Sexual Wellness Market

Sexual Wellness Market Size (2023 to 2028)

The global sexual wellness market is forecasted to grow at a CAGR of 9.4% between 2023 to 2028 and be worth USD 44.23 billion by 2028 from USD 28.22 billion in 2023. 

Sexual Wellness Market Share Insights:

• The U.S. accounted for the most significant global market share in 2021.
• The sexual wellness market in North America was worth USD 8.07 billion in 2021.
• The European sexual wellness market is anticipated to reach USD 11.7 billion by 2027.
• The Asia-Pacific region is estimated to grow at a CAGR of 11.38% from 2022 to 2027.

Sexual wellness means attaining physical, mental, and sexual prosperity. The primary purpose of sexual wellness products is to provide safe sex and, at the same time, help to enhance sexual pleasure. The state of physical, mental, and social well-being concerning sexuality is sexual wellness. The products associated with sexual health are to provide safe sex along with developing sexual pleasure. The NYC Health Department endorses masturbation as the safest sexual activity to decrease contact with others and prevent COVID-19 from spreading. Countries such as the U.K., China, the U.S., Japan, and Germany strongly demand sexual wellness products from online retailers.

MARKET DRIVERS:

The rising awareness regarding sexual wellness among the population is primarily accelerating the global sexual wellness market growth.

Global Health Organizations and other organizations' efforts for bettering women's health in many underprivileged countries have positively contributed to the market growth of sexual wellness products, especially sex toys. The rising prevalence of sexually transmitted diseases and HIV and the need to prevent these diseases propel the market growth during the forecast period. Furthermore, the ease of online shopping due to the increasing usage of the internet through smartphones and other smart devices has increased sales of sexual wellness products. In addition, the rise in acceptance of the LGBT community and the rights and legalization of gay marriages propel the sexual wellness market. Growing awareness among people is likely to boost market growth.  

YOY growth in the number of customers using various sex toys for developing sexual experiences and growing awareness regarding sexual health products accelerates the growth rate of the global sexual wellness market.

With the increasing incidences of AIDS/HIV and other sexually transmitted diseases, introducing the latest sex toys worldwide and growing familiarity with sex toys in developing countries such as China, India, and Brazil are expected to boost the global sexual wellness market. In addition, rising awareness in people through digital advertisements and sexual wellness products such as contraceptives and other vibrators are gaining more popularity in the recent past.

With the increased presence of deep-rooted market players, the key players focus on new product offerings with rising developed and secured devices for various physical activities propel the market growth. In addition, the increasing concern regarding personal hygiene and the easy availability of low-cost products at the stores providing significant discounts are favorable signals to the market to grow further.

Moreover, female contraceptives have gained popularity among women as they offer many advantages, such as avoiding sexually transmitted diseases and unwanted pregnancies. For instance, in 2018, ONE, a condom manufacturing company, introduced UltraFeel condoms and combined a 2ml lubricant pouch in the same package. The key market participants are playing a promising role in this non-commercial sector of condom distribution. Increasing the significance of customers regarding their online and digital purchases is expected to enhance market growth. 

MARKET RESTRAINTS:

The key factor affecting the growth of the sexual wellness market is the reservations and societal hindrances associated with sexual wellness products.

The lack of awareness among people regarding these products' benefits is the leading cause of reservations and social hindrances. Sexual products and business is seen as taboo in many cultures, and therefore personal reservations and prejudice against these products can cause losses for the market. In addition, harmful chemicals in these sexual wellness products can be dangerous to the body and is a significantly restricting factor. The accessibility of substitutes for condoms is also a negatively impacting factor. Latex condoms can result in infections leading to hesitance toward their use. 

Impact of COVID-19 on the global sexual wellness market:

COVID-19 has positively impacted the sexual wellness market globally. The coronavirus prevalence over the globe resulted in a lockdown and restricted movement in most areas worldwide. It increased the demand for sexual wellness products. The lack of social gatherings and social life resulted in more people using products like vibrators to satisfy themselves sexually. The lack of outside movement resulted in an increase in the usage of condoms in almost all parts of the world. The increasing government initiatives about improving women have impacted more people in lockdown than in normal circumstances. The surge in the usage of smartphones and the internet resulted in shopping at online sites at a considerable level, thus increasing the revenue of sexual wellness products.

REPORT COVERAGE:

This research report on the global sexual wellness market has been segmented and sub-segmented into the following categories.

Sexual Wellness Market – By Product:

• Contraceptives
• Condoms
• Sex toys
• Lubricants
• Sexual enhancement supplements
• Others

Based on the product, sex toys dominated the global sexual wellness market in 2022 and are expected to grow fastest among all other sub-segments during the forecast period. The social stigma regarding sex toys is fading away, with more people being educated and increasing awareness due to various initiatives. As a result, it has increased the sale of sex toys. Furthermore, initiatives such as sex-positive movements help break the stereotypes of age, gender, and social construct and positively impact the sex toys sub-segment. In addition, the increase in the usage of e-commerce sites is also responsible for driving the market growth.

