Sexual Wellness Market Forecast to 2028 - COVID-19 Impact and Global Analysis
The sexual wellness market is projected to reach US$ 81,394.49 million by 2028 from US$ 51,924.43 million in 2021; it is expected to grow at a CAGR of 6.7% from 2022 to 2028.
The growth of the market is attributed to the changing perception toward the use of 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 wellbeing inspires a positive and respectful approach to sexuality and sexual relationships. Sexual wellness plays a critical role in physical and emotional health.
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 market players.
Market Insights
领英推荐
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 market growth. Major 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 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.
Pharmaceutical Product-Based Insights
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 an exact dosage can be created. Also, they are absorbed better than tablets, are easy to swallow and contribute less to stomach upset.