The Indian market is expected to exceed $52 billion by 2020
The growing awareness about sexual wellness products along with the decrease in the stigma attached to the concept of sex is increasing growth opportunities in the sexual wellness market. The increasing awareness and acceptance among mainstream consumers will boost sales in the global sexual wellness market. But what exactly is sexual wellness?
Sexual wellness is a term used to describe products that are related to the enhancement of sexual health and experience. These products include condoms, lingerie, pleasure- enhancing devices, lubricants, toys, costumes, accessories, adult games, oils, and herbal supplements.
These products are meant to help consumers in experiencing sexual pleasure and satisfaction in their sexuality and their relationships while promoting and enhancing their health and safety.
Indian Sexual Wellness Industry
It is no secret that when it comes to sexual wellness, the Indian industry is minuscule in comparison to the global markets like USA, UK, and Canada etc. But, the growing influence of western media, pop culture & web-series has increased the awareness of adult lifestyle products. Increase in education and worldwide success of novel and movie series like “Fifty Shades of Grey”, combined with the discreet delivery is fuelling the demand for adult lifestyle products in India.
The industry has witnessed steady growth and the trend is expected to continue in future. The Indian market is expected to exceed $52 billion by 2020, which is less as compared to the global market. The global sexual wellness market is expected to reach values of around $39 billion by 2024, growing at a CAGR of more than 7% during 2019.
Reasons for Abysmal Growth
The topic of ‘sex’ is still considered blasphemy and not openly discussed, whether the discussion is in peer-groups, friends or family. The myth, taboos revolving around the sexual wellness of an individual and lack of information about intimate products prevent first time users from buying the products.
Apart from cultural stigma, consumers are also misinformed about the legality of adult lifestyle products and falsely assume that the products are illegal. According to the order passed by the Calcutta High Court Ruling on July 29th 2011, it is confirmed that obscenity charges against adult games or sex toys are not legally sustainable.
In addition to this, another stumbling stone for the industry is that there is a lack of awareness about how and why to use adult lifestyle products. Information is not easily available to consumers, as the drug stores staff are either incapable or not willing to answer questions related to sexual health and pleasure.
Many customers are still unaware of the fact that there are adult lifestyle products available in the Indian market.
A Promising Future for E-commerce
The Indian industry is quickly picking up its pace. The market has huge untapped potential, resulting in the emergence of new players in the market. Moreover, International brands and investors have recognized the potential for accelerated growth, and India is also considered the next hub, for the growth of the sexual wellness category.
One of the major growth drivers of the sexual wellness industry is the adaptation of e-commerce. According to a report, the online stores are the fastest growing segment in the global market, at a CAGR of around 20%.
People who want to explore their sexuality, often restraints themselves due to societal smirch. But, e-commerce allows them a discreet and confidential shopping experience and encourages the masses to try out the products and take care of their sexual health.
If reports are to be believed, there has been an increase in the purchase of adult lifestyle products, and over 70% of the customers were women. There have been huge demands from tier II and tier III cities as well. This proves that the industry is steadily moving from niche to mainstream and holds huge business potential.