India was considered to be sex-negative market, but of late it is turning sex-positive, and as a result sexual wellness products are being sold readily. It is estimated that the current market stands at $1.4 billion and is likely to grow to $2.5 billion by 2033, with a growth rate of 6.2 per cent. The market potential can be judged from the fact that sexual wellness products are tapping 5 per cent of the total addressable market.
Some companies operating in this field are IMBesharam, ThatSassyThing, Mankind and MyMuse.
There are 12 million daily Google searches for products, key-words and interests related to sexual wellness. It is a signal that what was just a curiosity has turned into active intent.
These days women are more open to explore. It has broken the myth that women do not want these products. Organisations in this field report 30 per cent of their revenue is contributed by men buying products for their partners. Many products are bought by couples aiming to enhance their relationship. They like to experiment together.
Previously, people approached only pharma companies to buy the contraceptives. However, with the advent of quick commerce (Zepto, Instamart and Blinkit), people add sexual wellness products in their carts along with daily necessities. Organisations selling sexual wellness products say that 60 per cent of their sales come from quick commerce platforms. Another major channel to sell the products are the websites selling these products online (35 per cent). Only 5 per cent revenue comes from offline retailers. Quick commerce platforms are convenient, discretionary and faster.
Women-led purchases have shown a major shift. Almost half the products are bought by women buyers.The age group that purchases most products is from 25-44. Younger age group buy fun products, and elder ones the premium products.
The market is now restricted to urban areas but is spreading to Tier I and Tier II cities. The geographical spread is broadening.
The whole sector has its own sensitivity, making it necessary to communicate subtly, and make the products relatable. Consumers must be comfortable to engage with the organisation. The promotion is digital-first. Social media is used. The content is influencer-led. It is a challenging field as the category is socially sensitive. As a marketer, you should be smarter, educative and respectful.