The lubricant sub-segment is expected to grow at the fastest rate among all others. Aging often leads to many changes in the body, like vaginal dryness and erectile dysfunction, and can decrease the intimacy between partners. Chronic pains and an unhealthy lifestyle can also lead to the same problems. The use of lubricants can solve this problem. These lubricants are available at low prices and are compatible with condoms and other sexual wellness products, such as vibrators. The most common lubricants used are water lubricants.

The increased acceptance of sexual minorities like the LGBTQ community or gay community has promoted vibrators and other sexual wellness products.

Sexual enhancement supplies are expected to grow at a promising rate during the forecast period. The prevalence of an unhealthy lifestyle can lead to many diseases, stress, and depression, thus decreasing the sexual power of a person. Therefore, it has led to increasing the usage of enhancement supplies.

Sexual Wellness Market – By Distribution Channel:

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy

Based on the distribution channel, the retail pharmacy had the largest market in 2022 and is expected to grow at a vibrant rate. The increase in awareness among people regarding sexual wellness products has improved the revenue share of this sub-segment. Therefore, a better distribution channel is the main factor in improving the growth rate.

The Online Pharmacy segment is expected to grow the fastest during the forecast period. The increased internet usage and the growing demand for these products will help boost this sub-segment. In addition, the availability of many substitutes and better discounts has positively impacted the growth rate.

Sexual Wellness Market – By Region: 

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

Geographically, North America had the largest market share in 2022, and this region's growth trend is expected to continue throughout the forecast period. The increased awareness regarding sexually transmitted diseases has improved the region's growth rate. In addition, the improvement of online stores will further drive market growth. The U.S. sexual wellness market accounted for a significant share of this region and was valued at USD 9.98 billion in 2021. The Canadian market is also projected to register a healthy CAGR from 2022 to 2027 in this region, which makes this region show greater dominance in the global market for sexual wellness. 

The European region had the second-largest share of the global sexual wellness market in 2022 and is expected to have a prominent growth rate during the forecast period. Increased awareness due to more initiatives and better education is responsible for the expected positive growth rate. During the forest period, European countries such UK, Germany, Spain, France, and Italy are predicted to showcase healthy growth.

The Asia Pacific region is expected to grow at the fastest rate of all the regions in the coming future. The high population in India and China has boosted the sexual wellness products market. Sex toys increasing popularity is the main constituent having a high growth rate. In addition, an increase in patient population and advancement in healthcare facilities are also fueling the market's growth in the Asia Pacific.

KEY MARKET PARTICIPANTS:

Some of the most promising companies playing a leading role in the global sexual wellness market profiled in this report are Church & Dwight co., Inc., Reckitt Benckiser Group plc, Doc Johnson Enterprises, Karex Berhad, TENGA Co., Ltd., Hot Octopuss, Caya, California Exotic Novelties LLC, Bijoux Indiscrets, and Adam & Eve Stores.

RECENT HAPPENINGS IN THIS MARKET:

• In November 2022, the sexual health section of CVS is getting a makeover. Bright bottles of lubricants with playful names like Tush Cush or So-Low Lotion are now available alongside condom boxes, pregnancy tests, and vaginal hygiene items in packaging that hasn't been updated since the early 1990s. Only a small portion of the lubricants produced by Cake, a two-year-old sex health firm that started as a niche, direct-to-consumer brand and is now found in one of the biggest drug shops in the nation, include Tush Cush and So-Low Lotion.
• In November 2022, through alternative treatments, Love Pharma assists customers in achieving mental and sexual wellness. To address this expanding demand and raise the standard of living, Love Pharma Inc. is releasing cutting-edge goods on the market. The Vancouver-based company aims to improve sexual and mental wellness through its science-backed nutraceuticals and therapeutics, with a focus on existing and emerging disruptive technologies.
• In November 2022, the CDSCO approved the sale of Jupiter Health, Inc.'s Photocil product, which is sold in India under the name PhotoFirst, which treats hair loss, dermatitis, burns, and sexual wellness. India's National Regulatory Authority (NRA) is the Central Drugs Standard Control Organization (CDSCO), which is a part of the Ministry of Health & Family Welfare's Directorate General of Health Services.
• In September 2022, after securing $7 million in additional Series A funding, the sexual wellness startup Dame Products is aiming audiences at a new price point. The Dip vibrator, which the New York-based company will introduce on October 12 as "an unintimidating, inclusive entry point to pleasure for people who are in the early stages of their sexual wellness journey," will be available. Priced at $49, Dip is about $50 less expensive than comparable Dame goods.