Number of pages: 100 | Report Format: PDF | Published date: April 10, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global sexual wellness market was valued at US$ 32.20 billion in 2022 and is expected to register a revenue CAGR of 7.85% to reach US$ 63.58 billion by 2031.
Sexual Wellness Market Fundamentals
Sexual wellness is described as a condition of physical, mental, emotional, and social well-being associated with sexuality. Sexual health demands a positive and respectful attitude towards sexual orientation and sexual relationships, as well as the ability to engage in pleasurable and safe sexual encounters devoid of prejudice, compulsion, and violence. The global sexual wellness market revenue has been expanding due to the increased prevalence of sexually transmitted illnesses such as HIV/AIDS, STIs, and others. Furthermore, one of the sexual wellness market trends boosting demand in the upcoming years is the rising media influence to increase awareness about sexual well-being.
Sexual Wellness Market Dynamics
Societal attitudes towards sexuality and sexual preferences are becoming more open and accepting, leading to increased demand for sexual wellness products and services. The LGBT population has contributed significantly to expanding the global sexual wellness market. The LGBT community's growing visibility and acceptance in recent years has resulted in a greater demand for sexual health goods and services that cater to their special requirements and preferences. For instance, several sexual wellness companies are starting to sell items such as lubricants, sex toys, and other sexual wellness aids specifically tailored to same-sex couples. Furthermore, rising demand for gender-affirming products, such as chest binders and packers, intended to assist transgender people. The LGBT community has also been instrumental in driving awareness around issues related to sexual health and wellness. Many LGBT organizations and advocacy groups have worked to promote sexual health education and encourage individuals to prioritize their sexual health. More people are becoming aware of the importance of sexual health and the role that sexual wellness products and services can play in promoting overall health and well-being.
Additionally, people are placing a greater emphasis on pleasure and sexual satisfaction, leading to increased demand for products that can enhance sexual pleasure and intimacy. The sexual wellness market has seen a proliferation of innovative products in recent years, including sex toys, lubricants, and sexual health supplements, that further fuel the market revenue growth. The rise of e-commerce and digital marketing has made it easier for consumers to access sexual wellness products and information, increasing awareness and demand. As economies in emerging markets continue to grow, there is increasing demand for sexual wellness products and services in these regions.
However, some restraining factors can lower the revenue growth of the global sexual wellness market. Despite changing attitudes towards sex and sexuality, significant stigma and cultural barriers can prevent some individuals from seeking sexual wellness products and services. This can be particularly true in more conservative regions or cultures. The sexual wellness market is largely unregulated, which can lead to concerns about product safety and quality. Consumers may hesitate to purchase sexual wellness products if unsure of their safety or efficacy. In some regions, there may be limited access to healthcare and sexual education, limiting awareness of sexual wellness products and services. Despite the growing acceptance of sexual wellness products and services, there are still taboos related to sexual wellness that can limit demand for these products.
Sexual Wellness Market Ecosystem
The global sexual wellness market is analyzed from three perspectives: products, distribution channels, and region.
Sexual Wellness Market by Products
Based on the products, the global sexual wellness market is segmented into sex toys, lubricants, condoms, and others.
The condoms segment registered for the largest revenue share in the global market in 2022. Condoms are a widely recognized and accessible form of contraception. They are often the primary choice for individuals looking to prevent sexually transmitted infections (STIs) and unintended pregnancies. Condoms are relatively low-cost contraceptives, making them accessible to many consumers. Condoms are widely available and easy to use, making them a popular choice for individuals looking for a simple and effective form of contraception. Condoms not only provide protection against STIs and unintended pregnancy but can also help prevent the transmission of other infections, such as HIV. Condoms are often considered to be a more environmentally sustainable form of contraception compared to other methods, such as hormonal birth control.
The sex toy market is expanding due to increased sex toy purchases and usage. Sex toys can help relieve menopausal symptoms such as vaginal atrophy, vaginal pain, and vaginismus. One unexpected benefit of sex toy use, according to research on menopausal women, was an improvement in sleep and menopause night sweats. Vibrating devices can provide various types of sexual stimulation, which may be beneficial in circumstances of decreased sexual feeling and low desire. Using sex toys to increase sexual pleasure and orgasm can help alleviate pain, sleep, stress, immunity, and cognitive function.
