The global sexual wellness market is projected to grow from $26.18 billion in 2016 to $37.19 billion by 2022, growing at an impressive CAGR of 6.03%.
Arizton’s recent market research report on the sexual wellness market categories the market by product (sex toys, condoms, exotic lingerie, sexual lubricants, and others), distribution channels (retail and online), and geography (APAC, Europe, North America, and ROW).
The top 3 drivers and trends of the sexual wellness market are discussed below:
Growing Cases of AIDS/HIV and Increasing Prevalence of STDs
The prevalence of STDs and the growing number of individuals with AIDS/HIV are driving the growth of the market size in the global sexual wellness market.
According to the UNAIDS, there were an estimated 36.7 million people living with HIV in 2015.
Various governments, institutions, and NGOs are working toward reducing the prevalence of HIV by creating awareness about the virus, its origin, and mode of transfer in human bodies. These organizations and NGOs distribute free condoms for men and women to promote awareness about sexual health, sexual wellbeing, and diseases that are transmitted sexually. These awareness campaigns will reduce the chances of STDs and HIV and promote the use of sexual wellness products in the global market.
Implementing Comprehensive Sex Education for Teenagers
The lack of awareness among teenagers leads to a high rate of transmission of STDs/STIs and unintended pregnancies. The probability of teenager engaging in unprotected sex was estimated to be 78% in 2010 with the same consistently falling to 60% after series of awareness programs and initiatives. The initiatives to launch sex education programs help creating awareness about contraceptives and other sexual wellness products that reduce the chances of STDs/STIs. Several countries across the world offer teenage sex education programs to make teenagers aware about their bodies, reproduction systems, STDs, and safe sexual intercourses. These initiatives will increase the sale of condoms and other products in the global sexual wellness market during the forecast period.
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Innovative Condom Designs
The introduction of innovative condom designs will contribute to the growth of the market share of these products in the global sexual wellness market. The evolution of condoms in terms of shape, size, thickness, flavors, structure, and material will encourage manufacturers to launch new product designs to attract a large consumer base. Anti-slippage, anti-breakage, fragrance infusion, and ultra-thin condoms are the most popular products that are available in the global market. The launch of graphene condoms, which are incredibly lightweight material, has a hexagonal structure, and forms a perfect fit is driving the demand in the non-latex condoms market segment. Innovations in female condoms will also contribute to the growth of market size in the sexual wellness market during the forecast period.
Ansell, Church & Dwight, Diamond Products, and Reckitt Benckiser are the leading vendors in the sexual wellness market.
The complete overview of the latest market research report on the sexual wellness 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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