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Sexual Wellness Market Report 2024: Market Size, Share, and Industry Insights
Sexual Wellness Global Market Report 2024
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According to The Business Research Company's, The sexual wellness market size has grown strongly in recent years. It will grow from $43.44 billion in 2023 to $47.27 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to changing societal attitudes towards sex and sexual health, growing emphasis on overall health and well-being, improved sexual education, and acceptance of sexual wellness products and practices.
The sexual wellness market size is expected to see strong growth in the next few years. It will grow to $66.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to the rising prevalence of STDs, greater acceptance and open discussions about sexuality, expanding product variety, increased online shopping and discreet purchasing options, and improved marketing strategies. Major trends in the forecast period include the integration of IoT technology, the use of VR technology to create immersive sexual experiences, and the and the integration of teledildonics.
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Market Drivers and Trends:
The increasing prevalence rate of sexually transmitted diseases is expected to propel the growth of the sexual wellness market going forward. A sexually transmitted disease is an infection transmitted through sexual contact caused by bacteria, viruses, or parasites. The prevalence rate of sexually transmitted diseases (STDs) is increasing due to factors such as high-risk sexual behaviors and a lack of awareness about transmission and prevention methods. Sexual wellness fosters a proactive approach to sexual health, empowering individuals to make informed decisions and adopt behaviors that minimize the risk of STDs while promoting overall well-being. For instance, in June 2024, according to GOV.UK, a UK-based government website, in 2023, there were 401,800 new diagnoses of sexually transmitted infections (STIs), marking a 4.7% increase from the 383,789 cases reported in 2022. Therefore, the increasing prevalence rate of STDs is driving the growth of the sexual wellness market.
Major companies operating in the sexual wellness market are focusing on developing innovative sexual wellness products, such as desire-boost , to meet the growing consumer demand that enhances pleasure and intimacy. Desire boost are dietary supplements marketed to improve sexual desire, containing ingredients like vitamins, minerals, herbal extracts, and amino acids known to support sexual health and vitality. For instance, in November 2023, Setu Nutrition Private Limited, an India-based provider of modern nutritional supplements, launched a new line of sexual wellness named Desire Boost to cater to the growing demand for natural solutions promoting sexual health and vitality in collaboration with MyMuse, an India-based personal wellness brand. The are formulated with a blend of clinically-backed, plant-derived ingredients like Ashwagandha, Gokshura, Korean Ginseng, Shatavari, L-Arginine, and L-Citrulline. The convenient and delicious are caffeine-free, GMO-free, and free of side effects, making them suitable for daily use.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Reckitt Benckiser Group plc, Okamoto Industries Inc., LELO, Mankind Pharma, Doc Johnson Enterprises, Karex Berhad, Tenga Co. Ltd., Veru Inc., Blush Novelties Inc., OhMiBod LLC, LifeStyles Healthcare Pte. Ltd., AdvaCare Pharma, BioFilm Inc., Pjur Group Luxembourg S.A., Wicked Sensual Care, HLL Lifecare Limited (HLL), Bijoux Indiscrets SL, CC Wellness, Hot Octopuss, Satisfyer (EIS GmbH), Womanizer Group Management GmbH, Humanwell Group
Sexual Wellness Market 2024 Key Insights:
• The sexual wellness market size is expected to see strong growth in the next few years. It will grow to $66.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.9%.
• Impact Of Rising STD Rates On The Sexual Wellness Market
• Setu Nutrition's Innovative Approach To Sexual Wellness
• North America was the largest region in the sexual wellness market in 2023
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