The global sex toys market is expected to post a CAGR of close to 7% during the period 2019-2023, according to the latest market research report by Technavio.
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With the increasing awareness and changing perceptions of users, sex toys are gaining immense popularity across the world. A large variety of sex toys are currently available in the market which includes romantic toys, luxury love devices, and kinky play toys. The growing acceptance of sex toys, where they are no longer considered taboo, has allowed many couples to enhance their sexual lives with the use of sex toys such as vibrators. Further, the presence of online channels such as Amazon.com Inc. and specialty sex toy stores enable consumers to purchase these products with ease and without embarrassment. These factors will fuel the growth of the sex toys market during the forecast period.
As per Technavio, the growing awareness of the health benefits of sex toys will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global sex toys market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global sex toys market: Growing awareness of health benefits of sex toys
With many researchers emphasizing the importance of sex toys for therapy, people are increasingly becoming aware of sex toys and their health benefits. For instance, women are increasingly opting for sex toys post gynecological surgery to keep the vaginal tissue flexible. It also helps in preventing atrophy, which can lead to painful sex and vulval pain conditions such as vulvodynia. Sex toys such as dilators and vibrators can also treat vaginismus, which involves involuntary contraction of muscles around the opening of the vagina. Further, sex toys help in reducing stress and anxiety, as sexual activity results in the release of endorphins in the body that can block pain. Therefore, the growing awareness about the health benefits of sex toys among people will drive the growth of the global sex toys market.
“The e-commerce market is booming globally with the significant rise in the Internet penetration. The growing e-commerce business is playing a pivotal role in the growth of the sex toys market with vendors leveraging the platform to make a variety of products available to a widespread population. Thus, the increase in availability of these products through the online channels will augment market growth during the forecast period,” says a senior research analyst at Technavio.
Global sex toys market: Segmentation analysis
This market research report segments the global sex toys market by product (adult vibrators, dildos, erection rings, and others), distribution channels (retail outlets and specialty stores, and online stores) and geographic regions (Asia, Europe, North America, and ROW).
The adult vibrators segment held the largest sex toys market share in 2018. Vendors offer a large variety of vibrators, including external vibrators, internal vibrators, and dual-purpose vibrators. The market also has adult vibrators that are designed specifically for couples. This is leading to the increased adoption of adult vibrators in the market.
The Asia region led the market in 2018, followed by Europe, North America, and ROW respectively. The market in Asia is driven by factors such as the availability of low-cost raw materials and labor along with growing supply chain network across Asian countries.
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