Sex Toys Market Research Report and Outlook by 2028

The global market for sex toys was valued at approximately US$ 30,974.79 million in 2020 and is anticipated to grow to US$ 55,648.88 million by 2028, reflecting a compound annual growth rate (CAGR) of 7.6% from 2021 to 2028.

This market expansion can be primarily attributed to the evolving attitudes of consumers towards the use of sex toys, alongside the increasing number of online retailers specializing in these products. However, the presence of harmful chemicals in some sex toys poses a challenge to market growth. On the other hand, the rising investments from manufacturers in the sex toy industry present significant opportunities for further development in the global market.

The surge in e-commerce platforms is a key factor driving the acceptance and purchase of sex toys. While the normalization of sex toy usage is evident, many consumers still prefer to maintain anonymity when buying such items. Online shopping provides a discreet option for customers, which has led to an increase in sales. Additionally, a notable number of new market entrants are capitalizing on the substantial potential within this sector. For example, Ella Paradis launched its operations in the United States in 2015, focusing on customized products for sexually active adults through its online platform. A study conducted by the company revealed a 10% increase in sex toy usage in the U.S. during the pandemic, highlighting the growing trend of online purchasing in this market.

Since the onset of the COVID-19 pandemic, there has been a significant rise in reported cases globally. As of May 3, 2021, the United States had recorded 33,230,561 cases and 591,514 deaths, with similar trends observed in Mexico and Canada. Governments worldwide have implemented various measures, including quarantine and travel restrictions, to mitigate the spread of the virus. These actions have disrupted numerous industries, including pharmaceuticals, leading to temporary shutdowns and supply chain challenges.

The impact of COVID-19 on human sexuality has been widely discussed across various media platforms. For instance, the New York Times published an article titled "Coronavirus and Sex: Questions and Answers," while VICE Magazine explored how sex workers are adapting to the pandemic. The emergence of online communities, such as the "LGBTI COVID-19 Response" group on Facebook, underscores the importance of addressing sexual and reproductive health during crises, as these issues are integral to overall well-being. Innovative products like the "Kissenger machine," which allows for remote kissing via mobile devices, have gained attention. The pandemic has heightened interest in high-tech sex toys, often referred to as "teledildonics," as people seek ways to maintain intimacy during periods of isolation.

Sales of sex toys have surged during the pandemic, with the UK experiencing a 13% increase, Canada seeing a remarkable 135% rise, and Italy reporting a 71% increase. Companies such as Adam and Eve noted a 30% increase in online sales during March and April 2020 compared to the previous year. Similarly, Wow Tech Group, which owns brands like We-Vibe and Womanizer, reported a staggering 200% increase in online sales in April 2020. Other companies, including Cotr Inc., experienced sales that were three times higher than the previous year during the same period. Ella Paradis also released a report detailing consumer behavior changes during the pandemic, revealing that 51% of respondents reported increased masturbation, and there was a 10% rise in sex toy usage.

The sex toys market is categorized based on material, gender, product type, and distribution channel. In terms of material, the market includes silicone, plastic, metal, glass, and others, with silicone holding the largest market share in 2020 and projected to grow at the highest CAGR. Gender segmentation reveals that the female demographic accounted for the largest market share, although the male segment is expected to grow at a faster rate. Product-wise, the market encompasses vibrators, dildos, anal toys, penis rings, BDSM toys, masturbation sleeves, sex dolls, clothing, and more, with vibrators leading in market share. The distribution channels include e-commerce, specialty stores, and others, with e-commerce dominating the market and expected to continue its rapid growth.

Key players in the sex toys market include Crave, Lovehoney Group Ltd., BMS Factory, TENGA Co., Ltd., FUN FACTORY GmbH, WOW Tech International GmbH, LELO, LIFESTYLES HEALTHCARE PTE LTD, and UNBOUND, among others.

In preparing the report on the global sex toys market, various secondary sources were consulted, including the Food Safety and Inspection Service, the Food and Drug Administration, and the European Medical Association.