Increase in interest for sexual wellness products and their awareness among consumers further boosts the market growth

PORTLAND, UNITED STATES, UNITED STATES, October 7, 2020 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global sexual wellness market garnered $74.77 billion in 2019, and is estimated to reach $108.32 billion by 2027, registering a CAGR of 4.62% from 2021 to 2027.The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.

Surge in cases of HIV and STIs, aggressive marketing strategies, and surge in the investment for R&D activities propel the growth of the global sexual wellness market. On the other hand, reduced sexual acts and limited awareness and accessibility to condoms impede the market growth. Moreover, rise in disposable income and increase in millennial population are anticipated to offer new opportunities in the coming years.

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Covid-19 Scenario-

•The Covid-19 outbreak has disrupted the manufacturing procedures in the industry. However, the demand for sex toys has increased during the lockdown.
•However, the government bodies have issued certain relaxations on the existing regulations in order to maintain economic benefits. This has permitted the companies to restart their processes.
•The sexual wellness market is segmented on the basis of product, end user, distribution channel, and region

Based on product, the sex toys segment accounted for around two-fifthsof the global sexual wellness market in 2019, and is expected to maintain its dominance in terms of revenue throughout the forecast period. Conversely, the lubricants & sprays segment is estimated to portray the highest CAGR of 6.2% from 2020 to 2027. The report also analyzes segments including male condoms, female contraceptives, and others.

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Based on distribution channel, the market is divided into specialty stores, drug stores, hypermarkets & supermarkets, and online stores. The online segment contributed to the highest market share with nearly one-third of the global sexual wellness market in 2019, and is estimated to maintain its leadership position during the forecast period. In addition, the same segment is estimated to generate the fastest CAGR of 5.0% from 2020 to 2027.

Based on region, North America held the highest share based on revenue, holding for more than two-fifths of the global sexual wellness market in 2019, and is projected to maintain its dominant position throughout the forecast period. On the other hand, the Asia-Pacific region is estimated to generate the fastest CAGR of 5.4% from 2020 to 2027. Furthermore, the report also studies regions across LAMEA and Europe.

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The key players in the report include Reckitt Benckiser Group Plc, Doc Johnson Enterprises, KarexBerhad, TENGA Co., Ltd., Hot Octopuss, Caya, California Exotic Novelties LLC, Bijoux Indiscrets, Adam & Eve Stores, and Church& Dwight co., Inc.

Similar Report

Sex Toy Market: https://www.alliedmarketresearch.com/sex-toys-market-A06481

Wedding Ring Market: https://www.alliedmarketresearch.com/wedding-rings-market-A06489

Tushar Rajput
Allied Analytics LLP
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