LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global water-based personal lubricant market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Amber Chourasia, a lead analyst from Technavio, specializing in research on health and wellness sector, says, “Brand building and corporate social responsibility activities by vendors in the market have achieved a better association of brands among consumers. For instance, Sustain Condoms, a provider of sexual wellness products, donates around 10% of its profits to US organizations that offer family planning and reproductive healthcare services to women.”
The global water-based personal lubricant market is growing steadily due to the fast-changing perception toward the use of lubricants. Rapid product innovation has been taking place in the market. The introduction of new products to distinguish their products from the rest of the market offerings, manufacturers are experimenting with new ingredients, flavors, packaging, and design. Personal lubricants, including water-based lubricants, using aloe vera are the most talked about lubricants in the market.
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The top three emerging trends driving the global water-based personal lubricant market according to Technavio research analysts are:
- Growing awareness among consumers
- Growing visibility of personal lubricants in mainstream market
- Rapid growth of e-commerce
Growing awareness among consumers
Consumers are becoming more empowered with increased awareness and supportive environment. People are increasingly using sex toys and lubricants to enhance their sexual experience. Masturbation aids such as water-based personal lubricants, sold through retail and online channels, help satisfy consumers' sexual fantasies. The acceptance of homosexuality, which was earlier viewed as a taboo in most cultures, have led to increased exploration of sexual fantasies, thereby strengthening the demand for water-based lubricants in the market.
“There is an increase in the desire to try new sexual wellness products. Vendors in Japan have developed mechanized, full-sized silicone sex toys that use water-based lubricants. Innovation is being driven by integrating video game technology, virtual reality, and sex toys to provide better sexual pleasure, leading to higher satisfaction among end-users,” according to Amber.
Growing visibility of personal lubricants in mainstream market
Sexual wellness products such as personal lubricants have become a part of discussions among users of all ages. This has created a tremendous shift in the consumer acceptance and expectations of these products. Vendors are capitalizing on this opportunity by retailing these products openly. Personal lubricants, including water-based lubricants, now have separate store shelves at supermarkets, drugstores, and super centers.
E-commerce websites provide a wider range of lubricant options, targeting consumers in the age group of 18-50 years. This change in retail landscape will, therefore, facilitate the acceptance of these products, increase the demand from consumers, and consequently drive the growth of the water-based personal lubricant market during the forecast period.
Rapid growth of e-commerce
The growing popularity of e-commerce has made it easier for customers to browse and purchase from a wide range of products from several vendors through their online portals. This not only helps the customers make their shopping experience easier but also allows manufacturers to improve their brand visibility and brand retention.
The ability to market and sell these products online opens new avenues for the vendors to expand their business in terms of product availability and accessibility. The increasing penetration of e-commerce will enable vendors to offer a broad range of water-based personal lubricants to reach new customers and considerably increase the potential customer base for these products. Every product category has seen a surge in terms of availability and ease of buying. The wide range of products within the lubricant category has also seen a rise, with several variants of these products catering to the personal desires of customers.
The key vendors are as follows:
- Church & Dwight
- Reckitt Benckiser
- Topco Sales
Browse Related Reports:
- Global Adult Store Market 2016-2020
- Global Sexual Wellness Market 2016-2020
- Global Personal Lubricant Market 2015-2019
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