By Arizton Advisory & Intelligence
The global condom market is expected to reach over $12 billion by 2024, according to Arizton’s recent research report, growing at a CAGR of over 9% during 2018−2024.
Key Highlights Offered in the Report:
* The global condom market is likely to realize an absolute growth of 121% – a phenomenon leap of over $7 billion revenue between 2014 and 2024.
* Buoyed by the demand from institutional buyers (USAID, UNFPA, NGOs, and private agencies), the overall shipment of institutional condoms is expected to reach over 39 billion units by 2024, witnessing an absolute growth of 65% between 2018 and 2024.
* The female condoms market is expected to register a high CAGR of about 21% during the forecast period. The market remains highly concentrated in Africa with the institutional demand accounting for almost 95% of the overall unit consumption in 2018.
* Spurred by innovations such as flavors and designs, the demand for branded condoms in the commercial market is likely to register a CAGR of over 11% globally during the period 2018-2024.
* The increasing visibility of condoms in mass-market retail chains such as Walmart, Tesco, Sainsbury’s; drug retailers such as Rite Aid, Walgreens, and Boots; and e-commerce websites such as Amazon and eBay has aided in market growth. Further, growing advertising and promotional activities on social media platforms are likely to boost the demand for condoms further world over.
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Posted on September 9, 2019