LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global sexual wellness market to grow at a CAGR of close to 7% during the period 2018-2022, according to their latest market research report.
The introduction of 3D printing is one of the major trends being witnessed in the global sexual wellness market. The use of 3D printing to manufacture sexual wellness products is increasing. Manufacturers have realized that products with standard sizes cannot address the needs of all people and the use of customized sexual wellness products can improve the sexual experience of people. Because of this reason, vendors such as Aniwaa and sayitwithacondom print sexual wellness products according to the needs of their customers who can design their products from their homes.
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In this report, Technavio analysts highlight the increasing average age of first pregnancies as a key factor contributing to the growth of the global sexual wellness market:
Global sexual wellness market: Increasing average age of first pregnancies
The average age of first pregnancies has been increasing across the world. The average age of first pregnancies in most of the countries had increased from 28 in 1995 to more than 30 in 2015. In regions such as Asia, the number of births from each woman had reduced from 2.56 in 1995 to 2.2 in 2015. In most parts of Asia, excluding South Asia, the average age of first pregnancies is more than 24. The increasing age of first pregnancies is due to increasing economic pressure and the internet of women in higher education and careers.
According to a senior analyst at Technavio for health and wellness, “The cost of raising children is also increasing owing to the growing cost of education and childcare. In countries such as the UK, the cost of raising children increased by 58% from 2003 to 2013. Hence, there is a delay in marriage and motherhood. All these factors will increase the demand for contraceptives, which will drive the growth of the global sexual wellness market.”
Global sexual wellness market - Sex toys segment leads the market
This market research report segments the global sexual wellness market into the following products (sex toys, condoms and contraceptives, personal lubricants, and erotic lingerie) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the four major products, the sex toys segment held the largest market share in 2017, contributing to over 50% of the market. The market share occupied by this segment is expected to decrease by almost 1% by 2022. However, this product segment will dominate the global market throughout the forecast period.
APAC was the leading region for the global sexual wellness market in 2017. It accounted for a market share of approximately 39%. It was followed by EMEA and the Americas. The Americas is expected to project the fastest growth during the period 2018-2022.
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