According to The Insight Partners’ research, the global sex toys market is anticipated to accumulate US$ 55,648.88 million by 2028 from US$ 30,974.79 million in 2020, expanding at 7.6% CAGR from 2021 to 2028. Changing perception of customers toward utilization of sex toys and increasing number of online sex toys retailers are the leading factors attributing to this expansion.
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. 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.
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Leading players formulating the competitive landscape of the global sex toys market are Crave, LELO, Lifestyles Healthcare Pte. Ltd, Unbound, Topco Sales, BMS Factory, Tenga Co. Ltd., Fun Factory GmbH, WOW Tech International GmbH, and Lovehoney Group Limited.
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 leading to the massive adoption of sex toys, especially by women. Increasing number of E-commerce platforms is one of the prominent reasons boosting the adoption of sex toys. Though the use of sex toys is being normalized, majority of the customers 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. On the other hand, the harmful chemicals in sex toys are likely hindering market augmentation.
Based on materials, the global sex toys market is split into silicone, metal, plastic, glass, and others. Among these, the silicone segment held 40.2% of the market share in 2020. The segment was gauged at US$ 12,443.70 million in 2020 and is projected to accrue US$ 23,113.36 million by 2028, growing at 8.1% CAGR between 2020 and 2028.
Based on gender, the market is bifurcated into male and female. The female segment captured 62% of the market share in 2020. It was assessed at 19,202.54 million in 2020 and is estimated to garner US$ 34,135.94 million by 2028, expanding at 7.5% CAGR during the forecast timeframe.
As per distribution channel, the global sex toys market is arrayed into e-commerce, specialty stores, and others. Among these, the e-commerce segment accounted for 44% of the market share in 2020. The segment was appraised at US$ 13,644.01 million in 2020 and is projected to accrue US$ 25,165.48 million by 2028, growing at 8.0% CAGR during 2020–2028.
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By geography, North America held a significant share of the global sex toys market in 2020. The market in North America garnered US$ 12,952.67 million in 2020 and is anticipated to amass US$ 23,694.65 million by 2028, expanding at 7.9% CAGR throughout. Meanwhile, Asia Pacific market is estimated to record a stellar growth rate of 8.1% CAGR between 2020 and 2028; it is expected to accrue US$ 12,718.60 million by 2028.
- In February 2021, TENGA Co. Ltd. announced the “TENGA ROCKET PROJECT.” The “TENGA ROCKET PROJECT” is 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.
- In August 2020, BMS Factory launched a new product within the Pillow Talk line. Pillow Talk is a collection that expresses beauty, fun, and power. Feisty is the perfect vibrator for those looking for a unique experience. The incredible insertable thrusting shaft has 2 speeds and 3 functions of vibrations and thrusts for nonstop pleasure.
- In June 2017, FUN FACTORY developed a new PULSATOR II toy—its latest toy for all lovers and sceptics.
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