Sexual Wellness Market to Reach .5 billion, Globally, by 2033 at 4.7% CAGR: Allied Market Research
Sexual Wellness Market to Reach .5 billion, Globally, by 2033 at 4.7% CAGR: Allied Market Research

Surge in instances of AIDS/HIV & STIs, use of social marketing to promote products, and rise in R&D investments are factors that boost the growth of sexual wellness market.

WILMINGTON, Del., May 8, 2024  /PRNewswire/ — Allied Market Research published a report, titled, Sexual Wellness Market by Product (Personal Lubricants, Sprays, and Condoms) and Distribution channel (Specialty Stores, E-Commerce, FDM, and White Label): Global Opportunity Analysis and Industry Forecast, 2024-2033″. According to the report, the “sexual wellness market” was valued at $20.6 billion in 2023, and is estimated to reach $32.5 billion by 2033, growing at a CAGR of 4.7% from 2024 to 2033.

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Prime determinants of growth

Health and wellness trends play a pivotal role in driving the growth of the sexual wellness market by fostering a culture of self-care and holistic well-being. As individuals increasingly prioritize their physical, mental, and emotional health, they seek products and services that address all aspects of their well-being, including sexual health. This shift in consumer mindset has led to a surge in demand for sexual wellness products that are perceived as natural, safe, and beneficial for overall health.

On the other hand, social marketing is a type of intervention in which sexual wellness product brands are marketed with a promotional campaign and sold to a specific target population. This platform is majorly used to brand condoms to promote their use and spread awareness regarding STDs. In addition, there are many other approaches, which include public/ free and private distribution of condoms that boost market growth. Social marketing has gained significant popularity in developing countries such as China and India for branding and sales of condoms.

Report Coverage & details:

 

Report Coverage

 

 

Details

 

 

Forecast Period

 

 

2023-2033

 

 

Base Year

 

 

2023

 

 

Market Size in 2021

 

 

$20.6 billion

 

 

Market Size in 2031

 

 

$32.5 billion

 

 

CAGR

 

 

4.7 %

 

 

No. of Pages in Report

 

 

325

 

 

Segment covered

 

 

Product, Distribution Channel, and Region

 

 

Drivers

 

 

Surge in instances of AIDS/HIV and STIs

 

Use of social marketing to promote products

 

Rise in R&D investments

 

 

Opportunities

 

 

Rise in the millennial population

 

The surge in disposable income

 

 

Restraints

 

 

Reduced sexual acts

 

Restrictive awareness and accessibility to condoms

 

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Sprays segment to maintain its leadership status throughout the forecast period

By product, the condoms segment held the major share of the market in 2023, accounting for more than two-thirds of the global sexual wellness market, and is estimated to maintain its leadership status throughout the forecast period. Condoms are widely recognized as an effective method of preventing the transmission of STIs, including HIV/AIDS, gonorrhea, chlamydia, and syphilis. In addition, condoms serve as a barrier contraceptive method that helps reduce the risk of unintended pregnancies. Public health campaigns, educational initiatives, and advocacy efforts that promote safe sex practices emphasize the importance of condom use, driving the demand for condoms.

Sprays segment is the fastest growing segment of the market in 2023. Spray is a convenient choice for those who want a hassle-free experience. It also gives better control over how much and where you apply the product, making it more satisfying to use. Moreover, the demand for sprays designed for hygiene and freshness purposes is driven by the desire for cleanliness and confidence.

FDM segment to retain its dominance by 2033

By distribution channel, the FDM segment held the major share of the market in 2023, accounting for more than two-thirds of the global sexual wellness market, and is estimated to maintain its leadership status throughout the forecast period. The availability of sexual wellness products in grocery stores, drugstores, and mass merchandise outlets makes them easily accessible to a broad customer base. This convenience factor drives the demand for sexual wellness products in the FDM sector. FDM retailers have established trust and familiarity with consumers over the years. People often prefer to shop for personal care and health-related products from these trusted sources.

White label is the fastest-growing segment of the market in 2023. White-label retail allows retailers to have greater control over the branding and packaging of condoms and lubricants. They customize the products to align with their target audience and brand image. This flexibility in branding provides a competitive advantage by offering unique products in the market. By choosing white-label products, retailers avoid the costs associated with product development, manufacturing, and quality control. 

Asia-Pacific to maintain its dominance by 2033

By region, the Asia-Pacific region held the highest market share in terms of revenue in 2023, accounting for more than one-third of the global sexual wellness market. Global brands strive among themselves to deliver better value propositions and effective marketing strategies. Asia-Pacific is projected to grow at the highest CAGR, owing to urbanization and exposure to Western influences have played a significant role in shaping attitudes toward sexual wellness in the Asia-Pacific region. As people migrate to urban centers and engage with global trends, there is greater exposure to Western sexual norms and practices.

Latin America is the fastest-growing region of the market in 2023. In addition, there has been a notable increase in awareness and acceptance of sexual health and wellness in the Latin America region. Growing awareness about safe and pleasurable sexual experiences has led to a higher demand for products such as lubricants, condoms, and sprays. The Latin America region has witnessed evolving sociocultural factors, including changing attitudes toward sex and sexuality. As societies become more progressive and open-minded, the demand for sexual wellness products has risen.  

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Leading Market Players

  • Adam and Eve
  • Pjur Group Luxembourg S.A.
  • Doc Johnson Enterprises, Inc.
  • California Exotic Novelties
  • Karex Berhad
  • Bijoux Indiscrets SL
  • BioFilm, Inc.
  • Wicked Sensual Care
  • Westridge Laboratories, Inc.
  • Church & Dwight Co., Inc.
  • Reckitt Benckiser Group PLC
  • Tenga Co., Ltd.
  • Kessel Medintim GmbH
  • CC Wellness

The report analyzes these key players in the global sexual wellness market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.

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SOURCE Allied Market Research

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