The global polyurethane condom market was valued around $60 million in 2015 and is expected to surpass $81 million by 2020, says Technavio.
Technavio has announced its latest market research report on polyurethane condom for the forecast period, 2016-2020. This market analysis, under the health and wellness vertical, discusses the major drivers and key emerging trends that will influence the growth of the global polyurethane condom market during the forecast period. Some of the top vendors listed in this industry analysis include Church & Dwight, Ansell, Reckitt Benckiser, and Sagami Rubber Industries.
Among various geographies, the Americas will be the fastest-growing region in the global market and is expected to contribute revenues of around $42 million by 2020. This growth is mainly due to the higher penetration of polyurethane condoms in the region and the presence of several manufacturers and manufacturing facilities.
“The advent of e-commerce allows customers to choose from an array of products offered by vendors through their online portals. Polyurethane condoms are highly prevalent through the online channels, which contribute to around 57% of the total revenue generation in the market. These products are easier to find through online channels in comparison to retail outlets and give consumers a better shopping experience,” says Amber Chourasia, a senior analyst at Technavio for research on health and wellness.
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This new industry research report from Technavio analyzes some of the key drivers and trends responsible for the growth of this market and its sub-segments.
Rising awareness of polyurethane condoms
The growing awareness towards safe sex practices have led individuals to shift their focus towards sexual wellness products. The shift in attitude can be seen with the entry of new vendors in the market and the success of the business, even in times when the global economy is undergoing a slowdown. Polyurethane condoms are stronger, have a longer shelf life, are not much sensitive to temperature and ultraviolet light, can be used with oil-based lubricants and are not allergenic like latex. Moreover, polyurethane is odorless and transparent, which is preferred by most consumers, leading to an increase in the quantity of people using it more frequently. Change in societal pressures and morality issues has changed the consumers approach toward sexual experiences, resulting in the increased sales of these products. The increased awareness and changing consumer perception have significantly augmented the adoption of polyurethane condoms among different age groups, thereby leading to their higher demand.
Change in consumer perspectives
Consumers are becoming more sexually empowered with increased awareness and a supportive environment. With over 55% of Americans being open-minded about premarital sex, the society is evolving to a state where the use of sexual wellness products is becoming increasingly popular and socially acceptable. The liberal-minded younger generation and their openness towards experimentation has led to a rise in the awareness of sexual wellness products. The current generation is seeking ways to enhance their sexual experience and one of the most cost-effective alternatives is the use of polyurethane condoms. The emergence of polyurethane condoms in the market has propelled the consumer’s curiosity and will encourage the general masses to look toward condoms as a pleasure enhancement product, leading to a positive impact on the market in terms of revenue generation and awareness.
Growing cases of STDs
An upsurge in the number of people affected by STDs is driving the demand for condoms across the globe. Currently, there are approximately 80 million Americans affected by different types of STD such as human papillomavirus (HPV) and human immunodeficiency virus (HIV). Common STDs such as Chlamydia, syphilis and gonorrhea have been on a rise in the recent years globally, owing to casual sexual relationships and limited funding for public health clinics. Overall, each year nearly 20 million young Americans are affected by such diseases and approximately 50% new cases occur among those aged under 25 years. According to the Atlanta-based Centers for Disease Control and Prevention, HPV is the most common STI in the US. Such growing cases of STDs are creating greater demand for popular contraceptive methods such as polyurethane condoms.
Some of the other prominent vendors identified in this report are Shandong Geamay Latex Technology, Billy Boy, B Holding group, Sir Richard, Shandong Diligent Group, and Okamoto Industries.
This research report includes an in-depth analysis, market shares, and sizes of the sub-segments and geography. It provides a comprehensive analysis of the key companies, including their market shares, business overview, and key financials. The market study also offers a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Polyurethane Condom Market 2016-2020‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Condom Market in the US 2016-2020
- Global Water-based Personal Lubricant Market 2016-2020
- Sexual Wellness Market in the US 2016-2020
- Global Condom Market 2015-2019
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