According to a recently published industry analysis report by Persistence Market Research, the global Condoms Market had sales of US$10.2 billion in 2021. The anticipated market growth from 2022 to 2032 is anticipated to be larger than the increase in the past, coming in at 11%. The segment predicted to generate the most revenue between 2022 and 2032 is latex condoms, with a CAGR of almost 11.2%.
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According to market research and competitive intelligence provider Persistence Market Research’s analysis of the condoms market, from 2017 to 2021, the market value of the sector grew at a rate of about 10.6% CAGR, with the U.S., UK, China, Japan, and South Korea accounting for a sizeable portion of the global market.
One of the most popular methods of contraception that helps lower the risk of STDs is the use of condoms (STDs). As a result, two key elements boosting condom demand are contraception and STD protection. Although male-oriented products still predominate the market, female-oriented products are becoming more and more common. The reason for this is because more women are becoming aware of the negative side effects of other pill-based contraceptives that can impair women’s health.
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Market Segments : Condom Market Industry Analysis
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- Condoms Market – Material Type Outlook : Latex Condoms, Non-latex Condoms
- Condoms Market – Product Type Outlook : Male Condoms, Female Condoms
- Condoms Market – Distribution Channel Outlook : Mass Merchandisers, Drug Stores, E-commerce
- Condoms Market – Regional Outlook : North America, Europe, Asia Pacific, Latin America, MEA
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Competitive Analysis
The leading vendors in the global Condom Market are Reckitt Benckiser, Okamoto Industries, LifeStyles Healthcare, and Church & Dwight. Condom adoption has been steadily expanding among end-users around the world. As a result of the rising demand, several new vendors have entered the market. Intense competition among market competitors has resulted in the introduction of cutting-edge and creative solutions to the market. Vendors with a worldwide presence dominate the global contraception industry.
To obtain market share, many global players are likely to increase their presence globally during the projection period, particularly in fast-developing regions in APAC and Latin America. Furthermore, better global economic conditions will stimulate market expansion, making now an appealing moment to launch new products.
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