Westford, USA, Oct. 03, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Sexual Wellness Market will attain the value of USD 29.75 Billion by 2031, with a CAGR of 4.7% during the forecast period (2024-2031). The sexual wellness market is witnessing phenomenal growth driven by increasing availability of sexual wellness products, increasing prevalence and acceptance of sexual health problems and changing public perceptions and increasing cultural changes primarily drives the market. There is also a strong focus on sexual health. However, factors such as the presence of huge socio-cultural biases, advertising restrictions, stringent legal challenges and regulation of marketing and sale of goods have restrained the market.
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- Tables - 37
- Figures – 74
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Sexual Wellness Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 21.57 Billion |
| Estimated Value by 2031 | USD 29.75 Billion |
| Growth Rate | Poised to grow at a CAGR of 4.7% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Distribution Channel and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growing Female Consumer Base |
| Key Market Drivers | Growing Awareness of Sexual Health |
Sexual Wellness Market Segmental Analysis
Global Sexual Wellness Market is segmented on the basis of product, distribution channel, and region.
By Product, the market is segmented into Sex Toys, Condoms, and Personal Lubricants.
By Distribution Channel, the market is segmented into E-commerce, Retailers, and Mass Merchandisers.
By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Sex Toys Segment to Dominate Due to Increasing Consumer Education
The sex toys segment held significant market share in the recent years and is expected to maintain its leading position during the forecast period owing to increasing adoption, wide range of products available in the market and increasing consumer education. This has essentially reduced stigma and encouraged customers to buy. Today, the market is filled with products, including inclusive and innovative sexual wellness products to meet the growing needs of consumers according to their moods and preferences. Heightened awareness of both sexual pleasure and well-being also influences phase development.
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Retailers Segment to Drive Market Due to Better In-store Experience
The retailer’s segment will hold a remarkable market share in the coming years owing to the better in-store experience, consumers' trust for different brands, easy availability, and supportive sales staff. Consumers are more driven to buy goods that have an established market presence, thus improving their confidence in product safety and quality. Buyers can also access products at the same time without need to wait for shipping and delivery to their doorstep. Segmental growth is also impacted by supportive staff that also helps consumers in buying the right product.
North America is Dominating Due to High Cultural Recognition
North America dominated the market in recent years and is expected to lead the forecast period owing to high cultural recognition, strong e-commerce infrastructure, diversity of products and health awareness. The region is more open to talking about sexual well-being and health. A strong e-commerce presence helps consumers to easily get the products they need at their fingertips. Regional growth also influences the availability of various products such as wellness supplements, lubricants, sex toys, and among others. Increased awareness of sexual health among residents is also influencing the development of the region. Key players mentioned in this category include Lifestyles Healthcare, Church & Dwight, Eli Lilly & Company, Lovehoney Group, Cooper Surgical Inc., and others.
Drivers
- Growing Awareness of Sexual Health
- Rise in E-commerce
- Rise in Online Retailing
Restraints
- Social Stigma and Cultural Barriers
- Regulatory and Legal Challenges
- Strict Regulatory Frameworks and Complex Legal Guidelines
Prominent Players in Sexual Wellness Market
- LifeStyles Healthcare (United States)
- Church & Dwight (United States)
- Doc Johnson Enterprises (United States)
- Lovehoney Group (United States)
- Veru Inc. (United States)
- AdvaCare Pharma (United States)
- CooperSurgical Inc. (United States)
- Eli Lilly and Company (United States)
- Endo International plc (United States)
- Pfizer Inc. (United States)
- TherapeuticsMD, Inc. (United States)
- Reckitt Benckiser Group plc (United Kingdom)
- LELO (Netherlands)
- Okamoto Industries Inc. (Japan)
- Karex Berhad (Malaysia)
- Humanwell Group (China)
- Mankind Pharma (India)
- Bayer AG (Germany)
- Besins Healthcare (France)
- KESSEL medintim GmbH (Germany)
- Organon (Netherlands)
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Key Questions Answered in Sexual Wellness Market Report
- How big is the global Sexual Wellness Market?
- What are the key restraints of the global Sexual Wellness Market size?
- Which is the dominating region in the global Sexual Wellness Market?
This report provides the following insights:
Analysis of key drivers (growing awareness of sexual health, rise in e-commerce, rise in online retailing), restraints (social stigma and cultural barriers, regulatory and legal challenges, strict regulatory frameworks and complex legal guidelines), opportunities (growing female consumer base, rising expansion into emerging markets) influencing the growth of Sexual Wellness Market.
- Market Dynamics: Comprehensive information about the various products offered by the dominant players in the Sexual Wellness Market.
- Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the Sexual Wellness Market.
- Market Growth: Detailed information on profitable growing industries.
- Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
- Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
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