Growing acceptance towards sexual wellness is a key factor boosting sexual wellness products market

ABOUT THIS REPORT

OVERVIEW

Sexual Wellness Market was valued at $75 billion in 2019 with a CAGR of 5.3% from 2020 to 2026.

Sexual wellness is a blend of physical, emotional, mental, and social well-being connected to sexuality. Growing awareness regarding sexual wellness provides a respectful approach involving sex and sexual relationships. Sexual wellness ensures a safe and pleasurable experience without having any kind of poor discrimination, coercion, and violence. Sexual wellness products reduce the chance of contracting sexually transmitted diseases (STDs) or getting pregnant.

Rising instances of AIDS/HIV and STIs is expected to boost the market growth. For instance, According to the U.S. Department of Health & Human Services, approximately 37.9 million people are suffering from HIV/AIDS in 2018, of which 1.7 million were children and 36.2 million were adults. In 2018, the new cases of HIV/AIDS were 1.7 million individuals worldwide. The majority of people with HIV/AIDS are in low and middle-income countries. In 2018, there were 5.9 million (16%) HIV/AIDS cases in the Asia Pacific, 2.2 million (6%) in Western and Central Europe and North America, 20.6 million people with HIV (57%) in eastern and southern Africa, and 5.0 million (13%) in western and central Africa. According to the World Health Organization (WHO), more than 1 million sexually transmitted infections (STIs) are acquired every day globally. Further, the rapid growth of e-commerce is a key driving factor of the market. The rapid growth of the e-commerce industry over recent years has led to substantial opportunities for sex product vendors concerning the distribution and expansion of products. E-commerce has transformed the purchasing pattern of consumers through rich content, attractive websites, and search engine optimization-based marketing. The number of online shoppers has increased owing to the consumers’ need for privacy and convenience, especially regarding sex products as the majority of the individuals have inhibitions in buying such products in the retail environment.

Condoms, Female Contraceptive, Sex Toys, Lubricants, and Others is the type segment of the market scope. By Distribution Channels, the market is divided into Retail pharmacy, E-commerce, and Others. The report covers the value of the global market by type and distribution Channels.

Sex Toys is dominating the global sexual wellness market in 2019, owing to the product innovations and effectiveness of sex toys to generate revenue and acquire a significant share of the market.

North America, Europe, Asia Pacific, South America, and Middle East & Africa are taken into consideration at the global sexual wellness value figures. While North America is further categorized into enhancing the United States, Canada, and Mexico, Europe is split into the United Kingdom, Germany, France, Italy, and Rest of Europe. Asia-Pacific covers India, China, Japan, South Korea, and Rest of Asia Pacific in its scope. South America is bifurcated into Brazil, Argentina, and Rest of South America, with Middle East & Africa involving GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa.

North America was dominating the global sexual wellness market in 2019, due to the commercialization of improvised and innovative sex toys, and condoms.

Major players operating in the sexual wellness industry include Doc Johnson Enterprises, Church & Dwight Co. Inc., Reckitt Benckiser Group PLC, TENGA Co. Ltd., Adam and Eve, LifeStyles Healthcare Pte Ltd, LELO, Lovehoney Group Ltd., Veru Inc., BioFilm IP LLC, Karex Berhad, and Hot Octopuss.

The strategic alliance between companies to develop, market, and distribute sexual wellness and commercialization of innovative sexual wellness products are some of the strategies adopted by the major companies.