The growth of the market is likely to be helped by the release of new, innovative products and the marketing done by the top players in the market. For example, Reckitt Benckiser Group plc released Durex invisible ultra-thin condoms in India in October 2020, making them the first and thinnest condoms in India.
The COVID-19 pandemic changed how people behaved, shifting the trend away from shopping in stores and towards shopping online. During the early stages of the pandemic, people in several countries bought too much out of fear and ran out of supplies. In 2020, condom sales were also limited by rules about keeping a safe distance from people, limited distribution channels, and lockdowns in some parts of the country. Female condoms are becoming very popular because more and more women, especially those who work in the sex industry, want to protect themselves from STIs and unwanted pregnancies.
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Online stores like Clicks, JUMIA GROUP, Amazon, Besharam, Shycart, Chemistdirect.co.uk, Condom King, and Kasha Kenya sell a wide range of condom brands and types. When condoms are sold on e-commerce sites, customers don’t have to talk to anyone to ask for them, which helps them get over the social stigma of buying condoms. During the COVID-19 pandemic, the top players focused on the supply chain to make sure that there was a steady supply of condoms on the market. Reckitt Benckiser Group plc, for example, changed its supply chain to meet the growing demand for condoms on e-commerce sites.
In 2021, the male condom segment was worth $9.8 billion, making it the most valuable part of the market. The condom market is split between condoms for men and condoms for women. The male condom market is growing because manufacturers are putting more effort into making them and people are more open-minded about using them than they are about using female condoms. Due to the spread of HIV/AIDS, there is a high demand for male condoms in Africa that is not being met. Most couples prefer to use male condoms, so there is a higher demand for them.
During the forecast period, the female condom segment is expected to grow at the fastest rate, at a rate of 12.69% CAGR. STIs and unplanned pregnancies are less likely to happen when women use female condoms. In January 2019, the FDA made a female condom gender-neutral and gave it the generic name “single-use internal condom.” It was put in the category of an over-the-counter device.
The World Health Organization (WHO) has a strict prequalification process for female condoms that only a few companies have been able to pass. This leaves a lot of room for growth in this market for companies. Top companies like Veru, Inc. are going after this market segment because there is a lot of unmet demand.
Key Market Players & Competitive Landscape
Some of key players in condom market are TTK Group, Graphic Armor LLC, Sagami Rubber Industries, Ansell Healthcare LLC, Church & Dwight, and Reckitt Benckiser Group.
The use of condoms made from Isoprene Rubber Latex has been shown to reduce both the birthrate and the spread of STDs. As a result of increased manufacturing of condoms and medical gloves, the Asia-Pacific region has become the world’s largest market.
The U.S. Condom market is segmented as follows:
- Male Condom
- Female Condom
By Distribution Channel
- Commercial Outlets
- Non-commercial Outlets
- Non-traditional Outlets