As per the newly released report by Future Market Insights (FMI), the global sexual wellness market is expected to be worth US$ 296,286.6 million in 2024 and US$ 981,047.8 million by 2034, it is anticipated to rise at a 12.7% CAGR in the evaluation period from 2024 to 2034.
The demand for sexual wellness products has seen a significant upsurge in recent years, driven by a combination of factors, including rising consumer awareness, evolving societal attitudes, and innovative product development. This growing awareness is fostering a more open and inclusive conversation about sexual health, breaking down long-standing taboos and stigmas.
As individuals become increasingly informed and proactive about their sexual well-being, they are actively seeking out products that can enhance their overall sexual experiences and address specific health concerns. Evolving societal attitudes are contributing to sexual wellness product demand.
A more sex-positive culture is emerging, leading to an accepting and inclusive environment where people feel comfortable discussing their sexual needs and preferences. As society becomes more understanding and accommodating, individuals are more inclined to explore and invest in sexual wellness products. This leads to improvements in their intimate relationships and quality of life.
Key manufacturers are constantly introducing new and improved sexual wellness products that cater to a wide range of needs and preferences. These innovations encompass a wide range of categories, including contraceptives, lubricants, sexual aids, and sexual health supplements. These products are designed to be safer, more effective, and user-friendly, addressing the specific concerns and desires of consumers, thereby enhancing the market expansion.
Key Takeaways from the Sexual Wellness Market Study-
- The global sexual wellness market witnessed a CAGR of around 12.3% in the historical period between 2019 and 2023.
- China is anticipated to rise at a CAGR of 10.6% in the global sexual wellness market during the forecast period.
- India is expected to surge at a CAGR of 13.4% in the global sexual wellness industry during the evaluation period.
- The United Kingdom is projected to register a decent CAGR of 10.5% during the forecast period.
- In terms of product type, the sex toy segment is set to record a robust CAGR of 12.6% throughout the estimated period.
Key Players
- LifeStyles Healthcare
- HLL Lifecare Limited (HLL)
- Church & Dwight
- Bijoux Indiscrets
- Reckitt Benckiser Group plc
- LELO
- Doc Johnson Enterprises
- Lovehoney Group
- Okamoto Industries Inc.
- Karex Berhad
- Humanwell Group
- Mankind Pharma
- Others (As per Request)
Renowned players in the worldwide market for sexual wellness products are actively concentrating on funding research and development. Their mission is to develop cutting-edge sexual wellness solutions that cater to a wide range of consumer preferences while remaining safe and effective.
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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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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