According to Acumen Research and Consulting, the global sexual wellness market size is expected to grow at a CAGR of 4.8% during the forecast period from 2022 to 2030 and reach the market size of USD 121.6 Billion by 2030, majorly supported by the growth from North America region.
ATLANTA, July 06, 2022 (GLOBE NEWSWIRE) — The global sexual wellness market size was valued at USD 80.1 Billion in 2021 and is estimated to reach the market size of USD 121.6 Billion by 2030, growing at a CAGR of 4.8% from 2022 to 2030.
The growing prevalence of sexually transmitted diseases is one of the important trends in the sexual wellness market fueling the demand all over the world. According to the World Health Organization (WHO) statistics, every day, over one million sexually transmitted infections (STIs) are diagnosed worldwide, large number of which are asymptomatic. The same statistics states that, each year, around 374 million people become infected with one of four STIs: chlamydia, syphilis, gonorrhoea, or trichomoniasis.STIs have a serious influence on sexual and reproductive health through stigma, cancers, infertility, and pregnancy problems, and they can also amplify the risk of HIV.As a result, rising awareness for safe sex and proper contraceptive use has rapidly altered the industry landscape, supporting the sexual wellness market revenue.
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Sexual Wellness Market Report Coverage:
|Report Attributes||Global Sexual Wellness Market|
|Sexual Wellness Market Size in 2021||USD 80.1 Billion|
|Sexual Wellness Market Forecast By 2030||USD 121.6 Billion|
|CAGR During 2022 – 2030||4.8%|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Product, By End-User, By Distribution Channel, By Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Adam & Eve Stores, California Exotic Novelties LLC, Bijoux
Indiscrets, Church & Dwight co., Caya, Doc Johnson Enterprises, Inc.,
Hot Octopuss, KarexBerhad, Reckitt Benckiser Group Plc, and TENGA Co., Ltd.
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis,
Player Profiling, Regulation Analysis
|Customization Scope||10 hrs of free customization and expert consultation|
Impact of COVID-19 Pandemic on Global Sexual Wellness Market Share
The COVID-19 pandemic has had a positive impact on the global sexual wellness market. The global spread of the coronavirus resulted in a lockdown and strictly limited movement in many parts of the world. During the pandemic’s spread and when the lockdown was forced, global governments issued advisories encouraging safe sex. It augmented the consumption for sexual wellness items. Due to a lack of community interactions and social life, more people are turning to products like vibrators and dildos to satisfy their sexual needs. It also increased the use of condoms in nearly every country around the world. It is advantageous for retailers to appeal to the masses that do not regard the products as taboo. Instead, they are items that consumers add to their shopping lists and frequently purchase on impulse. Due to the restrictions placed on stores and merchandisers during the COVID-19 pandemic, e-commerce became the only option for acquiring sexual wellness products. The pandemic has led to a significant increase in the use of e-commerce as a distribution platform for sexual wellness products.
Increasing Awareness Regarding Sexual Orientation And Sexual Relationships Is Fueling The Market Demand
Sexual wellness and reproduction are among the most popular topics for good reason. Sex education is important because adult content is readily available, and thus the government is intervening. The efforts of Global Health Organizations and other organizations to improve women’s health in many underdeveloped countries have positively impacted the market growth of sexual wellness products. Furthermore, the ease of online shopping as a result of increased internet usage via Smartphone’s and other smart devices has boosted revenues of sexual wellness products. Furthermore, the increased acceptance of the LGBT community, as well as the rights and legalization of gay marriages, drives the sexual wellness market share.
Physical pleasure and sexual needs, on the other hand, are not recognized, accepted, or encouraged in the majority of underdeveloped and developing countries. This factor could hinder the market from growing.
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Worldwide Sexual Wellness Market Segmentation
The global sexual wellness market has been segmented into product, end-user, distribution channel, and geography. Based on the product, the market is divided into male condoms, female contraceptives, sex toys, lubricants & sprays, and others. Among them, the sex toys segment achieved the maximum share in 2021.
By end-user, the market is categorized as men, women, and the LGBT community. Based on end-user, the men segment accounted for a significant market share in 2021. Besides, the LGBT community is likely to witness rapid growth throughout the forecast timeframe from 2022 to 2030.
Furthermore, the distribution channel segment is split into specialty stores, online stores, drug stores, and supermarkets & hypermarkets. The online stores will dominate the entire distribution channel segment during the forecasted years 2022 to 2030. Furthermore, the specialty segment also acquired a noteworthy market share in 2021.
Sexual Wellness Market Regional Overview
North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa are the regional classification of the global sexual wellness market. In 2021, the North America region gathered a substantial amount of share. The sexual wellness market is expected to grow rapidly in the coming years in the region because of the rising prevalence of sexually transmitted diseases (STDs) and HIV infection in the United States. In addition to that, increased government initiatives and non-governmental organizations (NGOs) promoting contraceptive use are expected to drive market growth. Europe, on the other hand, is expected to acquire a substantial market share in the coming 8 years. This is attributed to increased awareness and sex education initiatives, which are expected to play a significant role in increasing Europe’s sexual wellness market share.
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Sexual Wellness Market Players
Some sexual wellness companies covered globally include Adam & Eve Stores, Reckitt Benckiser Group Plc, Bijoux Indiscrets, Doc Johnson Enterprises, Inc., California Exotic Novelties LLC, Caya, Church & Dwight co., Hot Octopuss, Karex Berhad, and TENGA Co., Ltd.
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About Acumen Research and Consulting:
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
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