The developments in the sexual wellness market have been characterized as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as launches, expansion, enhancement as well as relocation. Inorganic growth strategies witnessed in the market were mergers & acquisitions, partnership, collaborations, alliance, and agreement & joint ventures. These activities have paved way for expansion of business and customer base of market players.
The sexual wellness market is projected to reach US$ 81,394.49 million by 2028 from US$ 51,924.43 million in 2021; it is expected to grow at a CAGR of 6.7% from 2022 to 2028.
The diminishment of taboos related to sexual health and pleasure is opening a vast market for the established brands offering a wide variety of products such as toys and personal lubricants. Growing concerns regarding personal hygiene, rise in focus in attractive and informative branding, increasing emphasis on awareness campaigns, and widespread openness about sexual fantasies are the significant factors driving the market growth. Major brands are experiencing lucrative demand for sex toys from both men and women. Also, online shopping has further enhanced sales as these platforms allow customers to purchase products such as sex toys, lubricants, and condoms without letting multiple people know. Many new players are entering into the market due to the substantial potential. For instance, Urja BEAUTY, a skincare brand, offers a collection of luxe vulva care products. Urja Intimates, a premium vulva and vagina care range that consists of Vibrant V pH-balanced personal wash, intense hydrating lubricant, and Vibrant V moisturizing silky-serum.
Moreover, technology integration in sexual wellness products is expected to foster the market growth during the forecast period. However, the availability of a small clientele in low-income countries hinders the sexual wellness market growth. As the number of COVID-19 cases climbs in the US, as the prolonged lockdown periods are having devastating effects on numerous industries. However, the pandemic has emerged with a bright side for sectors such as sexual wellness, which have thrived amid the global health crisis. According to the Kinsey Institute survey “Sex and Relationships in the Time of COVID-19,” 17% of participants revealed they had incorporated at least one new activity in their sex lives since the pandemic began.
Market leaders operating in the market have undertaken various organic growth strategies in the Sexual Wellness market. The sexual wellness market majorly consists of the players Reckitt Benckiser Group Plc, Lovehoney Group Ltd., LELO, Topco Sales, Church & Dwight, Inc., TENGA Co., Ltd., LIFESTYLES HEALTHCARE PTE LTD, FUN FACTORY GmbH, HLL Lifecare Limited, Bayer AG. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.
Below is the list of the growth strategies done by the players operating in the sexual wellness market:
| Year | News |
| July-2021 | Durex conducted the UK’s largest-ever sex survey of the LGBTQ+ community in order to better understand how it can be an ally and support people in being their real sexual selves. The survey, which included questions about LGBTQ+ experiences with sex education, sexual fulfilment, sexual health, dating, and self-acceptance. |
| Apr-2020 | The TENGA FLIP ORB Series has been awarded the Red Dot Design Award for Product Design 2020. |
| Sep-2020 | FUN FACTORY GmbH has launched SUNDAZE. And is the first toy from the brand-new category PULSE VIBE. |
