The global water-based personal lubricant market is expected to grow phenomenally from 2017 to 2022 (forecast period), according to a report on Radiant Insights, Inc. Consumer awareness regarding the benefits of personal lubricants is the major driving factor of the market. The boom of the e-commerce industry and availability of online content has allowed men and women to explore their sexual fantasies.
The report “Global Water-based Personal Lubricant Market Professional Survey Report 2017” is available now at https://www.radiantinsights.com/research/global-water-based-personal-lubricant-market-professional-survey-report-2017
Water-based personal lubricants are sexual wellness products that allow easy penetration during sex.They are water soluble and preferred over silicon-based and oil-based lubricants by consumers, a fact that is likely to benefit the market. Preference for organic or natural ingredient-based lubricants is also expected to drive market demand during the forecast period.Inclusion of chemical elements in newer products to preventtransmission of sexually transmitted diseases is another factor driving consumer volume.
Change in cultural mores and increasing interest in sexual wellness among consumers are factors that can positively impact market growth. The compatibility of condoms with personal lubricants is expected to fuel market sales by 2022. In addition, interest in erotic fiction, products directed toward women, and rising media exposure can culminate in additional demand. Continued demand for oil-based lubricants, however, is seen as the biggest threat to market growth.
The worldwide water-based personal lubricant market is divided by type, application, and region. By type, the market is segmented into unisex, men, and women water-based personal lubricants.All of the product segments are predicted to expandat significant growth rates till 2022.
By application, the global market is bifurcated into offline and online stores. The offline store segment may display a high CAGR during the forecast period due to presence of supermarkets, retail stores, and drug stores and their various branches. The online store segment has an equal opportunity to attain a major market share due to popularity of e-commerce websites like Amazon.
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Region-wise, the market is fragmented into India, Japan, China, Europe, North America, and Southeast Asia. The Japan market is predicted to grow exponentially due to the launch of sex toys inbuilt with water-based lubricants. This is expected to strengthen its presence in the global market. The China and India markets are anticipated tooutdotheir competitors due to a large consumer base and sexual appetite. The North America market is expected to carve a niche for itself by housingsome of the largest manufacturers of female condoms. Foria Wellness, a Canadian company, has launched a one-of-a-kind cannabis-based personal lubricant. This is expected to positively impact the North American market demand.
Read more related reports by Radiant Insights:
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• Quick-dry Clothes Market- https://www.radiantinsights.com/research/2017-2022-quick-dry-clothes-report-on-global-and-united-states-market
Notable market players include Reckitt Benckiser Group plc; Ansell; Blossom Organics, Inc.; Good Clean Love; and Sensuous Beauty, Inc. Presence of several manufacturers and a large consumer base has led to product innovation. In addition, players engage their consumers through social media channels and tackling bedroom problems on online forums. Mergers and acquisitions are seen as a major business strategy to increase market share. For instance, Reckitt Benckiser Groupacquired the K-Y brand of products from Johnson & Johnson in 2014. It licensed its product to the British division of StadaArzneimittelin order to reduce the probability of price wars in the Europe market.
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