9-Jan-2020: 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.
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.
In
depth research report on Condom Market
Further key findings from the report suggest:
·
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.
Grand View Research
has segmented the global condom market on the basis of material type, product,
distribution channel, and region:
Condom Material Type Outlook (Revenue, USD Million, 2015 -
2026)
·
Latex
·
Non-Latex
Condom Product Outlook (Revenue, USD Million, 2015 - 2026)
·
Male Condoms
·
Female Condoms
Condom Distribution Channel Outlook (Revenue, USD Million,
2015 - 2026)
·
Mass Merchandizers
·
Drug Stores
·
e-Commerce
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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