Will India soon become the largest market for condoms? Manufacturers think birth control is on the path to future success. This also has to do with changing sexual morals in the country.
For many men in India, condoms are not yet available as a method of birth control. However, manufacturers believe that the most populous country will become the largest growing market in the future. “The Indian market is very attractive. The condom usage rate there is still low,” says Kazuhiro Kamio, foreign sales manager of Japanese manufacturer Okamoto Industries.
Manufacturers are using modern marketing tools to reach India’s large, young and tech-savvy population in both urban and rural areas. According to data from consulting firm GrandView Research, the market is expected to more than double to $1.7 billion by 2030.
- Sexually transmitted diseases are on the rise: what helps?
- Graphics: The number of sexually transmitted diseases is increasing so rapidly that
- Paris reform in France: Macron will soon offer free condoms to young people
Primetime condom ads banned so far
Strong economic growth, social media use and changing attitudes towards sex are changing how producers view the country, where conversations about love lives are largely taboo, condom ads are banned on prime-time television and rural residents are wary of pitting contraceptives against each other. .
“We believe that India offers a lot of opportunities with such a large and very young population,” says Goh Miah Kiat, CEO of Karex, the world’s largest condom manufacturer. The market leader in India so far has been domestic supplier Mankind Pharma.
The market leader relies on a new approach: Stock market price increased
Mankind Pharma, India’s previous market leader, went public in May and its shares have soared since then, gaining nearly a third in value. The company is now worth more than eight billion dollars.
The company expanded its online presence to better target urban populations and invested in advertising in local languages to reach more rural consumers. Mankind Pharma also relies on influencers and social media.
Expert: India could become the world’s largest market
A 2020 government survey showed that only five per cent of sexually active men in India regularly use condoms as a method of birth control, and another two per cent are completely unaware of condoms. By contrast, 19 percent of men in the United States use condoms every time they have sex, according to data from the National Center for Health Statistics.
In addition to the population base, this is due to the “demographic relevance” of condoms in India. As a result of companies targeting target groups, sales of premium condoms have increased 21 percent annually over the past five years, data from HDFC Securities Institutional Equities shows.
India’s changing sexual morality
Experts also see the reasons for the increased need for condoms in cultural change. Pranita Bhor of Grand View Research says more and more Indians are “losing faith in the institution of marriage and do not want to get married before at least their mid-30s.”
I am Ben Stock, a highly experienced professional with over 7 years of experience in the news industry. I specialize in market section writing and have published numerous high-quality articles on various topics under my name. My passion for journalism has helped me to develop an in-depth understanding of the industry, enabling me to stay up-to-date on all the latest trends and developments.