Sexual Wellness Market Growing at a CAGR of 6.6% by 2028 | COVID-19 Impact and Global Analysis by The Insight Partners

Sexual Wellness Market to Grow at a CAGR of 6.6% to reach US$ 81,394.49 million from 2021 to 2028

NEW YORK, UNITED STATES, December 7, 2021 /EINPresswire.com/ -- According to The Insight Partners latest study on “Sexual Wellness Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Pharmaceutical Product, Non-Pharmaceutical Product, and Distribution Channel,” The report highlights the key factors driving the market growth and prominent players with their developments in the market. The growth of the sexual wellness market is primarily attributed to the changing perception toward the use of sexual wellness products and increasing investments by market players. However, the availability of a small clientele in low-income countries hinders the market growth.

Strategic Insights

Report Coverage (Details)
Market Size Value in - US$ 51,924.43 million in 2021
Market Size Value by - US$ 81,394.49 million by 2028
Growth rate - CAGR of 6.6% from 2021 to 2028
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages - 168
No. Tables - 84
No. of Charts & Figures - 75
Historical data available - Yes
Segments covered - Pharmaceutical Product, Non-Pharmaceutical Product and Distribution Channel
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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The growth of the market is attributed to the changing perception toward the use of sexual wellness products, and increasing investments by market players. However, the small clientele in low-income countries restrains the sexual wellness market growth. Sexual wellness is determined by the combination of a physical condition, mental state, and social wellbeing that is related to sexuality. The growing awareness about sexual wellness inspires a positive and respectful approach to sexuality and sexual relationships. Sexual wellness plays a critical role in physical and emotional health.

Changing Perception Toward Use of Sexual Wellness Products Fuels Sexual Wellness Market Growth

The diminishment of taboos related to sexual health and pleasure is opening a vast market for the established brands offering a wide variety of products such as toys and personal lubricants. Growing concerns regarding personal hygiene, rise in focus in attractive and informative branding, increasing emphasis on awareness campaigns, and widespread openness about sexual fantasies are the significant factors driving the sexual wellness market growth. Major sexual wellness brands are experiencing lucrative demand for sex toys from both men and women. Also, online shopping has further enhanced sales as these platforms allow customers to purchase products such as sex toys, lubricants, and condoms without letting multiple people know. Many new players are entering into the sexual wellness market due to the substantial potential. For instance, Urja BEAUTY, a skincare brand, offers a collection of luxe vulva care products. Urja Intimates, a premium vulva and vagina care range that consists of Vibrant V pH-balanced personal wash, intense hydrating lubricant, and Vibrant V moisturizing silky-serum.

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.

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In Asia pacific, the demand for condoms has increased, while the desire for sex toys and other things has decreased temporarily. People all around the world, however, have begun to rely on sex toys and vibrators to meet their sexual needs. Governments all over the world are encouraging people to have safe sex during the pandemic. Moreover, the pandemic-led adversities have affected the business operations of the various sexual wellness market players.

Based on pharmaceutical product, the sexual wellness market is segmented into capsules, tablets, oral liquids, and sprays. The capsules segment is projected to hold the largest share of the market in 2021 and is anticipated to register the highest CAGR during 2021–2028. The ingredients of capsules are safely contained inside and exact dosage can be created. Also, they are absorbed better than tablets, easy to swallow, and contribute less to stomach upset.

Based on non-pharmaceutical product, the sexual wellness market is segmented into sex toys, condoms, intrauterine devices, contraceptive implants, and others. The sex toys segment is projected to hold the largest share of the market in 2021 and is anticipated to register the highest CAGR in the market during the forecast period.

Sexual Wellness Market: Competitive Landscape and Key Developments

Reckitt Benckiser Group Plc; Lovehoney Group Ltd.; LELO; Topco Sales; Church & Dwight, Inc.; TENGA Co., Ltd.; LIFESTYLES HEALTHCARE PTE LTD; FUN FACTORY GmbH; HLL Lifecare Limited; Bayer AG are a few leading companies operating in the sexual wellness market.

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Based on distribution channel, the sexual wellness market is segmented into retail pharmacies, online distribution, and hospitals pharmacies. The retail pharmacies segment projected to hold the larger share of the market in 2021 and is estimated to register the highest CAGR during the forecast period.

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Sexual Wellness Market is Growing at a CAGR of 6.6% | The Insight Partners