According to a new report published by Allied Market Research, titled, “Sex toys Market by Product Type, End-Use, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,”
The global sex toys market was valued at $38,689.3 million in 2020, and is projected to reach $47,615.4 million by 2030, registering a CAGR of 4.3%. North America was the highest revenue contributor, accounting for $17,843.5 million in 2020, with a CAGR of 3.7%.
Sex toys is the major segment in the sexual wellness industry. Sexual wellness is the physical, mental, and sexual well-being of a person, which can be achieved through the use of various products such as sex toys, contraceptives, lubricants, delay sprays, pregnancy testing kits, and vaginal sexual wellness products. In addition, these products that enhance pleasure of sexual experience, provide safety from sexually transmitted infections, and reduce the risk of unwanted pregnancy are considered as sexual wellness products. Sex toys are associated with various benefits such as it reduces the risk of unwanted pregnancy, STDs, and it doubles the joy of sex with or without a partner.
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Key Findings of The Study
By product type, the Vibrators segment held the highest share, accounting for 38.1% of the global sex toys market.
Based on end-user, the women segment held the major share of 63.1% of the market.
Region wise, North America held the major share in the market, and is expected to remain dominant throughout the forecast period.
Rings segment would witness the fastest growth, registering a CAGR of 4.7% during the forecast period.
Men Segment witnssed a major growth rate of 4.8%
Online Stores Segment held the major share of 29.8% in 2020
North America held the major share of 46.1% in 2020
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Based on end use, the women segment held the largest share in 2020, accounting for more than three-fifths of the global sex toys market, and is projected to maintain its leadership status throughout the forecast period. However, the men segment is estimated to manifest the fastest CAGR of 4.8% from 2021 to 2030.
Based on region, North America accounted for the highest share in 2020, contributing to nearly half of the total share, and is expected to maintain its dominance by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 5.1% during the forecast period.
Leading players of the global sex toys market analyzed in the research include Adam & Eve Store, California Exotic Novelties, Llc, Bijoux Indiscrets, Church & Dwight Co., Inc., Caya Co-Operative Ltd., Hot Octopuss Limited, Doc Johnson Enterprises, Reckitt Benckiser Group Plc, Tenga Co., Ltd, and We-Vibe.
The industry is highly competitive, due to the presence of several manufacturers. To attract customer, companies are focusing on introducing novel products such as fragranced wipes. Swago, for example, introduced cologne-scented alcohol wipes for people who do not prefer to carry perfume. Surge in demand for disposable wipes is expected to increase the use of natural fabric material alcohol wipes. In addition, rise in consumer demand for low-cost goods is projected to offer remunerative opportunities for the expansion of the global market during the forecast period. As a result, companies are focusing on product development and pricing, thereby contributing toward the overall market growth.
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