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)
Market Introduction
Personal lubricants refers to gels or liquids that are used and applied by males or females during sexual intercourse to eliminate friction, reduce pain and enhance pleasure. These lubricants are prominently used to curb vaginal dryness and chaffing and are considered to be the most effective and easiest remedies.
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Market Overview and Dynamics
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. Key factors boosting the market growth include the increasing use of personal lubricants and rising adoption of sex toys across Asia Pacific. However, the availability of alternatives for personal lubricants restrains the market growth.
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.
Key Market Segments
The Asia Pacific personal lubricants market, based on product, has been segmented into water-based, silicone-based, and oil-based. The water-based segment is likely to hold the largest share of the market in 2021. Moreover, it is anticipated to register the highest CAGR during the forecast period, due to their incumbent usage, high consumption volumes, and product innovation.
The Asia Pacific personal lubricants market, by application, is segmented into e-commerce, drug stores, and others. In 2021, the e-commerce segment is likely to hold the largest share of the market. The market for the same segment is expected grow at the fastest CAGR during 2021–2028.
Major Sources and Companies Listed
A few of the primary and secondary sources associated with this report on the Asia Pacific personal lubricants market are the India Brand Equity Foundation (IBEF), National Center for Biotechnology Information (NCBI), and Japan Direct Marketing Association (JADMA).
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ASIA PACIFIC PERSONAL LUBRICANTS MARKET SEGMENTATION
By Lubricant Type
- E-Commerce
- Drug Stores
- Others
- China
- India
- Australia
- South Korea
- Japan
- Rest of Asia Pacific
Company Profiles
- Lovehoney Group Ltd.
- LIFESTYLES HEALTHCARE PTE LTD
- Church & Dwight, Inc.
- Reckitt Benckiser Group Plc
- Sliquid, LLC
- BioFilm, Inc.
- Uberlube Inc
- The Yes Yes Company Ltd.
- Trigg Laboratories
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- Lovehoney Group Ltd.
- LIFESTYLES HEALTHCARE PTE LTD
- Church & Dwight, Inc.
- Reckitt Benckiser Group Plc
- Sliquid, LLC
- BioFilm, Inc.
- Uberlube Inc
- The Yes Yes Company Ltd.
- Trigg Laboratories
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