Aug 14, 2019   SOURCE: PR NewsWire

The condom market is expected to grow at an impressive CAGR of more than 9% during 2018-2024

NEW YORK, Aug. 14, 2019 /PRNewswire/ --

The condom market is expected to grow at an impressive CAGR of more than 9% during 2018-2024.

Read the full report: https://www.reportlinker.com/p05219021/?utm_source=PRN

The growth of online stores, which sell condoms, sensual lingerie, and sexual lubricants has grown up significantly, thereby providing a wide scope for vendors to manufacture and promote sexual wellness products. The promotion of the concept of safe sex using condoms through social media is contributing to the increased sale of condoms via online channels. Further, the emergence of innovative designs such as heaxagonal condoms and growing popularity of female condom is driving the global condom market growth.

The female condom market is estimated to grow at a CAGR of over 20% during the period 2018?2024, thereby increasing the scope for the growth of the global condom market. An open attitude toward women sexuality, the increasing participation of women in sexual adventures, and an increase in the awareness of women's sexual rights are driving the female condom market. With organizations actively seeking to commercialize the scale of production and usage of female condoms, the market is expected to offer significant growth opportunities to vendors during the forecast period.

The following factors are likely to contribute to the growth of the global condom market during the forecast period:
-- Growing awareness of sex education programs
-- Innovations in condom designs
-- The increased popularity of female condoms
-- Influence of the internet in shaping the purchasing behavior among end-users

This research report on the condom market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis. The study includes insights on segmentation by distribution channels (retail and online) by material type (latex and non-latex), product type (males and females), end-users (branded and institutional), geography (APAC, Europe, Latin America, MEA, and North America).

Condom Market: Segmentation

This market research report includes detailed market segmentation by distribution, end-users, product types, material types, and geography. The increased demand from institutions such as public health organizations, NGOs, and global organizations to promote the concept of safe sex and increase the awareness of sexually transmitted diseases (STD) is significantly contributing to the growth of the condom market worldwide. Institutional buyers such as UNFPA, USAID, WHO, and other UN agencies are the most significant promoters of male and female condoms. Further, as the fight against HIV has been on for decades now, the demand from institutional condoms in underdeveloped regions has witnessed a significant rise in the past years.

The male condoms segment dominates the condoms market worldwide. A high sexual vigor among males is the major factor for the high percentage of the male condoms segment. Also, the ease of availability, wearability, and disposability of these condoms is another driver for the high share of the segment. Currently, the global female condom market is witnessing rapid growth in the demand for female condoms across the globe.

Given their excellent tensile strength, tear resistance, and resilience, the latex condoms segment dominated the condom market in 2018. Latex remains the predominantly used raw material for the manufacturing of male condoms. The massive purchase and distribution of latex condoms by federal health bodies and UN health missions is another major driver for the high share of the segment.

While the majority of condom distribution takes place through retail stores, established by leading condom manufacturers such as Reckitt Benckiser and Church & Dwight, the increasing sale of condoms via online stores and online direct-to-consumer stores is expected to drive the condom market during the forecast period. The growth of online sales is expected to increase by over 20% YOY during the forecast period.

Market Segmentation by Distribution
-- Retail
o Specialty stores
o Supermarkets and hypermarkets
o Drug stores
o Grocery stores
-- Online
Market Segmentation by Material Type
-- Latex
-- Non-latex
o Polyurethane
o Polyisoprene
o Nitrile
o Lambskin
Market Segmentation by Product Type
-- Male
-- Female
Market Segmentation by End-users
-- Branded
-- Institutional

Condom Market: Geography

Improving living standards, increase in per capita disposable incomes, the high usage of innovative condoms, and the growing emphasis on the concept of safe sex are some of the major factors driving the condom market in APAC. In addition, the increased expansion of manufacturing units following the adoption of new technology is contributing to the growth of the market. Further, high growth in countries such as India, China, Japan, and South Korea is another reason driving condom adoption in the region.

Robust institutional sales by government and federal agencies, NGOs, and charitable organizations institutional buyers such as USAID, UNFPA, Bill & Melinda Gates Foundation, and PSI are majorly boosting the condom market in the North America region. Although the sale of branded condoms remains moderate in the region, institutional sales are likely to uplift the market revenue during the forecast period.
The increased adoption of birth control measures, the growing popularity of condoms, especially in women, and the increased per capita disposable income are the key drivers for the Europe condom market. Further, oil-based economies of the Middle East are witnessing an increase in the investor sentiment, thereby boosting consumer products, especially condoms in MEA. Substantial GDP improvements, the decline in poverty levels, and the rise in the condom usage in Brazil and Argentina are expected to propel the condom market in Latin America.

Market Segmentation by Geography
-- APAC
o China
o Japan
o India
o Malaysia
o Indonesia
o Singapore
o South Korea
o Thailand
o Myanmar
o Sri Lanka
o Taiwan
o Vietnam
o Cambodia
o Philippines
o New Zealand
o Australia
-- Europe
o UK
o Germany
o France
o Russia
o Italy
o Spain
o Poland
o Sweden
o Portugal
o Netherlands
o Norway
o Denmark
o Turkey
-- Latin America
o Brazil
o Argentina
o Mexico
o Chile
o Peru
o Colombia
-- MEA
o South Africa
o Ethiopia
o Nigeria
o Kenya
o Algeria
-- North America
o US
o Canada

Key Vendor Analysis
The competitive scenario in the condom market is currently intensifying. The rapidly changing technological environment could adversely affect vendors as customers expect continual innovations and upgrades. The present situation is forcing vendors to alter and redefine their unique value proposition to achieve a strong market presence. The market is moderately fragmented with many global players providing condoms with high functionality and designs. The market competition is expected to intensify further with an increase in product/service extensions, technological innovations, and mergers and acquisitions.

Key Vendors
-- Church & Dwight
-- LifeStyles Holdco
-- Okamoto Industries
-- Reckitt Benckiser

Other Prominent Manufacturers
-- BILLY BOY (MAPA)
-- Convex Latex
-- Cupid Ltd.
-- Fuji Latex
-- HBM Group
-- HLL Lifecare Ltd.
-- Innova Quality
-- IXu
-- Karex Berhad
-- LELO
-- MTLC Latex
-- Sagami Rubber Industries
-- Shandong Ming Yuan Latex Co.
-- Shanghai Dahua Medical Apparatus Co.
-- Silk Parasol
-- StaySafe Condoms
-- STRATA Various Product Design
-- Thai Nippon Rubber Industry (TNR)
-- Tianjin Condombao
-- VERU (The Female Health Company)
-- Innolatex Ltd.
-- Nulatex
-- Tianjin Human Care Latex Corp.
-- Bally

Key Market Insights
The report provides the following insights into the condom market for the forecast period 2019-2024.
-- Offers market sizing and growth prospects of the market for the forecast period 2019-2024.
-- Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the market.
-- Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
-- Delivers a complete overview of market segments and the regional outlook of the market.
-- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market.

Read the full report: https://www.reportlinker.com/p05219021/?utm_source=PRN

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