BANGALORE, India, Aug. 2, 2021 /PRNewswire/ -- The Sexual Wellness Market is Segmented by Product (Sex Toys, Male Condoms, Female Contraceptives, Lubricants & Sprays, and Others), End User (Men, Women, and LGBT community), and Distribution Channel (Specialty Stores, Drug Stores, Hypermarkets & Supermarkets, and Online Stores): Global Opportunity Analysis and Industry Forecast, 2021–2027. This report is published on Valuates Reports under Consumer Resources Category.
The sexual wellness market size was valued at USD 74,770.0 Million in 2019 and is estimated to reach USD 108,320.0 Million by 2027, registering a CAGR of 4.62% from 2021 to 2027.
In regard to sexuality, sexual well-being is a condition of physical, mental, and social well-being. The primary goal of sexual wellness products is to provide safe sex while also assisting in the enhancement of sexual pleasure.
Major factors driving the growth of the sexual wellness market are:
Increasing acceptance of sextoys amoung consumers is expected to drive the growth of the sexual wellness market. Sex toys benefits a reletationship that is founded on openess and mutual respect. Furthermore, it can boost a relationship and increase intimacy.
The rising prevalence of Sexually Transmitted Diseases, increasing concern about personal hygiene is expected to further boost the sexual wellness market.
The convenience of internet purchasing and e-commerce has further aided sales by delivering sexual wellness items discreetly. This in turn is expected to fuel the sexual wellness market growth.
The Sexual Wellness market is predicted to develop as government programs and non-governmental organizations (NGOs) promote the use of contraceptives.
The recognition of the LGBT population and its rights, as well as the legalization of gay marriages, are driving the expansion of the sexual wellness market.
TRENDS INFLUENCING THE GROWTH OF THE SEXUAL WELLNESS MARKET:
An increase in the number of Sexually Transmitted Diseases due to unprotected sex is expected to drive the sexual wellness market growth during the forecast period.
Increased preference for online shopping is expected to further provide lucrative growth of opportunity. Because they enable privacy and safeguard people's confidentiality, online stores have acquired substantial popularity in the global sexual wellness market. Furthermore, great discounts and door-to-door delivery have made online retailers popular among millennials
The Sexual Wellness market is predicted to grow as government programs and non-governmental organizations (NGOs) promote the use of contraceptives. Furthermore, the growing awareness about personal hygiene is also one of the factors boosting the market.
The recognition of the LGBT community and rights, as well as the legalization of homosexual weddings, are driving the growth of the sexual wellness market. Lubricants, delay sprays, and vibrators have become quite popular among the LGBT population. Several countries, including the United States, Sweden, the Netherlands, and many others in Europe, have implemented laws protecting LGBT people. The legal rights allow for same-sex marriages and legalized same-sex relationships, which is likely to fuel the expansion of the sexual health sector.
Based on product, the Sex Toys segment holds the major share of 40.0% in 2019. With or without a partner, sex toys can be enjoyed. This is mostly credited with propelling the sex toys market, which in turn fuels the expansion of the sexual wellness sector.
Based on the end-user segment, the Men segment held the major share of 45.0% in 2019. On the other hand, the women segment was valued at USD 30,475.7 Million in 2019 and is expected to grow to USD 42,872.0 Million by 2027, with a CAGR of 4.2%. The women's segment is growing due to an increase in the number of working women, gender neutrality, sex education, and sexual health awareness.
Based on the distribution channel, the Online segment held the major share of 29.9% in 2019.
Based on region, the North America region holds the highest market share of 51.2% in 2019. Improvisation and innovation in the sex toys and condoms markets are driving the growth of the sexual wellness market in North America.
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