Sexual Wellness Market Size To Grow At 9.4% CAGR
Market Data Forecast
Sexual wellness refers to the complete physical and mental sexual well-being of an individual. The purpose of sexual well-being is to protect people from sexually transmitted diseases and promote safe and healthy sex life. Sexual wellness is associated with providing both safety and pleasure during intercourse. Sexual wellness also helped prevent the spread of the virus during the covid period, further promoting the importance of the market. The industry encourages using products for safe sex and cultivating healthy sexual habits like masturbation.
The pandemic had a positive impact on the global sexual wellness market. As the lockdown made people unable to contact others and meet new people, the demand for self-pleasure items like vibrators increased significantly. In addition, the pandemic has led to more people buying condoms for protection and a significant shift of customers from offline to online. The resulting online traffic helped promote sexual wellness products. Additionally, the government's initiatives toward women's safety and sexual education have promoted the market scope during the pandemic.
Efforts to better women's health are supporting the growth of the market.
The market is on the rising efforts toward sexual wellness awareness for women in low-income countries. The rising cases of HIV/AIDS, gonorrhea, and other sexually transmitted diseases are urging people toward products for safe sex and also helping the market for sex toys to enhance personal pleasure. Furthermore, the digitalization of the world and the internet's penetration make it easier to purchase sexual tools without being humiliated or embarrassed anonymously. The taboo associated with physical activities is being cut down by the newer generations, becoming a discussed topic.
Additionally, the growing preference toward contraceptives for women, which helps prevent STDs, and the increasing number of products from new market players and companies are promoting the market's growth. Furthermore, the rising investments in sex toys and contraceptives, the availability of various products, and the low cost of certain purchases further encourage the markets to rise. Finally, normalizing the LGBTQ+ community and eradicating the prejudice surrounding it is helping expand the market.
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The fading stereotypes surrounding the use of sex toys are helping the growth of the segment.
The market based on products is divided into, Contraceptives, Condoms, Sex toys, Lubricants, Sexual enhancement supplements, and Others. The sex toys segment is expected to dominate the market during the forecast period due to rising awareness and eradication of the taboo surrounding sex. The lubricants segment is also expected to show growth due to the need for lubricants as individuals age and several lifestyle habits that could cause potential difficulty in intercourse. In addition, the growing incidences of LGBTQ+ communities and teens with depression and stress are helping the need for sexual wellness products.
The growing market for products is promoting the dominance of the retail pharmacy segment.
The market based on distribution channels is divided into Hospital Pharmacies, Retail Pharmacies, and Online pharmacies. The Retail pharmacies segment is expected to dominate the market during the forecast period due to the rising awareness regarding the importance of safe sex and eradicating embarrassment surrounding sexual products. Additionally, the online pharmacies segment is also expected to have a significant share in the market due to the rise of the internet in recent times and the convenience of ordering things and getting them delivered to home.
Regional outlook of the global sexual wellness market:
North America, followed by Europe, dominates the market. The dominance of the North American region is due to several factors, like the growing rates of sexually transmitted diseases and a rising awareness rate among the population. Additionally, the region is a well-educated space with high revenue from sexual products. For example, the market for the U.S. was measured to be around 9.98 billion by 2021, and Canada is also expected to register a significant CAGR. Furthermore, European countries like the U.K., Germany, France, Spain, etc., are gaining traction in the market due to increased efforts to educate people about sexual wellness.
The Asia-Pacific market is also expected to show significant growth due to the increasing advancements in healthcare facilities and large populations. In addition, the growing popularity of sex toys among younger generations promotes the market's growth.
Key players in the global sexual wellness market:
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 are some of the leading companies in the sexual wellness market.
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