The global sex toys market size was valued at USD 33.64 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 8.04% from 2021 to 2028. Increased spending capacities and improved standard of living in developing economies are the factors expected to drive market growth during the forecast period.
One of the growing trends in the sex toys industry is the adoption of cutting-edge technology for the development of innovative products. Virtual gadgets, remotely connected devices, robots, immersive entertainment, and augmented reality are factors expected to change the landscape of the market in the coming years. For instance, EXOLOVER PTY LTD. is an Australian startup that develops adult novelty devices using blockchain technology, allowing remote interaction and sharing real-time intimate sensations.
The global market for sex toys is projected to observe considerable growth over the forecast period, owing to the increasing awareness and changing perception of consumers about sex toys. By distribution channel, the E-commerce sub-segment is estimated to grow at fast rate by 2026. Regionally, the Asia Pacific market is predicted to observe exponential growth in the estimated timeframe.
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Liberalization, penetration of social media, and the influence of pop culture have resulted in increasing awareness about the importance of sexual health. Moreover, the nonexistence of manufacturing regulations for sex toys allows the manufacturers to develop female and male-centric products without any restrictions of reporting the material or chemical used in the products. Manufacturers are thus at liberty to develop a large number of products under the label of novelty toys. Products such as vibrators, dildos, e-stimulators are widely used by both the gender for sexual stimulation.
Key Player Mentioned:
Church & Dwight Co., Inc.
Reckitt Benckiser Group plc
LELO
LifeStyles Healthcare Pte Ltd
Doc Johnson Enterprises
Lovehoney Group Ltd
BMS Factory
PinkCherry
Tenga Co., Ltd.
Fun Factory
Product Segment Analysis:
Female
Male
Application Segment Analysis:
E-Commerce
Specialty Stores
Mass Merchandizers
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Regional Segment Analysis:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
The global market is highly competitive with the presence of global and regional manufacturers. Manufacturers are launching some of the most luxurious and exotic products using advanced technology. For instance, in July 2019, Life Styles Healthcare announced the launch of three new intimate accessories under its SKYN brand-SKYN Thrill, SKYN Vibes, and SKYN Shiver.
Marketing strategies used for these products are changing. Manufacturers are working on removing the pornographic image associated with sexual wellness products and rebranding the use of vibrators as a healthy means of improving sex life. Some of the prominent players operating in the global sex toys market are:
COVID-19 Impact:
The outbreak of the COVID-19 pandemic has significantly increased the demand for antiviral medicines globally. The treatment of novel coronavirus has increased the demand for broad-spectrum Glucose to manage the disease. Remdesivir, favipiravir, oseltamivir, and other combination medicines are highly prescribed for the treatment of COVID-19. Moreover, governments are increasing funding to pharmaceutical companies to develop novel therapeutics against COVID-19. For instance, in June 2021, the U.S. government has announced an investment of more than USD 3 billion to fasten the discovery, development, and manufacturing of antiviral medicines for COVID-19 treatment. The rising incidence of disease coupled with increasing R&D will increase the demand for Glucose in the next 2 to 3 years.
KEY aspects covered in the report include:
- The market size and industry growth rate of the global and regional market across various segments
- The region or the sub-segment that is expected to drive the Sex Toys market in the forecast period 2021-2028
- Key companies operating in the global Sex Toys market and their market share
- The Factors that are estimated to drive the Sex Toys Market growth
- Key opportunities in the Sex Toys market
- Key technological advancements and market trends that shape the market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
