LONDON--(BUSINESS WIRE)--The global polyurethane condom market is expected grow at a CAGR of close to 6% during the period 2016-2020, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global polyurethane condom market for 2016-2020. To calculate the market size, the report considers the revenue generated through retail sales from retail outlets and online stores.
“E-commerce has revolutionized the purchasing pattern of consumers through attractive websites, rich content, and search engine optimization based marketing. Buying behavior of consumers is largely impacted by online websites as they increase awareness, influence purchase decisions, offer promotional schemes and ensure customer engagement, by tracking consumer behavior,” says Amber Chourasia, a lead health and wellness research expert from Technavio.
Technavio’s research analysts segment the global polyurethane condom market into the following regions:
- Americas
- APAC
- EMEA
In 2015, with a market share of over 53%, the Americas dominated the global polyurethane condom market, followed by APAC with over 24% and EMEA with over 22%.
Americas: US emerges as the biggest market for polyurethane condoms
The penetration of polyurethane condoms is high in the Americas because of the high awareness rate and high incomes of individuals. The US is the biggest market for polyurethane condoms in this region contributing close to 39% of the revenue generated in the market.
The polyurethane condoms market in the Americas is driven by factors such as the rising acceptance of such products for sexual pleasure enhancement, and increasing awareness among the general population. The presence of large manufacturers in the Americas also makes the supply chain more efficient. Online stores are playing an important role in accelerating the demand and sales of polyurethane condoms. The growth of the e-commerce industry has had a positive impact on the market as it has allowed manufacturers to easily distribute and market their products in several new markets, while minimizing their operating costs.
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APAC: large population and increasing disposable incomes to fuel market
The market in APAC is poised to be the fastest growing segment owing to the high internet penetration and the growing population. There is an increase in the openness and broadmindedness among the consumers which has driven the need for excitement and adventure and a keen desire for experimenting. This is stimulating the demand for the market growth across APAC.
A large population, with increasing disposable incomes, coupled with the exposure that these products are getting through the media in recent years, has convinced people in APAC to spend on polyurethane condoms to enhance their sexual desires and practice safe sex. These factors are positively contributing towards the growth of the market.
EMEA: increased awareness to fuel market growth in Western Europe
The Polyurethane condom market in EMEA is driven by the fact that the people are becoming aware of the role of condoms in preventing sexually transmitted diseases (STDs) and sexually transmitted infections (STIs) and unplanned pregnancies. People are also looking toward Polyurethane condoms as an essential tool for enhanced sexual performance.
The online market ensures anonymity while purchasing polyurethane condoms which has given confidence to the consumers to buy such products. The market has been propelled by the consumer's curiosity in ways to improve their sex life. The polyurethane condoms also cater to a large segment of users who are allergic to latex.
“The product is more widespread in western Europe, whereas there is a negative mind-set toward the usage of these products in many Middle Eastern countries. This is due to several religious beliefs, social norms, and an illegal supply, all of which are factors that are hampering the growth prospects of the market in EMEA,” says Amber.
The top vendors in the global polyurethane condom market highlighted in the report are:
- Church and Dwight
- Ansell
- Reckitt Benckiser
- Sagami Rubber Industries
Browse Related Reports:
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- Sexual Wellness Market in the US 2016-2020
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