Europe Sexual Health Market to be Worth $8 Billion by 2024
Arizton’s recent market research report on the sexual wellness market in Europe provides comprehensive industry analysis, trends forecasts, and competitive analysis. The research study segments the market by product types (sex toys, condoms, exotic lingerie, sexual lubricants, and others), end-users (male and female), distribution types (retail and online), and geography (Germany, UK, France, Italy, Russia, Spain, Sweden, Poland, Portugal, Netherland, Turkey, and Czech Republic).
The sexual wellness market in Europe is expected to grow at a CAGR of more than 6% during 2018-2024.
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Condoms: One of the Highly Sold Sexual Wellness Product
Condom is one of the widely used contraceptive with a revenue share of more than 25% in the global sexual wellness market. They are highly effective in preventing the transmission of STDs and STIs. Thus, having realized the lethality of STDs such as AIDS, governments are emphasizing on the use of condoms. Further, innovations in product development and distribution channels are enabling better adoption of condoms, especially among the young population, which is a major driving factor for sexual wellness market in Europe. The condom market is dominated by male condoms, due to ease of purchase and usage due to better availability, wearability, and easy disposable. Further, innovation, advertising appeal, and distribution reach are expected to play a major role in the growth of the condoms in sexual wellness market in Europe. In addition, global female condom market is witnessing rapid growth.
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Female Centric Products are Gaining Traction in the Market
The market for sexual wellness products catering to the female segment is expected to grow at a CAGR of around 7% during the forecast period. The sexual wellness market in Europe is witnessing a gradual shift towards female centric sexual wellness products. The market is witnessing the emergence of several start-ups such as Nuelle, B-wom, Damivia, and Sustain who are catering the female end-users. Further, with numerous sexual wellness market start-ups raising funds worth more than $1 billion within the last few years, the market for other established vendors remains highly optimistic, which is expected to contribute in the growth of sexual wellness market in Europe.
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Online Distribution Mode is Becoming Popular Among the Potential Buyers
The online sales are generating high revenues for the sexual wellness market in Europe. The growth in online sales is set to increase by over 20% YOY during the forecast period. The growth can be attributed to availability of wider range at single platform at discounted rates. In addition, the online channel enables the access of potential buyers to have a look on consumer reviews that are lacking in brick-and-mortar distribution formats. Further, Amazon, Adam & Eve online stores, eBay, Ann Summers, Alibaba, and AliExpress are some of the leading online retailers of the sexual wellness market in Europe.
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Church & Dwight, Diamond Products, Karex Berhad, LifeStyles, Okamoto, and Reckitt Benckiser are the key vendors of the sexual wellness market in Europe.
The complete overview of the latest market research report on the sexual wellness market in Europe by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges and provides market sizing and forecast for major geographical regions and key countries.
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