Sexual Wellness Market by Distribution Channel
Based on the distribution channel, the global sexual wellness market is segmented into retailers, e-commerce, mass merchandisers, and others.
E-commerce dominates the global market with the largest share. E-commerce offers the convenience of shopping from home, which many consumers find appealing when purchasing sexual wellness products. This is particularly true for individuals who may hesitate to shop for these products in person due to stigma or embarrassment. E-commerce also offers a high level of privacy when purchasing sexual wellness products. Consumers can make purchases discreetly and without fear of judgment or stigma. E-commerce platforms offer a wider range of sexual wellness products than traditional brick-and-mortar retailers, which can increase consumer choice and allow for more tailored purchases. Online retailers often offer competitive pricing compared to traditional brick-and-mortar stores, which can make sexual wellness products more affordable and accessible to consumers. E-commerce allows consumers to purchase sexual wellness products from anywhere in the world, increasing accessibility for individuals in remote or underserved areas.
Similarly, mass merchandisers account for the second-largest revenue share in the global market. Mass merchandisers such as supermarkets, drugstores, and discount stores have a large presence and are easily accessible to most consumers. This widespread availability makes it convenient for consumers to purchase sexual wellness products. Mass merchandisers often sell products at competitive prices due to their ability to purchase in bulk and low overhead costs. This pricing strategy appeals to price-sensitive consumers and can increase sales. The mainstreaming of sexual wellness products has led to an increase in consumers interested in purchasing these products. Mass merchandisers have contributed to this mainstreaming by offering sexual wellness products alongside other health and beauty products, making them more accessible to a wider audience. Many consumers prefer to purchase sexual wellness products discreetly.
Sexual Wellness Market by Region
Based on the region, the global sexual wellness market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominates the global sexual wellness market with the largest revenue share. Consumers in North America have a high level of awareness and interest in sexual wellness products and services, which has helped to drive demand for these products. North America has relatively liberal attitudes towards sexual wellness and sexuality, which has helped to create a more accepting market for sexual wellness products and services. North America has a strong retail infrastructure, with many major retailers carrying sexual wellness products. This has helped to increase the accessibility and availability of these products to consumers. North America has a relatively high disposable income, which has allowed consumers to spend more on sexual wellness products and services. Many of the leading sexual wellness companies are based in North America, and the region has been at the forefront of innovation and product development.
Over the last few years, there has been a gradual increase in the acceptance of sexual wellness products in European countries. This acceptance is driven by a shift in cultural attitudes towards sexual health and well-being and increased education and awareness campaigns. Many European countries have high disposable incomes, making them ideal markets for luxury sexual wellness products such as high-end vibrators, lubricants, and condoms. Consumers in these markets are more likely to spend money on high-quality sexual wellness products. Europe has a large and diverse consumer base, including a significant population of millennials and older adults who are more open to purchasing sexual wellness products.
Additionally, the LGBTQ+ community has a significant presence in Europe, and many sexual wellness products are marketed specifically to this group. Compared to other regions, European countries tend to have more liberal regulations, which allow for a wider variety of sexual wellness products to be sold legally. This has led to a proliferation of sexual wellness products and brands in European markets.
Competitive Landscape of the Global Sexual Wellness Market
The prominent players operating in the global sexual wellness market are:
Strategic Developments in Sexual Wellness Market
During the forecast period, the global sexual wellness market is expected to grow at a revenue CAGR of 7.85%.
Church & Dwight Co. Inc., LELO IAB, Reckitt Benckiser Group Plc., BioFilm IP LLC, WetLubes, and other notable players are a few key players in the global sexual wellness market.
The condoms segment accounts for the largest revenue share in the global sexual wellness market.
Asia Pacific region is expected to observe the largest global sexual wellness market grow during the forecast period.
The global sexual wellness market was valued at US$ 32.20 billion in 2022.
*Insights on financial performance are subject to the availability of information in the public domain