Sexual Wellness Market Research Report: by Product (Sex Toys, Condom, Contraceptive, Sexual Enhancement Supplements, Lubricants, Ointments), by Distribution Channels (Drug Stores, Specialty Stores, Supermarkets, Online Platforms) – Global Forecast Till 2023
Sexual Wellness Market Scenario
The global sexual wellness market is expected to grow at a CAGR of 9.2% over the forecast period from 2018 to 2023, according to the latest market intelligence report from Market Research Future (MRFR). The report predicts the global sexual wellness market, valued at USD 21.26 billion in 2017, to exhibit steady growth over the forecast period on the back of the growing awareness about the threat of sexually transmitted diseases as well as about the increasingly easy availability of a wide variety of sexual wellness products.
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The growing threat of sexually transmitted diseases, including HIV-AIDS, has been a major driver for the global sexual wellness market over the historical review period, as it has driven the demand for condoms and other contraceptives in developed as well as developing regions. Rising awareness about the effectiveness of contraceptives in blocking the transmission of sexually transmitted diseases is likely to remain a major driver for the global sexual wellness market over the forecast period. Growing government efforts in some parts of the world to increase the usage of contraceptives, especially among younger demographics, are likely to drive the sexual wellness market over the forecast period.
The growing awareness about sexual wellness products, as well as the increasing ease of purchasing sexual wellness products on online stores, has also been a major driver for the global sexual wellness market. The growing openness about sexual activities in developed countries and lifting of the social taboo against it is responsible for the steady growth of the sexual wellness market and is likely to remain the prime driver for the global market over the forecast period. The increasing disposable income and awareness of consumers in emerging regions of the world is also likely to be a major driver for the global sexual wellness market over the forecast period, as sexual wellness products are a relative novelty in the developing world and are becoming increasingly popular among the urban demographic. Increasing interest in sexual wellness products among the female demographic in Asia Pacific countries such as India, China, Japan, South Korea, Thailand, Indonesia, and Malaysia is likely to a major driver for the global sexual wellness market over the forecast period.
Sexual Wellness Market Competitive Analysis:
Leading players in the global sexual wellness market include
- Church & Dwight Co. Inc.
- Reckitt Benckiser Group plc
- Karex Berhad
- Mankind Pharma
- BioFilm IP LLC
- Veru Inc.
- LifeStyles Healthcare
- Ansell Ltd.
- Doc Johnson
Sexual Wellness Industry Updates:
In February 2019, Callitas Health Inc. signed a product development and manufacturing agreement with LifeStyles Healthcare.
Sexual Wellness Market Segmentation:
The global sexual wellness market is segmented on the basis of product, distribution channel, and region.
By product, the global sexual wellness market is segmented into sex toys, sexual enhancement supplements, ointments, lubricants, condoms and other contraceptives, and others. The sex toys segment accounted for the largest share in the global sexual wellness market in 2017 and is likely to remain the leading contributor over the forecast period due to the growing popularity of a wide range of sex toys in emerging regions.
By distribution channel, the global sexual wellness market is segmented into retail and online. The retail store, further sub-segmented into drug stores, specialty stores, and others, is likely to retain the majority share in the global sexual wellness market over the forecast period.
Sexual Wellness Market Regional Analysis:
The global sexual wellness market is segmented by region into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas dominates the global sexual wellness market due to the widespread market penetration and growing interest among young as well as older urban buyers. The increasing awareness about sexually transmitted diseases and increasing sexual activity in teenagers in North America are likely to remain the major drivers for the sexual wellness market in the Americas over the forecast period. Europe is also likely to hold a major share in the global sexual wellness market over the forecast period due to the widespread popularity of various sexual wellness products.
Asia Pacific has the potential to account for a major share in the global sexual wellness market by the end of the forecast period and beyond, though the region trailed North America and Europe in 2017. The increasing awareness about sexual wellness products among Asia Pacific consumers has led to growing demand from the sexual wellness market in the region. The increasing disposable income of consumers in Asia Pacific is likely to further drive the sexual wellness market’s prospects in the region over the forecast period.
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