Sexual Wellness Market Size to Hit USD 244.22 Billion by 2032 at 8.43% CAGR – Report by Market Research Future (MRFR)
Sexual Wellness Market Insights and Trends By Product Type (Sex Toys (Vibrators, Penis Rings, Wands, Dildos, Others), Condom and Contraceptives, Sexual Enhancement Supplements, Lubricants, Ointments, and Others), Gender (Male, Female, and Others), Distribution Channel (Hospital Pharmacy, Hypermarkets & Supermarkets, Retail Pharmacy, Online Pharmacy, and Others), and Region (North America, Europe, Asia-Pacific, and Rest of the World), Competitive Market Growth, Size, Share and Forecast to 2032
New York, USA, Sept. 05, 2023 (GLOBE NEWSWIRE) -- *Sexual Wellness* *Market Overview*
According to a Comprehensive Research Report by Market Research Future (MRFR), “Sexual Wellness Market *Information by Product Type, Gender, Distribution Channel, Region, Forecast till 2032*, the market size was valued at USD 113.74 billion in 2022 and is projected to grow from USD 125.97 Billion in 2023 to USD 244.22 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.43% during the forecast period (2023 - 2032).
*Market Scope:*
Sexual wellness is a state of physical, mental, and social wellness about sexuality. The main goal of sexual wellness products is to facilitate safe sex while also contributing to increased sexual pleasure. The growth of the global sexual wellness market is attributed to rising prevalence of sexually transmitted diseases and increase in the number of sexual wellness initiatives by government & private organizations to create awareness about sexual health. Furthermore, the rising internet penetration provides growth opportunities for the market in the future. However, the lack of sex-positive education and awareness in developing countries might hinder the market's growth in the forecast period.
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*Report Scope:*
*Report Attribute* *Details*
Market Size in 2032 USD 244.22 billion
CAGR 8.43%
Base Year 2022
Forecast Period 2023-2032
Historical Data 2021
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product Type, Gender and Distribution Channels
Geographies Covered North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers Rising prevalence of sexually transmitted diseases boosts the growth of the market.
Increasing concern about personal hygiene and Growing technological advancements
*Sexual Wellness Market** Competitive Dynamics:*
*The sexual wellness companies are as follows:*
· RECKITT BENCKISER GROUP PLC
· LELO
· BMS FACTORY
· MANKIND PHARMA
· LOVEHONEY GROUP
· CHURCH & DWIGHT CO., INC
· DOC JOHNSON ENTERPRISES
· LIFESTYLES
· FUN FACTORY GMBH
· KAREX BERHAD
*Sexual Wellness Market Trends**:**Market Drivers*
For the right reasons, concerns about sexual and reproductive health are at the forefront of public The global sexual wellness market is emerging due to the rising prevalence of sexually transmitted diseases, and the increase in the number of sexual wellness initiatives by government & private organizations to create awareness about sexual health. Additionally, the growing Lesbian, Gay, Bisexual, and Transgender (LGBT) population will provide growth opportunities for the market in the future, as this would evidently boost product consumption across the globe exponentially. However, the lack of sex-positive education and awareness in developing countries might hamper the market's growth in the forecast period. Furthermore, there is yet a lack of product penetration in underdeveloped nations as basic economic factors are at subpar levels, which results in a lack of affordability/demand for luxury products within the market category.
Sexually Transmitted Diseases (STDs) are generally transmitted from one person to another during sexual intercourse. The bacteria, viruses, or parasites that cause sexually transmitted infections are passed from person to person by blood, semen, vaginal discharge, and other bodily fluids. According to the World Health Organization (WHO), more than 1 million Sexually Transmitted Infections (STIs) are acquired every day worldwide, the majority of which remain asymptomatic. Each year there are an estimated 374 million new infections with 1 of 4 curable STIs such as chlamydia, gonorrhea, syphilis, and trichomoniasis. The rising prevalence of STDs such as genital herpes, Human Immunodeficiency Virus/Acquired Immunodeficiency Syndrome (HIV/AIDS), genital warts, hepatitis B, chlamydia, syphilis, gonorrhea, vaginitis, trichomoniasis, and others demand sexual wellness products such as a condom to prevent STDs, including HIV. For instance, according to World Health Organization (WHO) figures, in 2022, more than 500 million people aged between 15 to 49 years old are estimated to have a genital infection with Herpes Simplex Virus (HSV). Similarly, as per the WHO, in 2021, approximately 38.4 million people were living with HIV across the globe.
Moreover, a condom is a sheath-shaped barrier fabricated to be used during sexual intercourse to reduce the probability of a sexually transmitted infection. According to the Joint United Nations Programme on HIV/AIDS (Switzerland), consistent and correct use of condoms provides effective protection against unplanned pregnancies and STDs. Thus, condoms & contraceptives, and other sexual wellness products are highly used to prevent STDs. Hence, the rise in STDs such as HIV/AIDS among others drives the market growth.
*Market Restraints*
Sex education plays a critical role in developing an individual’s personality and helps to make better decisions by adopting a rational frame of mind instead of relying on impulse. Advanced sex education programs would bring about various positive changes and directly result in a decrease in the number of sexual assault cases. Sex education does not cover just sex; it is a complete overview of a person’s mental, emotional, physical, and social well-being. Lack of sex education and healthy discussion around sexual activities in developing countries such as the Central African Republic, Philippines, and others is adversely affecting the growth of the global sexual wellness market. Additionally, sexual products and their business is seen as taboo in many cultures, and hence personal reservations and prejudice against sexual wellness products can cause losses for the market.
