Condoms are thin sheath-like barriers made from natural membranes or synthetic materials that are used during sexual intercourse to contain ejaculated semen and reduce the risk of sexually transmitted infections and pregnancy. They are an effective method of contraception and come with a host of advantages like high accessibility, affordability, ease of use, and can be used without a prescription or medical supervision. The availability of condoms in various flavors, textures, colors and styles has made them appealing especially among the younger population. With the increasing awareness about sexually transmitted diseases and unplanned pregnancies, condoms remain one of the most popular and trusted forms of contraception worldwide. However, social stigma and cultural taboos still limit their uptake in some conservative regions.
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, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends observed in the global condom market is the rising demand for innovative condoms. Manufacturers are focusing on enhancing the natural feel and sensitivity by incorporating new materials and designs in condoms. For example, thin condoms often create the perception of heightened sensitivity during intercourse. Similarly, studded or textured condoms are marketed to increase friction and stimulation. Flavored condoms are another fast-growing segment with increasing popularity among young couples. Technological advancements are also enabling manufacturers to design ultra-thin yet durable condoms. 3D printing technology is being utilized to manufacture ultra-sensitive condoms in various shapes and textures. Such innovations are anticipated to augment the growth of the condom market over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderately low as significant capital is required to establish manufacturing and distribution infrastructure. Bargaining power of buyers: The bargaining power of buyers is high since condoms are commoditised products with many brands available in the market. Bargoning power of suppliers: The bargaining power of suppliers is moderate as raw materials for condom manufacturing are easily available. Threat of new substitutes: The threat of new substitutes is low as there are limited substitutes available for condoms. Competitive rivalry: The competitive rivalry is high among existing condom manufacturers due to presence of many global as well as regional players.
Key Takeaways
The Global Condom Market Demand is expected to witness high growth.
Regional analysis: The Asia Pacific region currently dominates the global condom market and is expected to continue its dominance during the forecast period. Factors such as increasing awareness about safe sex practices, rising population and family planning programs by governments in countries like China and India are expected to drive the growth of the condom market in the region.
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) and 17 others. Players are focusing on new product launches and expanding their production facilities to strengthen their market position. For instance, in 2022, Durex launched its first ever mint and tropical flavored condoms in the US market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
