Condom Market - Growth, Trends, and Forecasts (2022 - 2027)

Condom Market - Growth, Trends, and Forecasts (2022 - 2027)

The condom market was valued at USD 8,714.3 million in 2021, and it is projected to witness a CAGR of 8.20% during the forecast period, 2022–2027.

The overall condom market witnessed double-digit growth in the first quarter, while Manforce Condoms had been on track from July 2020 onwards with a positive growth trend, thus, continuing to be the largest selling condom brand in India. Online distributors are recording increased interest as home-bound consumers explore retail alternatives. 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.

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. Wide varieties and styles of condoms are available, from flavored condoms to ultra-sensitive ones, like LifeStyles® and SKYN™ Condoms.

Key Market TrendsIncreased 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 is driving the market growth across the world. Various regional governments are promoting the use of condoms to prevent unwanted pregnancies and preventing HIV/AIDS.

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, emphasizing condom availability in HRG sites: the vulnerable population intensive areas. Moreover, various brands, such as Hindustan Latex Family Planning Promotion Trust, Population Health Services India, Pashupati Chemicals & Pharmaceutical Limited, HLL Lifecare Limited- a PSU, Parivar Seva Sanstha, Population Services International, Janani, and DKT India, are the organizations that socially marketed condoms in India under NACO CSMP.

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, the 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 positive 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 it is characterized by fierce competition, with over 200 manufacturers competing primarily on price.

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). In 2019, the government ruled out USD INR 8,000 crore for the BharatNet project to provide broadband services to 150,000 village councils (gram panchayats) in India. The government supports e-commerce in the country for people to access primary and advanced consumer goods quickly, and condoms are a considerable part of these goods. Therefore, factors such as these are expected to drive the condom market across the Asia-Pacific region.

Competitive Landscape

The condom market is fragmented and highly competitive, with the presence of multiple regional and multinational brands. The key players holding the market are Reckitt Benckiser Group PLC, Humanwell Group, Church & Dwight Co., Inc., and Okamoto Industries Inc. Reckitt Benckiser’s Durex condoms brand offers a wide selection of distinctly different condom styles, from the thinnest, sensitive latex condoms to studded, ribbed to increase its share in the market. Trojan Condoms offered by Church and Dwight are the most popular condom across the world and are known as one of America's most trusted brands. 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 flavors and textures of condoms.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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