Condom Market Analysis, Insights, Competitors and Forecast upto 2026 | Ansell Ltd., Reckitt Benckiser Group Plc., Karex Industries Sdn. Bhd., Church & Dwight Co. Inc.

Condom Market Insight
The global condom market is projected to grow at the rate of 9.8% during the forecast period, 2018-2023. Significant growth in adoption rate of contraceptive products among consumer across the globe is likely to boost the condom market growth. In recent time period, market has witnessed the entry of many new player due to increased demand of latex and non-latex condoms. Increasing competition among market players has led to the innovation in material, shape, and packaging of the condom products. Customers are expecting continuous innovations and upgrades, which are pushing key players to change and redefine their unique value proposition to improve market presence.

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Growing Awareness about Sexually Transmitted Disease to Drive the Growth of the Condom Market:

Growing awareness through, government initiatives and comprehensive sex education programs to reduce the prevalence of sexually transmitted diseases is driving the market growth across the globe. For example, in the financial year (2018-2019) government of Uganda will spend around USD 6.4 million (for condom provision in a bid to curb the HIV/AIDs scourge in the country. Rising efforts toward family planning and birth control measures are also supporting the market growth. Additionally, rising influence of internet and development and innovation in product designs is likely to fuel the market growth in the upcoming years. Developing countries are witnessing significant growth in sales of condom owning to rising popularity of female condom and growing expenditure towards contraceptive products.

Latex Condom to Continue to Dominate the Condom Market:

The male condom segment dominated the market both in terms of revenue and volume and is expected to continue its dominance over forecast period. However, the female condom segment is witnessing significant growth in various countries. For instance, according to National South African Female Condom Program, around 80% of female prefers female condom over other female contraceptives which is driving the sales of female condoms in the country. Easy availability and affordable prices of latex condom is expected to continue its dominance in the market. Growing popularity of specialty condoms such as glow-in-the-dark, textured, flavored, and pleasure shaped condoms is supporting the growth of non-latex condoms. Although the e-commerce distribution channel is set to increase during the forecast period, the offline retail channel will likely to dominate the market share during the forecast period.

Asia-Pacific Region to Witness Higher Growth Rate in Condom Market (Rigional Analysis):

Asia-Pacific is one of the largest market for condoms especially due to the introduction of stringent government initiatives to control the AIDS epidemic and the growth in population. Nevertheless, Asia-Pacific region is predicted to further improves its market share due to the rapidly growing acceptance of condoms among consumers. Growing online penetration and digitization are resulting in the strong market growth in the countries like China, India, and Japan. In developed economies, the market is highly influence by rising in demand for premium condoms. Additional, growth in sales of sexual wellness products in North America is likely to support the market growth of condom market during the forecast period.

Key Developments in the Condom Market:

Feb 2016: Ansell launch of its new e-commerce website BuyCondoms.Online. Following Ansell’s rapid e-commerce growth in China and Australia over the last two years. The platform is designed to meet the demands of consumers by offering a wide- range of condoms, lubricants, and pleasure products in a convenient online store.
Jan 2016: Reckitt Benckiser signed a definitive agreement to acquire Hypermarcas’ Brazilian condom and lubricants business. Hypermarcas is one the leading Brazilian condom manufacturers, through its three brands such as Jontex, Olla and Lovetex.

Condom Market Major Players
Ansell Ltd., Reckitt Benckiser Group Plc., Karex Industries Sdn. Bhd., Church & Dwight Co. Inc., HLL Life Care Ltd., Fuji Latex Co. Ltd., Graphic Armor LLC., Sagami Rubber Industries., Mankind Pharma., B Holding Group, LLC. , Caution wear. , Cupid Ltd.

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This release was published on openPR.