The China condom market is highly consolidated in nature with top three leading companies accounting for 70% of the market in 2015. Transparency Market Research (TMR), in its new report, briefs readers about the key companies operating in the China condom market. While the top three companies are Church and Dwight Co., Reckitt Benckiser Group plc., and Ansell Ltd., there are many other companies consistently contributing towards the growth of the China condom market. To maintain their dominance, key companies operating in the China condom market are concentrating on introducing new innovative products in the market. The development of new designs and innovative products will be the key strategy for most of the leading manufacturers of condoms.
For instance, Reckitt Benckiser Group plc., in 2015, focused on innovative product development. New ways of marketing and advertising helped this key company to compete with the counterfeit products. With this, the company was able to acquire 45.6% of the China condom market in 2015. The China condom market is expected to reach US$5.04 bn by 2024. By material, the China condom market was dominated by the latex condom segment in 2015. The rising consumer preference towards latex condoms will help this material segment to maintain its dominance throughout the forecast period. Reasonable price of latex condoms and their high level of protection are two of the factor responsible for the growth of this segment. Considering the growing demand, key companies are focusing on manufacturing new varieties of latex condoms.
Warming Condom Continues to Attract Consumers
Since the recent past, manufacturers have been focusing on introducing product varieties including warming condoms, dotted condoms, flavored condoms, and studded condoms. Among all available types of condoms, the demand for warming condoms is expected to increase in most of the emerging nations. Going forward, warming condoms are expected to capture a significant share of the China condom market, thus will maintain its dominance.
Rising Awareness about Sexually Transmitted Diseases to Boost Demand for Condom in China
The number of sexually transmitted diseases is increasing in China. Over the past few years, condoms have received tremendous acceptance as the China government is actively promoting family planning programs. People have become aware of the many side effects of sexually transmitted diseases, which is a vital reason for the growth of the demand for condoms. Some other factors contributing towards the development of the China condom market are the changing lifestyles of the people, the growing importance of safe sex, and the rising awareness about safe ways to prevent contraception.
End of One Child Policy to Hamper Sales of Condom in China
In 2015, the China government announced the end of one child policy. This has been one of the reasons for the declining sale of condoms in China. For instance, Female Health registered a 19% decline in the sale of their condoms whereas Okamoto industries registered a decline of 24%. The rising use of sex toys has also affected the China condom market in many ways.
Product Innovation to be Biggest Contributor
Key companies operating in the China condom market are focusing on the changing needs of the people. “The introduction of new condoms will contribute significantly towards the market growth,” says TMR analysts. Product innovations in male condoms and female condoms are expected to benefit the leading manufacturers in many ways.
This information is based on the findings of a report published by Transparency Market Research titled “Condom Market - China Industry Analysis, Size, Share, Growth, Trends and Forecast 2016-2024.”
The China condom market is segmented as follows:
China Condom Market, by Material
China Condom Market, by End Use
China Condom Market, by Product Type
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