U.S. Condom Market is Anticipated to Increase to $1,563.95 Mn by 2020
Deerfield Beach, FL -- (SBWIRE) -- 07/14/2017 -- Zion Market Research has published a new report titled "Condom Market by Gender (Male and Female), Distribution Channel (Commercial Outlets, Non-commercial Outlets and Non-traditional Outlets) – U.S. Industry Perspective, Comprehensive Analysis, and Forecast, 2014 – 2020" According to the report, U.S. demand for condoms was valued at USD 1,275.98 million in 2014, and is expected to reach USD 1,563.95 million in 2020, growing at a CAGR of 3.5% between 2015 and 2020.
A condom is a sheath-shaped barrier device that used during sexual intercourse. It is a useful method of contraception. Condoms are used to prevent the spreading of sexually transmitted infections and diseases (STIs/STDs) such as HIV/AIDS. There is wide range of condoms available in market with variety of thickness, texture, material, size, color and taste. Condoms are highly effective to reduce the probability of pregnancy if used consistently and correctly.
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The major driving factor for condom market is increasing awareness regarding sexually transmitted diseases (STD) and HIV. It is necessary to take care of infection and diseases like HIV during any sexual activity where there is a risk of sharing bodily fluids. In addition, rising need for family planning and population control is expected to boost the condom market. U.S. has the highest rate of sexually transmitted infections worldwide and exceeding other regions by 50 to 100 times. Therefore, due to the increasing prevalence of STD in U.S., demand of condom is witnessing an unprecedented boom in recent times. However, lack of awareness and availability of other contraceptive methods is expected to hamper growth of condom industry during the estimated period. In the U.S., innovation in the condom category created an opportunity to modify product for the modern consumer. Some of the novel opportunities include innovative packaging, use of nitrile polymer for female condoms, line extensions and innovative labeling of condoms.
On the basis of gender, condom market can be segmented as male and female condoms. Male condom dominated the condom market and accounted for more than 98% share of the total market in terms of revenue in 2014 due to its advantages of being inexpensive, easy to use and few side effects. A male condom is a thin sheath usually made of latex (rubber) while female condom is a polyurethane sheath with a flexible ring. Both the condoms should not be used at the same time because they can get stuck together during intercourse.
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Commercial outlets, non-commercial outlets and non-traditional outlets are the distribution channel segments of condom market. Commercial outlets segment was the largest segment of U.S. condom market and accounted for 50% share of the entire market in 2014. Non-commercial outlet was the second largest distribution channel in 2014.
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Some of the key player for U.S. condom market includes TTK Group, Sagami Rubber Industries, Reckitt Benckiser Group, Ansell Healthcare LLC, Graphic Armor LLC, and Church & Dwight.
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