The global condom market is likely to cross $11 billion in terms of revenue by 2023
A recent report on the Global Condom Market - Global Outlook and Forecast 2018−2023, released by Arizton Advisory & Intelligence says that the global condom market is expected to see a substantial growth during the next five years.
Analysts at Arizton Advisory & Intelligence say that the market is likely to cross $11 billion in terms of revenue by 2023, with male and female contraceptives sold expected to cross 48 billion units. Further, they add that this rise in demand would be seen across geographical markets in both developed and developing economies.
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 in turn, 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, like 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.
Major vendors profiled in the report
Major manufacturers, in the global condom market, profiled in the report are:
- Church & Dwight
- Reckitt Benckiser Group
Other prominent manufacturers in the global market include BILLY BOY, Convex Latex, Cupid Limited, Fuji Latex, HBM Group, HLL Lifecare Ltd., Innova Quality, IXu, Karex Berhad, LELO, MTLC Latex, Sagami Rubber Industries, Shandong Ming Yuan Latex Co., Shanghai Dahua Medical Apparatus Co., Silk Parasol, StaySafe, STRATA Various Product Design, Thai Nippon Rubber Industry (TNR), Tianjin Condombao, and VERU (THE FEMALE HEALTH COMPANY).
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