LONDON--(BUSINESS WIRE)--The global female condom market is expected to grow at a CAGR of just above 9% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global female condom market for 2017-2021. By distribution channel, the market is segmented into retail outlets and online stores.
The rise in importance of family planning is one of the key driving factors for the global female condom market. The efforts of social media and the governments to raise awareness about family planning and its benefits has become successful, leading to increased adoption of female condoms.
Technavio’s research study segments the global female condom market into the following regions:
- Americas
- EMEA
- APAC
Americas: largest female condom market segment
“The high levels of awareness among the consumers in the region is supported by the high disposable incomes, putting the Americas at the top of the global female condom market. Additionally, majority of the leading vendors are based in the region and provide the consumers with a variety of offerings, leading to high rates of adoption,” says Amber Chourasia, one of the lead analysts at Technavio for health and wellness research.
Vendors are penetrating the South American market, particularly in Brazil, because of the high demand for female contraceptive devices, which is driven by an increase in family planning initiatives and rise in unplanned pregnancies. Additionally, government officials in countries such as the US give away women condoms at convenience stores, beauty salons, and community clinics to curb the rising HIV rates in the area. Such initiatives are driving market growth in the region.
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EMEA: straightforward marketing and packaging driving growth of market segment
France, Germany, Spain, and Hungary are some of the widest adopters of female condoms, where an estimated 80% of the women utilize these products. Additionally, manufacturers are increasingly expanding their presence in other regions of Europe by undertaking straightforward and informative product packaging and marketing. Improved ease of purchase, combined with increasing awareness, will drive the growth of the female condoms market in the region.
APAC: fastest growing female condom market segment
“APAC is the fastest growing segment of the female condom market, showcasing a CAGR of 9.37% through 2021. This impressive growth will be driven by high awareness and greater affordability of the products in countries such as India and China,” says Amber.
Many women in developing countries in APAC opt to delay pregnancy in order to focus on their careers. The increase in the purchasing power of women, with more women joining the workforce to meet routine family expenditures, will drive the demand for female condoms. Also, supportive government initiatives are helping clear misconceptions and myths, which is encouraging more individuals to adopt the product.
The top vendors in the global female condom market highlighted in the report are:
- The Female Health Company
- Cupid
- Shanghai Dahua Medical Apparatus
- Tianjin CondomBao
Browse Related Reports:
- Global Condom Market 2016-2020
- Condom Market in the US 2016-2020
- Global Sexual Wellness Market 2016-2020
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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