The 40% drop in sales has prompted the world’s leading condom manufacturing giant to focus on latex gloves to boost profits in Covid times
“The condom industry is in crisis” – This was announced by the managing director Goh Miah Kiat, in an interview published by Nikkei Asia, in which he recalls that the Malaysian giant produces 5.5 billion condoms every year and operates in 140 countries, occupying a slice of the global market of the 17 percent both with condoms marketed under their own brand name and with those produced for other brands. A latex empire that has been on the market for three generations, which from 2020 has to face the effects of the pandemic.
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The cause – According to the data held by the company, the decline in sales was caused, especially in developing countries, by the crisis in accommodation facilities. In short, the collapse of hot nights spent in motels or hotels would have dragged down the consumption of condoms. In the meantime, even governments would have stopped promoting campaigns against sexually transmitted diseases with the free distribution of condoms.
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The condom industry hopes for a gradual exit from Covid restrictions, which could lead to a recovery in the condom sector, also due to the slight recovery in sales recorded in the most advanced countries. A development that is not taken for granted – it must be said – to be taken with gloves!
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