The condom market comprises products that provide protection against unintended pregnancy and sexually transmitted diseases. Condoms are worn over the penis during sexual intercourse to form a barrier that blocks sperm from entering the vagina or anus. Some key advantages of condoms include preventing unwanted pregnancy with over 98% effectiveness when used correctly, protection from sexually transmitted infections such as HIV/AIDS, chlamydia, genital herpes, human papillomavirus, and syphilis. The growing awareness regarding the use of barrier method for contraception and disease prevention as well as government initiatives to educate masses regarding safe sex practices is fueling the demand for condoms.
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 between 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). These players dominate the global market with their diverse product portfolio and strong geographical presence across the world.
The demand for condoms is growing significantly owing to increasing awareness about sexually transmitted diseases and rising focus on family planning programs globally. Factors such as the rise in casual relationships, untrusted partners, and infertility risks associated with STDs are further propelling the demand.
The condom market is witnessing high growth potential in emerging economies worldwide. Various government and non-government organizations are investing heavily in awareness campaigns, especially in developing regions to curb the spread of HIV/AIDS and promote sexual wellness. This, along with increasing acceptance of protective measures and rising disposable incomes, is expected to drive the global expansion of the condom market during the forecast period.
Market key trends
One of the major trends witnessed in the condom market is the emergence of new types of condoms. Companies are focusing on product innovation and introducing novel condoms variants to appeal to niche consumer segments. For instance, condoms flavored, studded, textured and those made of natural/organic latex are now available. Similarly, thin condoms are being developed to enhance sensitivity. Advancements in material sciences are also allowing manufacturers to develop stronger and high-quality condoms. Such product advancements aligned with evolving preferences are expected to positively influence the condom market size over the coming years.
Porter’s Analysis
Threat of new entrants: It is moderate as condom manufacturing require substantial infrastrucure and regulation compliance.
Bargaining power of buyers: Buyers have high bargaining power due to availability of various products from competitors.
Bargaining power of suppliers: Suppliers have low bargaining power as raw materials like latex are abundantly available
Threat of new substitutes: Threat is low as condoms are effective contraceptives with less side effects.
Competitive rivalry: Intense as major players compete on pricing and product innovation.
Geographical Regions
Asia Pacific accounts for over 50% of global condom market value due to high population countries and awareness campaigns.
North America region is growing fastest due to increasing sexual wellness trend and easy availability through e-commerce and retail stores.
