Condom Market Revenue To Cross USD 16.2 Bn By 2027: Global Market Insights Inc

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The natural condom market is projected to witness 9.4% growth rate through 2027. People who are usually sensitive to foreign materials often prefer natural materials that's surges the segment growth. Moreover, natural male and female condoms have benefits over synthetic variant such as it does not break unlike other material that further favors the overall market value.

The female condom market was valued at USD 605 million in 2020. The female condom is a type of a contraceptive that allows individuals and couples to exercise their fundamental right to choose when and how many children to have. Due to increasing cases of HIV across the globe, female's condoms have become an important tool for preventing STI or pregnancy. Female condom is widely available on online platform or any retail store and can be bought without any prescription that impel the segment expansion.

The institutional segment in the condom market crossed USD 4.6 billion in 2020, as institutional sector offers free condom and also at a lower cost as compared to non-institutional sector. Additionally, institutional sector buy condoms directly through manufacturers on a larger scale and is further distributed through rallies or other awareness campaigns that surges the segment demand. Institutional buyers such as WHO, USAID, UNFPA, and other government agencies are the most significant promoters of male and female condom.

The condom market for online platform segment is estimated to attain a CAGR of 11% till 2027. Manufacturers are developing their own websites all over the world in order to make purchasing more convenient. Growing digital literacy and internet access across the globe including rural areas will stimulate the segment revenue. For instance, market leaders such as Mankind Pharma is leveraging social media and moment marketing to promote the Manforce condom brand that further increases customer engagement that reflects the importance and potential of e-commerce. Similarly, different awareness campaign about safe sex through social media is helping to increase condom sales through online platform that accelerates the overall industry expansion.

Asia-Pacific condom market captured 44% of revenue share in 2020. According to the National Health and Family Planning Commission of China, the country is among the top four countries in terms of condom use and production in the world. High regional growth is attributed to increasing prevalence of HIV infection coupled with rising demand for female condoms in various countries including India, China, Japan and others due to large population base. Furthermore, rising adoption of contraceptive products among consumers coupled with increasing awareness about sex education and innovative product launch are set to spur the industry progression.  

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Some of the prominent players operating in the market include FUJILATEX, Church & Dwight, Reckitt Benckiser Group, Okamoto Industries, Veru, Mayer, Karex Berhad, Mankind Pharma, Cupid Limited. These market participants are implementing various growth strategies to sustain industry competition. These companies are focusing on offering advance services and strategic partnerships to gain a higher market share.

Table of Contents (ToC) of the report:

Chapter 3 Condom Market Insights

3.1  Industry segmentation

3.2  Industry landscape, 2016 - 2027

3.3  Industry impact forces

     3.3.1  Growth drivers

     3.3.2  Industry pitfalls and challenges

3.4  Growth potential analysis

     3.4.1  By type

     3.4.2  By product

     3.4.3  By sector

     3.4.4  By distribution channel

3.5  COVID-19 impact analysis

3.6  Market Share analysis, 2020

3.7  Regulatory landscape

3.8  Product innovation

3.9  Porter's analysis

3.10  Competitive landscape, 2020

3.11  PESTEL analysis

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Condom Market revenue to cross USD 16.2 Bn by 2027: Global Market Insights Inc

Source:PR Newswire

Condom Market revenue to cross USD 16.2 Bn by 2027: Global Market Insights Inc