Wilmington, Delaware, Nov. 08, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Sexual Wellness Market by Product (Personal Lubricants, Sprays, and Condoms), by Distribution Channel (Specialty Stores, E-Commerce, FDM, and White Label): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global sexual wellness industry was valued at $19.7 billion in 2022 and is expected to hit $31.6 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032.
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Prime determinants of growth
The global sexual wellness market is driven by an increase in instances of AIDS/HIV and STIs, use of social marketing to promote products, and rise in R&D investments. However, reduction in sexual acts and restrictive awareness and accessibility to condoms hamper the market growth to some extent. Nevertheless, the market is expected to experience lucrative growth opportunities due to the rise in the millennial population and the surge in disposable income.
Report Coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023-2032 |
| Base Year | 2022 |
| Market Size in 2022 | $19.7 Billion |
| Market Size in 2032 | $31.6 Billion |
| CAGR | 4.9 % |
| No. of Pages in Report | 505 |
| Segment covered | Product, Distribution Channel, and Region |
| Drivers | Surge in instances of AIDS/HIV and STIs |
| Use of social marketing to promote products. | |
| Rise in R&D investments | |
| Opportunities | Rise in the millennial population |
| The surge in disposable income | |
| Restraints | Reduced sexual acts. |
The condoms segment to lead the market throughout the forecast period.
Based on product, the condom segment held the highest market share in 2022, contributing to more than two-thirds of the global sexual wellness market and is expected to lead throughout the forecast period. The growth in the use of condoms by sex workers and the millennial population to prevent unwanted pregnancy and STDs is expected to boost the demand for condoms. On the other hand, sprays is the fastest growing segment of the market in 2022 with a notable CAGR of 5.5% during the forecast period. Spray is a convenient choice for those who want a hassle-free experience. Sprays usually come in easy-to-use packaging with a spray nozzle that helps to apply them quickly and accurately.
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The FDM segment is to maintain its dominance by 2032
On the basis of distribution channel, the white label segment is estimated to showcase the fastest CAGR of 6.4% from 2023 to 2032. White-label retail allows retailers to have greater control over the branding and packaging of condoms and lubricants. They customize the products to align with their target audience and brand image. This flexibility in branding provides a competitive advantage by offering unique products in the market. By choosing white-label products, retailers avoid the costs associated with product development, manufacturing, and quality control. However, the FDM segment held the major share in 2022, generating more than two-thirds of the global sexual wellness market, and is estimated to maintain its leadership status throughout the forecast period. The FDM channel allows customers to find an array of products in one place, catering to their various needs and preferences. Customers find sexual wellness products in the same retail outlets where they shop for other everyday items, eliminating the need to visit specialized stores.
Asia-Pacific to garner the highest market share by 2031-
Based on region, the LAMEA region would cite the fastest CAGR of 5.5% throughout the forecast timeframe. There has been a notable increase in awareness and acceptance of sexual health and wellness in the LAMEA region. Growing awareness about safe and pleasurable sexual experiences has led to a higher demand for products such as lubricants, condoms, and sprays. The LAMEA region has witnessed evolving sociocultural factors, including changing attitudes toward sex and sexuality. However, Asia-Pacific region dominated with the highest market share in terms of revenue in 2022, contributing to more than one-third of the global sexual wellness market and is estimated to maintain its leadership status throughout the forecast period. Rapid expansion and rise in the adoption of e-commerce in emerging economies such as India and China have considerably driven people to purchase lubricant, condoms, and sex-enhancing sprays. Sex in India is taking a new and revolutionary shape, where people are openly talking about sex and sex-related activities through sex education, which is expected to influence the growth of the sexual wellness market in the region.
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Leading Market Players:
- Bijoux Indiscrets SL
- California Exotic Novelties
- Reckitt Benckiser Group PLC
- Doc Johnson Enterprises, Inc.
- Westridge Laboratories, Inc.
- Adam and Eve
- Wicked Sensual Care
- Tenga Co., Ltd.
- BioFilm, Inc.
- Kessel Medintim GmbH
- Church & Dwight Co., Inc.
- Karex Berhad
- Trigg Laboratories, Inc.
- CC Wellness
- Pjur Group Luxembourg S.A.
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