Global Luxury Condoms Market is Likely to Grow a CAGR of 8.35% during the Forecast Period

The latest market report published by Credence Research, Inc. “Global Luxury Condoms Market: Growth, Future Prospects, and Competitive Analysis, 2015 – 2027”. The Global Luxury Condoms Market generated revenue of around USD 405 million in 2020 and is anticipated to grow at a CAGR of over 8.35% during the forecast period from 2021 to 2027 to reach around USD 710 million in 2027. While, cumulative growth opportunity presented by the global Luxury Condoms is around USD 3,384 million during 2021 to 2027.

Global Luxury Condoms Market, 2020 – 2027 (USD Million)

Browse the full report at  Luxury Condoms Market: Global Industry Size, Share, Statistics and Forecast 2015 – 2027 (credenceresearch.com)

Luxury condoms are growing in demand from higher income group. The higher income people are looking at condoms as more than just a contraceptive product. In response to consumer’s demand condom manufacturers are focusing on to develop and offer innovative condoms which are technologically advanced, made of vegan or ecofriendly materials, and enhance pleasure than just acting as a contraceptive tool. For instance, MyONE launched a luxury more personalized condom which is available in over 50 sizes. While, Lelo launched a revolutionary condom with hexagonal design.

Female Luxury Condoms to Dominate

Female and male are tow different types of Luxury Condoms available in the market. Although male Luxury Condoms dominate the market with over 65% share in 2020, female Luxury Condoms are likely to grow at an attractive CAGR over the forecast period. This can be attributed to increased awareness among women regarding their needs and wants. Suffice it to say, condom companies are attempting to address this change of perception. Modern, luxury prophyalctics are more appealing to look at, as well as ethically-sourced, pleasure-oriented and individualized to fulfill requirements of women.

Supermarkets & Hypermarkets to Stay as a Major Point of Purchase

Luxury Condoms are distributed through distribution channels such as Supermarkets/Hypermarkets, Retail Stores, Pharmacy Stores and Others. Among al, supermarket & hypermarkets are still ruling the Luxury Condoms market sales. However, online distribution is gaining traction at quite a rapid pace. Online channels have ability to reach customers located at last mile and hence growing in popularity among end-users.

Paradigm Shift in Condom Manufacturers Strategies

Need of higher income groups were neglected by the Condom manufacturers till beginning of last decade. However, over the past few years, key players such as Hanx, Lelo, Unique, MyONE and Naked have shifted their focus from offer just contraceptive tools to offering a personalized product that fulfill requirements of higher income group male and female. To address their need, major players are developing condoms that are designed to personalized, luxurious and vegan condoms. Regular condoms may irritate genitals and hence Hanx launched ultra-thin lubricated and transparent condoms.

 

Market Segmentation

Global Luxury Condoms Market by Type, 2015 – 2027

  • Male
  • Female

Global Luxury Condoms Market by Distribution Channel, 2015 – 2027

  • Online
  • Supermarkets/Hypermarkets
  • Retail Stores
  • Pharmacy Stores
  • Others

Global Luxury Condoms Market by Company, 2015 – 2027

  • Hanx
  • Lelo
  • Unique
  • MyONE
  • Naked

Others