January 02, 2020
According to the research report titled ‘Condom Market Size By Type (Natural Condom [Latex, Lambskin], Synthetic Condoms [Polyurethane, Polyisoprene, Nitrile]), By Product (Male Condom, Female Condom), By Sector (Institutional, Non-Institutional), By Distribution Channel (Retail [Specialty Stores, Drug Stores, Supermarkets and Hypermarkets], Online, Others), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, Russia, Poland, Netherlands, Belgium, Czech Republic, Greece, Portugal, Sweden, Hungary, Austria, Switzerland, Denmark, Norway, Japan, China, India, Australia, South Korea, Indonesia, Vietnam, Malaysia, Singapore, Thailand, Malaysia, Philippines, Hong Kong, Bangladesh, Myanmar, Brazil, Mexico, Argentina, Colombia, Peru, Venezuela, Chile, Ecuador, Saudi Arabia, South Africa, UAE, Nigeria, Ethiopia, Egypt, Kenya, Ghana, Malawi, Zimbabwe, Tanzania, Iran, Turkey, Iraq, Qatar, Israel, Kuwait, Lebanon), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global condom market is expected to cross USD 7 billion by the year 2025.
Growing occurrence of sexually transmitted diseases is the major factor driving the growth of condom market. Various governments and non-profits organizations across the globe are collaborating with key industry players to encourage the use of condom among the consumers. This factor, coupled with increasing awareness pertaining to safe-sex are aiding the expansion of the market.
By type, natural condom market held 70% revenue share in 2018 and is expected to register continuous growth during the estimated timeframe. These condoms are made using latex or lambskin/lamb cecum which help prevent skin rashes. Moreover, natural condoms are more durable and have better strength as compared to plastic condom and hence widely preferred.
The report cites that male condom segment is projected to grow with a CAGR of 7% during the period of 2019-2025. Male condoms not only offer protection against gonorrhea, chlamydia, and HIV, but also prevents unwanted pregnancy more efficiently as compared to its counterpart.
In terms of sector, condom market from institutional segment was worth USD 2 billion in 2018. Various governments across the globe are offering contraceptives at lower costs in order to minimize the birth rates in the respective countries, thereby fueling the growth of the segment.
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Based on distribution channel, online segment is expected to grow by 8.5% over the forecast period. Social stigma is compelling consumers to use online distribution channels to buy condoms. Moreover, key industry players are promoting discounts through online platforms. This factor, in tandem with increasing internet access in emerging economies are facilitating the segmental growth.
Considering geographical landscape, Asia-Pacific condom market is expected to grow by 9% in the forthcoming years, owing to growing population and rising occurrence of STD across the region.
The prominent companies operating in condom market are Mankind Pharma, Karex Berhad, Cupid Ltd., Mayer, Okamoto Industries, Veru, Reckitt Benckiser Group, FUJILATEX, and Church & Dwight among others.
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