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The global condom market size is expected to reach USD 10.97 billion by 2028. The increasing adoption of sexual health products will subsequently propel the healthy growth of the market, mentioned in a report titled, “Condom Market Size, Share & COVID-19 Impact Analysis, By Type (Male and Female), Material (Latex and Non-latex), Distribution Channel (Mass Merchandisers, Drug Stores/Pharmacies, Online Retail Stores, and Others), and Regional Forecast, 2021-2028.” The market size stood at USD 5.31 billion in 2020 and is expected to exhibit a CAGR of 9.4% between 2021 and 2028.
Introduction of New Female condom with Vibe by IXu to Augment Growth
IXu, A Michigan-based company, announced the introduction of female condoms, the latex VA®, with a powerful bullet Vibe, sold together in the new VA Vibe Kit. The Vibe Kit involves a small, powerful reusable Vibe the woman places strategically under the condom's outer rim. It rests tightly against the woman’s most sensitive outer genital region during intercourse. The VA offers the best protection based on its simple proven design, it integrates the most hyped miniature vibrating adult toys, functioning together during use. The powerful reusable (replaceable batteries) provides direct pulse stimulation through Vibe when used with the VA.
Moreover, the VA and Vibe together convincingly provide high orgasm rates for the female partner, states 50-couple User Study conducted by the company. Furthermore, in 2017, IXu LLC has developed the VA w.o.w.® Condom Feminine, a wireless, Bluetooth-enabled prophylactic with miniature vibrating parts embedded in the outer ring - the strategically-located white portion of the heart-shaped outer frame on the open end of a soft latex condom pouch. The introduction of innovative female-based products can have a significant impact on the market growth during the forecast period.
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Emphasis on Public Health and Safety by Governments to Fortify Market
The constant efforts of governments for sex education to spread awareness regarding sexually transmitted diseases (STDs) and reduce their prevalence will subsequently aid the expansion of the market. As per UNAIDS Global HIV & AIDS statistics, 2020 fact sheet, about 38.0 million world population was reported to have HIV infection in 2019. The innovative sex education programs and campaigns will simultaneously enable speedy expansion of the market. For instance, ‘The 100% condom use program’ in Asia, several campaigns such as ‘Protect against STIs - Public Health England’ as well as initiatives such as ‘Sexual and Reproductive Health Awareness Week,’ and ‘World Contraceptive Day’ among others. Besides, lower awareness in low-income countries coupled with the unavailability of sexual wellness products in rural areas will dampen the growth of the market.
Introduction of Eco-friendly and Sustainable Products by Major Brands to Intensify Business
The growing focus of players towards novel products with innovative flavors and variations to attract consumers will enable the expansion of the market. Moreover, the increasing emphasis on eco-friendly and safer products for consumers by prominent brands will further improve the prospects of the market. For instance, Ritex, a German manufacturer, used EKOenergy-labelled electricity for its sustainable product range, ‘PRO NATURE.’ Also, the key players in the market are adopting various strategies such as product launches, mergers, and acquisitions to consolidate their position in the market. For instance, in December 2018, ONE Condoms launched new ‘UltraFeel’ product. This is ONE’s thinnest condom that is also provided with a 2ml lubricant pouch.
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Value (USD Billion)
By Distribution Channel