Increasing population, rising use of condoms amongst teenagers, growing awareness regrading birth control and family planning to propel growth in global condom market through 2024.
According to Tech Sci Research report, “Global Condom Market By Gender, By Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2024”, the global condom market is anticipated to grow at a CAGR of over 9% during the forecast period on account of increasing use of condoms for birth control and rising awareness about the prevention of sexually transmitted diseases through sex education programs. Moreover, improvements in the marketing methods of condoms coupled with the availability of contraceptives on e-commerce websites are further expected to positively influence global condom market during forecast period.
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Global condom market can be segmented based on gender, type, distribution channel and region. In terms of gender, the market can be segmented into male and female. Male segment dominated the condom market in 2018 and is expected to maintain its dominance during the forecast period, as male condoms are inexpensive, easy to use with lesser side-effects. Based on type, the condom market can be segmented into latex and non-latex. Among them, the latex type is popular among the population owing to its benefits such as low cost and outstanding elasticity.
On the basis of region, condom market is segmented into North America, South America, Europe, Asia-Pacific and Middle East & Africa. On account of the initiatives taken by the governments in economies such as India, China, among others to control sexually transmitted diseases and growing population, Asia-Pacific condom market is likely to witness higher growth rate during the forecast period.
Church & Dwight Co. Inc., The Female Health Company, ORION Versand GmbH & Co. KG, Fuji Latex Co. Ltd, Mankind Pharma, Karex Industries Sdn Bhd, KamaSutra (J.K. Ansell Ltd), Graphic Armor LLC, Reckitt Benckiser Group PLC, HLL Life Care Ltd, etc., are some of the leading players operating in global condom market. Companies operating in the market are using organic strategies such as product launches as well as mergers and collaborations to boost their share and expand their presence in the market. For instance, Ansell launched its e-commerce website, so that the consumers can buy a wide range of condoms, lubricants, and pleasure products online.
“The global condom market is anticipated to witness growth during the forecast period owing to rising population and increasing awareness pertaining to unintended pregnancies. Moreover, the introduction of new flavored condoms for the consumers is further anticipated to positively influence the growth of global condom market over the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
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“Global Condom Market By Gender, By Type, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global condom market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global condom market.
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