Condom Market Set to Reach $16.15 Billion by 2028 as Condoms Gain Mainstream Market Traction, Shifting Away from Down-Market Outlets – Arizton

According to Arizton’s latest research report, the global condom market will grow at a CAGR of 8.85% during 2022-2028.  

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Since 2008, the demand for condoms has been growing. The economic recession of 2008−2009 in the US sparked the demand for condoms among US nationals. This demand can be attributed to the growing perception that sex is a stress buster with added benefits of lowering blood pressure and anxiety, which were common health challenges among individuals during the recession. Furthermore, awareness of sexual rights among women in developing countries also contributed to market growth worldwide.  

The global condom market has left behind the phase where these products used to be sold in down-market shops. The market has witnessed a remarkable shift in consumer interest and attitude recently. Conversations on sexual fantasies and pleasure have rapidly increased and have begun to come to the forefront. This has created a phenomenal shift in consumer expectations and acceptability of sexual wellness products, such as condoms and lubes, in the mainstream market. Vendors have also capitalized on this opportunity and have brought retailing of these products out of the shadows to the forefront in stores. They have made their products available in mass-market retail chains such as Wal-Mart, Tesco, Sainsbury’s; and drug retailers, such as Rite Aid, Walgreens, and Boots; and e-commerce sites, including Amazon and eBay. Condoms have entered the mainstream market recently, and physical retail outlets display these products prominently in the Sexual Health and Wellness or Personal Needs section. E-commerce sites display various options and provide benefits, such as ease and confidence in shopping, as many consumers shy away from purchasing these products at physical stores. 

Key Highlights  

• APAC will continue to be the largest market for condoms during the forecast period. 
• In 2022, following APAC, North America had the second-highest share of over 24% in revenue and volume. Latin America held the lowest share of the market. However, it is expected to witness a significant CAGR during the forecast period.  
• In 2022, male condoms accounted for over 98.48% and 99.02% of the global condom market in revenue and volume. However, the female condom segment is expected to witness a significant CAGR of over 24.09% in revenue. 
• In terms of material, the latex condom segment dominated the market with a share of over 80.81% in terms of revenue and over 93.38% in terms of volume. 
• Branded condoms dominated the market in revenue, and institutional condoms dominated the market in volume.  
• The future demand will witness strong traction from African countries, China, Brazil, and India. 
• Africa will continue to be the largest market for female condoms during the forecast period. 
• The demand for female condoms will witness strong traction in APAC after the arrival of low-cost female condoms and expand the retail presence of major players. 

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Strategies Adopted by the Vendors to Cope Up with the Market Competition 

The competition in the global condom market is stepping up. The rapid change in the technological environment can adversely affect vendors as customers expect continual innovations and upgrades. The present scenario forces vendors to redefine their unique value proposition to achieve a strong market presence. The market is moderately fragmented, with many international players providing condoms with high functionality and designs. The major vendors in the market are Reckitt Benckiser, Okamoto Industries, LifeStyles, and Church & Dwight. These companies have a global presence, at least in three major regions: North America, APAC, and Europe. However, local vendors provide products with similar specifications at lower prices. This has intensified price wars among vendors, and the market has the threat of infiltration with low-quality products. The major vendors continually compete for the leading position in the market, with occasional competition coming from other local vendors. Although the market is characterized by diverse international and regional vendors, as international players increase their footprint, regional vendors will find it increasingly difficult to compete with them. The competition will be based solely on features, such as quality, quantity, technology, services, innovation, and price. The market competition is expected to intensify further with an increase in product/service extensions and technological innovations, and M&A. Arizton believes that international players will grow inorganically by acquiring regional or local players. Furthermore, companies with better technical and financial resources can develop innovative products, threatening competitors and making their products non-competitive and even obsolete before recovering R&D and commercialization costs. Therefore, vendors must develop new technologies and remain up to date with the upcoming technologies to have a competitive advantage. 

Key Company Profiles 

• Reckitt Benckiser Group 
• Okamoto Industries 
• LifeStyles Healthcare Pte. Ltd. 
• Karex Berhad 
• Church & Dwight 
• BILLY BOY (MAPA) 
• LTC Healthcare 
• Caution Wear 
• Convex Latex 
• Cupid Limited 
• Dongkuk Techno 
• Double One 
• Fuji Latex 
• HBM Group 
• HLL Lifecare Limited 
• GLYDE 
• Innolatex Limited 
• Kamyra Condoms 
• Japan Long-Tie (China) 
• LELO 
• Mankind Pharma 
• Mayer Laboratories 
• Mister Size 
• Nulatex Sdn. Bhd. 
• Ritex 
• Sagami Rubber Industries 
• Shandong Ming Yuan Latex Co. 
• Skins Sexual Health 
• Silk Parasol 
• StaySafe Condoms (AdvaCare Pharma) 
• Unique Condoms International 
• Thai Nippon Rubber Industry 
• R&S Consumer Goods GmbH 
• Hello Cake 
• Veru (The Female Health Company) 
• Sustain Natural 

Market Segmentation 

Product Type 

• Male Condom 
• Female Condom 

Material Type 

• Latex Condom 
• Non-Latex Condom 
• Polyurethane 
• Polyisoprene 
• Nitrile 
• Lambskin 

End-user 

• Branded Condom 
• Institutional Condom 

Distribution Channel 

• Offline 
• Specialty Stores 
• Mass-Market Players 
• Drug Stores/Pharmacies 
• Grocery Stores 
• Online 

Geography 

• APAC 
• China 
• Japan 
• India 
• Australia 
• South Korea 
• Indonesia 
• Malaysia 
• Singapore 
• New Zealand 
• Thailand 
• Philippines 
• Vietnam 
• Sri Lanka 
• Rest of APAC 
• North America 
• The U.S. 
• Canada 
• Europe 
• The U.K. 
• Germany 
• Italy 
• France 
• Spain 
• Netherlands 
• Poland 
• Sweden 
• Denmark 
• Norway 
• Rest of Europe 
• Middle East & Africa 
• UAE 
• Kenya 
• Saudi Arabia 
• Nigeria 
• South Africa 
• Algeria 
• Ethiopia 
• Others 
• Latin America 
• Brazil 
• Mexico 
• Argentina 
• Colombia 
• Peru 
• Chile 
• Others 

Key Questions Answered in the Report:  

• How big is the condom market? 
• What is the growth rate of the global condom market? 
• What are the growing trends in the condom market? 
• Which region holds the most significant global condom market share? 
• Who are the key players in the global condom market? 

Get the Detailed TOC @ https://www.arizton.com/market-reports/global-condom-market-2024?details=tableOfContents 

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