Sex Toys Market Size to Hit $ 93,817.82 Million by 2027 - COVID-19 Impacts and Global Analysis By The Insight Partners

Sex Toys market was valued at US$ 66,934.51 million in 2019 and is projected to reach US$ 93,817.82 million by 2027

NEW YORK, UNITED STATES, November 17, 2021 /EINPresswire.com/ -- According to The Insight Partners latest study on “Sex Toys Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product Type and Distribution Channel,” The report highlights the trends prevailing in the global sex toys market, and drivers and deterrents pertaining to the market growth.

Changing perception of customers toward utilization of harmful chemicals in sex toys and increasing number of online sex toys retailers are driving the growth of the sex toys market. However, restrain the market growth. Further increasing investment by sex toys manufacturers offer lucrative opportunities for the growth of the global sex toys market.

Strategic Insights;

Report Coverage (Details)
Market Size Value in (US$ 66,934.51 Million in 2019)
Market Size Value by (US$ 93,817.82 Million by 2027)
Growth rate (CAGR of 4.5% from 2020-2027)
Forecast Period (2020-2027)
Base Year (2020)
No. of Pages (160)
No. Tables (83)
No. of Charts & Figures (75)
Historical data available (Yes)
Segments covered (Material ; Gender ; Distribution Channel , and Geography)
Regional scope (North America; Europe; Asia Pacific; Latin America; MEA)
Country scope (US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina)
Report coverage (Revenue forecast, company ranking, competitive landscape, growth factors, and trends)

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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.

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.

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 market growth.

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.

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns.

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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 market in 2020, and it is expected to register the highest CAGR during the forecast period.

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 of the market. The growth of the segment is attributed to the changing perception of customers toward utilization of sex toys.

Sex Toys Market: Competitive Landscape and Key Developments

Crave; Lovehoney Group Ltd.; BMS Factory; Tenga Co., Ltd.; Fun Factory GmbH; WOW Tech International GmbH; LELO; Lifestyles Healthcare PTE LTD; and Unbound are among the prominent players operating in the sex toys market.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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More Research: https://www.openpr.com/news/2191819/sex-toys-market-anticipated-to-grow-rapidly-during-2027

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The Insight Partners
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