April 24, 2024

Condom Market is Estimated to Witness High Growth Owing to Rising Awareness About Sexually Transmitted Diseases Protection

The condom market comprises condoms or prophylactics that are usually made from latex, but several producers use lamb intestine, polyurethane or polyisoprene. Condoms are worn externally on the penis during sexual intercourse or sexual activity as a method of contraception or STI protection to reduce the probability of pregnancy or sexually transmitted infections (STIs). The usage of condoms provides dual protection against unintended pregnancy and sexually transmitted infections which is fueling the market growth.

The global condom market is estimated to be valued at US$ 11.76 Bn in 2024 and is expected to exhibit a CAGR of 22% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in The Condom Market are Agilent Technologies, Inc. (US), Shimadzu Corporation (Japan), MERCK KGAA (Germany), Thermo Fisher Scientific (US), DigiPath, Inc. (US), Steep Hill Inc. (US), SC Laboratories, Inc. (US), PharmLabs LLC (US). Key players are investing in research and development activities to introduce innovative products in the market.

There is high potential for growth in the Asian countries due to increasing population and rising awareness regarding safe sex. Condom brands are taking initiatives to reduce social stigma and promote condom usage through multimedia campaigns.

Growing globalization has facilitated international trade and easier availability of condoms across all regions of the world. Leading condom brands are expanding their manufacturing facilities and distribution networks globally to leverage opportunities.

Market drivers

Rising prevalence of HIV/AIDS and other sexually transmitted diseases is the major factor augmenting the market growth. As per WHO, there were around 38 million people living with HIV globally in 2019 and efforts are being made worldwide through awareness programs to prevent the transmission of the disease. This is increasing focus on safe sex practices and boosting demand for condoms. Initiatives by governments and NGOs to promote condoms as a preventive measure and make available through various distribution channels are positively impacting the market revenues.

PEST Analysis
Political: Condom production and sales are regulated by government policies and standards on quality and safety. Changes in laws regarding the marketing and distribution of condoms can impact the market.

Economic: Condoms are an essential commodity especially in developing nations due to population control initiatives. Economic growth drives the demand as people have increased discretionary spending. Higher disposable incomes increase the acceptance of contraceptives.

Social: Social factors like sex education, awareness programs, changing attitudes towards safe sex practices are driving the demand. Urbanization, youth population growth and sexuality openness are favorable for the category. Stigma or cultural objections in some regions act as a restraint.

Technological: Advancements in material science are leading to stronger, thinner, better feeling condoms. Technologies that enhance comfort, sensation and lubrication help increase popularity. Nanotechnology and biomaterials may enable next-generation condoms.

The geographical region where the condom market is concentrated in terms of value is Asia Pacific. Countries like China, India and Indonesia have large populations and government policies promoting contraceptive use to control population growth. The region is expected to continue dominating the global market over the forecast period owing to rising living standards and discretionary spending.

North America is projected to be the fastest growing region for the global condom market between 2024-2031. Increased awareness about safe sex practices especially among youth and growing acceptance of intimacy products are fueling the demand. Easy availability through multiple sales channels is another factor supporting market growth. Focus on sexual wellness as a lifestyle trend is expected to sustain the momentum.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it