Growing Prevalence of STDs to Drive the Global Sexual Wellness Market
Sexual Wellness Market Overview
Sexual wellness market is expected to grow significantly over the forecast period. It is anticipated to reach USD 39.5 Billion and is projected to grow at a CAGR of 4.60% By 2027.
Sexual Wellness Market Dynamics
The growth of the sexual wellness market is predicted to be fueled by factors such as rising global prevalence of Sexually Transmitted Diseases (STDs), increased awareness of sexual health products, and the rise of e-commerce. The recognition of the LGBT community and rights, as well as the legalization of homosexual weddings, are driving the rise of the sexual wellness sector, as 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 the 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. Because they enable privacy and safeguard people's confidentiality, online stores have acquired substantial popularity in the global sexual wellness business. Furthermore, great discounts and door-to-door delivery have made online retailers popular among millennials.
However, over the projection period, side effects from harmful components in products and product recalls may limit the growth of the sexual wellness market.
Sexual Wellness Market Segmental Analysis
Product, distribution channels, and region have all been segmented in the worldwide sexual wellness market.
The sexual wellness market is divided into sex toys, condoms and contraceptives, sexual enhancement supplements, lubricants, ointments, and other categories based on product. In 2017, the sex toys category is predicted to hold the highest proportion of the sexual wellness market.
The sexual wellness market is divided into retail and online platforms based on distribution channels. In 2017, the retail segment is predicted to hold the largest share of the market. Drug stores, specialty stores, and others are sub-segments of the retail segment.
Sexual Wellness Market Regional Overview
Geographically, the Americas are expected to dominate the global sexual wellness market due to a well-established player, rising prevalence of Sexually Transmitted Diseases (STDs), increased awareness of sexual health products, and a well-developed e-commerce industry. 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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In the worldwide sexual wellness market, Europe is predicted to maintain the second-largest share. Increased awareness of sexual wellness products is credited with driving market expansion in this region.
China, Japan, Republic of Korea, India, Australia, and the Rest of Asia-Pacific make up the Asia-Pacific region's sexual wellness market. The Asia-Pacific area is predicted to grow at the fastest rate. Due to rising awareness of sexual wellness products and supportive sex education programs, Asia-Pacific is predicted to be the fastest expanding market.
Sexual Wellness Market Competitive Dynamics
The notable players of the market are LELO (Sweden), Doc Johnson (US), Church & Dwight Co., Inc. (US), Ansell Ltd. (Australia), Reckitt Benckiser Group plc (UK), LifeStyles Healthcare (Australia), Karex Berhad (Malaysia), Veru Inc. (US), Mankind Pharma (India), BioFilm IP LLC (US.
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