The Worldwide Personal Lubricants Industry is Expected to Reach $2.8 Billion by 2030
DUBLIN, Feb. 24, 2023 /PRNewswire/ -- The "Personal Lubricants Market Size, Share & Trends Analysis Report By Distribution Channel (E-commerce, Drug Stores), By Type (Silicone-, Oil-, Water-based), By Region (APAC, MEA, North America), And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global personal lubricants market size is expected to reach USD 2.8 billion by 2030. It is projected to register a CAGR of 9.65% during the forecast period.
The stigma associated with sexual activities & experimenting is reducing due to liberalization and growing acceptance of same-gender attraction. Sex-positive movements have helped clear stereotypes related to gender, age, and social construct of people. Acceptance of the LGBTQIA+ community is promoting the adoption of lubricants and other such products, which is boosting the market growth. People are more interested in discussions about sexuality and are experimenting with sexual wellness products without hesitation.
According to the U.S. Census data and Simmons National Consumer Survey (NHCS), in 2020, around 49 million U.S. individuals were reported to be using personal lubricants.
Moreover, an increase in accessibility to a broad range of products, a reduction in their adverse effects due to advancements in product development, and the introduction of superior products in recent years by manufacturers, such as moisturizing & flavored lubricants, are expected to drive the growth of this industry.
For instance, in January 2021, O-Shot Women introduced a water-based lubricant, O-Shot Liquid Glide, for women. The pandemic boosted the online sales of sexual wellness products due to travel restrictions and fear of contracting the infection.
Owing to the increased demand for products online, major supermarket chains added these products to their websites. For instance, in July 2022, Walmart added Fetish Mafia's line of adult products, including Weinerschleiden & d-AZ lubricants and body bag condoms, on their website.
The industry is fragmented with the presence of many major players, which hold the majority of the revenue shares. These companies are launching various innovative products to gain a competitive edge. For instance, in August 2022, Sliquid, LLC, launched Sliquid Sparkle, a Pride-edition lubricant. Sparkle, a repackaging of the primary brand of the company, Sliquid H2O, is a superior water-based composition with only five ingredients.
Personal Lubricants Market Report Highlights
- Based on type, the water-based segment accounted for the largest revenue share in 2022. This is owing to the easy application and removal of water-based lubricants due to their gel-like consistency
- The silicone-based type segment is expected to witness the fastest growth rate during the forecast period due to the inert, hypoallergenic, and long-lasting properties of these products
- North America was the largest regional market in 2022 and will continue the trend throughout the forecast period due to the high product demand
- The e-commerce distribution channel segment accounted for the largest revenue share in 2022 due to the rising internet usage and the availability of a diverse product portfolio on e-commerce platforms
Market Dynamics
Drivers
- Changing costumer attitude
- Growing desire of geriatric population to have an active sex life
- Growing popularity of ecommerce
Restraints
- Adverse effects due to toxic ingredients in products
- Marketing restrictions on sexual wellness products
Opportunities
- Rising incidence of vaginal dryness and erectile dysfunction
Companies Mentioned
- Reckitt Benckiser Group plc
- BioFilm, Inc.
- Trigg Laboratories, Inc.
- LifeStyles Healthcare Pte Ltd.
- The Yes Yes Company Ltd.
- Lovehoney Group Ltd.
- Church & Dwight Co., Inc.
- Mayer laboratories Inc.
- Uberlube
- Sliquid, LLC
For more information about this report visit https://www.researchandmarkets.com/r/b21xv3
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