Players are strategizing to enhance their revenue and profitability by practicing sound production techniques that will minimize product costs and mitigate associated risks in the global condom market.
According to the latest Arizton's market research report, the global condom market to reach around USD 13 billion by 2026, growing at a CAGR of over 9% during the forecast period.
Growing Awareness About Sexual Health Concerns to Propel the Global Condom Market Growth
There has been a widespread increase in sexually transmitted diseases (STDs) and sexually transmitted infections (STIs) over the last few years. This in turn, has led to a growing awareness for sexual health and well-being and concerted efforts in preventing these diseases. This awareness will positively impact the demand and purchase, and fuel the growth of the global condom market over the next few years.
Changing Economic Structures in Developing Economies to also Promote Global Market Growth
Contraceptives such as condom, are essential devices for birth control. With the increase in per-capita income and rise in dual income households owing to urbanization and more career-focused lifestyles in the developing countries, the use of these type of contraceptives are increasing thereby, giving a healthy push to the global condom market. This trend will continue over the next few years and will also position APAC as one of the leading markets for both male and female condom.
What’s Trending in the Market?
- Church & Dwight’s TROJAN condom brand is the number one condom brand in the US and has an operational legacy of over 100 years.
- Lifestyles Healthcare has opportunities to grow in the MEA market.
- Thailand 100% Condom Program is one of the key programs initiated in Thailand to prevent the spread of HIV among the population.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by product type, material type, distribution channel type, end-user, and geography
- Competitive Landscape – 4 Key Company Profiles and 31 Other Prominent Vendors
Global Condom Market – Geographical Analysis
The high penetration of condoms in countries such as Japan and China helped APAC to contribute significantly in both value and volume in the global condom market. The consumption in the region is on the rise due to the presence of an enormous population and increased disposable incomes. China being the largest market for condoms, will offer high growth potential in the upcoming years. The major reason for the increase in demand, owing to the innovative condoms such as Hex condoms by LELO among end-users. The US dominated the condom market in North America with a share of around 86% in terms of revenue in 2020. Retail stores are allocating dedicated space for creating sales of these products, thereby fueling the demand for condoms in North America.
Strategies Adopted by the Players in the Global Condom Market
The adoption of condoms is significantly increasing in the end-user segment. Players in the global condom market are focusing to alter and refine their value proposition to achieve strong market presence. Players in the condom market can consider several approaches as their growth strategy. Apart from targeting untapped markets by creating awareness of STDs, companies are also expected to meet the customer demands of product variety. Vendors must develop new technologies and need to remain abreast with the upcoming technologies to have a competitive advantage over other vendors. Arizton predicts that international players will grow inorganically by acquiring regional or local players in the future. Government authorities play an important role in the global condom market as they help players to reach consumers by leveraging the comparative advantages of each supply source. Players are strategizing to enhance their revenue and profitability by practicing sound production techniques that will minimize product costs and mitigate associated risks in the global condom market.
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