The Sexual Enhancement Supplements Market on a Global Scale is Predicted to Achieve a CAGR of 7.9% (2024 – 2034)
Wilmington, Delaware, June 27, 2024 (GLOBE NEWSWIRE) — The global sexual enhancement supplements market has witnessed significant growth over the past decade, driven by a combination of demographic shifts, increasing awareness, and evolving consumer attitudes towards sexual health and wellness. This market encompasses a wide range of products designed to enhance sexual performance, libido, stamina, and overall sexual satisfaction. There has been a notable shift in societal attitudes towards sexual health, with more individuals openly seeking solutions to enhance their sexual experiences. This cultural shift has significantly expanded the consumer base for sexual enhancement supplements. As the global population ages, there is a growing demand for products that address age-related sexual health issues such as erectile dysfunction and decreased libido. This demographic trend has spurred the development of supplements targeting older adults.
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Global Sexual Enhancement Supplements Market: Key Datapoints
| Market Value in 2023 | US$ 375.3 Mn
|
| Market Value Forecast by 2034 | US$ 866.3 Mn
|
| Growth Rate
| 7.9% |
| Historical Data
| 2016 – 2022 |
| Base Year
| 2023 |
| Forecast Data
| 2024 – 2034 |
Increasing penetration into emerging markets and diversification of distribution channels beyond traditional retail outlets present significant growth opportunities. Direct-to-consumer models and partnerships with online retailers are becoming increasingly popular. The growing focus on holistic health and wellness is influencing consumer preferences towards natural and organic ingredients in sexual enhancement supplements. Products positioned as natural or herbal are gaining traction due to perceived safety and efficacy. There is ample opportunity for innovation in formulation and delivery methods of sexual enhancement supplements. Companies are investing in research to develop products that are more effective, safe, and convenient for consumers. For instance, in March 2023, TTK Healthcare, a company specializing in healthcare and consumer goods, unveiled its latest brand, MsChief. This brand offers a diverse range of products designed to enhance sexual pleasure for women. The lineup includes pleasure enhancers, lubricants, and stimulants, all tailored to meet the unique needs of women seeking to enhance their sexual experiences.
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The integration of cannabidiol (CBD) into sexual enhancement products is a notable trend, driven by its potential therapeutic effects on sexual function and relaxation. Herbal ingredients like ginseng, maca, and tribulus terrestris continue to be popular due to their historical use in enhancing sexual health. Consumers are increasingly seeking personalized solutions tailored to their specific needs and preferences. This trend is prompting manufacturers to offer customizable formulations and dosage options. In conclusion, the sexual enhancement supplements market is poised for continued growth, fueled by demographic shifts, technological advancements, and changing consumer preferences towards sexual health and wellness. Innovations in product development and distribution channels, along with evolving regulatory landscapes and cultural acceptance, will shape the future trajectory of this dynamic market. As awareness grows and stigma diminishes, the market is likely to expand further, offering new opportunities for industry players and improved options for consumers worldwide.
Key Takeaways of the Report:
- The synthetic supplements segment in the sexual enhancement supplements market is expected to grow at a CAGR of 6.2% due to increasing consumer demand for quick and reliable solutions to sexual health issues. Synthetic supplements offer standardized doses and consistent results, appealing to consumers seeking effective and predictable outcomes.
- Male segment by gender has dominated the sexual enhancement supplements market with a significant revenue share of 69.4% due to higher prevalence of sexual health concerns among men, including erectile dysfunction and performance anxiety. Additionally, cultural and societal norms often prioritize male sexual health, driving greater demand and market penetration for products targeting male consumers.
- Pills and capsules segment has become a prominent segment in the sexual enhancement supplements market, capturing 28.1% market share due to convenience, ease of consumption, and perceived effectiveness. Consumers prefer these formats for their discreetness, portability, and familiarity, making them a popular choice among those seeking accessible solutions for sexual health enhancement.
- Online distribution channel segment in the sexual enhancement supplements market is expected to grow rapidly over the forecast period due to its convenience, anonymity, and widespread accessibility. Consumers increasingly prefer shopping online for privacy reasons and the ability to research products thoroughly before purchase. E-commerce platforms also offer a wider variety of products and competitive pricing, appealing to a broader demographic seeking discreet solutions for sexual health concerns from the comfort of their homes.
- In 2023, Asia Pacific strengthened its position as the second-leading region in the global sexual enhancement supplements market due to increasing awareness and acceptance of sexual health products, coupled with rising disposable incomes and urbanization. Market growth is further propelled by changing cultural attitudes towards sexual wellness, expanding product availability through online platforms, and targeted marketing strategies by manufacturers aiming to capture a larger consumer base in the region.
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Following are the major companies active within the sexual enhancement supplements market:
- AdvaCare Pharma
- Ambic Ayurved India Pvt. Ltd.
- Atlantic Essential Products Inc.
- Dabur India Ltd.
- Doc Johnson Enterprises
- GNC Holdings LLC
- Good Clean Love Inc.
- Herbalife International of America Inc.
- Hi Tech Pharmaceuticals Inc.
- Himalaya Global Holdings Ltd.
- Leading Edge Health Inc.
- Lovehoney Group Ltd.
- Varah Healthcare
- Vox Nutrition Inc.
- Walgreens Boots Alliance Inc.
- Other Industry Participants
Global Sexual Enhancement Supplements Market
By Product Type
- Natural Supplements
- Synthetic Supplements
By Gender
- Male
- Female
By Form
- Pills and Capsules
- Powders
- Liquids
- Topical Products
- Chewable and Gummies
- Others
By Distribution Channel
- Online
- Company’s Website
- E-Commerce Website
- Offline
- Supermarkets and Hypermarkets
- Pharmacies and Drugstores
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe)
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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