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.
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.
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.
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Ryan Shaw Joined: August 11th, 2017 Articles Posted: 601