Sexual Wellness Market Size is Expected to Reach USD 64.34 billion by 2031, Growing at a CAGR of 7.63%: Straits Research

The key global sexual wellness market players are LifeStyles, Reckitt Benckiser, Diamond Products, Church & Dwight, Innova Quality, STRATA Various Product Design, Okamoto, Reckitt Benckiser, Herfindahl-Hirschman Index, Durex, Silk Parasol, Insight Products, IXu, Shandong Ming Yuan Latex, StaySafe Condoms, and many others.

New York, United States, April 24, 2024 (GLOBE NEWSWIRE) -- Sexual wellness is an approach toward sexual health that promotes human sexual well-being. Sexual wellness products concentrate on enhancing end-users sexual experiences and evaluating their sexual health. These items include condoms, sexual lubricants, sensual lingerie, sex toys, exotic costumes, herbal supplements, and other similar items. They are also known to increase sexual pleasure and add an element of excitement to sexual encounters. A healthy sexual life significantly impacts an individual's overall health. Sexual wellness encompasses physical, emotional, and mental health. The ability of a person to have satisfying and safe sexual experiences is only one crucial aspect of sexual wellness.

Sex Education Programs Driving Awareness Drives the Global Market

Due to their significant hormonal changes and sexual activity, 17–19-year-old adolescents represent a potential customer base. Teenage sexual activity can lead to unintended pregnancies and the spread of STIs and STDs. In 2019, the adolescent fertility rate, defined as births per 1,000 women aged 15 to 19, was approximately 40. However, this number decreases annually at a slow and consistent rate. The decline is primarily attributable to an increased awareness of contraceptives and their accessibility. In order to prevent unintended pregnancies and reduce the teen pregnancy rate, the use of birth control and post-conception contraceptives has increased dramatically in recent years. Moreover, sex education is a significant factor influencing the use of contraceptives, including condoms, among adolescents.

Growing Penetration of Digital Marketplaces Creates Tremendous Opportunities

Digitalizing their sales strategies is one of the most significant growth opportunities for sexual wellness market vendors. The market for sexual wellness is dominated by customers who prefer to make purchases through online channels. For example, more than 25 percent of sexual wellness products sold in the United States are through online channels, with being the most preferred website among those offering such products. With high internet penetration rates, the availability of smartphones and laptops, and most importantly, the number of online platforms for customers to choose from, the number of online platforms for customers to choose from has increased dramatically. The ability to make purchases anonymously is a significant factor in the expansion of online retail. In addition, customers can look to provide reviews, read those provided by others, and learn about the product's usage, benefits, and lifespan, which is not readily possible in a retail store or other offline channels.

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Regional Analysis

Asia-Pacific is the most significant global sexual wellness market shareholder and is anticipated to exhibit a CAGR of 7.31% during the forecast period. Asia-Pacific has the potential to account for a significant portion of the sexual wellness market, as it presents numerous opportunities for new and established vendors. Numerous products, including condoms, erotic lingerie, and sex toys, are supported by the global cumulative environment. In addition, key nations in the Asia-Pacific region, such as China, Japan, and Singapore, have established economies, providing customers with greater purchasing power. Asia-Pacific has the highest rate of urbanization among all other regions. While Japan and China are the largest markets for sexual wellness products, improved quality of life and disposable income per capita are expected to increase demand in countries like India. Further, high levels of conservatism characterize Asia-Pacific countries, but there is a growing awareness and acceptance of the concept of sexual pleasure due to global exposure and attitude shifts.

Europe is anticipated to exhibit a CAGR of 7.41% over the forecast period. With the increase in consumer spending since the 2008-2009 economic recession and the 2011-2012 Eurozone debt crisis, the outlook for the sexual wellness market has improved in many European nations. In addition, sexual wellness products are becoming mainstream, resulting in a high adoption rate among European end users. Europeans are more likely than Americans to use birth control, and approximately 84% of European women use contraceptives in some form. The high rates of contraception use among women are attributable to easy access to birth control and improved reproductive health education and information. The intrauterine device (IUD) is the most popular contraceptive method, followed by condoms and pills. These factors contribute to the expansion of the regional market.

Key Highlights

  • The global sexual wellness market was valued at USD 33.20 billion in 2022. It is estimated to reach USD 64.34 billion by 2031, growing at a CAGR of 7.63% during the forecast period (2023–2031).
  • Based on product, the global sexual wellness market is divided into sex toys, condoms, exotic lingerie, sexual lubricants, and others. The sex toys segment is responsible for the largest market share and is anticipated to grow at a CAGR of 6.75% over the forecast period.
  • Based on distribution channels, the global sexual wellness market is segmented into offline and online channels. The offline segment owns the highest market share and is expected to exhibit a CAGR of 7.10% during the forecast period.
  • Based on gender, the global sexual wellness market is segmented into males and females. The male segment dominates the global market and is estimated to exhibit a CAGR of 7.20% over the forecast period.
  • Asia-Pacific is the most significant global sexual wellness market shareholder and is anticipated to exhibit a CAGR of 7.31% during the forecast period.

Market News

  • In October 2022, Morari, a pioneering sexual health and wellness firm, announced the start of an equity-based community round campaign through the funding platform Wefunder to finish product development, obtain regulatory approval, and prepare the introduction of its breakthrough Mor patch.
  • In June 2022, KamaSutra, one of India'sIndia's most prominent sexual wellness brands, introduced the nation's first NFTs. As a pioneering brand known for introducing the concept of sex as a pleasure to India, it has partnered with Bobble AI to debut its six distinct NFTs as part of its sexual health campaign.

Global Sexual Wellness Market: Segmentation

By Product

  • Sex Toys
  • Condoms
  • Exotic Lingerie
  • Sexual Lubricants
  • Others

By Distribution Channel

  • Offline
  • Online

By Gender

  • Male
  • Female

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • The Middle East and Africa

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About Straits Research Pvt. Ltd.

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