How Big Is World’s Condom Industry?
Condom industry is one of the most booming sectors in the world. The global condom market is all set for a greater boost as it is projected to reach 30.06 billion US dollars by 2034, from 13.13 billion in 2024. The market has been growing by around 9 % annually, forecasting substantial business possibilities in the industry.
Mainly triggered by the rising awareness of Sexually Transmitted Diseases (STDs) and increasing governmental interventions, including campaigns for family planning, the condom has become one of the most daily sought-after products across the world.
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Coming to India, a significant portion of the condoms are are still being imported. For several reasons, including increased manufacturing costs, cheap imports and quality concerns, the production of condoms in India is not that booming. Despite being the highest populated country in the world, the market size of condoms in India is surprisingly small, according to reports.
The lack of the use of condoms for reproductive and sexual well-being among Indians is also reflected in the fact that the country is ranked as the nation with the third-highest HIV cases by the United Nations. The current condom market size in India is estimated at USD 861.3 million, which is projected to grow at a CAGR of 11.0% from 2024 to 2030. Despite the growth projection, India continues to be relatively smaller compared to global markets for condoms.
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Despite having a large population within the reproductive age bracket, especially the youth population, several factors, including price ceiling, quality and innovation, affect India’s condom industry. With the government’s intervention, including the subsidized condoms and large-scale awareness campaigns for behavioral change, a demand for quality condoms at a reasonable price is being forecasted, especially for low-income users. The awareness, government activities, increased condom usage and E-commerce and online platforms have also accelerated the business.
Hindustan Latex Limited (HLL Lifecare), established in 1966, is India’s first plant in Peroorkada, Thiruvananthapuram, Kerala. The company continue to be one of the leading producers of condoms in India. The company now produces and tests around 50 lakh condoms a day, according to its management. Over 500 crore condoms have been produced by the company.
Though less than 10 percent of adult males use condoms in India, the market is expected to grow in the future. As per Durex Global Sex Survey 2024, Indian has seen a 37 percent increase in condom use during first sexual encounters since 2006. The survey noted that 55 percent of respondents reporting using condoms during their first sexual experiences, a 34 percent increase since 2006.
The survey also noted that the condoms remain the most popular contraceptive method, especially among first-time users.
