Condom market to expand by $3.70 bn globally by 2025 at a CAGR of 8%: Report

According to a recent study, it has been estimated that the global market size for condoms is expected to grow by USD 3.70 billion by the end of 2025, ANI reported, citing a report by global technology research and advisory firm Technavio. This comes at a time when initiatives are being taken to generate strong awareness among the masses about sexually transmitted diseases (STD). 

According to the report, the market is expected to progress at a compounded annual growth rate (CAGR) of 8% with most of the growth expected in the Asia Pacific region.

"44% of the market's growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the condom industry in APAC. Market growth in this region will be faster than the growth of the market in other regions," it said. 

Furthermore, the growing trend of customisation is also expected to have a positive impact on the market followed by which increase in awareness about sexually transmitted diseases (STD), and the availability of a wide range and brands of condoms will support more in the business segment. 

Factors responsible for driving the growth of the condom market 

Speaking about the factors boosting the growth in the market, the report notes that mass customisation and personalisation have been slowly gaining importance in the global condom market, which is primarily driven by advances in technology, with more additional features including shape, size, and colour.

“The rapid evolution of condom product material and designs with increasing market competition made it necessary for vendors to focus on strategies such as quick delivery processes, mass customisation, and personalization,” it added. 

Apart from that, an increase in the emphasis on condom providers offering their products in discreet packaging trend is maintaining the privacy quotient of the product thus making consumers feel more comfortable while shopping.

“Hence, the increasing focus on the customisation of condoms, as well as their packaging, according to consumer requirements is expected to support the market growth during the forecast period,” the statement added. It further added that the high growth of e-commerce platforms will also play a key role in driving the growth of the product. 

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