Covis19 Impact on Sexual Wellness Market Expected to Reach $108,320.0 Million by 2027, with 4.6% CAGR
Sexual wellness is the physical, mental, and sexual well-being of a person, which can be achieved through the use of various products such as sex toys, contraceptives, lubricants, delay sprays, pregnancy testing kits, and vaginal sexual wellness products. In addition, the products that enhance pleasure of sexual experience, provide safety from sexually transmitted infections, and reduce the risk of unwanted pregnancy are considered as sexual wellness products.
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Rise in sexual interests of millennial and awareness regarding sexual wellness products are expected to boost the market growth during the forecast period. In addition, issues such as hectic & busy schedules, stress, frustration, medication, aging problems, and hormonal issues are likely to reduce sexual stamina of individuals; hence wellness products such as sex toys, delay sprays, and sex enhancement supplements gained have gained major popularity among young couples.
According to sexual wellness market analysis, the product market is segmented on the basis of product, end user, distribution channel, and region. By product, it is categorized into sex toys, male condoms, female contraceptives, lubricants & sprays, and others. By end user, it is divided into men, women, and LGBT community. By distribution channel, it is categorized into specialty stores, drug stores, hypermarkets & supermarkets, and online stores. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Russia, Italy, Spain, Rest Of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
On the basis of product, the female contraceptives segment was valued at $23,773.9 million in 2019, and is projected to reach $35,024.7 million by 2027, registering a CAGR of 4.8% from 2021 to 2027. This is majorly attributed to the growth in awareness regarding sexually transmitted infections (STIs), unwanted pregnancies, and increase in adoption of female contraceptive devices especially in developed countries such as the U.S., Japan, and Germany.
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On the basis of end user, the men segment was valued at $33,631.2 million in 2019, and is expected to reach $48,310.7 million by 2027, registering a CAGR of 4.5% from 2021 to 2027. In recent years, male masturbators, dick rings, and lubricants have gained significant popularity among men, owing to benefits associated such as painless sex, high sexual satisfaction, and double sexual stamina. In addition, growth in number of viewers for sex movies and pornography is likely to create sex fantasies among men, which further motivates them to use sex toys and condoms to enhance their sexual life, thus, all these attributes are surging the sexual wellness market demand.
On the basis of distribution channel, the online stores segment is estimated to reach $33,549.0 million by 2027, at a CAGR of 5.0%. This is majorly attributed to the growth in internet users to buy various sexual wellness product including sex toys, female contraceptives, and male condoms, which is anticipated to favor the growth of the product market through the online stores segment. Furthermore, online stores offer privacy to shoppers, discounts, and a number of options, online stores which boosts the growth of the online stores segment. Rise in number of internet users from emerging countries such as China and India is expected to increase the number of online store shoppers, which further adds to the growth of the product market. For instance, according to Indian Brand Equity Foundation, in India, there were 445.96 million internet users in 2017 and the number is expected to increase up to 829 million by 2021.
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On the basis of region, North America was the prominent market in 2019, accounting for the maximum share in the global sexual wellness market. This was attributed to the presence of international brands in the region, which offer products with high improvisations such as condoms with extra applied lubricants, attracting a large consumer base. In addition, growth in the acceptance of the LGBT community rights and legalization of same sex marriages in the region are expected to promote the growth of product market during the forecast period. Furthermore, personal hygiene is also expected to boost the market growth.
Key findings of the study
The sexual wellness market size was valued at $74,770.00 million in 2019, and is estimated to reach $108,320.00 million by 2027, growing at a CAGR of 4.6% during the forecast period.
By product, the lubricants & sprays segment is estimated to witness the fastest growth, registering a CAGR of 6.2% during the forecast period.
In 2019, by end user, the men segment was valued at $33,631.2 million and it accounted for 45.0% of the global sexual wellness market share.
In 2019, the U.S. was the most prominent market in North America, and is projected to reach $20,584.80 million by 2027, growing at a CAGR of 3.80% during the forecast period.
The players in the product market have adopted product launch and business expansion as their key developmental strategies to expand their market share, increase profitability, and remain competitive in the market. Technological up-gradation in manufacturing and product development are the sexual wellness market opportunity in front of the manufacturers and distributors. The major key players operates in sexual wellness industry are Church & Dwight Co., Inc., Reckitt Benckiser Group Plc, Doc Johnson Enterprises, Karex Berhad, TENGA Co., Ltd., Hot Octopuss, Caya, California Exotic Novelties LLC, Bijoux Indiscrets, and Adam & Eve Stores.
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