Report : Asia Pacific Personal Lubricants Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Lubricant Type (Water-Based, Silicone-Based, and Oil-Based) and Distribution Channel (E-Commerce, Drug Stores, and Others)
The water-based segment by lubricant type is estimated to lead the market growth during the forecast period.
According to a new market research study of “Asia Pacific Personal Lubricants Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Product, Application, End User and Country.” The Asia Pacific personal lubricants market is expected to reach US$ 653.32 million by 2028 from US$ 300.16 million in 2021; it is estimated to grow at a CAGR of 11.8% from 2021 to 2028. The report highlights trends prevailing in the Asia Pacific personal lubricants market and the factors driving market along with those that act as hindrances.
Developing economies have massive scope for business development for the companies operating in the personal lubricant markets. Populations in these countries are adopting various products related to sexual activities, such as sex toys. Several start-ups have entered the regional markets. For instance, Oddity Healthcare Private Limited, India, offers personal lube products in the region. The company sells its products online, which helps it reach maximum customers. In September 2021, Reckitt Benckiser Group PLC (Durex) is expected to launch its “Made for India” innovation strategy. Personal lubricants are also readily available in local stores and online retail stores. These products have significant applications in sex toy usage. The manufacturers are focusing on the use of technology to enhance the capabilities of the personal lubricant products and associated markets. The growing number of product launches contributes to the spread of awareness about them among the population. In January 2020, OhMiBod launched BlueMotion NEX|3, a Bluetooth-enabled and application-controlled vibrating ring for couples. This new functionality enables users to listen to music on their mobile phones while enjoying the rhythm and beat of songs through their vibrator.
The rapid spread of COVID-19 infection has affected various Asian countries, such as India, South Korea, Australia, Malaysia, and Singapore. Countries in Asia Pacific are facing challenges due to the increasing incidences of COVID-19. Currently, India is the second worse-hit country worldwide. Customers in this region are adopting modern methods of self-sex pleasure and using various products that require personal lubricants for their functioning. The major market players in Asia-Pacific implement a variety of growth strategies to boost their revenues, and they continue to do the same during the pandemic as well. Hot Spot, one of Australia's largest online adult stores, announced a significant 42% rise in revenue in March 2020, compared to the sales recorded in March 2019. Therefore, the COVID-19 pandemic is estimated to have a positive impact on the personal lubricants industry.
The Asia Pacific personal lubricants market, based on product, has been segmented into water-based, silicone-based, and oil-based. The Asia Pacific personal lubricants market, by application, is segmented into e-commerce, drug stores, and others. Geographically, the Asia Pacific personal lubricants market can be sub-segmented into India, Japan, China, Australia, South Korea and Rest of Asia Pacific.
Lovehoney Group Ltd., LIFESTYLES HEALTHCARE PTE LTD, Mayer Laboratories, Inc., Church & Dwight, Inc., Reckitt Benckiser Group Plc, Sliquid, LLC, BioFilm, Inc., Uberlube Inc, The Yes Yes Company Ltd. and Trigg Laboratories are among the leading companies operating in the Asia Pacific personal lubricants market.
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