The US sexual wellness market is expected to grow at a CAGR of around 8% during the period 2022−2031.
Surge in AIDS/HIV and STD instances, evolvement of gender-neutral tone in market, maximization of online opportunities, and capitalization of retail trends are the factors that are likely to contribute to the growth of the US sexual wellness market during the forecast period.
The US has remained a key market for sexual wellness market vendors. The country has areas with an untapped and unserved demand for a diverse range of sexual wellness products. Over the years, vendors catering in the US have come up with innovative campaigns and products for serving the growing demand across countries. The country has witnessed a range of experiences within the sexual wellness products, be it innovative campaigns to opening up of exclusive sex toy stores.
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Over the years, the urge for sexual wellness products in the US has witnessed considerably high. Factors such as the growing integration of these products with sexual health, the rising population of the LGBT community, and growing concerns over HIV infections are driving the market. Also, brand promotions and advertisement campaigns further tend to drive the need for adopting products such as condoms and lubricants while indulging in sexual intercourse. The prevalence of HIV remains high among older couples in the country as well.
The study considers the present scenario of the US sexual wellness market and its market dynamics for the period 2022−2031. It covers a detailed overview of various market growth enablers, restraints, and trends. The study includes insights on segmentation by products (sex toys, condoms, exotic lingerie, sexual lubricants, and others), gender (male and female), distribution channels (retail and online), and Geography (US). The report covers both the demand and supply aspects of the market. It also profiles and examines leading companies and other prominent companies operating in the US sexual wellness market.
US Sexual Wellness Market: Segmentation
This market research report includes a detailed segmentation of the market by product, distribution channel, Gender, and geography. In 2018, the sex toys segment led the market. Sex toys are witnessing high demand due to the growth in online sales distribution channels. Vibrators or dildos, massagers, rubber penis, Realdolls, and bondage gears are the prominent sex toys. The market is witnessing a shift as women are becoming sexually empowered worldwide. There is also a growing demand for both shared and solo sex toys among end-users. Hence, these factors are contributing to the growth of sex toys in the market. Moreover, the change in the social attitude toward sex toys has also contributed to market growth. Condoms remain the most widely used contraceptive across the US with a revenue share of more than 34% in 2018. Condom distribution programs remain integral in the prevention of sexually transmitted infections (STI), especially in the young population (15–24) in the US. The female condom market in the US is also witnessing rapid growth in demand. The exotic lingerie market in the US is witnessing a steady and healthy growth. The market constitutes risqué lingerie, such as teddies, baby dolls, corsets, slips, and sensual innerwear.
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Given the long-lasting perception of the sexual wellness industry being a male-centric market, several products developed in the market – condoms or sexual lubricants – have focused on men. The condom segment, which is largely dominated by males, can be a lucrative revenue avenue for vendors. Furthermore, a push for evolving gender-neutral tones becomes essential as the market is expected to attain maturity, thereby forcing vendors to think and strategize differently. The market by women end-users has reasonable opportunities waiting for vendors as more wellness programs and products are aimed at women folk. Vendors can consider pitching up to their products, which align sex with wellness. With recent innovations in the market and the quickly fading taboo status of sex, vendors are launching their innovative ideas with women as the target audience.
Sexual wellness products are mainly sold through retail distribution channels such as specialty stores, supermarkets, hypermarkets, mass-market players, drug stores or pharmacies, and grocery stores. Manufacturers are harnessing sex specialty stores and supermarkets due to personalized customer services, which is boosting the offline retail market. Although online purchasing is increasing, a significant share of product distribution takes place through sex specialty stores. Adherence to USFDA standards and other regulations remains a key priority for vendors catering to the US market. The entry of condom manufacturers such as Reckitt Benckiser and Church & Dwight in the US market has also increased the sale of sex toys and sexual lubricants through retail stores. In 2018, the retail segment contributed the highest revenue to the US sexual wellness market. The online segment is facing intense competition from the retail segment because of the entry of traditional condom manufacturers, which have increased the visibility of these products in store shelves across the country.
Key Vendor Analysis
The competitive scenario in the US sexual wellness market is currently intensifying. The rapidly changing technological environment could adversely affect vendors as customers expect continual innovations and upgrades. The present scenario is forcing vendors to change and redefine their unique value proposition to achieve a strong market presence. The market is moderately fragmented with many global players providing personal lubricants with high functionalities and designs. LifeStyles, Okamoto Industries, Karex Berhad, Reckitt Benckiser, Diamond Products, and Church & Dwight are the major vendors in the market. All these companies have a global presence at least in three major geographical regions – North America, APAC, and Europe. However, there are local vendors providing products with similar specifications at low prices. This has intensified price wars among vendors. The market has the threat of infiltration with low-quality products.
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