Global Condom Market Outlook and Forecasts 2021-2026: Latex Condoms are Expected to Reach a Revenue of Approx. $10 Billion

DUBLIN, April 28, 2021 /PRNewswire/ -- The "Condom Market - Global Outlook and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

Latex condoms are expected to reach a revenue of approx. USD 10 billion by 2026.

The global condom market by value is expected to grow at a CAGR of over 9% during 2020-2026

KEY QUESTIONS ANSWERED:

• How big is the condom market?
• How many condoms are sold in 2020?
• Which segment accounted for the largest condom market share?
• Which factors are expected to drive the adoption of contraceptive products?
• What is the size of the condom market in India?

Condoms are the most widely used contraceptive product globally, with sales of more than 35 billion units in 2020. Factors such as increased demand from developing markets, the introduction of innovative variants such as flavored condoms, and increased marketing and visibility of these products online have contributed to the growth of the global condom market.

GLOBAL CONDOM MARKET SEGMENTATION

In 2020, the male condom segment dominated the market with a share of over 98% and 99% by revenue and unit shipments, respectively. The significant factors that influence the growth of the male contraceptives industry are high sexual activeness among males, ease of use and high availability, prevention of sexually transmitted diseases and infections, and cost-efficiency. Moreover, these protective devices have evolved to improve their functionalities over the decades.

The application of several materials to improve the pregnancy prevention rate is also increasing their demand. Polyurethane, polyisoprene, and nitrile are a few non-latex materials used for manufacturing. Graphene and silicone have been tested to enhance the performance and offer a natural feel and sensation. In several countries, male condoms are promoted and distributed as an essential element for HIV prevention and family planning programs, thereby influencing growth. Female condoms are gaining popularity, and the market is expected to witness a significant CAGR of over 19%.

Latex condoms are expected to reach a revenue of approx. USD 10 billion by 2026. With a correct blend of additives, they can exhibit better performance and aesthetics. These are found to perform better with water and a range of silicone-based lubricants. Further, they are found to be suitable to accommodate various fragrances and flavors. Another major driver for adopting latex material is the massive purchase and distribution by federal and UN health missions.

INSIGHTS BY GEOGRAPHY

The consumption of condoms in the APAC region is on the rise due to an enormous population and increased disposable incomes. Developed markets cannot keep pace with the growth of emerging markets in APAC, as China and India are growing both in consumption size and purchasing power.

APAC is witnessing the high growth of middle-income families, which have different social moorings and norms. These families have transformed because of the increased global exposure via the internet and media. There has been a rise in the level of awareness and experimentation of sexual wellness in the region.

Moreover, the consumer market in APAC, particularly in Southeast Asian countries, is poised to grow at a tremendous rate because of buyers' higher spending power in several countries. The sale of condoms was adversely affected during Q1 and Q2 2020. According to a United Nations report, South Asia's sale was damaged with the eruption of the COVID-19 pandemic as over 1,800 clinics and outlets were shut down.

INSIGHTS BY VENDORS

Reckitt Benckiser, Okamoto Industries, LifeStyles (LifeStyles Healthcare), and Church & Dwight are the major vendors in the global condom market.

The adoption rate of condoms among end-users worldwide has been increasing moderately. Therefore, the market has witnessed the entry of many vendors due to increased demand. Intensifying competition among market players has led to the introduction of innovative and advanced solutions in the market.

The global contraceptives market is dominated by vendors that have an international presence. Many global players are expected to expand their presence worldwide during the forecast period, especially in the fast-developing countries in APAC and Latin America, to gain market share. In addition, improving global economic conditions would fuel the growth of the market, making it an attractive time for the launch of new products.

Market Dynamics

Market Opportunities & Trends

• Internet Shaping Purchasing Behavior
• Innovative Condom Designs
• Increasing Popularity of Female Condoms
• High Penetration of Dating Applications In APAC

Market Growth Enablers

• Sex Education Programs Driving Awareness
• Efforts Toward Family Planning & Birth Control
• Branding Via Impactful Campaigns
• Government Initiatives For Free Condom Distribution
• Growing Prevalence Of STIs

Market Restraints

• Limited Popularity, Availability, & Affordability Of Female Condoms
• Availability of Several Substitutes
• Rise in Product Counterfeiting
• Psychological Barrier Among Consumers
• Risks Associated with Condom Usage

Prominent Vendors

• Church & Dwight
• LifeStyles Healthcare
• Okamoto Industries
• Reckitt Benckiser Group

Other Prominent Vendors

• BILLY BOY (MAPA)
• Bally
• Caution Wear
• Convex Latex
• Cupid Limited
• Dongkuk Techno
• Double One
• Fuji Latex
• HBM Group
• HLL Lifecare Ltd
• Innova Quality
• Innolatex Limited
• IXu
• Japan Long-Tie
• Karex Berhad
• LELO
• Mankind Pharma
• Mayer Laboratories
• MTLC Latex
• Nulatex SDN. BHD.
• Ritex
• Sagami Rubber Industries
• Shandong Ming Yuan Latex Co.
• Shanghai Dahua Medical Apparatus Co.
• Silk Parasol
• StaySafe Condoms (AdvaCare Pharma)
• STRATA Various Product Design
• Thai Nippon Rubber Industry
• Tianjin Condombao
• Tianjin Human Care Latex Corporation
• The Female Health Company (VERU)

For more information about this report visit https://www.researchandmarkets.com/r/z53zhf

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