Asia Pacific Sex Toys Market is expected to reach US$ 12,718.6 million by 2028

Silicone Segment has the Largest Share of Material in the Asia Pacific Sex Toys Market during 2021–2028

According to The Insight Partners market research study on “Asia Pacific Sex Toys Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material, Gender and Distribution Channel,” is expected to reach US$ 12,718.6 million by 2028 from US$ 7,367.1 million in 2021. The market is estimated to grow at a CAGR of 8.1% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific sex toys market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the changing perception of customers towards utilization of sex toys and an increasing number of online sex toys retailers. However, the market is expected experiencing slow growth during the forecast period owing to the harmful chemicals in the sex toys.

The involvement of major players in the Asia-Pacific region implements a variety of growth strategies to increase its revenue during the pandemic situation. Recently, in February 2021, TENGA Co., Ltd. Introduced the NEW TENGA Advisor help to choose best choice in All-New TENGA CUP Series. Similarly, in February 2021 TENGA Co. Ltd. announced the “TENGA ROCKET PROJECT”, The a project wherein TENGA will be funding the launch of IST’s ballistic observation rocket “MOMO”, alongside the sale of multiple cross-collaboration items as part of a larger launch promotion to be sold on TENGA’s Japanese E-commerce and multiple pop-up shops across Japan. Moreover, increasing e-commerce channels support the growth of the market. As compared to March 2019, Hot Spot, one of Australia's largest online adult toy stores, announced a significant 42% rise in revenue for the month of March 2020. Similarly, Gold Coast city has outperformed the national average, with residents buying 78% more goods in March 2020 than in March 2019. Therefore, the outbreak of the COVID-19 pandemic is estimated to affect high impact on sex toys industry.

The market for sex toys market is segmented into material, gender, and distribution channel. Based on material, the sex toys market is segmented into metal, silicone, plastic, glass, and others. In 2020, the silicone segment accounted for the largest share, moreover the same segment is expected to grow at the highest CAGR during the forecast period. Silicone adult toys are also tasteless, odorless, hypoallergenic, anti-allergic, waterproof (therefore easy to clean) and nontoxic. Their durable properties also enable them to be heated up, cooled down and can be washed in the dishwasher. All these advantages are driving the growth of the silicone segment market.

LifeStyles Healthcare PTE LTD, Lovehoney Group Ltd., BMS Factory, TENGA Co., Ltd., and WOW Tech International GmbH are among the leading companies in the Asia Pacific Sex toys market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in December 2020, BMS Factory has expanded its playing field with PalmPocket Extended – a set of 3 silicone attachment heads designed for use with none other than the PalmPower Pocket.

The report segments the Asia Pacific Sex Toys market as follows:

By Material

• Metal
• Silicone
• Plastic
• Glass
• Others

By Gender

• Male
• Female

By Distribution Channel

• E-Commerce
• Specialty Stores
• Others

By Country

• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
  • Rest of Asia Pacific