Dublin, July 14, 2023 (GLOBE NEWSWIRE) -- The "U.S. Sexual Lubricant Market - Industry Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
U.S. Sexual Lubricant Market is projected to reach a value of $722.52 million by 2028 from $456.04 million in 2022, growing at a CAGR of 7.9%
The Southern U.S. holds the most significant share of the U.S. sexual lubricant market due to the presence of the largest population base. Also, the considerable surge in disposable income in the region has created a high demand for sexual lubricants in the Southern region.
The Southern U.S. has a high population of older adults who may experience reduced natural lubrication and seek sexual lubricants to enhance their sexual experience. College students are a large demographic in the Southern U.S. region, and sexual lubricants may be in demand as they explore their sexuality and experiment with new sexual experiences.
The U.S. sexual lubricant market is moderately fragmented, with many players providing sexual lubricants with high functionality and designs. The key vendors in the U.S. sexual lubricant market are Reckitt Benckiser, BioFilm, Church & Dwight, Lifestyles, and Karex Berhad.
A wide range of products is available to consumers, with vendors offering various types of lubricants, such as water-based, silicone-based, and oil-based lubricants. To compete in this industry, vendors must differentiate by offering high-quality products, innovative formulations, and attractive packaging. They must also invest in marketing and advertising to raise awareness of their products and build brand recognition.
Growing Popularity of Private-Label Brands
Private label brands are products that retailers sell under their own label rather than the original manufacturer's label. Introducing private label brands in the U.S. sexual lubricant market has allowed retailers to offer their customers a wider range of products at a competitive price. This has increased competition in the market and given consumers more options to choose from.
Private label brands typically offer similar quality to established brands at a lower cost, making them a popular choice among cost-conscious consumers. Nevertheless, private-label brands constitute a significant chunk of the market share in the U.S., with retail sales worth over USD 50 million (about 15% of the U.S. market share).
Further, Trojan by Church & Dwight is the largest condom brand in the country. Although Trojan lubricants have not made significant progress in sales and acceptance among U.S. customers, brand awareness and a loyal Trojan condom user base are expected to fuel the growth of Trojan lubricants during the forecast period.
Increase In Festivals, Tradeshows, Expos
The U.S. sexual lubricant market has witnessed rising demand over the last couple of years due to increased festivals, trade shows, and expos related to sexual wellness. People in the U.S. are adopting enhanced and outspoken routes toward sexual wellness. With time, frequent efforts to relate sexual wellness with the daily routine are being emphasized.
Brands are constantly striving to reduce the misconception created between obscenity and the sexual wellness of individuals. The increase in the number of brands catering to the needs of women as a part of sexual wellness is further pushing opportunities for growth in the future. Such factors paved the way for sexual wellness festivals, adult trade shows, and expos over the past few years.
At the beginning of 2023, one of the sexual wellnesses B2B trade shows, "STIMULATE," is starting in Nashville, U.S. The tradeshow is created to connect industry suppliers, retailers, online sellers, and vendors. The tradeshow will offer complimentary retail education to the attendees.
Several brands will participate in the tradeshow with an opportunity to highlight their key innovative product offerings and explore a new method of reaching out to the audience. Institutional investors also watch such occasions to capitalize on suitable revenue-generating opportunities.
INDUSTRY RESTRAINTS
Stringent Regulatory Environment
In the U.S., sexual lubricants, depending on the content of the formula or the scope of use, are classified as either Class I or Class II medical devices by the US FDA and fall in the same category as condoms. Thus, to sell these lubricants in stores, vendors must obtain the premarket notification or 510(k) clearances. This is a lengthy process and requires a comprehensive round of safety tests. For instance, obtaining the 510(k) clearances may cost up to USD 200,000 and take two years.
These regulatory challenges can make it difficult for manufacturers to bring new and innovative products and limit U.S. sexual lubricant market growth. However, companies that can navigate these regulations and create products that meet customer needs and safety standards are well-positioned for success in this market.
MARKET DYNAMICS
Market Opportunities & Trends
- Focus on Female-Centric Sexual Wellness Products
- Focus on Promotional & Marketing Activities
- Influence of the Internet
- Popularity of Private-Label Brands
- Increase in Festivals, Expos & Tradeshows
Market Growth Enablers
- Prevalence of Erectile Dysfunction
- Availability of Gender-Neutral Products
- Surge in Demand from Baby Boomers
- Easy Access to Sexual Lubricants
Market Restraints
- Increased Concerns About Side Effects
- Stringent Regulatory Environment
- Low Confidence of Investors in Start-Ups
Industry Overview
- Government Policies & Regulations
- Distribution Landscape
- Microeconomic & Macroeconomic Factors
- Key Observations
- SWOT Analysis
- Branding Strategies
- Promotional Strategies
- Advertising & Marketing Strategies
- Pricing Analysis
VENDOR LANDSCAPE
Key Company Profiles
- BioFilm
- Church & Dwight
- Karex Berhad
- LifeStyles
- Reckitt Benckiser Group
Other Prominent Vendors
- CalExotics
- CC Wellness
- Elbow Grease
- Empowered Products
- Good Clean Love
- Guy & O'Neill
- ID Lubricants
- Live Well Brands
- Lovehoney Group
- Mayor Laboratories
- M.D. Science Lab
- SASMAR PHARMACEUTICALS
- Sensuous Beauty
- Sliquid
- Tenga
- The Yes Yes Company
- Topco Sales
- Trigg Laboratories
- XR Brands
SCOPE OF THE REPORT
Segmentation by Product
- Water-Based
- Silicone-Based
- Oil-Based
- Hybrid
Segmentation by Gender
- Male
- Female
Segmentation by Distribution Channel
- Offline
- Online
For more information about this report visit https://www.researchandmarkets.com/r/ibs9ay
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