LONDON--(BUSINESS WIRE)--The sexual wellness market in the US is expected to grow at a CAGR of more than 9% from 2017-2021, according to a new market research report by Technavio.
Sexual wellness market in the US: segmentation by product type and distribution
Technavio’s report on the sexual wellness market in the US analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by product type, including sex toys, condoms and female contraceptives, personal lubricants, and erotic lingerie. As projected in 2016, around 49% of the market share originated from the sex toys segment. The sex toys market is growing due to the changing perception of individuals in the society.
Based on distribution, the sexual wellness market in the US has been segmented into retail and specialty stores and online stores. As of 2016, more than 61% of the market share came from the retail and specialty stores segment.
“The leading retail stores in the US such as Walmart, Walgreens, and CVS Health have started selling sex toys and other sexual wellness products on their shelves as people are becoming more self-aware of their individual sexual needs. Even brick and mortar stores have begun selling sexual wellness products including sexual enhancement supplements, personal lubricants, condoms, and adult vibrators,” says Tasneem Ali, a lead analyst at Technavio for health and wellness research.
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Sexual wellness market in the US: competitive vendor landscape
The sexual wellness market in the US is highly fragmented as many privately owned and operated vendors are present in the market. While condoms are widely available across various pharmacies, drugstores, and general merchandise stores, the conventional retailers of other sexual wellness products are limited to only certain retail stores. The vendors compete in terms of pricing, quality, innovation, features, service, reputation, distribution, and promotional activities. Vendors are increasingly directing their marketing efforts toward creating product and brand awareness.
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Other topics covered in the report:
Market drivers:
- Growing LGBT population in country
- Change in perception about sexual wellness products
Market challenges:
- Increase in side effects
- Irregularities in sex education
Market trends:
- Rise in disposable income
- Increase in innovative marketing
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