Global Sex Toys Market to Reach US$54.6 Billion by the Year 2026
The global market for Sex Toys estimated at US$35.1 Billion in the year 2020, is projected to reach a revised size of US$54.6 Billion by 2026, growing at a CAGR of 7.6% over the analysis period.
Vibrators, one of the segments analyzed in the report, is projected to grow at a 8.2% CAGR to reach US$25.9 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Dildos segment is readjusted to a revised 7.1% CAGR for the next 7-year period. This segment currently accounts for a 24.3% share of the global Sex Toys market.
Sexual Selfcare and wellness are being taken very seriously by consumers and a surge has been observed in the demand for creams and lotions for feminine wellness and sex toys for both sexes. Several manufacturers are focusing on health, beauty, and self-care and are launching new products and devices such as mini massager and air pulsing arouser, personal lubricant, and toy cleaning wipes.
Sexual wellness products such as gels and toys that are affordable are being introduced in the market and the stigma around selling sexual items in conventional stores is fading away. The change is anticipated to be because of the demographic shift, as the millennials have a different view of sexual wellness in comparison with the baby boomers. Gradual fading away of the stigma associated with masturbation, even among married couples is benefiting the market for sex toys.
Their adoption and use is growing especially among single women wanting to masturbate solo with sex toys such as vibrators, clitoral stimulators/suction vibrators, internal vaginal toys, cock rings, blowjob sleeves, and anal toys, among others.
The acceptance of the growing LGBTQ community is another major factor driving demand for sex toys. Steadily growing popularity of male sex toys, increase in online sales, development of technologically sophisticated products, and growing population are other factors driving growth in the market.
The U.S. Market is Estimated at $12.6 Billion in 2021, While China is Forecast to Reach $8 Billion by 2026
The Sex Toys market in the U.S. is estimated at US$12.6 Billion in the year 2021. The country currently accounts for a 33% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$8 Billion in the year 2026 trailing a CAGR of 10.4% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 6.1% and 7.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.4% CAGR while Rest of European market (as defined in the study) will reach US$4 Billion by the end of the analysis period.
Erection Rings Segment to Reach $7.8 Billion by 2026
In the global Erection Rings segment, USA, Canada, Japan, China and Europe will drive the 8.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4 Billion in the year 2020 will reach a projected size of US$7.1 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$753.7 Million by the year 2026.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Overcoming Stigma Surrounding Sexual Wellness Provides the Foundation for Growth in the Sex Toys Market
Omicron Variant Brings Back Memories & Fears of the Worst Part of the 2020 Pandemic
With New Strains Emerging at an Alarming Rate, Focus Shifts to Booster Doses & Vaccine Tweaking. But How Practical Is It to Implement Them?
At the Dawn of 2022, We Leave Behind Millions of Deaths Due to New Strains & Once Again Stare at an Impending Catastrophe
Split Scenarios Unfold: The Great Vaccine Divide Emerges
Amid this Prolonged Pandemic, Why Should Businesses Care About Progress on Vaccinations?
With IMF Making an Upward Revision of Global GDP for 2021, Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
Sex Toys: Definition, Types & Benefits
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 63 Featured)
California Exotic Novelties, LLC
FUN FACTORY USA, Inc.
Tenga Co., Ltd.
3. MARKET TRENDS & DRIVERS
COVID-19 Induced Lockdowns Brings About Positive Changes in Sexual Wellness Products Including Sex Toys
Growing Population Drives Increased Use of Sex Toys
Rising Acceptance of Sex Toys as Appropriate Wedding Presents Opens a New Avenue for Sales Growth
Acceptance of the Growing LGBTQ Community Drives Demand for Sex Toys
Connected Sex Toys Rise in Prominence
Steadily Growing Popularity of Male-centric Sex Toys to Give a Boost to Market Prospects
Surging E-commerce Market and Shifting Consumer Behavior Sustain Online Sales of Sex Toys
Development of Technologically Sophisticated Sex Toys and Continuous Innovation Bodes Well for Growth
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/b6ca3l
View source version on businesswire.com: https://www.businesswire.com/news/home/20220117005401/en/
Laura Wood, Senior Press Manager
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