Let’s talk about sex. After all, we’re in an era of unprecedented acceptance of, and access to, information, tools, toys and contraceptives to make sex better and safer.
This access is going to help the global sexual wellness market grow by $16.66 billion to hit a value $57.57 billion by 2020, with sex toys and contraceptives accounting for the bulk of the market share.
Global sexual wellness market by category 2015
Source: Technavio
Dildos, jiggle balls, and cock rings: Sex toys to top $29 billion by 2020
The global sex toys market was worth $20.82 billion in 2015 and will reach $29.07 billion by 2020, growing at a compound annual growth rate of 6.91%.
According to Church & Dwight, more than 50% of Americans use vibrators. And that’s just one segment of the sex toy market. It doesn’t take into account dildos, dolls, games, cock rings, slings, jiggle balls, bondage gear or any of the other tools an inquisitive consumer might use in the bedroom.
Most popular sex toys 2015
Source: Technavio
Such a large (and growing) user base is helping sex toy vendors shake off stigma of yore and go mainstream, with more sex toys making their way out of specialty shops to drug stores and even mass retailers.
Did you know?
70% of sex toys are produced in China. The country has over 1,000 companies manufacturing sex toys nationwide, with most of these located in Guangdong, China, and Zhejiang.
The major reasons for China’s domination in the manufacturing of sex toys are the availability of raw material and the low cost of labor.
The contraceptive market is booming thanks to high growth in emerging economies
Contraceptives come just behind sex toys in the sexual wellness market in terms of market value, but this segment is actually growing faster than toys. The contraceptives market was valued at $16.25 billion in 2015 and will reach $23.14 billion by 2020, growing at a CAGR of 7.33%.
While pregnancy prevention is and will remain the top reason to reach for birth control and non-hormonal contraceptives, the threat of sexually transmitted infections and diseases is another major driver for contraceptive sales, specifically condoms.
One of the reasons this segment is expected to post a relatively high growth rate is that emerging economies in the APAC region, as well as the Middle East and Africa, are gaining traction. Social marketing campaigns, public health promotions, commercial advertising, expanded distribution channels, and the use of condoms by non-heterosexual users have resulted in increased awareness and ultimately increased sales in these regions.
Technavio’s new report on the sexual wellness market covers market segmentation by product and region, as well as drivers, challenges, and trends expected to impact growth over the forecast period. Check out our health and wellness report library for more details.
