SAN FRANCISCO, Aug. 6, 2019 /PRNewswire/ -- The global condom market size is expected to reach USD 15.1 billion by 2026, based on a new report by Grand View Research, Inc., exhibiting a CAGR of 8.5% over the forecast period. Launch of new products and innovative packaging & promotional activities by international & local brands are expected to boost the market during the forecast period.
Key suggestions from the report:
- Latex condoms held the largest share in 2018 owing to safety and flexibility provided by natural rubber used to make condoms.
- Currently, latex products have a higher market share as these can be used with lubricants and sex toys, which makes them the preferred choice of customers
- In the product segment, male condoms held a significant share in 2018. However, there is substantial demand for female condoms in developed as well as developing nations
- The e-commerce distribution channel is expected to exhibit fastest growth during the forecast period due to increasing adoption of Internet & social media platforms for promoting safe sex
- On the basis of geography, Asia Pacific held the largest condom market share in 2018 and is expected to maintain its position during the forecast period
- In April 2017, AIDS Healthcare Foundation (AHF) with the health ministry of India announced the country's first free store under the name Love Condoms, as an initiative aimed at reducing HIV infections
- African countries such as Nigeria have a high unmet need. According to the AHF, in 2019, Nigeria has a deficit of 564 million and offered to distribute 600,000 condoms across the country.
- Some of the key players are Church & Dwight Co., Inc.; Reckitt Benckiser Group plc; Karex Berhad;Fujilatex Co., LTD.;LELO; LifeStyles Healthcare Pte Ltd.; Mayer laboratories, Inc.; Okamoto Industries, Inc.; Cupid Limited; andVeru, Inc.
Read 100 page research report with TOC on "Condom Market Size, Share & Trends Analysis Report By Material Type (Latex, Non-Latex), By Product (Male Condoms, Female Condoms), By Distribution Channel (Mass Merchandizers, Drug Stores, E-Commerce), And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/condom-market
For instance, in November 2018, Reckitt Benckiser's Durex brand introduced a new label "Feels" in South Africa. This range was made available at a lower cost as compared to other products offered by the company. Feels is sold at USD 0.71 in a pack of three, whereas Durex Fetherlite is sold at USD 2.83.This was a strategic move by the company to gain a higher share of the South African market, as public health organizations offer condoms free of cost in the country.
Social media plays a significant role in creating awareness about these products. Moreover, a condom is not only perceived as an economical method of contraception, but is also in demand as a product to improve sexual health. Variations in texture, flavor, and thickness of products available in the market help couples enhance their sexual experience.
Grand View Research has segmented the global condom market on the basis of material type, product, distribution channel, and region:
- Condom Material Type Outlook (Revenue, USD Million, 2015 - 2026)
- Condom Product Outlook (Revenue, USD Million, 2015 - 2026)
- Male Condoms
- Female Condoms
- Condom Distribution Channel Outlook (Revenue, USD Million, 2015 - 2026)
- Mass Merchandizers
- Drug Stores
- Condom Regional Outlook (Revenue, USD Million, 2015 - 2026)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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