Global Condom Market Grows Steadily at a CAGR of 8.02%

Introduction

A condom is a sheath-shaped barrier to prevent pregnancy and sexually transmitted infections (STI) during sexual activity. Condoms are designed to be worn over the penis or inserted into the vagina prior to sexual activity and are made of latex, polyurethane, or lambskin. Their use reduces the risk of contracting gonorrhea, trichomoniasis, hepatitis B, chlamydia, and HIV/AIDS by a significant amount. They also protect against genital herpes, syphilis, and human papillomavirus (HPV).

Market Dynamics

Favorable Government Initiatives Drive the Global Market

Government initiatives and comprehensive sex education programs designed to lower the prevalence of sexually transmitted diseases are driving the global market expansion. Diverse regional governments promote condoms to prevent unwanted pregnancies and HIV/AIDS. In 2017, Public Health England launched "Protect against STIs," a new campaign to reduce the prevalence of sexually transmitted diseases among 16-to-24-year-olds through condom use. The campaign was supported by numerous organizations, including the Family Planning Association (FPA), Durex, and the British Association for Sexual Health and HIV (BASHH).

Strategic Investments by Key Players Creates Tremendous Opportunities

Market leaders have made significant investments to expand their production capacities and geographic presence, thereby driving the global condom market. Companies strategically invest in developing innovative products with enhanced benefits in response to shifting consumer preferences and to gain a competitive advantage. LifeStyles, a subsidiary of Humanwell Group, introduced its thinnest latex condom (52% thinner than a standard condom) in 2019 under its brand name. It was introduced in response to consumers' growing demand for condoms that are not only thin but also lightweight.

In addition, the market has witnessed the emergence of private-label brands hitting shelves with various promotional offers and discounts due to the rising demand for various condom products and the high economies of scale. These factors have provided consumers with various options, thereby creating opportunities for market expansion during the study period. In 2019, Playboy (American Men's Magazine) and Thai Nippon Rubber Industry Public Company Limited ("TNR") launched Playboy Condoms in collaboration. The condoms are sold at retailers such as Walmart and Amazon.

Regional Analysis

Asia-Pacific is the most significant global condom market shareholder and is anticipated to exhibit a CAGR of 9.89% over the forecast period. This can be ascribed to a surge in demand in countries like China, India, Australia, and Japan, where a large population, favorable government initiatives to control the population, and the prevalence of STDs and HIV have increased demand. The Chinese market has substantial expansion potential. The goal of domestic startups is to increase their market share. A manufacturer in Gansu Province introduced a condom made of polyurethane derived from water in June 2017. The manufacturer claims that this product has the thinnest sheath. It was intended to increase the market share of Japanese manufacturers Sagami and Okamoto.

The regional government is also implementing numerous initiatives and programs to promote safe reproductive health. In 2017, the National Health Mission and the Ministry of Health and Family Welfare of the Indian government updated the National Health Policy and the National Rural Health Mission. These policies encourage the use of condoms as contraception, thereby stimulating market expansion.

Europe is estimated to exhibit a CAGR of 3.09% over the forecast period. Europe held the second-largest share due to the increasing demand from lesbians, sex workers, and men who have sex with men. In order to mitigate the transmission of HIV throughout Europe, governmental measures have been introduced to promote the utilization of contraceptives among the younger demographic. For instance, the French Ministry of Health announced in November 2018 that doctors would be reimbursed for prescribing condoms as part of an initiative to combat HIV and AIDS. Diverse efforts are being made to raise awareness of the importance of condoms in preventing sexually transmitted diseases, unintended pregnancies, and other undesirable sex-related complications.

In addition, Germany is the first nation to promote condom use among its military personnel. As part of a campaign to raise awareness about sexually transmitted diseases and educate people about the German healthcare system, the German Aids Service Organization provides free condoms to refugees. In 2018, a total of 350,000 contraceptives were distributed during this campaign.

Key Highlights

• The global condom market was valued at USD 41 billion in 2022. It is estimated to reach USD 20.43 billion by 2031, growing at a CAGR of 8.02% during the forecast period (2023–2031).
• Based on type, the global condom market is bifurcated into latex and non-latex. The latex segment dominates the global market and is projected to exhibit a CAGR of 7.41% over the forecast period.
• Based on end-users, the global condom market is divided into men and women. The men's segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 7.95% over the forecast period.
• Based on distribution channels, the global condom market is divided into supermarkets/hypermarkets, convenience stores, pharmacies and drug stores, online retail stores, and other distribution channels. The pharmacies and drug stores segment is the largest revenue contributor and is expected to exhibit a CAGR of 3.67% throughout the forecast period.
• Asia-Pacific is the most significant global condom market shareholder and is anticipated to exhibit a CAGR of 9.89% over the forecast period.

 

Competitive Players

1. Reckitt Benckiser Group PLC
2. Veru Inc.
3. Humanwell Group
4. Church & Dwight Co. Inc.
5. Mankind Pharma Limited
6. Mayer Laboratories Inc.
7. Cupid Limited
8. CPR GmbH
9. Okamoto Industries Inc.
10. Karex Berhad

Recent Developments

• March 2023- Durex introduced Durex Genuine Feel, a non-latex condom line. As per the company, Real Feel is manufactured from polyisoprene, which is softer than latex rubber and provides skin-on-skin sensation to partners.
• May 2023- Sirona, an Indian personal hygiene brand, announced the acquisition of Bleü, India's first vegan condom brand, a sexual wellness brand. This also signals the brand's entry into India's rapidly expanding sexual wellness market.

Segmentation

1. By Type
   1. Latex
   2. Non-latex
2. By End-User
   1. Men
   2. Women
3. By Distribution Channel
   1. Hypermarkets/Supermarkets
   2. Convenience Stores
   3. Pharmacies and Drug Stores
   4. Online Retail Stores
   5. Other Distribution Channels