According to The Insight Partners’ research, the global sex toys market accounted for US$ 30,974.79 million in 2020 and is expected to hit US$ 55,648.88 million by 2028 to rise at an annual growth rate of 7.6% from 2021 to 2028. Changing perception of customers toward the utilization of sex toys and increasing number of online sex toys retailers are the critical factors fueling the market expansion.
Sex toys are specially designed for pleasure and stimulation. They help enhance sexual performance, extend the foreplays, and satisfy partners till the climax. Besides, several customers utilize the toys to have an orgasm, fantasize, relax, fall asleep, or simply feel connected to their bodies. People’s perception about the use and adoption of sex toys is changing over the period. This can be validated by the survey of LoveHoney in 2020, which put forth that 2/3rd of the US population has normalized the use of sex toys. Another population survey revealed that sexual wellness is as important as physical and mental health. Major market players are focused on developing enhanced pleasure-giving products. Women are contributing more to the global sex toys business. An estimated 2/3rd of women in the US population prefer sex toys during partnered sex or masturbation. Moreover, the rising number of adult shops in the region has expanded the sex toys market.
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Key players dominating 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 Ltd, among others.
- In October 2017, LELO launched LELO SONA, a new clitoral stimulation sex toy.
- In July 2019, Lifestyle Healthcare launched three new intimate accessories under its SKYN brand, namely, SKYN thrill, SKYN vibes, and SKYN shiver.
- In December 2019, BMS Factory launched new products under its palm power brand. In August 2020, the company launched a new product within the Pillow Talk line. Pillow Talk is a collection expressing beauty, fun, and power.
- In February 2021, TENGA introduced the new TENGA advisory help to choose the best from all-new TENGA CUP series. From 2018 to 2020, the company received the red dot design award consecutively for TENGA FLEX, TENGA SPINNER, and TENGA FLIP ORB series.
Our regional analysis states that North America captured 41.8% share of the business in 2020. It was valued at US$ 12,952.67 million in 2020 and is likely to reach US$ 23,694.65 million by 2028, surging at 7.9% CAGR for the forecast period. The market in Asia Pacific was assessed at US$ 6,829.55 million in 2020 and is forecasted to be worth US$ 12,718.60 million by 2028.
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Increasing number of e-commerce platforms has been one of the prominent reasons fueling the pleasure products market. Although the use of sex toys is normalized in several regions, people still mask their identity while purchasing. Therefore, online or e-commerce platforms allow customers to hide their identity while shopping, leading to the higher online sales. Moreover, a number of novice players are stepping into the business due to substantial market potential. For instance, a company named Ella Paradis, started the business in the US in 2015 by offering customized products to sexually active adults. The company stated in its research that sex toys adoption in the US grew by 10% during the pandemic period. Thus, the rising utility of the products with growing online suppliers drives the global sex toys market.
On the other hand, harmful chemicals in sex toys impede the growth of global sex toys market.
Based on material, the market is split into silicone, plastic, metal, glass, and others. The silicone segment occupied 40.2% market share in 2020 with a revenue total of US$ 12,443.70 million. It is projected to be worth US$ 23,113.36 million by 2028 to grow at 8.1% CAGR during 2021–2028.
As per the gender, the sex toys market sphere is categorized into female and male. The female segment held 62.0% market share in 2020. It was evaluated at US$ 19,202.54 million in 2020 and is estimated to garner US$ 34,135.94 million by 2028, expanding at 7.5% CAGR along the forecast period.
According to the distribution, the global sex toys market is categorized into e-commerce, specialty stores, and others. The e-commerce segment led the domain in 2020 with 44.0% market share amassing US$ 13,644.01 million. It is slated to accrue US$ 25,165.48 million by 2028, propelling at 8.0% CAGR over the forecast period.
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