A condom is a sheath-shaped obstruction device used during sexual intercourse. It is very beneficial for reducing the chances of pregnancy. It also decreases the risk of sexually transmitted infections (STIs) such as HIV/AIDS. There are different types of condoms available in the market with the variety of thickness, texture, material, size, color and taste. Condoms are highly effective to reduce the probability of pregnancy if used consistently and correctly.
The use of condoms, conceived primarily as a tool for family planning to curtail population growth, has attained a primacy in arresting the spreading of the dreaded disease, AIDS.
Increasing awareness regarding sexually transmitted diseases (STD) and HIV is the major driving factor of condom market in U.S. Increasing prevalence of sexually transmitted diseases (STD) and HIV in U.S. is expected to boost the demand for condoms. In addition, increasing the need for family planning coupled with population control is expected to boost the condom market.
India condom market is projected to reach $180 million by 2022 on account of rising consumer awareness about HIV/STIs. Moreover, expanding product portfolio of the leading players, growing e-commerce penetration, rising youth population and increasing trend in average marriable age are expected to act as the other major drivers for India condom market in the coming years.
The Indian market has terrific potential. Only 21 percent of the country's 138.9 million eligible couples use condoms at present. If the figure were to rise to 50 per cent, demand would spurt to 5,000 million pieces a year. As domestic demand and export potential grow, other companies are also getting into the act.
· Rise in use of condoms for family planning propels the market growth.
· Innovations in male condoms such as anti-ejaculation chemicals increases consumer interest.
· Increase in promotional campaigns on the concept of safe sex, further helping the market to grow.
The global condom market is expected to cross $11 billion by 2023. Factors such as an increase in per capita discretionary income of people globally and a rapid growing number of dual-income households in developing as well as developed markets are major growth factors for the global condom market. Male contraceptives will remain the dominant segment despite growing popularity of female condom. Further more comprehensive sex education for the most active demographic segment such as the teenagers is a major driver for the condom market growth.
The global market for condoms is on a steady growth trend, backed by increasing emphasis on preventing unwanted pregnancy and sexually transmitted diseases; growing popularity of female condoms; and continuous product innovations by leading manufacturers. Other growth drivers include growing preference for condoms as preferred choice of contraception given the potential health hazards of using contraceptive pills; use of condoms by gays; increased and enhanced commercial advertising stressing upon social acceptance; expanding distribution channels; increasing public health campaigns promoting the concept of safe sex and eye-catching and unique packaging by manufacturers. Initiatives taken up by government are also playing a role in propelling market growth.
Condom marketing is moving towards emphasis on improving sexual pleasure. Manufacturers in this regard are constantly innovating new products such as super-thin, biodegradable, and custom-fit condoms. Other innovations include glowing as well as sports-themed condoms, female condoms fitted with Bluetooth outer ring, and male condoms with anti-ejaculation chemicals. One of the major objectives behind all these recent product innovations is to significantly enhance the overall pleasure, and position condom as a product that improves sex.
Another notable trend in the condoms market is the growing popularity of female condoms. Female condoms are being viewed as a way of providing females with more control over their own sexual safety, and helps in preventing unwanted pregnancy as well as spread of STDs.
Condoms, developing countries are expected to drive future growth given the relatively strong economic activity, and higher proportion of younger demographics. Limited condom users and lack of awareness offer untapped opportunities for growth. Condom use specifically in countries like India and China is growing continuously, on account of increasing population, strong economy, and heightened public awareness that condom provides protection against STIs. Asia-Pacific represents the largest as well as the fastest growing market worldwide.
Few Indian Major Players are as under:
· Cupid Ltd.
· Famy Care Ltd.
· HLL Lifecare Ltd.
· Medtech Products Ltd.
· TTK Biomed Ltd.
· TTK Healthcare Ltd
· TTK Protective Devices Ltd.
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