New York, USA, Oct. 31, 2022 (GLOBE NEWSWIRE) — Sexual Wellness Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), Sexual Wellness Market Information by Product, Distribution Channels- Forecast Till 2030, the market size was valued USD 77 billion in 2021 and expected to reach USD 112 Billion by 2030 at CAGR of 4.55% during the forecast period 2022-2030.
Market Scope:
When a person’s physical, mental, and social requirements and wants in relation to sexuality are met, they are said to be sexually healthy. Sexual wellness market items help achieve the desired outcomes of increased sex enjoyment, increased safety during sexual activity, and less vulnerability to sexually transmitted diseases including HIV/AIDS and other STDs.
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Report Scope:
Report AttributeDetailsMarket Size in 2030USD 112 billionCAGR4.55%Base Year2021Forecast Period2022-2030Historical Data2020Forecast UnitsValue (USD Billion)Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and TrendsSegments CoveredBy Product and Distribution channelsGeographies CoveredNorth America, Europe, Asia-Pacific, and Rest of the World (RoW)Key Market DriversIncreasing global prevalence of Sexually Transmitted Diseases (STDs)Increase in awareness regarding sexual health items
Sexual Wellness Market Competitive Dynamics:
The sexual wellness companies are as follows:
Reckitt Benckiser Group PLCKessel Medintim GmbHChurch and Dwight Co., Inc.Hot Octopuss LimitedTENGA Co., Ltd.Karex BerhadBijoux IndiscretsAdam & Eve Stores (PHE, Inc.)California Exotic Novelties, LLCDoc Johnson Enterprises
Sexual Wellness Market Dynamics:
Market Drivers
Reproductive health and sexual satisfaction are hot issues for all the right reasons. The government is taking action to promote sex education because of the widespread availability of sexually explicit media. The provision of comprehensive sex education programs, in tandem with other initiatives and schemes, will aid in lowering the rate of transmission of HIV and other sexually transmitted diseases. This is a key factor expected to boost demand for these goods and services through the 2030 prediction period.
The popularity of sexual wellness goods like lubricants, delay sprays, and vibrators has skyrocketed in the LGBT community thanks to the increased acceptance of the community and the legalization of gay marriages. The United States, Sweden, the Netherlands, and many more European countries have all passed legislative rights for the LGBT people. Legal protections for same-sex marriage and same-sex partnerships are likely to fuel the expansion of the sexual health industry. Due to their ability to protect customers’ anonymity and privacy, online retailers have become increasingly popular in the global sexual health industry. Online retailers’ ability to offer targeted discounts and doorstep delivery has also contributed to their widespread appeal among today’s youth.
The importance of sexual health and its relationship to overall health is becoming increasingly mainstream, prompting the development of numerous educational initiatives. The anonymity of the internet plays a crucial role in this, as it allows users to shop around for things that can make sexual encounters more secure and more pleasurable for both partners. In addition, people are feeling more encouraged to be open and honest with their partners about their sexual needs and preferences because of the emphasis placed on sexual wellbeing in discussions of people’s overall social well-being.
Market Restraints
However, most emerging and poor countries do not embrace or encourage the pursuit of sexual pleasure. Because of the stigma attached to discussing one’s wants and needs, people often avoid the subject altogether. The population, and especially millennials, are increasingly reliant on unreliable and artificial means of obtaining information due to a combination of a lack of awareness and a decline in the availability of correct sources for this data. During the projection period ending in 2030, these variables are projected to act as obstacles to the smooth functioning of the industry and growth of the market.
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COVID-19 Analysis:
The sexual wellness industry is one that stands to gain greatly from the novel coronavirus outbreak, with projections indicating significant growth, expansion, and increased sales volume in the year of the pandemic (2020). Since the epidemic hit, however, most other market companies and industries have remained clueless about how to survive on the backs of market forces of demand and supply. There has been a wide range of effects on this particular market. Ironically, the major background that contributed to a reduction in demand and production capabilities of other industries was the increase in the sexual wellness sector as the lockdown was imposed by global governments.
While there has been a significant increase in demand for condoms, there has been a significant decrease in demand for sex toys and other related things. When it came to fulfilling their sexual desires, many people once turned to sex toys. International recommendations encouraging safe sexual behavior were published by nations as the virus spread and a lockdown was implemented. As a result of the widespread damage caused by the pandemic, several multinational corporations are currently searching for acquisition targets in the sexual wellness market. This sector holds significant development potential for the industry from 2022 to 2030.
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Sexual Wellness Market Segmentation:
By product
The market has been segmented by product into Sex Toys, Condom, Contraceptive, Sexual Enhancement Supplements, Lubricants, Ointments. The contraceptive segment is expected to record the highest CAGR over the review period.
By Distribution channel
The drug stores segment is expected to rise at a notable CAGR over the review period.
Sexual Wellness Market Regional Analysis:
North America was the fastest-growing regional market during the previous projection period that concluded in 2019, and similar growth rates are anticipated for the current term. This is due in large part to the fact that businesses catering to the American market have introduced numerous novel sex aids and condoms. As a result of the widespread need for these items, numerous approaches to product advancement have been adopted, all of which should aid in the growth of the sexual wellness industry. The rising number of government programs and non-governmental organization (NGO) efforts to encourage birth control could spur expansion of the industry. The rising number of childbearing women in the United States, along with the convenience of e-commerce, is predicted to boost demand for sexual health products.
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More and more people in the Asia-Pacific region are making purchases online because of the convenience and ease with which they may browse a wide variety of products and compare prices. Retailers can benefit from this because there is no need to open new stores. As a result of the convenience of being able to read reviews left by other shoppers, compare prices among sellers, and look up specific product information, internet shopping has become increasingly popular. To add insult to injury, the COVID-19 pandemic caused a surge in online shopping in India. The increasing popularity of e-commerce is a key factor propelling the development of the sexual health industry in India.
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Discovered on: 2022-10-31 00:00:00
Source: Sexual Wellness Market Size Worth USD 112 billion by 2030
