Sexual Wellness Market Growing 7% Annually, Report Says
TORONTO — A new market research report by TechNavio titled “Global Sexual Wellness 2016-2020” forecasts its growth at 7.07 percent annually through 2020.
TechNavio’s analyst says innovation is one of the key trends that is driving the sexual wellness market.
“Since sexual wellness products are mostly associated with crude shapes and indecent images, the vendors in the market are blending designs and functions to introduce new products that break away from the conventional products and instead look modish and sophisticated. With the introduction of the 3D printing technology, vendors are trying to combine unique designs with advanced functions to cater to the needs of the end-users.”
Also driving the market’s growth is shifting attitudes towards sex.
“The increasing customer acceptance for experimenting with sexual practices is one of the key growth drivers for this market. With the growing exposure to the Internet, TV shows, and erotic fictions, consumers around the world are shedding their inhibitions and experimenting with sexual practices.
“Moreover, the rise in awareness of safe sex practices is also prompting individuals to be more understanding of the use of sexual wellness products,” the report says. “Also, the changes in societal pressures and morality issues have altered the customer’s perception about sexual wellness products, and this will propel the growth prospects for sexual wellness products globally.”
According to the report, geographically, Asian Pacific countries are poised to become the largest market for sexual wellness products and are expected to account for nearly 40 percent of the market share until the end of 2020.
The report also highlights high-profile global vendors, including key players Ansell, Church & Dwight, Reckitt Benckiser, BioFilm and Doc Johnson.
Other prominent vendors noted in the report include Adam & Eve, Ann Summers, Bayer, Beate Uhse, Bijoux Indiscrets, Caya, Dico inc., Eau Zone Oils & Fragrances, Fuji Latex, Good Clean Love, Intimate Organics, Jimmyjane, LELO, Liberator, Lipocine, LoveHoney, OhMiBod, pjur, Pure Romance, Sagami Rubber Industries, Tenga, The Female Health Company and YES.
The complete report is available for purchase here.