Global Personal Lube Market Size to Worth $1.4 billion by 2022 | Latest Market Research Report by Arizton AdvisoryPosted:
The global personal lube market is projected to grow from $953.27 million in 2016 to $1,412.38 million by 2022.
CHICAGO, IL, UNITED STATES, January 2, 2018 /EINPresswire.com/ -- Arizton’s recent market research report on the global personal lube market segments the market by product type (water-based sexual lubricant, silicone-based sexual lubricant, oil-based sexual lubricant, and hybrid sexual lubricant), distribution channels (retail and online), and geography (North America, EMEA, APAC, and Latin America).
The top 3 drivers and trends in the global personal lube market are discussed below:
High Availability of Sexual Lubricant Products
Increasing awareness among end-users and growing availability of lubricants are propelling the growth of personal lubes in the global market. The prominence of online stores is offering easy access to a wide variety of sexual wellness products in different developing and emerging countries in the global market. The increasing initiatives undertaken by leading manufacturers and NGOs to promote the awareness about personal lubes and expand their distribution systems will fuel the demand for these products in the global market. Commercial and non-commercial outlets are some of the widely popular distribution channels for product distribution, including personal lubes across different regions in both developed and emerging markets. Further, the initiation of awareness programs coupled with the free distribution of condoms and personal lubes in under-developed and developing locations can effectively boost the adoption of the product during the forecast period.
Increased Acceptance among Women
Increasing acceptance of personal lubes among women across the world is driving the demand for these products in the global market. The lack of natural lubrication during sexual intercourse, which leads to vaginal dryness and causes irritation is one of the major factors contributing to the adoption of personal lubes among women. According to recent studies and surveys, sexual lubricants are gaining popularity among women, as these lubricants are perceived as products to improve the comfort during sexual intercourses and reduce vaginal tearing. In a recent study conducted by the Center for Sexual Health Promotion at IU's School of Health, Physical Education and Recreation, Indiana University, more than 65% of the respondents involved in the study reported that the use of lubricants made sexual intercourse more pleasurable and comfortable. Such factors will drive the market for personal lubricants during the forecast period.
Introduction of Private Labels Increases Market Competition
Brands such as Durex Play and K-Y dominate the global personal lube market constituting over 40% of the total market share. The introduction of private labels is intensifying the competition in the global personal lube market. Private label brands constitute a significant portion of market share in the US with their retail sales worth over $50 million. The vendors in the global personal lube market are focusing on improving their sales strategies to boost their market revenues and increase the brand awareness to gain a larger consumer base.
Ansell, BioFilm, Church & Dwight, Karex Berhad, and Reckitt Benckiser are the leading vendors in the sexual lubricant market.
The complete overview of the latest market research report on the global personal lube market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and provides the market size and forecast for major geographical regions and key countries.
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