3B Products Market

For decades, condoms have served as one of the most effective contraceptive methods on the market. The need for continued and more comprehensive safety measures within the condom industry is growing, as the rate of unplanned pregnancies and contraction of STI’s increases. There are currently 28 billion condoms sold in the global market with a projected value of $9.6 billion. The global condom market is expected to cross $11 billion by 2023. The global market for condoms is growing at a compound annual growth rate of approximately 8%. The chart below lists the six largest manufacturers, distributors and retailers in the condom market and their approximate global market share.

Although Durex has become a generic term for condoms in much of Europe, the brand has only a 15% share of the U.S. market. U.S.-based Church & Dwight’s Trojan brand dominates with 69% of sales. Other recognized manufacturers include BILLY BOY, Convex Latex, Cupid Limited, Fuji Latex, HBM Group, HLL Lifecare Ltd., Innova Quality, IXu, Karex Berhad, LELO, MTLC Latex, Sagami Rubber Industries, Shandong Ming Yuan Latex Co., Shanghai Dahua Medical Apparatus Co., Silk Parasol, StaySafe Condoms, STRATA Various Product Design, Thai Nippon Rubber Industry (TNR), Tianjin Condombao, and VERU (The Female Health Company). The condom market is expected to experience steady growth in the upcoming years, due to population growth and an increased usage of condoms.

3BP has determined that the condom industry has significant business potential, both in the United States and in developing countries. The use of condoms in countries such as India and China is steadily growing, based on stronger economies, heightened public awareness regarding the effectiveness of condoms providing protection from sexually transmitted diseases, and population growth. Between six and nine billion male condom units and twelve million female condom units are purchased annually in India and China alone. Though the prevention of pregnancy remains an important function of condoms, the driving force for growth is the prevention of STIs, in particular HIV/AIDS. Given the rapid spread of HIV in China, India, and Sub-Saharan Africa, and the large sizes of their respective populations, it is expected that annual public-sector demand for condoms, both male and female, will continue to grow at robust rates. Increased use of condoms in African countries, the highest affected from HIV infections, due to the growing disease prevention programs organized by non-governmental associations, is expected to be a significant driver of market growth.