Sexual Wellness Market Expected to Reach $31.6 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Sexual Wellness Market," The sexual wellness market size was valued at $19.7 billion in 2022, and is estimated to reach $31.6 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032.

Sexual wellness products include a range of items designed to promote a healthy and satisfying sexual experience. Among these products are personal lubricants, which are used to reduce friction and enhance comfort during sexual activities. Sprays, on the other hand, are applied externally to heighten sensations or delay ejaculation, aiming to prolong sexual activity. Finally, condoms, often made of latex or other materials, are barriers that act as contraceptives, which provide protection against unintended pregnancies and sexually transmitted infections (STIs). These products collectively contribute to enhancing pleasure, comfort, and safety during sexual encounters, promoting overall sexual well-being for individuals and couples alike.

The rise in instances of HIV and other sexually transmitted infections has promoted the use of condoms and other sex-related products such as sex toys and contraceptives among the population. Condoms have gained significant popularity among millennials as they reduce the risk of pregnancy and decrease risks related to sexually transmitted infections. Governments and NGOs in many countries distribute free condoms promoting their use to combat the issue of overpopulation, which is anticipated to increase the production of condoms and in turn, propel the market growth. For instance, according to the Joint United Nations Program on HIV/AIDS (UNAIDS), 38.4 million [33.9 million–43.8 million] people globally were living with HIV in 2021, and 1.5 million [1.1 million–2.0 million] people became newly infected with HIV in 2021. Sexual wellness products such as condoms play a vital role in preventing such sexually transmitted diseases.

An increase in investments in R&D in manufacturing companies has led to the improvement of existing products and contributed toward market growth. The improvements in sexual wellness products such as lubricated condoms, and innovations in methods of contraception have created more demand for sexual wellness products. For instance, Bayer and Daré Bioscience, a U.S.-based biotech company, developed a hormone-free monthly contraceptive. It is a device that needs to be inserted in the vagina. This device provides contraception for three weeks, which explicitly reduces the risk of unintended pregnancy. Thereby, players in the sexual wellness market are heavily investing in R&D to build or enhance competitive advantage over their competitors.

Greater access to sexual education and information through the internet, social media, and other platforms has led to increased awareness about sexual health. People are now more informed about the importance of sexual wellness and the available options to address concerns or improve their sexual experiences. The increased awareness about sexual health is expected to propel the growth of the sexual wellness industry in the upcoming years.

Growth in hectic schedules, stress, frustration, psychological disorders, and medical issues have led to a reduction in sexual activities. For instance, medical issues such as low testosterone, medications, restless legs syndrome (RLS), depression, chronic illness, sleep problems, and aging lead to a decrease in sexual stamina in men and women, which in turn, leads to decreased enthusiasm during sexual activities. In a study, researchers discovered that men with RLS are at higher risk of developing erectile dysfunction (ED) than those without RLS. Thus, an upsurge in medical, psychological, and physical issues in men and women has led to decreased sexual acts, which results in a decrease in demand for sexual wellness products, especially sex toys, condoms, female contraceptives, and others.

According to the market analysis, the global sexual wellness market is segmented into products, distribution channel, and region. By product, the market is divided into personal lubricant, sprays, and condom. By distribution channel, the market is classified into specialty stores, E-commerce, FDM, and white label. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, the UK, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Thailand, Indonesia, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, UAE, Argentina, and rest of LAMEA).  

By product, the condoms segment accounted for more than 68.5% of sexual wellness market share, in terms of revenue, in 2022. Increased public health awareness of sexually transmitted infections (STIs) and unintended pregnancies. Condoms are widely recognized as an effective method of preventing the transmission of STIs, including HIV/AIDS, gonorrhea, chlamydia, and syphilis. In addition, condoms serve as a barrier contraceptive method that helps reduce the risk of unintended pregnancies.

By distribution channel, the FDM segment accounted for more than 67.5% of the market share, in terms of revenue, in 2022 and is expected to maintain its dominance during the forecast period. FDM retailers provide a convenient one-stop shopping experience for consumers, offering a wide range of products, including sexual wellness items. The availability of sexual wellness products in grocery stores, drugstores, and mass merchandise outlets makes them easily accessible to a broad customer base and expected to propel the sexual wellness market demand in the upcoming years.

Region-wise, Asia-Pacific was the largest market in 2022 and had the highest market share of 36.8%. Global brands strive among themselves to deliver better value propositions and effective marketing strategies. Asia-Pacific is projected to grow at the highest CAGR, owing to urbanization and exposure to Western influences have played a significant role in shaping attitudes toward sexual wellness in the Asia-Pacific region. Ongoing sexual wellness market trends are expected to propel the sexual wellness market growth in the upcoming years.

Some of the key players profiled in the sexual wellness market analysis include Bijoux indiscrets, California exotic novelties, Church and dwight co., Doc johnson enterprises, Karex berhad, Kessel medintim GmbH, Reckitt benckiser group plc, Tenga co, Astroglide, Trigg laboratories, Pjur, Wicked sensual care, Westridge labs, an Adam and Eve

Key findings of the study

• Based on the product, the sprays segment is projected to witness the highest CAGR of 5.5%, in revenue terms, during the forecast period.
• Based on distribution channel, the white label segment is expected to grow at a significant CAGR during the forecast period.
• Based on region, LAMEA is anticipated to witness the highest growth rate, registering a CAGR of 5,5% from 2023 to 2032.