Sexual Wellness Market to Grow 9.7 Percent by 2020, Report Says

LOS ANGELES—The sexual wellness market in the United States has been projected to increase at a compound annual growth rate of 9.73% between now and 2020, according to a report released by Research and Markets. Research and Markets on Tuesday announced the addition of the "Sexual Wellness Market in U.S. 2016-2020" report to their offering.  The market is divided into the following segments based on product: sex toys, contraceptives, personal lubricants, erotic lingerie and other. The report defines sexual wellness products as "condoms, sensual lingerie, lubricants, sex toys, contraceptives, costumes, accessories, oils, and herbal supplements."   According to the report, a key growth driver is the growing demand from older female consumers. Changing consumer attitude and exposure to various sexual wellness products have increased the involvement of women in discussions about the body and sexuality. Young women are the most enthusiastic buyers of these products. In 2015, more than 75% of young women were estimated to have experimented with sex toys and other advanced products launched in the market. However, in the current scenario in the U.S., female baby boomers are helping in accelerating the sales of sexual wellness products. Further, the report states that one challenge that could hinder market growth is the use of toxic ingredients in products. Manufacturers often tend to ignore potential health issues caused by these products, due to lack of strict regulations regarding the sex toy market and limited research on the negative effects of these toys, the report said. Further, these materials are labeled "for novelty use only," thus shielding the manufacturers.  For more information on the report, click here.