Condom Market: Non-Latex Condoms Segment Is Estimated To Witness The Fastest Growth At A 9.93%

 Condom Industry Overview

The global condom market size is expected to reach USD 20.6 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.52% from 2022 to 2030. The increasing awareness regarding condom use as a measure to reduce the spread of HIV and other STIs and the availability of various types of condoms to suit consumer needs are likely to drive the market during the forecast period.

 

The launch of innovative products and the promotion by the top players in the market are expected to enhance the market growth. For instance, in October 2020, Reckitt Benckiser Group plc launched Durex invisible ultra-thin condoms in India, creating a benchmark of India's first invisible and thinnest condom.

The COVID-19 pandemic caused a consumer behavior change, shifting the trend towards e-commerce from physical retail shopping. During the early phase of the pandemic, several countries witnessed shortages due to panic buying by consumers.

 

Condom Market Segmentation

Grand View Research has segmented the global condom market based on material type, product, distribution channel, and region:

Based on the Type Insights, the market is segmented into Latex Condoms, and Non-latex Condoms.

  • The latex condoms held the largest segment share in terms of revenue in 2021 with a valuation of USD 8.78 billion. Latex and non-latex material type are key type segments analyzed in this study. The launch of new products and rising demand from aging baby boomers are expected to boost the market for latex and non-latex condoms over the forecast period.
  • The non-latex condoms segment is estimated to witness the fastest growth at a 9.93% compound annual growth rate (CAGR) during the forecast period. This can be attributed to some of the benefits of these condoms over latex condoms such as thin, odorless, and non-allergic. Non-latex condoms evolved from the need for latex alternatives due to the number of allergy cases reported for latex condoms.

 

Based on the Product Insights, the market is segmented into Male Condoms, and Female Condoms.

  • The male condom segment dominated the market and reached a valuation of USD 9.8 billion in 2021. The condom product market is divided into male and female condoms. The growth of the male condom segment can be attributed to factors such as manufacturers' focus on the production of male condoms, open-mindedness regarding their use as compared to female condoms, and diverse portfolio. Underdeveloped countries in Africa have high unmet demand for male condoms due to the increasing prevalence of HIV/AIDS.
  • The female condom segment is estimated to witness the fastest growth of 12.69% compound annual growth rate (CAGR) during the forecast period. Female condoms are being increasingly accepted for reducing the risk of STIs and unplanned pregnancy. In January 2019, a female condom was given a genderless rebranding by the FDA and was assigned a generic name “single-use internal condom.” It was classified as an over-the-counter device.

 

Based on the Distribution Channel Insights, the market is segmented into Mass Merchandizers, Drug Stores, and E-Commerce.

  • The drug stores segment dominated the market and accumulated a valuation of USD 4.81 billion in 2021. The growth can be attributed to factors such as the easy availability and access to drug stores. However, the trend is moving towards e-commerce due to closed markets and restrictions on physical movement during the pandemic. E-commerce is expected to exhibit the fastest growth of 9.11% compound annual growth rate (CAGR) during the forecast period. Discrete delivery services and freedom to choose on e-commerce platforms are anticipated to fuel the segment growth.
  • Digitalization in recent times has resulted in improving access to the internet in developing and underdeveloped countries, resulting in scope for significant growth for e-commerce platforms. Key players such as Church & Dwight and Reckitt Benckiser are focusing mostly on aggressive online marketing strategies to promote their condom brand, thus reflecting the importance and potential of e-commerce.

 

Condom Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

 

Key Companies Profile & Market Share Insights

The market is highly competitive with the presence of well-established global brands, such as Durex and Trojan. However, many local companies in various countries are trying to gain market share with the launch of innovative products, packaging, and promotion to cater to the demand of local customers.

Leading manufacturers are also adopting strategies, such as acquisitions and partnerships, to sustain their position in the market. For instance, in November 2020, Karex Berhad acquired the remaining 30% stake in the U.S. condom firm GP, thus owing 100% of GP.

Private companies such as LifeStyles Healthcare Pte. Ltd. and Cupid Limited have a significant presence globally. LifeStyles Healthcare has strong employee strength & product portfolio. Cupid Limited exports male & female condoms in almost 66 countries around the world, aiming to expand of product portfolio & market presence. In August 2020, Cupid Limited received the U.S. FDA approval to market male condom variants in the U.S., which is in line with its expansion strategy. Some of the prominent players in the global condom market include:

  • Church & Dwight Co., Inc.
  • Fuji Latex Co., Ltd.
  • Reckitt Benckiser Group
  • Karex Berhad
  • Lelo
  • LifeStyles Healthcare Pte Ltd.
  • Veru, Inc.
  • Mayer Laboratories, Inc.
  • Okamoto Industries, Inc.
  • Cupid Limited

 

Order a free sample PDF of the Condom Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

Contact:

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Grand View Research, Inc.

Phone: 1-415-349-0058

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Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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