Will APAC’s Growing Population Dominate the Global Sexual Wellness Market?
Arizton’s recent market research report on the global sexual wellness market identifies Lifestyles, Church & Dwight, Diamond Products, and Reckitt Benckiser Group as the leading vendors that are likely to dominate the market during the forecast period. This research report along with detailed competitive analysis provides a detailed analysis of market segmentation by product (sex toys, condoms, exotic lingerie, sexual lubricants, and others), by distribution type (retail and online), and by geography (APAC, North America, Europe, Latin America, and MEA).
The global sexual wellness market is anticipated to reach values of around $39 billion by 2024, growing at a CAGR of more than 7% during 2019-2024.
With end-users becoming more and more educated and the rapid technological advancements allowing them to explore the healthy aspects of their sexual life, the market for sexual wellness has started to achieve significant recognition across the world.
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The global sexual wellness market is divided into three major segments that consist of product type, distribution type, and geography.
Condom segment to grow at the fastest CAGR in the global sexual wellness market
The condoms segment is likely to account for a market share of over 30% by 2024. Condoms remain the most widely used contraceptive across the world. The world’s per capita usage of condoms is soon expected to grow to about 6 per year by 2022. The primary drivers of increased usage of condoms are birth control measures, prevention of transmission of STDs and STIs, and avoiding unsafe sex practices. The market for condoms is dominated by male condoms.
In terms of volume, the male condoms segment constituted almost the entire market in 2018.
Also, the global female condom market is witnessing rapid growth in the demand for female condoms across the globe. Condoms are no longer being sold only on the basis of functionality but with other factors such as innovation, advertising appeal, and distribution reach playing a major role equally. With an increased reach of technology and innovation, the number of contraceptives will not only rise but also the usage will increase.
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Retail segment sales dominated the global sexual wellness market during the forecast period
Sexual wellness products are mainly sold through retail distribution channels such as specialty stores, supermarkets, hypermarkets, mass-market players, drug stores or pharmacies, and grocery stores. These constitute over 60% of the sales in the condom market. The specialty stores sell sexual wellness products and are main shopping destinations for end-users. These are chain stores selling sex products and specialized/customized lingerie. A majority (about over 70%) of sexual wellness products that are supplied across the world are manufactured in China, Thailand, and Malaysia. The products are then exported from China to other countries where they are sold through various distribution channels. Sexual wellness product manufacturers harness sex specialty stores and supermarkets due to personalized customer services.
APAC is the largest growing segment in the global sexual wellness market
The market for sexual wellness products is witnessing high growth in regional markets such as India, China, Japan, and South Korea, and sexual wellness products are also gaining popularity among end-users. Japan and China account for the major market for sexual wellness products, countries such as India is expected to witness increased demand due to improving quality of life and increasing per capita disposable income. The countries such as Thailand, Vietnam, Malaysia, and Indonesia are also expected to witness increased demand due to improving quality of life and growing openness toward accepting sexual wellness products in these countries during the forecast period. The high urbanization rate in developing countries of APAC will bolster demand for sexual lubricants as people will be aware of the product and will have access to them in retail stores or drug stores. This is expected to develop the demand for sexual wellness products in the region during the forecast period. Advances in lifestyle coupled with rising consumer expenditure are likely to increase the penetration of sexual wellness products in APAC during the forecast period.
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Beate Uhse, Beijing Aimer, Bijoux Indiscrets, BILLY Boy, BioFilm, BMS Factory, Bodywise, B. Cumming, CalExotics, Calvin Klein, Convex Latex, Cosmo Lady, Cupid Limited, Doc Johnson, Eau Zone Oils & Fragrances, Embry, Empowered Products, Fuji Latex, Good Clean Love, Guy & O’Neill, Hathor Professional Skincare, HBM Group, HLL Lifecare Ltd., ID Lubricants, Innova Quality, Innovus Pharma, IXu, Karex Berhad, L Brands, La Maison Lejaby, La Perla, LELO, European Lingerie Group AB (ELG), Live Well Brands, Lovehoney Group, Mayor Laboratories, MD Science Lab, MTLC Latex, Orient Industry, PHE, pjur group, Sagami Rubber Industries, Sensuous Beauty, Shandong Ming Yuan Latex Co.,Shanghai Dahua Medical Apparatus/PATH, Silk Parasol, Sliquid, StaySafe Condoms (by AdvaCare Pharma), STRATA Various Product Design, Suki (OhMiBod), Tenga, Thai Nippon Rubber Industry (TNR), The Yes Yes Company, TianjinCondombao Medical Polyurethane Tech. Co., Topco Sales, Trigg Laboratories, Triumph, VeruHealthcare/The Female Health Company, XR, and Kaamastra are the other prominent vendors in the global sexual wellness market.
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The complete overview of the latest market research report on the global 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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