Condom Market Size, Share, and Growth Key Trends and Revenue Forecast to 2032

The global condom market size was valued at USD 5.30 billion in 2023 and is projected to be worth USD 5.79 billion in 2024 and reach USD 13.23 billion by 2032, exhibiting a CAGR of 10.9% during the forecast period. The growing awareness regarding STDs such as, hepatitis B, Syphilis, trichomoniasis, and chlamydia can fuel demand for condoms, which, in turn, will aid the expansion of the market, states

Numerous sectors around the world have suffered enormous losses as a result of the coronavirus catastrophe. To stop the spread of this deadly illness, the governments of a number of nations have implemented lockdowns. The supply chain and production have been disrupted by such initiatives. However, we will be able to overcome this difficult period and return to normalcy with time and resolution. Our updated reports will give businesses comprehensive knowledge about the current state of each market, enabling them to implement the appropriate strategies.

Top Key Company in the Condom Market:

• Reckitt Benckiser Group (Slough, U.K.)
• LifeStyles Healthcare Pte Ltd (Melbourne, Australia)
• Mankind Pharma (New Delhi, India)
• Church & Dwight Co., Inc. (Ewing, U.S.)
• Cupid Limited (Nashik, India)
• Karex Berhad (Selangor, Malaysia)
• Veru Inc. (Miami, U.S.)
• HLL Lifecare Limited (Thiruvananthapuram, India)
• Mayer Laboratories, Inc. (Sonoma, U.S.)
• Okamoto Industries, Inc. (Tokyo, Japan)

Browse Detail Summary for the Condom Market:

https://www.fortunebusinessinsights.com/condom-market-104519 

The report on the condom market features:

• Far-reaching analysis of the market
• Essential facts about prominent players
• Dominant regions in the market
• Key drivers and trends
• Significant development
• Market challenges and restraints
• Coronavirus effect

Market Driver:

Increasing Consciousness about Birth Control to Effectively Uplift Market

The growing knowledge about the use of condoms as a contraceptive can have an excellent impact on the market growth during the forecast period.  As per the report, Contraceptive Use by Method 2019 of the United Nations, the prevalence of male condoms has escalated from 4.5% in 1994 to 10.0% in 2019 globally. Furthermore, the increasing utilization of other control methods such as oral pills can simultaneously improve the prospects of the market. However, oral pills have adverse effects and cause hormonal imbalance in women, resulting in serious health problems. Therefore, the weakened inclination towards contraceptive pills among women can subsequently fuel demand for condoms. Besides, the rising sex education in developing nations can have a positive impact on the market in the forthcoming years.

 Increased Supply of Essential Health Products to Elevate Market amid COVID-19

The lockdown imposed by governments restricted the supply of various products. However, the accessibility and supply of essential wellness products have improved the scope of the market during the pandemic. The United Nations Population Fund (UNFPA) provided a summary in their brief published in April 2020 ‘Condoms and lubricants in the time of COVID-19’. It has provided necessary actions that needed to be taken to sustain supplies of condoms during the time of COVID-19 to ensure unintended pregnancies, as well as other concerns of unprotected sex, do not surface during the lockdown. Moreover, the increasing product availability and enhanced supply chain with no lockdown will consequently boost the growth of the market in the time of the pandemic.

Regional Analysis:

Ever-increasing Population to Spur Demand in Asia Pacific

The market in Asia Pacific is lucrative and is expected to experience a rapid growth rate during the forecast period owing to the ever-increasing population and increasing education level in the developing nations. The growing awareness regarding birth control methods can have an excellent impact on the market in Asia Pacific. The implementation of childbearing policies to control the population will effectually aid the growth of the market in the region. The increasing number of unwanted pregnancies will further spur demand for condoms, thus promoting the growth of the market. As per the report, Contraceptive Use by Method 2019 of the United Nations, in Eastern and South-Eastern Asia, condoms are one of the most prevalent contraceptive methods accounting for 17% share in 2019. Europe and North America are expected to experience a steady growth rate owing to the higher usage rate of contraceptive products. As per the report, Contraceptive Use by Method 2019 of the United Nations, condoms in Europe and Northern America account for 14.6% share among all contraceptive methods in 2019.

Key Development:

• March 2023: Durex, a U.K.-based condom brand, launched Durex Real Feel, its new range of non-latex condoms featuring a polyisoprene material.