As economy fails to perk up, sex stimulation products grow fastest in pharma sector
What the economy needs is what people are after stimulation. Indians are buying sexual enhancement products like never before, making companies like Dabur, Emami and Mankind Pharma launch innovative products in this segment and sell them hard.
Sex stimulator, or rejuvenator, products are now the fastest-growing category in India's pharmaceutical market, growing 19.1 % to Rs 400 crore in the year ended February, 2013 according to PharmaTrac, an online database that tracks 18,000 pharma stockists across India.
This sexual revolution thats shaking up things in a dull & stressful economy isnt just about popping pills to increase libido. From vagina-tightening cream and stiffness gel to special products for diabetics & asthma patients, a slew of innovative products are entering the market as increasing stress in daily life takes its toll & people shed their sexual inhibitions.
Consumers are increasingly seeking such products, but till now they had limited options by way of credible brands and companies, says Mr. Anil Kaushal, Category Head, Dabur India, which recently launched Shila-X oil that works as a muscle toner. Our brands operate in the rejuvenating category, adding vitality, vigour & stamina, he says.
He claims that Daburs libido enhancer Shilajit Gold is among the countrys top 10 most searched items on the Internet. One factor driving this demand is that such products are no longer considered taboo. Also, women are opening up to sexual enhancement products. People are becoming more aware of their sexuality now, says Dr Prakash Kothari, the countrys most famous sexologist. There are now many women coming to clinics, a trend unheard of a few years ago. And these women are not afraid to tell their husbands that if they dont perform, they could walk out of marriage too, adds the Padma Shri award winner. While roadside quacks,specialist babajis and small unorganised companies have been selling magic oils, pills and powders that promised to enhance sexual performance for long, they seldom enjoyed consumer trust in both effectiveness and safety. The entry of established companies and their aggressive marketing changed that. Besides their clout in distribution and marketing, these
And the rest is a story of vigorous growth that is expected to go on for many years as the industry is still in its early stages & the market potential is huge. Companies are now competing to offer specialised products in line with changing consumer needs.
In today's lifestyle and stress, people are so tired that they can not concentrate on their life, says Mr. K.C. Abraham,MD, Kunnath Pharmaceuticals, Makers of Musli Power, one of the largest libido enhancer products in the country.
After selling just one product, Musli Power, for eight years, Kunnath added 5 specialised products to its portfolio past year. The company that spent over Rs. 35 crore on advertising last year hopes to cross Rs. 1,000-crore revenues in 2017, from Rs. 150 crore in 2012.
Src: ET - SAGAR MALVIYA & DIVYA RAJAGOPAL MUMBAI
