Sexual Wellness Market Overview
Global sexual wellness market is anticipated that the market held value of USD 21.26 billion in 2017 and sexual wellness market is projected to grow at a CAGR of 9.2% over the forecast period.
Sexual Wellness Market Dynamics
The market is predicted to rise due to reasons such as rising global prevalence of Sexually Transmitted Diseases (STDs), increased awareness of sexual health products, and the expansion of e-commerce businesses. The increasing popularity of sexual wellness items such as vibrators, contraceptives, and others, as well as the creation of awareness through digital ads, are boosting the market demand to new heights. The government’s initiative to prevent sexually transmitted illnesses is expected to improve the market’s growth pace. The recognition of the LGBT community and rights, as well as the legalisation of homosexual weddings, are driving the rise of the sexual wellness sector, as lubricants, delay sprays, and vibrators have become quite popular among the LGBT population. The legal rights allow for same-sex marriages and legalised same-sex relationships, which is likely to fuel the expansion of the sexual health sector.
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The rise of e-commerce and the ease with which products may be obtained has boosted the demand for sexual wellness products. Because they enable privacy and safeguard people’s confidentiality, online stores have acquired substantial popularity in the global sexual wellness business. Customers are receiving discounts and other special deals from online businesses, which is supporting the market’s growth rate. Furthermore, great discounts and door-to-door delivery have made online retailers popular among millennials. Furthermore, female contraceptives have grown in favour among women due to its numerous advantages, including the avoidance of sexually transmitted diseases and unplanned pregnancy. As a result, the expanding female segment contributes significantly to the growth of the sexual health market.
However, over the projected period, side effects from harmful components in products and product recalls may limit market growth. Furthermore, individuals in rural areas are less aware of these products, which is a big stumbling block to the market’s expansion. Furthermore, in most nations, government entities have enacted strict rules and restrictions that are slowing the market’s growth rate. Furthermore, due to shutdown constraints, the novel coronavirus has hampered the production process of sexual health goods. During the lockdown period, however, demand for the market grew. The demand for the market has been boosted in recent months as a result of various government relaxations aimed at maintaining consistent economic growth.
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Sexual Wellness Market Segmentation
Product, distribution channels, and region have all been segmented in the worldwide sexual wellness market.
The sexual wellness market is divided into sex toys, condoms and contraceptives, sexual enhancement supplements, lubricants, ointments, and other categories based on product. In 2017, the sex toys category is predicted to hold the highest proportion of the market. Sex toys can also be enjoyed alone oneself or with a companion. This is mostly credited with propelling the sex toys market, which in turn fuels the expansion of the sexual wellness sector.
The sexual wellness market is divided into retail and online platforms based on distribution channels. In 2017, the retail segment is predicted to hold the largest share of the market. Drug stores, specialty stores, and others are sub-segments of the retail segment. Proper product recommendations from specialty store sales personnel, as well as a specific product offering, are likely to help boost specialty shop sales, which would indirectly boost the sexual wellness market demand.
Sexual Wellness Market Region Overview
Geographically, the Americas are expected to dominate the global sexual wellness market due to a well-established player, rising prevalence of Sexually Transmitted Diseases (STDs), increased awareness of sexual health products, and a well-developed e-commerce industry. Improvisation and innovation in the sex toys and condoms markets are driving the growth of the sexual wellness market in North America.
In the worldwide sexual wellness market, Europe is predicted to maintain the second-largest share. Increased awareness of sexual wellness products is credited with driving market expansion in this region.
China, Japan, Republic of Korea, India, Australia, and the Rest of Asia-Pacific make up the Asia-Pacific region’s sexual wellness market. The Asia-Pacific area is predicted to grow at the fastest rate.
The Middle East & Africa has the least share of the sexual wellness market.
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Sexual Wellness Market Competitive Dynamics
The notable players of the market are LELO (Sweden), Doc Johnson (US), Church & Dwight Co., Inc. (US), Ansell Ltd. (Australia), Reckitt Benckiser Group plc (UK), LifeStyles Healthcare (Australia), Karex Berhad (Malaysia), Veru Inc. (US), Mankind Pharma (India), BioFilm IP LLC (US).
Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2. Scope Of The Study
2.2.1. Research Objective
Chapter 3. Research Methodology
3.2. Primary Research
3.3. Secondary Research
3.4. Market Distribution Channels Estimation
Chapter 4. Market Dynamics
Chapter 5. Market Factor Analysis
5.1. Porter’s Five Forces Analysis
5.1.1. Bargaining Power Of Suppliers
5.1.2. Bargaining Power Of Buyers
5.1.3. Threat Of New Entrants
5.1.4. Threat Of Substitutes
5.1.5. Intensity Of Rivalry
5.2. Value Chain Analysis
5.3. Investment Feasibility Analysis
5.4. Pricing Analysis
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