Condom Market Trends, Size, Share Growth Insights, Industry Research and Business Forecast to 2027
The global ''condom market share'' is expected to reach USD 9.90 billion by 2027, exhibiting a CAGR of 9.3% 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 Fortune Business Insights, in a report, titled“Condom Market Size, Share and COVID-19 Impact Analysis, By Type (Male and Female), Material (Latex and Non-latex), Distribution Channel (Mass Merchandisers, Drug Stores, Online, and Others), and Regional Forecast, 2020-2027.”The market size stood at USD 4.48 billion in 2019.
COVID-19 Impact Analysis:
The coronavirus incident has caused colossal loss to several
industries across the globe. The governments of several countries have
instigated lockdown to thwart the spread of this deadly virus. Such plans have
caused disturbances in the production and supply chain. But, with time and
resolution, we will be able to combat this stern time and get back to
normality. Our well-revised reports will help companies to receive in-depth
information about the present scenario of every market so that you can adopt the
necessary strategies accordingly.
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
Key Market Driver:
Increasing Consciousness aboutBirth 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 contraceptive product has escalated from 4.5% in 1994 to
10.0% in 2019 globally. As per the same report, the number of women (those with
reproductive age of 15 to 49 years) relying on male condoms as a means of
contraception has substantially increased from 64 million in 1994 to 189
million in 2019. 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 these products. 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 this 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, it is 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.
Reasons to Purchase this Report:
- Comprehensive
analysis of the market growth drivers, obstacles, opportunities, and other
related challenges.
- Tracks the
developments, such as new product launches, agreements, mergers and
acquisitions, geographical expansions, and joint ventures.
- Identifies
market restraints and boosters.
- Identifies all
the possible segments present in the market to aid organizations in
strategic business planning.
Key Questions Answered:
Why Choose Fortune Business Insights?
What are the key demands and trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
What is the market size and growth rate of the global and regional market by
various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast
period?
What Factors are estimated to drive and restrain the market growth?
Key Development:
October 2020: Durex, a brand based in Britain introduced a new
product range, ‘‘Durex invisible condoms’’. This was launched in India as
India’s thinnest product.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/condom-market-104519
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