According to a new report published by Allied Market Research, titled, “Sex toys Market 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%.
The largest sector of the sexual wellness market is sex toys. Using items like sex toys, contraceptives, lubricants, delay sprays, pregnancy testing kits, and vaginal sexual wellness products can help a person attain sexual health, which is defined as their physical, mental, and sexual well-being. Additionally, goods that increase sexual pleasure, offer protection from STDs, and lower the risk of unintended pregnancy are referred to as sexual health products. Sex toys are linked to a number of advantages, including a decreased risk of unintended pregnancy and STDs as well as a doubled enjoyment of sex with or without a partner.
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According to leading CXOs, the global sex toy market is likely to open up lucrative economic prospects in developing economies, but it is also facing difficulties. In a decade, developing economies are anticipated to become important markets for sexual wellness products due to increases in STDs, STIs, and per capita income.
Consumers’ growing interest in and awareness of items also contributes to the market’s expansion. Increased improvements and innovations in sexual wellness products have contributed to the expansion of the market for sex toys in North America and Europe. For example, battery-operated vibrators and condoms lubricated with silicone have become extremely popular in developed nations like the United States, Germany, Norway, Sweden, and Japan.
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The sex toys market is classified by product type, end user, distribution channel, and region, per sex toys market analysis. The sex toys market study is segmented into vibrators, dildos, rings, and others based on product type. It is divided into genders based on the target user. It is separated into supermarkets and hypermarches, specialty shops, drug stores, and online retailers based on the distribution channel. North America, Europe, Asia-Pacific, and LAMEA are all included in the analysis of the market.
According to product type, the vibrators segment accounted for over two-fifths of the market share in 2020, and it is anticipated that this segment would maintain its dominant position during the forecast period. However, from 2021 to 2030, the rings segment is anticipated to grow at the greatest CAGR of 4.7%.
According to end use, the women’s segment accounted for more than three-fifths of the worldwide sex toys market in 2020, and it is anticipated that it will continue to have the highest share during the forecast period. However, it is predicted that the men’s segment will experience the fastest CAGR of 4.8% from 2021 to 2030.
According to region, North America had the biggest share in 2020, making up about half of the entire market, and it is anticipated that it will continue to hold the top spot by 2030. However, during the forecast period, Asia-Pacific is expected to exhibit the fastest CAGR of 5.1%.
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