Online channel is becoming a new potential business channel to increase sales in the sexual wellness market in East Asia.
Arizton’s recent market research report on the sexual wellness market in East Asia 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 (China, Japan, South Korea, Malaysia, Indonesia, Thailand, Singapore, the Philippines, Vietnam, and Cambodia).
The sexual wellness market in East Asia is expected to grow at a CAGR of more than 7% during 2018−2024.
Read our latest market research report: Sexual Wellness Market - Global Outlook and Forecast 2020-2025
Increased usage of digital technology
The increased penetration of the internet has opened growth avenues for vendors. The growing online demand for sexual wellness products in East Asia has grown significantly over the years due to the increased penetration and adoption of smartphones. As the online channel is becoming a new potential business channel to reach customers and increase sales, companies are focusing to develop their online presence in the market. For instance, in Singapore, the online sale of condoms and lingerie witnessed the growth of over 45% during the valentines’ week in 2017.
Increased collaborations with government bodies
Collaborations with governments’ societal programs enable vendors to promote sexual wellness products. These collaborations help in increasing marketing and advertisements, thereby increasing the market scope. In addition, vendors are focusing on expos, trade shows, and sexual wellness festivals to maximize the reach of sexual wellness products in East Asia. As sexual wellness festivals and trade shows are reaching the socially restrictive societies of APAC, the overall sexual wellness market in East Asia is expected to bring new growth opportunities for vendors in the coming years.
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High focus on women-specific sexual issues
The rising awareness of sexual wellness disorders among women is significantly contributing to the growth of the sexual wellness market in East Asia. Several awareness programs are going on Malaysia, Singapore, Thailand, Indonesia. The rise of female sexual disorders, along with ailments such as Sjögren's syndrome, atrophic vaginitis, female sexual arousal disorder (FSAD), stress, depression, and fatigue can lead to vaginal dryness among women., thereby increasing the demand for sexual lubricants and medicines. Therefore, the increased awareness will further lead to a wide acceptance of sexual wellness products among women thereby driving the sexual wellness market in East Asia.
Church & Dwight, Diamond Products, KarexBerhad, LifeStyles, Okamoto, and Reckitt Benckiser are some of the key vendors of the sexual wellness market in East Asia.
The complete overview of the latest market research report on the sexual wellness market in East Asia by Arizton is now available.
The report 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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