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(Health-NewsWire.Net, June 25, 2020 ) Market Overview
• The Global Condom Market is expected to grow at a CAGR of 8.5% during the forecasting period (2020-2027).
• A condom is a thin piece of rubbery material which act as a barrier to protect from sexually transmitted infections (STIs) including HIV, and unplanned pregnancy.
• The rising adoption of contraceptive products among consumers globally is boosting the global condom market.
• The global condom market is growing due to several factors such as rising incidences of HIV/STIs, growing awareness towards sex education, innovations in condom design and material, among others.
• In addition, increased marketing and promotional activities about condoms is driving the market growth.
• Favorable government initiatives are also spurring the market growth. For instance, in 2018-2019, the government of Uganda announced spending of around USD 6.4 million for condom provision in a bid to curb the HIV/AIDs scourge.
• The global condom market is highly competitive with presence of large number of players. Some of the major players dominating the Condom Market are Reckitt Benckiser Group PLC, Church & Dwight Co. Inc., Fuji Latex Co. Ltd., Cupid Ltd., Kama Sutra (J.K. Ansell Ltd), among others.
• The key players are using digital and social media advertisements to make consumers aware of the new product launches in the market.
• The major players are focusing on online distribution channels for their online marketing and branding of products, in order to expand their geographic reach and increase their customer bases. For instance, in February 2016, Ansell launched its e-commerce website, Buy Condoms. Online, which offers condom ranges in the US market.
• Some of the major players are adopting various key strategies such as product launches, collaboration, and partnerships, which boosts their market share in the condom market. For instance,
• On 4th June 2019, Starpharma launched the VivaGel® condom in Japan under Okamoto’s leading and highly successful Zero Three (003) brand. This is the first condom with antiviral coating in Japan and will also carry Starpharma’s VivaGel® brand. The VivaGel® condom is a world-first product based on innovative Australian technology. It is the only condom of its type, providing barrier protection and incorporating the proprietary compound, astodrimer sodium (SPL7013) in the condom lubricant. SPL7013 has been proven in laboratory studies to inactivate up to 99.9% of HIV, HSV and HPV.
• In April 2019, an Argentina-based company designed a new “consent” packaging in the market, which requires four hands to open the package. This initiative was undertaken to create awareness about the importance of consensual sex. In January 2016, Reckitt Benckiser acquired condoms and lubricants business of Hypermarcas, which had presence in Brazil and owned three brands—Lovetex, Jontex, and Olla. The acquisition was anticipated to improve the company’s presence in Brazil.
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Market Segmentation Analysis
• Rising awareness towards sex education through government initiatives and programs to reduce the prevalence of sexually transmitted diseases (STDs) is one of the major factor driving the growth of the Condom Market globally.
• According to the World Health Organization, in 2017, there were over 2 million young people living with HIV globally and about one third of all new HIV infections around the world are estimated to occur among youths (aged 15–25). and teen pregnancy rates are on the rise in many places.
• These rising concerns leads to increase in sexuality education programs and interventions. Several governments are promoting the use of condoms for preventing unwanted pregnancies and preventing HIV/AIDS. For instance, in 2017, Public Health England launched ‘Protect against STIs’, a new campaign introduced to reduce the rates of sexually transmitted diseases among 16-24-year-olds through condom usage.
• Similarly, in India, free condoms are procured by the Ministry of Health and Family Welfare and are distributed by NACO/SACS to the high-risk groups (HRGs) through TI NGOs/ICTC/ART centers for HIV/AIDS prevention.
• The program focuses on the high prevalence and high fertility districts, with additional emphasis on ensuring condom availability in HRG sites: the vulnerable population intensive areas.
• DKT Tanzania is working in cooperation with UNFPA to offer iPLAN, a microinsurance package for young people that offers comprehensive family planning services. For just $4.25 a year, youth have access to long-term contraceptive methods, condoms, counseling, and HIV testing at DKT’s Trust Health and Wellness clinics.
Market Geographical Analysis
• The North America condom market is valued at USD XX Mn in 2018 and is estimated to grow at a CAGR of XX% over the forecast period to reach a USD XX Mn by 2026.
• North America Condom Market holds XX% of market share in 2018, and is expected to decrease by XX% by 2026, for global condom market.
• The United States accounted for the largest market in North America for Condom Market. In 2018, over 37 million Americans used condoms in 2018. Among sexually active women in the United States, less than 50% reportedly used at least one method of contraception in an effort to prevent pregnancy. Only around 10% of sexually active American women were actively trying to conceive or were already pregnant and hence were not using any contraceptives.
• The increasing use of condoms for family planning and for prevention from STD’s is boosting the market growth in the United States. In 2016, over 460 million condoms were sold in the United States.
• The growing US condom market is highly influenced by the increasing demand for premium condoms.
• In addition, the rise in sales of sexual wellness products in the North America is expected to boost the growth of the condom market over the forecast period.
• Also, there are several well-established American adolescent education channels which are providing sex education towards health and diseases and are rising awareness among Americans. Hence, the demand for condoms in North America is rising.
• On the other hand, the e-commerce distribution channel is set to grow during the forecast period, the offline retail channel is likely to dominate the US condom market during the forecast period.
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