Publication Month: Sep 2022 | Report Code: TIPRE00015794 | No. of Pages: 193 | Category: Medical Device | Status: Published
Increasing number of E-commerce platforms is one of the prominent reasons boosting the adoption of sex toys. Though the use of sex toys in the region is being normalized, majority of the customers in North America prefer hiding their identity while purchasing sex toys. Online or E-commerce platform allows customers to hide their identity while purchasing such products, leading to the increase in purchase of sex toys. Moreover, considerable number of market players are actively entering into the market due to substantial market potential. For instance, in 2015, the company named Ella Paradis started its operation in the US. The company is engaged in offering customized products for sexually active adults through its E-commerce platform. Moreover, the company has also conducted a study in the US, which states that the use of sex toys in the US has grown up by 10.0% during the pandemic period. Such growing presence of online retailers and preference for online platforms to buy sex toys are estimated to drive the growth of the Global sex toys market during the forecast period.
|Market Size Value in||US$ 30,974.79 Million in 2020|
|Market Size Value by||US$ 55,648.88 Million by 2028|
|Growth rate||CAGR of 7.6% from 2021 to 2028|
|No. of Pages||193|
|No. of Tables||111|
|No. of Charts & Figures||85|
|Historical data available||Yes|
|Segments covered||Material, Gender, Product and Distribution Channel|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
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Sex toys are especially designed for sexual stimulations. The toys help improve sexual performance, extend shorten foreplay, and satisfy a partner who needs more time to climax. Moreover, some of the customers utilize sex toys to have orgasm, fantasize, relax, fall asleep, and to simply feel connected to their own bodies. The perception of people about the use and adoption of sex toys is changing in the region. For instance, according to a survey conducted by Lovehoney in 2020, two third of population in the US has normalized the utilization of sex toys. Also, according to the survey population, sexual wellness is equally important along with physical and mental health.
The change in perception for sex toys among customers has encouraged the market players to develop advanced pleasure giving products. Moreover, the change is perception is also leading to the massive adoption of sex toys, especially by women. For instance, according to a research paper published by a group of researchers at University of Kassel, Kassel, Germany in 2016, an estimated two third women population in the US prefers to use sex toys for partnered sexual activities and masturbation. Further, surging number of adult shops in the region represents a shift in attitude toward sexual products, which, in turn is likely to drive the growth of sex toys market.
In terms of material, the global sex toys market is segmented into silicone, plastic, metal, glass, and others. The silicone segment held the largest share of the market in 2020, and it is expected to continue its dominance and register the highest CAGR in the sex toys market during the forecast period.
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Based on distribution channel, the global sex toys market is segmented into e-commerce, specialty stores, and others. The e-commerce segment held the largest share of the sex toys market in 2020, and it is expected to register the highest CAGR during the forecast period.
Surging e-commerce business has played a key role in the growth of the sex toys market by ensuring the availability of a wide range of products to the general population. High internet penetration has helped increase the demand for sex toys allowing ease of purchase and privacy. People are considering these products as essential and not something frivolous. This has resulted in many vendors investing in this region, thus providing products with better designs and features. In the past few years, online retailing has concentrated into the hands of few big players. Lovehoney, internationally, and Finnish Kaalimato.com are both perceived as reliable due to their size and visibility. Some shops rely on multichannel retailing model and according to the owners of such stores these two forms support each other. Our research shows that the current sex toy boom is closely linked to the online marketing of sex toys. Leading online department stores such as Amazon.com and Alibaba.com offer various sex toys. Product descriptions, product photos, and customer reviews are easily accessible online, with no age restrictions. The internet has expanded and diversified the market, made sexual products more accessible and affordable, thus normalized their use. Also, vendors are capitalizing on the popularity of online media to bring in a competitive edge. Retail players who do not have a presence in the online space run the risk of losing their market share. As a result, several manufacturers have invested in online websites to tap into the e-commerce potential. For instance, LUVU BRANDS markets its products through websites such as liberator.com, jaxxliving.com, and avanacomfort.com.
Collaborations and technology partnerships by the players in the sex toys market to bridge the demand–supply gap is anticipated to play a significant role in the growth of the sex toys market during the forecast period.