The rising prevalence of sexually transmitting disease such as AIDS/HIV and Chlamydia and the growing government initiative to endorse condom to help in preventing transmission of these disease, these are some of the factor influencing growth of this market in near future. Earlier, government is endorsing the usage of condom as a hygiene practice due to this the growth of this market was stagnant. But, the increase in active participation by the government about the safe practice of sex likely to boost the demand for condom in China.
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The condom market in China is likely to expand at a robust 12% CAGR during the course of forecast period from 2016 to 2024. The condom market in China is expected to gain a valuation of US$5.04 bn by 2024, in 2015 the condom market in china was valued at US$1.84 bn.
Latex-based Condoms Likely to attract Promising Growth
The China condom market can be bifurcated into end use, material, product type and region. On account of material type, the increase in demand for latex-based condoms is likely to grow based on high shielding capacity of latex based which likely to offer better contraception. Additional, the production of latex based condom is more easily compared to other polyurethane or leather condom.
Based on product type, flavor condom has gained significant growth among other product in this segment. This trend is likely to influence the demand for flavor condom in near future.
Based on end use, the market for condom in china is divided into female condom and male condom. Increase in usage of homosexual condom and rise in sexual activity demography can be one of the major factor driving the demand for female condom market. Also, rise in demand for variety of condom is likely to propel growth of the female condom market.
With respect to product type, the condom market in China is bifurcated into edible condoms, flavored condoms, colored condoms, studded condoms, others
Government Regulation of Policy Likely to Affect Market Growth for Condom
The Chinese government initiative of one child policy came to end, this factor may be the key concern among the prominent players for the growth of the condom market in the region. The several regional of China likely to witness downfall owing to end of the stringent policy for one child. This can be one of the important factor negatively impacting growth of the overall market and it may have negative impact on the players operating in the condom market in China.
The key players operating in this market likely to adopt the new strategies in order to strengthen their growth and maintain the presence across the Chinese region. However, the consistent effort made by the Chinese government for stringent regulation for reducing the toll of sexual transmitted disease likely to register significant growth in the condom market in China.
This research study also includes some of the leading players operating in the condom market in China such as Ansell Ltd.,The Female Health Company Ltd., Karex Industries Sdn Bhd and HLL Life Care Ltd.