US Condom Market to Grow at 11% CAGR until 2023: TechSci Research
Increasing awareness regarding sexually transmitted diseases (STDs), government-run awareness programs, innovative technologies, and growing online platform to drive the United States condom market through 2023
According to TechSci Research Report, “United States Condom Market By Gender, By Packet Size, By Type, By Distribution Channel, Competition Forecast & Opportunities, 2013 – 2023”, condom market in the United States is forecast to grow at a CAGR of around 11% through 2023. Originally promoted as a contraceptive to prevent unwanted pregnancies, condoms are being extensively used to prevent Sexually Transmitted Diseases (STDs), especially HIV, the virus that causes acquired immune deficiency syndrome (AIDS), Gonorrhea and Syphilis. Though there is high awareness regarding the usage of condoms to have a safe and secure intercourse, continuously increasing cases of Sexually Transmitted Diseases are expected to increase demand for condoms in the US over the course of next five years. To address the rising and varying consumer demand, condom manufacturers are offering various product variants such as dotted, ribbed, flavored and extra thin condoms as well as condoms in pack sizes of 3, 6, 10 or 20 pieces.
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Northeast is anticipated to be the largest demand generating region for condoms in the United States during forecast period, as population residing in the region comparatively has higher intercourse frequency than the rest of the country. Moreover, companies are spending more on advertisement to create awareness in other regions regarding the usage of condom for protective sex. Demand for condoms among the male gender is expected to dominate the United States condom market in the coming years, due to higher availability of male condoms by well-established condom manufacturers.
Different NGOs have a tie-up with condom companies in the United States for distributing free condoms. The initiative is aimed at social welfare, as it helps in creating awareness about condoms. With installation of condom vending machines in the United States, condoms are easily available to the users. Marketing & advertisement activities play a major role in selling condom brands in the country. Brands like Trojan and Durex spend millions on their products’ advertisement. Sales of Trojan are high in the country, owing to the fact that the company spends a lot on its advertisements and consumer preference for products visible to them.
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“As condoms available in the market vary considerably in texture, flavor and shape, companies are varying their product portfolio on size and focusing on making custom sized and line extension condoms. There are various government run programs distributing condoms to the young population and creating awareness among them to promote the condom usage during sexual intercourse. All these factors, in addition to growing concerns related to health issues, are anticipated to boost the United States condom market over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States Condom Market By Gender, By Type, By Distribution Channel, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of the United States condom market and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities present in the United States condom market.
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