Changing Perception of Customers Toward Utilization of Sex Toys to Drive Market Growth During 2021-2028

According to the latest study on "Sex Toys Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Material, Gender, Product and Distribution Channel," the market was valued at US$ 30,974.79 million in 2020 and is projected to reach US$ 55,648.88 million by 2028; it is expected to grow at a CAGR of 7.6% during 2021-2028. The report highlights the trends prevailing in the global sex toys market, and drivers and deterrents pertaining to the market growth. The market growth is attributed to key factors such as changing perception of customers toward utilization harmful chemicals in sex toys of sex toys and increasing number of online sex toys retailers are driving the growth of the sex toys market. However, harmful chemicals in sex toys restrain the market growth. Further increasing investment by sex toys manufacturers offer lucrative opportunities for the growth of the global sex toys market.

Sex toys are especially designed for sexual stimulations. The toys help improve sexual performance, extend shorten foreplay, and satisfy a partner who needs more time to climax. Moreover, some of the customers utilize sex toys to have orgasm, fantasize, relax, fall asleep, and to simply feel connected to their own bodies. The perception of people about the use and adoption of sex toys is changing in the region. For instance, according to a survey conducted by Lovehoney in 2020, two third of population in the US has normalized the utilization of sex toys. Also, according to the survey population, sexual wellness is equally important along with physical and mental health.

The change in perception for sex toys among customers has encouraged the market players to develop advanced pleasure giving products. Moreover, the change is perception is also leading to the massive adoption of sex toys, especially by women. For instance, according to a research paper published by a group of researchers at University of Kassel, Kassel, Germany in 2016, an estimated two third women population in the US prefers to use sex toys for partnered sexual activities and masturbation. Further, surging number of adult shops in the region represents a shift in attitude toward sexual products, which, in turn is likely to drive the market growth.

Based on material, the sex toys market is segmented into silicone, plastic, metal, glass, and others. The silicone segment held the largest market share in 2020; the same segment is estimated to register the highest CAGR in the market during the forecast period. Based on gender, the sex toys market is segmented into female and male. The female segment held larger share of the market in 2020. However, the male segment is estimated to register the highest CAGR in the market during the forecast period. Based on product, the sex toys market is segmented into vibrators, dildos, anal toys, penis rings, BDSM toys, masturbation sleeves, sex dolls, clothing, and others. The vibrators segment held the largest market share in 2020; however, the penis rings segment is estimated to register the highest CAGR in the market during the forecast period. Based on distribution channel, the sex toys market is segmented into e-commerce, specialty stores, and others. The e-commerce segment held the largest share of the market in 2020 and the same segment is estimated to register the highest CAGR in the market during the forecast period.

Crave; Lovehoney Group Ltd.; BMS Factory; Tenga Co., Ltd.; Fun Factory GmbH; WOW Tech International GmbH; LELO; Lifestyles Healthcare PTE LTD; and Unbound are among the prominent players operating in the sex toys market. These players are focusing on product development and innovation to sustain their positions in the market. For instance, in September 2020, Lovehoney has acquired a fellow Swiss online sex toy retailer after achieving strong growth internationally.

The report segments the global sex toys market as follows:

By Material

- Silicone

- Plastic

- Metal

- Glass

- Others

By Gender

- Female

- Male

By Product

- Vibrators

- Dildos

- Anal Toys

- Penis Rings

- BDSM Toys

- Masturbation Sleeves

- Sex Dolls

- Clothing

- Others

By Distribution Channel

- E-Commerce

- Specialty Stores

- Others

By Geography

- North America

- Asia Pacific

- Middle East and Africa

- South and Central America

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com