at national and local levels, boosting the economy in the near term but could cause an increase in inflation over the medium term. Investment grade is the bond rating for the federal government. Since enforcement agencies typically report to local governments in their states about various laws, local governments significantly influence the policy-making process and implementation of most laws and regulations. The nation has a thriving civil society, and Condom should establish relationships with them and look for opportunities for collaboration. Groups from the civil society have an impact on shaping the narrative of the entire society as well as on policymaking.
Economical Factors- The economy's demand is increasing, as seen by the faster GDP growth rate. By broadening its product offering and concentrating on new markets, Condom can take advantage of this trend. Analyzing the shifts in customer purchasing patterns and newly emerging value propositions is a good place to start. High employment rates will affect Condom's strategy in two ways: first, they will offer enough consumers for the company's products, and second, they will make it more expensive for the company to recruit and retain talented and skilled workers. Credit binge consumption was a result of rising consumption and stagnant household income in the United States. As a result of this, people no longer have enough money to save.
Social Factor- The standard of the goods and cost structures of production processes frequently reflect the attitude toward health and safety. Due to its strict health and safety regulations, Condom may face competition in developing economies from businesses with less expensive cost structures. Varied societies and cultures around the world have different views on authority. While in the west it is something to rebel against, authority is valued in Asia. Before beginning a marketing effort for its goods and services, Condom should thoroughly assess its attitude toward authority. Society's educational level has an impact on both the standard of living and the quality of jobs. Higher incomes, better jobs, and increased spending on complicated and aspirational goods are frequent outcomes of higher education.
Technological Factors- Due to the importance of e-commerce to the Condom business strategy. Before entering a new market, it should assess the technology, e-commerce, and other infrastructure. The use of technology to empower supply chain partners should be examined by Condom. This could aid Condom in increasing supply chain flexibility and transparency. Mobile payments is one of the areas where the US lags behind China. A condom manufacturer should determine which mobile payment options are most popular in the local economy before deciding on a business model. For Condom to prevent shakedowns and IPR thefts, laws and cultural norms surrounding licencing of IPR and other digital assets should be carefully examined.
Environmental Factors- How much of the budget is allocated to using renewable energy sources, and how Condom may invest in these resources to stay competitive. how the supply chain and business model of Condom will be impacted by climate change. For instance, if the supply chain is rigid, it may produce bottlenecks if supplies from one region of the world are delayed due to an abrupt change in the weather. National and local environmental policies can frequently diverge. In making decisions pertaining to plant location, product development, and pricing strategy, for example, this can be helpful to Condom. Condom needs to be aware of how environmentally conscious consumers are. It will support Condom in creating environmentally friendly products and overcoming PR roadblocks.
Legal Factors- Condom must evaluate the company laws and how they differ from those in the domestic market. To comply with data rules in the nation, Condom must determine what needs to be done. For instance, most EU nations currently only want their citizens' data to be saved there. Even if a nation has the best laws, they won't mean anything if they can't be applied promptly. Given the potential legal difficulties Condom may encounter, Condom should conduct primary research to determine how long it typically takes to resolve a court case in the nation. The strength and legitimacy of the nation's institutions are frequently reflected in the judiciary's independence.
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