The personal lubricant market in APAC is likely to showcase an increase in the utility of female-centric products.
Arizton’s recent market research report on the global sexual lubricant market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by distribution (retail and online), products (water-based, oil-based, silicone-based, and hybrid), by gender (male and female), and by geography (APAC, Europe, North America, Latin America, and MEA).
The global personal lubricant market is expected to grow at a CAGR of around 8% during 2018−2024.
The increase in per capita discretionary income of people globally and a rapidly growing number of dual-income households in developing as well as developed markets are major growth factors for the global sexual wellness market. The global demand for personal lubricant was over $1 billion in 2017.
The top drivers and trends propelling the growth of the personal lubricant market are discussed below:
Increased Acceptance of Personal Lubricant among Women
The acceptance of personal lubricant among women is increasing worldwide. One of the major reasons is the lack of natural lubrication during sexual intercourse, which leads to vaginal dryness and causes irritation and itching. Various studies and surveys reveal that female lubricants are favored by women as these lubricants are perceived as products to improve comfort during sexual intercourse and reduce vaginal tearing. Although developed regions such as North America and Europe have a slightly higher acceptance of female products, emerging markets in APAC are likely to showcase an increase in the utility of female-centric products during the forecast period.
Rising Demand for Personal Lubricant from Baby Boomers
Various studies and surveys reveal that baby boomers are among the primary buyers of personal lubricant. In the US, baby boomers are the largest consumer segment and outspend other generations, such as Generation X and millennials. With aging, baby boomers find their sexual life challenging. Male needs in this domain have been taken care of as the industry is much focused on male products that enhance the sexual experience (such as Viagra or Cialis), women have been left with a few or limited options in this category. Estimates reveal that about 70 million women globally are above 45 years, and a majority of these women would look to find non-hormonal solutions to help them maintain a healthy sexual life. This offers a lucrative growth opportunity for vendors in the personal lubricant market.
High Influence of Internet on End-users' Purchasing Behavior
The factors that enable end-users to make informed purchase decisions are high penetration of wireless broadband internet, strong adoption of smartphones and tablets, and increased social media users. These factors along with the emergence of m-commerce have paved the way for online shopping through smart and connected devices. Consumers feel more comfortable about purchasing sexual wellness products while on-the-go. Major vendors in the global online retail market for personal lubricant are Amazon, Ann Summers, Lovehoney, Topco Sales, and eBay. An estimated 28.27% of personal lubricant sales take place via the internet; all these factors will drive the demand for sexual lubricants during the forecast period.
LifeStyles, BioFilm, Church & Dwight, KarexBerhad, and Reckitt Benckiser are identified as prominent vendors in the personal lubricant market.
The complete overview of the latest market research report on the global sexual lubricant market by Arizton is now available.
The report offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.
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