In addition, raw materials such as rubber, plastic, latex, and nitrile are used in sexual wellness products that come in direct contact with the skin and may cause severe allergic reactions in people with sensitive skin. Some sex toys can cause severe burning, itching, and other complications as they may contain harmful chemicals such as phthalates and parabens. Moreover, lubricants also contain chemical components that can increase the risk of STDs. Thus, complications related to sexual wellness products and a lack of strict regulations on sexual wellness products in developing countries are also anticipated to restrain the growth of the market.
*COVID-19 Analysis:*
Projections indicate tremendous growth, expansion, and higher sales volume in the year of the pandemic (2020) in the sexual wellness market due to the unique coronavirus epidemic. Other businesses and industries in the market have been struggling to figure out how to adapt to the changing demand and supply dynamics since the outbreak. This market has been affected by a wide variety of factors. Ironically, as worldwide governments imposed the lockdown, the growth of the sexual wellness sector served as a major background factor contributing to a decline in demand and production capacity of other industries.
Condoms have seen a dramatic spike in popularity, whereas sex toys and similar items have seen a precipitous decline in popularity. Many people used to rely on sex toys to satisfy their sexual needs. As the virus spread and a lockdown was instituted, nations published suggestions urging safe sexual conduct internationally. Several large multinational firms are actively looking for acquisition targets in the sexual wellness industry as a result of the enormous damage caused by the pandemic. From 2022 to 2030, this area of the industry has excellent growth prospects.
*Browse In-depth Market Research Report (129 Pages) on Sexual Wellness:* https://www.marketresearchfuture.com/reports/sexual-wellness-market-7328
*Sexual Wellness Market Segmentation:*
*By Product Type*
Based on product type, the global sexual wellness market has been segmented into sex toys, condom and contraceptives, sexual enhancement supplements, lubricants, ointments, and others. The sex toys segment dominated the market in 2021 and is projected to be the fastest-growing during the forecast period, 2022–2030.
The sex toys segment is further bifurcated into vibrators, penis rings, wands, dildos, and others. The sex toys industry is propelling due to the increasing purchase and usage of sex toys. Furthermore, using sex toys for sexual pleasure and orgasm can help improve pain, sleep, stress levels, immunity, and cognitive function. Moreover, intrauterine system (IUS), intrauterine device (IUD), and contraceptive implants are used for protection from unwanted pregnancy and sexually transmitted diseases. For instance, according to U.S. Department of Health & Human Services, there were 2.5 million reported cases of chlamydia, gonorrhea, and syphilis in 2021. In addition, sexual enhancement supplements made from natural ingredients contain amino acids, vitamins, minerals, or herbs such as palmetto, yohimbe, or maca. The majority of the products are tablets or capsules. Furthermore, lubricants and ointments are used to keep the vaginal area moist and reduce discomfort caused due to dryness. Furthermore, the others segment includes sprays and creams.
*By Gender*
Based on gender, the global sexual wellness market has segmented into male, female, and others. The male segment dominated the market in 2021, while the female segment is projected to be the faster-growing segment during the forecast period, 2022–2030.
Sex toys, men condoms, lubricants, and delay sprays are among the products available in the sexual wellness market for men. Furthermore, advances in male masturbators, such as 3D realistic vagina, are explicitly attracting males, which is expected to boost the sexual wellness market. Moreover, men have encouraged to use sexual wellness products, among other things, to prevent pregnancy, sexually transmitted infections, and problems related to men's sexual health, which has fueled the growth of the sexual wellness market. Additionally, female condoms, diaphragms & caps, contraceptive sponges, vaginal rings, sub-dermal contraceptive implants, intra-uterine contraceptive devices (IUCDs) and others are products available in the sexual wellness market for female. The others segment includes LQBTQ community.
*By Distribution channel*
Based on distribution channel, the global sexual wellness market has classified as hospital pharmacy, hypermarkets & supermarkets, retail pharmacy, online pharmacy, and others. During the forecast period, online pharmacy segment is expected to register the fstest growth as online pharmacies sell specific product range and associated items such as sex toys, condoms, contraceptives, and other products. This increases the expertise and capability of online pharmacy in providing more nuanced product recommendations to customers, thereby increasing sales, and driving market growth. Additionally, reluctance to purchase sexual wellness products in-store is further driving the online pharmacy segment.
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*Sexual Wellness Market Regional Analysis:*
In the previous forecast period, which ended in 2021, North America was the fastest-growing regional market, and similar growth rates are expected for the current term. This is mostly attributable to the fact that many innovative condoms and sex aids have been produced by companies targeting the American market. Due to the high demand for these products, many different strategies for product development have emerged, all of which should contribute to the expansion of the sexual wellness market.
Further, the rising prevalence of Sexually Transmitted Diseases (STDs) and HIV infection is expected to drive the market growth in the North American region. Increased government initiatives and non-governmental organizations (NGOs) promoting contraceptive use are expected to drive market growth. The growing childbearing population of women in the US, as well as the ease of online shopping and e-commerce, are expected to boost sales of sexual wellness products. The NYC Health Department recommended masturbation, as the safest form of sexual activity to minimize contact with others and the spread of COVID-19. Additionally, according to a BespokeSurgical survey of 2,300 people, California ranks second for spending on sex products, which is around 28.1% higher than the national average, and Nevada ranks third, with spending that is around 23.8% higher than the national average. In addition, the average U.S. citizen spends an average of USD 150 – USD 250 on sex products annually. Furthermore, during the COVID-19 pandemic, the Northeast experienced surge in demand for sex toys, particularly sex dolls. For example, in 2020, sales of Silicon Wives in New York City increased by approximately 65% over 2019. Moreover, according to a Miami-based company, SexDollGenie, sales in the city have increased 218% from last year, with nearly 1,000 of the life-like dolls being purchased primarily by the public of Brooklyn (38%), Manhattan (30%), the Bronx (22%), Queens (9%), and Staten Island (1%).
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