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%.
As per the perspective of top-level CXOs, the global sex toys market is expected to unleash attractive business opportunities in developing economies, however, is dealing with challenges simultaneously. With increase in STDs, STIs and per capita income, developing economies are further expected to emerge as major markets for sexual wellness products in a decade.
Increase in interest for products and their awareness among consumers further boosts the market growth. Increased innovations and improvisation in the sexual wellness products has further aided to the growth of the sex toys market in the North America and Europe region, for instance, battery enabled vibrators, silicone lubricated condoms gained immense popularity in the developed countries including, U.S. Germany, Norway, Sweden and Japan.
Key players in the market have adopted new product launch, continuous innovation, and acquisition as their key developmental strategies to fulfill the rising demand for advanced and improved sex toys products. Vibrators and dildos, has gained major popularity in female segments, which is further promoting the growth of sex toys market during forecast period.
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According to sex toys market analysis, the sex toys market segmented into product type, end user, distribution channel, and region. On the basis of product type, the sex toys market report is categorized into vibrators, dildos, rings, and others. By end user, it is segregated into women and men. According to distribution channel, it is divided into supermarket & hypermarket, specialty store, drug store, and online stores. The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The vibrators segment dominated the global market with around 38.1% share of the overall revenue in 2020. The rings segment is expected to witness significant growth during the forecast period. This is attributed to the growth in awareness regarding sexually transmitted infections (STIs), unwanted pregnancies, and increase in adoption of female vibrators devices especially in developed countries such as the U.S., Japan, and Germany.
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Key findings of the study
- 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
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.
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