Pune India, Dec. 21, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the condom market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the condom market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the condom market segments which have been formed by combining different prospects such as the material, product, type, end user and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs. The significant players operating in the global gloves market are Cupid Limited, Mayer Laboratories, Inc., Karex Berhad, Veru, Inc., Okamoto Industries, Inc., Reckitt Benckiser Group, Fuji Latex Co., Ltd., Church & Dwight Co., Inc., Lelo, ONE Condoms, Sagami Rubber Industries Co., Ltd., Caution Wear Corp., Lifestyle Healthcare Pte Ltd. among others. To achieve a substantial market share in the worldwide condom market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
A condom reduces the likelihood that a person will become pregnant or contract a sexually transmissible infection while having a sexual encounter. In addition to sex education and STD prevention, the introduction of innovative packaging styles and condom designs has all boosted the market's growth, along with the introduction of promotional activities and packaging styles. Increasing awareness about sex education is helping the condom market grow, as people are becoming more aware of the consequences of unprotected sexual activity. In addition, the market will continue to grow due to the increasing use of contraceptives to prevent unwanted pregnancies, as well as the growing use of online distribution channels. Manufacturers developing new and innovative condoms are one of the leading factors propelling the market growth. This will continue to add value to the market growth in the future. Moreover, with increased advertisements, companies can promote their products more and more, which will ultimately result in increased sales and help the consumer to know about the new features of the product. The market for female condoms will grow in the upcoming years due to an increasing acceptance of condoms as a preventative tool against STIs and unplanned pregnancies, along with the distribution of free condoms by government organizations.
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Scope of Condom Market Report:
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Type, Material, Distribution Channel and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Cupid Limited, Mayer Laboratories, Inc., Karex Berhad, Veru, Inc., Okamoto Industries, Inc., Reckitt Benckiser Group, Fuji Latex Co., Ltd., Church & Dwight Co., Inc., Lelo, ONE Condoms, Sagami Rubber Industries Co., Ltd., Caution Wear Corp., Lifestyle Healthcare Pte Ltd. among others |
Segmentation Analysis
Male condom segment is expected to be the fastest-growing segment in 2021.
The type segment includes female condom and male condom. The male condom segment is expected to witness the highest growth rate during the forecast period. The majority of the market share will go to male condoms as a result of their higher usage rates, lower costs, and greater availability.
Latex is expected to be the fastest-growing segment in 2021.
The material segment includes non-latex and latex. The latex segment is expected to witness the highest growth rate during the forecast period. Most brands on the market sell condoms made of latex due to the high level of effectiveness offered by latex condoms, a form of natural rubber that is durable, flexible, and effective in contraception and protecting against sexually transmitted diseases. The growth of the condom market is boosted by the high acceptance of latex condoms among consumers.
Online retail stores are expected to be the fastest-growing segment in 2021.
The distribution channel segment includes online retail stores, drug stores, mass merchandisers and others. The online retail store segment is expected to witness the highest growth rate during the forecast period. Growing Internet access and digital literacy in emerging countries will drive segment revenue in addition to increasing consumer preferences for online purchases.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for condoms include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
Government initiatives have been taken to reduce the number of HIV-positive people in the United States in 2020, according to the Centers for Disease Control and Prevention (CDC). Furthermore, the presence of major players in the region and the launch of new products are expected to influence the growth of the region.
Country Analysis
- Germany
Germany's condom market size was valued at USD 1.01 billion in 2021 and is expected to reach USD 1.5 billion by 2029, at a CAGR of 5.3% from 2022 to 2029.
Condom demand is growing in the country as sexually transmitted diseases become more prevalent, unintended pregnancies increase, and government initiatives promote condom use which will boost the growth of the market in the country.
- China
China’s condom market size was valued at USD 0.84 billion in 2021 and is expected to reach USD 1.27 billion by 2029, at a CAGR of 5.4% from 2022 to 2029.
A major initiative of the Chinese government under its family planning policy is to buy over one billion condoms a year for free distribution, which will boost the country's market.
- India
India’s condom market size was valued at USD 0.69 billion in 2021 and is expected to reach USD 1.02 billion by 2029, at a CAGR of 5.1% from 2022 to 2029.
A free condom distribution program is being implemented by the Ministry of Health and Family Welfare through TI NGOs and the ICTC HIV/AIDS prevention centers in India, which is expected to speed up market growth in the projection period.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising awareness about the importance of healthy reproductive health.
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