• Stacy Lawlor

Global Packaged Sexual Wellness Market Size to grow $120.3 Bn in 2028


Packaged Sexual Wellness Market

The Global Packaged Sexual Wellness Market Size was valued at USD 85.3 Bn in 2021. The market is projected to grow USD 120.3 Bn in 2028, at a CAGR of 6.3%. Sexual wellness refers to a condition of mental, bodily, and social well-being related to sexuality.


COVID-19 ANALYSIS

The COVID-19 pandemic has had a positive impact on the market. The demand for condoms has increased, while the desire for sex toys and other things has decreased temporarily. Individuals have begun to rely on sex toys and vibrators to meet their sexual requirements. The virus has disrupted on the global supply chain of condoms and sex toys. Governments all over the world have published advice to encourage partners to have safe sex during the lockdown. For instance, Malaysian business Karex has increased sevenfold in the first half of 2020. Some sexual health firms and retailers with ready-to-scale inventory and shipping operations are reporting e-commerce sales that are twice as high as they were before COVID-19.

Packaged Sexual Wellness Market

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Exploration of sexual fantasies, promoting changes in attitudes, and relating sexual wellness to lifestyle are all part of the ongoing building of a new sexual culture free of the shame connected to the concept of sex. With the advent of STDs and STIs, the use of sexual protection measures or contraceptives is becoming more popular, with the goal of avoiding disease spread and potentially limiting birth rates. Better condom adoption among the youth population thanks to innovation in product development and distribution channels. The global market for condoms is fueled by the need for affordable and reversible contraceptives, such as condoms, as governments around the world push for safe sex practices.


The market's growth prospects are being bolstered by a growing awareness and acceptance of sexual wellness gadgets among mainstream consumers. Furthermore, growing acceptance of the LGBT community around the world is expected to boost global market growth in the future years. According to the School of Law Williams Institute, the United States accounts for about 4.5% of the LGBT population, with 58% of women and 42% of men. Furthermore, numerous health organizations and central governments are making significant efforts to improve the health of women in underdeveloped nations, which is adding to the market's growth structure.


The condoms segment dominated the global packaged sexual wellness market share owing to the easy availability and high penetration due to government support for free condoms in urban as well as rural population. The women segment dominated the global packaged sexual wellness market share owing to the rising shift of sexual wellness products among women. The specialty stores segment dominated the global packaged sexual wellness market share owing to the growing specialize in selling a specific product line and related things, such as sex toys, condoms, contraception, and other sex-related items in one place. North America region is expected to dominate the market share of global packaged sexual wellness market owing to the rising investments in R&D of sex toys, and condoms. Technological advancements and purchasing power are the primary key to propel the growth of the global packaged sexual wellness market. However, Asia Pacific is expected to account highest CAGR across the forecast period due to the rising urbanization and growing customer preference towards sex toys. Increase in the level of awareness and experimentation with sexual wellness items. Furthermore, due to rising purchasing power in various nations, the consumer market in APAC, particularly in Southeast Asian countries, is positioned to rise at a remarkable rate. During the projected period, advancements in lifestyle, combined with increased consumer spending, are expected to drive the penetration of these items in APAC.


KEY INDUSTRY DEVELOPMENTS:


March 2022- Yellow Wood Partners LLC acquired Beacon Wellness Brands which sells sexual wellness devices under the PlusOne and Deia brands, which are sold in many leading retailers including, Target,


August 2021- Meditim has launched a new menstrual cup of two sizes which is available online at their website.


August 2019- Grove Collaborative acquired Sustain Natural by offering its own brands of home and personal care products, including lines of tree-free paper, laundry care and vitamins.


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https://extrapolate.com/Retail/packaged-sexual-wellness-market/25620





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