The Latin America, Middle East and Africa Condom Market would witness market growth of 10.5% CAGR during the forecast period (2021-2027). There are numerous initiatives that are being taken by several global and government healthcare bodies like WHO, UNFPA, UNAIDS, and CDC with an aim to spread awareness regarding safe sex using condoms.
As a result, sexually active couples are increasingly adopting & using this method of contraceptive. In October 2013, UNFPA joined hands with the Malawi government and introduced the first national HIV/AIDs prevention campaigns to aware youth about the benefits of adopting condoms. In addition to it, different kinds of gender bias and socio-cultural stigma prevailing in African countries are being addressed by national awareness campaigns, thereby boosting the use of the product in these countries.
The easy availability of different kinds of condoms around the world is boosting their adoption rate and simultaneously improving the sexual experience. Sexually active couples aged between 15 and 24 highly prefer exotic and premium products. Moreover, the growth of the market would be accelerated by the low cost of the product as compared to the other modes of contraception.
One of the major obstacles to the growth of the global condom market is the splitting or tearing of male or female-based products. When condom tears, it may result in unwanted pregnancy and hence, slow down the adoption & demand of condom products in the market. In addition to it, some males or females are allergic to latex, plastic or spermicides, or lubricant of condoms. This could be the major barrier to the growth of the global condom market. Moreover, the absence of awareness in the under-developed countries and lack of access to sexual wellness products in the rural areas would act as barriers to the growth of the condom market.
The Drug Stores market dominated the South Africa Condom Market by Distribution Channel in 2020, thereby, achieving a market value of $100.8 million by 2027. The Mass Merchandizers market is estimated to grow at a CAGR of 10.7% during (2021 - 2027). Additionally, The E-commerce market is expected to witness highest CAGR of 12.2% during (2021 - 2027).
Based on Material Type, the market is segmented into Latex and Non-Latex. Based on Distribution Channel, the market is segmented into Drug Stores, Mass Merchandizers and E-commerce. Based on Product, the market is segmented into Male Condoms and Female Condoms. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Condom Market is Predict to reach $17.1 Billion by 2027, at a CAGR of 9.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Karex Berhad, Reckitt Benckiser Group PLC, Church and Dwight Co., Inc., LELO AB, Lifestyles Healthcare Pte. Ltd., Veru, Inc., Mayer Laboratories, Inc., Okamoto Industries, Inc., Cupid Limited, and Fujilatex Co., Ltd.
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