Male Condoms Market to Reach $13.97Bn by 2028 at 8% CAGR with Non-Latex Segment Driving Growth During 2022–2028 | The Insight Partners
The non-latex segment held the largest male condoms market share in 2022 and expected to grow with a CAGR of 10.4% from 2022 to 2028. The key players in male condoms industry includes Reckitt Benckiser Group Plc, Okamoto Industries Inc, Karex Bhd, Church & Dwight Co Inc, Mankind Pharma Ltd, Cupid Ltd, Unique International SAS, Fuji Latex Co Ltd, Humanwell Healthcare Group Co Ltd, and Thai Nippon Rubber Industry Pcl.
Pune, India, July 04, 2023 (GLOBE NEWSWIRE) — According to Recently Published Report by The Insight Partners, “Male Condoms Market Size Report, Forecast to 2028 – COVID-19 Impact and Global Analysis by Material (Latex and Non-Latex), Product Type (Flavored Condom, Studded, Warming, Pleasured, and Others), and Distribution Channels (Drug Stores/Pharmacies, Supermarkets/Hypermarkets, Online Pharmacies, and Others)”; the male condoms market size is projected to reach $13.97 billion by 2028, which was valued at $8.80 billion in 2022; it is estimated to register a CAGR of 8.0% from 2022 to 2028. Based on product type, the flavored condom segment is expected to register the highest CAGR during 2022-2028.
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Rising Cases of Sexually Transmitted Infections Boost Global Male Condoms Market Growth:
Sexually transmitted infections (STIs) have a major impact on sexual and reproductive health worldwide. As per the World Health Organization (WHO), more than 1 million people acquire STIs every day globally. Each year, ~376 million new infections with chlamydia, gonorrhea, syphilis, and trichomoniasis are reported. Contraceptive methods alter the risk of acquiring STIs. Condoms provide a certain level of protection from bacterial and viral infections.
The most common STI in the US is the human papillomavirus or HPV. As per an article published by National Center for Biotechnology Information (NCBI), 80% of sexually active people are infected, including 42% of people in the 18–59 age group; 7% of people have oral HPV; and approximately 14 million new cases are reported yearly. It is so common that the Centers for Disease Control (CDC) estimates that virtually all sexually active persons who are not vaccinated will eventually become infected. HPV is often asymptomatic, especially in men, but it may cause venereal and anogenital warts. The CDC has determined that ~2.4 million non-HPV-related STIs were reported in the US in 2020. Chlamydia was the most common of these at 1.6 million cases. Moreover, 677,769 cases of gonorrhea were reported in 2020, up 45% from 2016, and 133,945 cases of primary and secondary syphilis, up 52% over the same period. In general, the overall rate of STIs is increasing in the US, with 2.5 million STD cases or more expected to occur in 2022.
Thus, rising cases of STIs and growing awareness about STDs through government initiatives is driving the male condoms market.
Impact of COVID-19 Pandemic on Global Male Condoms Market Growth:
During the COVID-19 pandemic, the imposition of containment measures drastically impacted the supply chains. COVID-19 had a substantial impact on market expansion. The sales of male condoms dropped significantly because of the severe lockdown restrictions, which also halted contraceptive device sales. According to the Condom Alliance 2020, condom sales in India decreased by 48% during the lockdown period in 2020, with a full-year decline of 35% for FY2021. As a result, the COVID-19 pandemic had a considerable commercial influence. However, the easing of the lockdown constraints in 2021 restored the contraceptive device’s usual supply chain functioning. This is projected to help the industry grow during the forecast period. Therefore, the COVID-19 pandemic negatively impacted the growth of the male condoms market.
Companies operating in the market constantly focus on strategic developments such as collaboration, agreements, partnerships, and new product launches. These strategies help the companies increase sales and drive the overall male condoms market. The emergence of new product launches with product advancements is expected to attract the male population. Furthermore, the increasing cooperation of market participants with pharmaceutical companies for developing and launching products is expected to boost the male condoms market growth in the near future. Some of the developments in the male condoms market are as follows:
In March 2023, Durex launched Durex Real Feel, a non-latex range of condoms. Real Feel is made of polyisoprene material which is softer than latex rubber. With this launch, the brand aims to intensify and enhance sexual encounters between couples by offering a natural “skin” like feeling while being protected.
In September 2022, Mankind Pharma’s brand Epic Condoms announced a premium range of condoms in the market. Epic Condoms have been launched pan-India. The product is vegan, cruelty-free, thin, and has a disposable pouch.
In April 2022, Durex launched a new condom called “Intense.” The product uses an exclusive stimulant gel, Desirex Gel, to enhance women’s experience by acting as a cooling agent and enhancing stimulation.
Therefore, the surge in strategic developments and product launches is expected to increase the demand for male condoms, boosting the male condoms market growth in the coming years.
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Global Male Condoms Market: Segmental Overview
Based on material, the market is bifurcated into latex and non-latex. In 2022, the latex segment accounted for a larger male condoms market share. However, the non-latex segment is anticipated to register a higher CAGR during the forecast period. A significant number of condom users preferring latex is driving the market for the latex segment. Based on product type, the male condoms market is divided into flavored condom, studded, warming, pleasured, and others. The flavored condom segment held the largest share of the market in 2022 and is expected to grow at the highest CAGR during the forecast period. Based on distribution channel, the male condoms market is segmented into drug stores/pharmacies, supermarkets/ hypermarkets, online pharmacies, and others. The drug stores/pharmacies segment held the largest share of the market in 2022 and is anticipated to register the highest CAGR from 2022 to 2028.
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