New York, May 05, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Condom Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" - https://www.reportlinker.com/p06067785/?utm_source=GNW
For instance, Online sales for house brand condoms, manufactured by Malaysian company Karex, shot up seven-fold during the first half of 2020, due to the national lockdown which began in March 2020. Some sexual wellness brands and retailers with inventory and shipment operations ready to scale up are reporting e-commerce sales twice as high as their pre-COVID-19 levels.
The rise in the adoption rates of contraceptive products among consumers across the world is boosting the demand for condoms. Moreover, growing awareness through government initiatives, along with comprehensive sex education programs to reduce the prevalence of sexually transmitted diseases, is driving the market growth across the world.
NGOs and governments of various countries are collaborating with condom manufacturers to promote the use of condoms and prevent sexually transmitted diseases by distributing condoms free of cost or at subsidized rates.
Apart from sex education and prevention against STDs, the introduction of innovative condom designs, coupled with innovative packaging style, increased marketing, and promotional activities are some of the major factors boosting the market growth further. There are many varieties and styles of condoms available, from flavored condoms to ultra-sensitive ones, like LifeStyles® SKYN™ Condoms.
Key Market Trends
Increased Usage of Contraceptive Methods Owing to Favorable Government Initiatives
Growing awareness through government initiatives and comprehensive sex education programs to reduce the prevalence of sexually transmitted diseases are driving the market growth across the world. Various regional governments are promoting the use of condoms for preventing unwanted pregnancies and preventing HIV/AIDS. 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. 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. Similarly, in African countries, the National Department of Health (NDOH) is taking steps to ensure easy availability of male condoms to all the communities across South Africa. Thus, promoting the sales.
Asia-Pacific Dominates the Condom Market
China is one of the largest markets for condoms, worldwide. Chinese authorities have tended in the past to supply condoms either free of charge or at subsidized prices. In recent years, though, expansion of the middle class has created more opportunities for individuals to exercise personal freedom by purchasing high-quality condoms at higher prices from retail stores. Such factors have been positives for popular condom brands such as Okamoto, which has gained brand recognition within the medium- and high-price brackets. Another major factor behind the market growth in China is that is it characterized by fierce competition, with over 200 manufacturers competing primarily on price in China
Additionally, the Indian government, in collaboration with HLL Lifecare, introduced the Nirodh brand of condoms intending to provide dual protection from unwanted pregnancy and sexually transmitted infections (STI). Moreover, in 2017, the AIDS Healthcare Foundation (AHF) launched India’s first free condom store intending to reduce HIV/AIDS cases in the country. . International brands are differentiated in terms of product quality. Therefore, factor such as these are expected to drive the condom market across the Asia-Pacific market
Competitive Landscape
The global condom market is fairly consolidated as the majority of the market is dominated by a few leading players. The market was led by Reckitt Benckiser Group PLC, followed by Humanwell Group & CITIC Capital, Church & Dwight, and Okamoto Global. These companies have shown a strong international presence owing to consistent innovations, product launches, and high-end strategic advancements in the global condom market. Trojan Condoms offered by Church and Dwight are the most popular condom in the global market and known as America’s most trusted brand for almost 90 years. All Trojan brand condoms meet or exceed strict FDA testing requirements. The company also entitles itself as an innovative and active condom manufacturer in the market, providing consumers with new product launches in the form of distinctive flavours and textures of condoms.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
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Read the full report: https://www.reportlinker.com/p06067785/?utm_source=GNW
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The global condom market was valued at USD 8,015.46 million in 2020 and is projected to register a CAGR of 7.82% during the forecast period (2021-2026
). The COVID-19 crisis is likely to accelerate trends that were already shaping the market, such as the rise of the global middle class and the use of e-commerce. Online distributors are recording increased interest, as home-bound consumers explore retail alternatives.
| Source: ReportLinker