East Asia Sexual Wellness Market Outlook and Forecast Report 2019-2024: Vendors are Utilizing Innovation as their Key Strategy to Gain a Competitive Edge
DUBLIN, Sept. 24, 2019 /PRNewswire/ -- The "Sexual Wellness Market in East Asia - Industry Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The East Asia sexual wellness market is expected to grow at a CAGR of more than 7% during 20182024.
The increasing demand for condoms and other sexual wellness products in China, Japan, and South Korea is driving the East Asia sexual wellness market. The growing openness toward the concept of sex is increasing growth opportunities in the sexual wellness market.
The presence of a large young population, the growth in per capita disposable incomes in several East Asian countries, and the increasing openness toward sexual fantasies are the significant factors contributing to the growth of the East Asia sexual wellness market. Branding has emerged as a critical strategy for vendors to create a lasting impression on the end-user. The use of social media is one of the most effective branding strategies, which is boosting the East Asia sexual wellness market. The rapid growth of the digital world is helping vendors to increase their reach and scope in the market. Attractive and informative branding and campaigning is emerging as a significant source of revenue for vendors.
Further, the increasing collaboration with government agencies for increasing awareness about STD, the growing use of contraceptives, the popularity of sexual education, and the acceptance of sexual wellness products among women are likely to boost the sale of sexual wellness products in socially restrictive societies such as East Asia.
East Asia Sexual Wellness Market: Segmentation
This market research report includes a detailed segmentation of the market by product, distribution channel, end-users, and geography. A high inclination toward adopting new technology in sexual wellness products is a significant factor, which is contributing to the growth of the market.
For instance, the introduction of sex dolls, which are manufactured in China, powered with artificial intelligence, is expected to disrupt the sexual wellness market worldwide. China has emerged as a key manufacturer of sex toys, which is encouraging other vendors to set up manufacturing units in the country. Further, Japan has also shown incremental growth in the demand for sex dolls due to low levels of sexual satisfaction in the aging population.
Condoms have emerged as a preventive solution for preventing STDs and decreasing fertility rates, thereby helping to evolve demographics changes and prevent the population explosion in East Asia. China and Malaysia are the key condom manufacturers. Further, the sex lubricants market is witnessing a rise in the demand for female-centric lubricants. Herbal sexual lubricants have noticed a significant growth in the East Asia sexual wellness market. Similarly, the exotic lingerie market is also witnessing strong demand from developing countries such as Singapore, Thailand, and South Korea.
The increasing likeness of males toward sexual wellness products is expected to drive the East Asia sexual wellness market during the forecast period. Further, the sexual wellness market has witnessed a shift as it is increasingly introducing women sexual products. The introduction of several female-centric products is driving the market.
Sexual wellness products are mainly sold through retail distribution channels such as specialty stores, supermarkets, hypermarkets, mass-market players, drug stores or pharmacies, and grocery stores. Sexual wellness product manufacturers are harnessing sex specialty stores and supermarkets due to personalized customer services, which is boosting the offline retail market. Although online purchasing is increasing, a significant share of sexual wellness product distribution takes place through sex specialty stores.
Key Vendor Analysis
Currently, the competitive landscape of the sexual wellness market is intensifying. Rapidly changing market dynamics is attracting new vendors and start-ups toward the East Asia sexual wellness market. China and Japan are highly fragmented markets. Thus, to gain a competitive edge, vendors are continuously looking for upgrades and innovations in the specified product segment.
Further, the influx of local vendors is high. The adoption rate of new products is relatively high in developed countries. However, vendors are utilizing innovation as their key strategy to gain a competitive edge in certain product segment such as sex dolls. The presence of low-cost manufacturers in the market is making the market more challenging for established brands. Thus, well-known brands are using the acquisition and mergers strategy to penetrate the market. Also, vendors are focusing on boosting the distribution channel and utilizing social media platforms to enhance their market shares.
Market Dynamics
Market Growth Enablers
- Rising Awareness About Contraception
- Growth in STDs
- Growth in Acceptance of Sexual Wellness Products
- Focus on Awareness Programs for Women
Market Growth Restraints
- Rise in Product Counterfeiting
- Sex Education Still a Taboo
- Limited Access to Sexual Wellness Products in East Asia
- Restricted Government Support
Market Opportunities & Trends
- Increasing Utilization of Digital Channels
- Branding via Campaigns
- Increasing Collaborations with Government Entities
- Millennials: Target Audience
Key Company Profiles
- Church & Dwight
- Diamond Products
- Karex Berhad
- Lifestyles (Lifestyles Holdco)
- Okamoto Industries
- Reckitt Benckiser
Other Prominent Vendors
- Bally
- BioGenetics
- Beijing Aimer
- BMS Factory
- Cosmo Lady
- Dongkuk Techco
- Dongguan Secret 365 Biotechnology
- Embry
- Fuji Latex
- Innolatex Limited
- Lealso International Sex Toy
- Meditex
- MTLC Latex
- Medevice3s
- Nulatex
- Orient Industry
- P.T. Vonix Latexindo
- Raquel Lingerie
- Sagami Rubber Industry
- Shandong Ming Yuan Latex
- Shanghai Dahua Medical Apparatus/PATH
- Tenga
- Thai Nippon Rubber Industry
- Tianjin Condombao Medical Polyurethane Tech
- Tianjin Human Care Latex Corporation
- Wmdolls Sextoy Technology
For more information about this report visit https://www.researchandmarkets.com/r/4sksbj
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