In 2021, the market for sex technology and sexual wellness was estimated to be worth $400 million. The market is anticipated to reach a valuation of over US$ 2.8 Bn by the end of 2032 with a CAGR of 18.9% over the following ten years.
Sexual health is closely linked to reproductive health and with the emergence of HIV and AIDS, plus the increasing incidence of STIs, sexual wellness is gaining prominence globally.
Also, growing public health concerns about sexual dysfunction, issues relating to sexuality and the implications for health and well-being have become more important, so influencing a global demand for sexual wellness.
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A key conceptual element being, sexual wellness is about well-being, not merely the absence of disease. Sexual wellness implies the attainment of physical, mental, and sexual prosperity by individuals.
A number of items as sex toys, attractive lingerie, condoms and contraceptives, individual ointments, and others of the likes of testing cards and pregnancy testing units, sexual improvement supplements, and vaginal sexual wellbeing items, are categorized as sexual health wellness items.
A number of traditional retailers have been updating their sexual wellness sections to include not just family planning and contraceptive products, but also sex toys, devices, lubricants and other items that consumers might preferably buy online or other retailers.
It is to be noted that the products available at food, drug and mass retailers tend to be lower priced when compared to those in adult novelty stores, with more discreet packaging and profound importance on self-care and enjoyment.
Global Sexual Wellness Market: Market Dynamics
Drivers for Sexual Wellness Market
Sexually transmitted infections are on the rise, which is a worrisome fact. In 2018, the number of bacterial sexually transmitted infections (STIs) reported in the United States reached an all-time high. While condoms can prevent transmission of most STIs, many people of all ages and genders, do not use them.
The growing incidence of Sexually Transmitted Diseases (STDs) and HIV infection worldwide is likely to boost the growth of the market. Moreover, initiatives taken by the government and NGO’s to promote the use of contraceptives are expected to give significant sexual wellness market growth.
The increasing awareness about sexually transmitted diseases and increased sexual activity in teenagers in North America are likely to remain the major drivers for sexual health products in the Americas over the forecast period.
Growing concern of personal hygiene is also one of the factors driving the market. Retailers outside lifestyle and traditional beauty brands are buying into products promoting sexual health and pleasure, giving them equal weightage as for physical and emotional well-being.
Trends for Sexual Wellness Market
Covid-19 lockdown has brought the global economy to a standstill, however, for producers and purveyors of condoms and sex toys, the business is booming.
For the retailers it is convenient to attract an audience that does not consider the products as a taboo. Instead, they are something consumers are adding to their shopping lists, and often picking up as impulse buys.
The presence of sexual wellness products within fast fashion retailers is a great example of how businesses are introducing the category to the younger generation. Millennial are the new driving force in sexual wellness; Fun products that appeal to them are the fastest rising segment of the category.
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Opportunities for Sexual Wellness Market
Attitudes towards sex and sexual health are shifting, and hence, personal and intimate care products are shaping up to be the next big opportunity. The transition of self-care items from a luxury to a necessity has been integral to the influx of sexual wellness products in the market.
Not just restricted to toys and lubricants, items falling under this umbrella combine enjoyment with wellbeing, catering to personal care, menstruation and masturbation.
Female sexual wellness caters to the retailers as a huge business opportunity. For most, this opportunity is still untapped. Retailers need to rise to the occasion and provide the right offer to the target consumer- women.
Flavored lubricants are a segment that hold immense potential for the retailers to be able to increase sales in the sexual wellness category. For example, on a shelf crowded with a variety of standard personal lubricants, the flavored formulas and arousal gels are receiving an overwhelmingly positive response from buyers and consumers.
Challenges for Sexual Wellness Market
Sex remains as one of the biggest taboo topics in open debates in the Indian society, and sexual wellness is sifted away due to lack of seriousness. Despite numerous startups and vertical ecommerce portals addressing the sexual wellness market in India, the taboo still stands tall.
Condoms can trigger a latex allergy. The symptoms of latex allergy can vary in presentation and severity, in certain instances, latex allergies can invoke anaphylaxis, a life-threatening condition.
It is well advised for people who have latex allergy to switch to synthetic condoms. The reason for the issues is claimed to be the talc, a dry lubricant that is used on the surface of condoms. Various research studies have linked talc to ovarian cancer and to fibrosis on fallopian tubes, thus making the woman infertile.
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Global Sexual Wellness Market: Key Players
Market giant Unbound has diminished the lines of sex tech and fashion, specializing in wearable toys as well as lubricants and stimulation serums. A number of sexual health items have been gendered, and Maude has tapped into the opportunity of unisex wellness.
The brand, started by Everlane alumna, stocks high quality vibrators, condoms, massage candles and scrubs all with simple and modern packaging. The company Perfect V has revolutionized the market with its ‘Vanicure’ kit, including a vaginal luminizer. While Fur, which offers an intimate ingrown hair concentrate, is also recognized as a cult brand in this space.
Sexual Wellness Market: Regional Outlook
Covid-19 lockdown has turned into an advantage for the sexual wellness market in India. The sex product market of the nation has witnessed a 65 percent rise in sales amid the post lockdown phase, moving beyond the several hurdles.
In the United States, sexual wellness market is anticipated to exhibit lucrative growth in the coming years due to the rising prevalence of Sexually Transmitted Diseases (STDs) and HIV infection. Increasing government initiatives and NGOs participating in promoting the use of contraceptives is expected to boost the market growth.
The increasing childbearing population of women in the U.S. and also the ease of online shopping and e-commerce are expected to further facilitate the sales of sexual wellness products.
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Sexual Wellness Market: Market Segmentation
Basis of type:
- Sex Toys
- Condoms
- Sexual Lubricants
- Lingerie
- Others
Basis of sales channel:
- Wholesalers/Distributors
- Online Retailers
- Specialty Stores
- Supermarkets/ Hypermarkets
- Other Sales Channels
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