Condom Market In-Depth Research On Basis Of Material Type, Product, Distribution Channel, Region And Forecast To 2028

 San Francisco, 4 Aug 2021: The Report Condom Market Size, Share & Trends Analysis Report By Material Type (Latex, Non-latex), By Product (Male Condoms, Female Condoms), By Distribution Channel (Drug Stores, E-commerce), By Region, And Segment Forecasts, 2021 - 2028

The global condom market size is expected to reach USD 17.5 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 8.42% from 2021 to 2028. 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. Furthermore, social distancing guidelines, restricted distribution channels, and country-wide lockdown in some regions restricted the sales of condoms in 2020.

Female condoms are gaining a lot of popularity due to the increasing awareness and demand among women, especially sex workers, for protection against STIs and unwanted pregnancies. Online platforms such as Clicks, JUMIA GROUP, Amazon, Besharam, shycart, Chemistdirect.co.uk, Condom King, and Kasha Kenya sell a wide variety of condom brands and variants. The availability of condoms on e-commerce sites helps customers avoid the need for interaction to ask for condoms, enabling them to overcome the social stigma surrounding their purchase.

To facilitate the proper supply of condoms in the market during the COVID-19 pandemic, top players focused on the supply chain. For instance, Reckitt Benckiser Group plc made changes to its supply chain to fulfill the increasing demand for condoms on e-commerce platforms.

Access Research Report of Condom Market @ https://www.grandviewresearch.com/industry-analysis/condom-market

Condom Market Report Highlights

• In terms of material type, latex held the largest share in 2020 owing to its effectiveness, durability, and flexibility. Latex condoms can be used with lubricants and sex toys, which makes them the preferred choice among customers
• On the basis of product, the male segment dominated the market in 2020 and is expected to maintain its growth in the years to come due to its low price and easy availability to the young population
• Based on distribution channel, the drug stores segment dominated the market in 2020. The e-commerce segment is expected to witness the fastest growth during the forecast period
• Asia Pacific dominated the market in 2020 and is expected to register the fastest growth rate over the forecast period due to various factors such as a large adult population, the presence of manufacturers involved in the export of condoms, and increasing awareness about sexual wellness products

List of Key Players of Condom Market

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