The global sex toys market accounted a revenue of approximately $24,929.0 million in 2018 and is expected to rise at a CAGR of 9.2%; it is anticipated to reach $49,705.7 million by the end of 2026.
In recent years, the global sex toys market experienced a healthy growth, and during the unpredicted COVID-19 emergency, the market is anticipated to experience an additional growth in 2020, due to growing demand for sexual enhancement devices. This growth is mainly owing to growing consumer popularity for purchasing sex toys because most sex toys are designed to look similar to human genitals. This study is designed to understand the condition of the global sex toys market in the coronavirus emergency period, and the below inferences.
|Realtime BPS||*Estimated market Size, 2020,
|**Real Time market Size, 2020,
|7.9%||9.2%||127||USD 28,931.2 Million||USD 29,701.5 Million|
* The numbers are estimated prior to the COVID-19 Pandemic in 2020
** The data will vary depending on upcoming developments announced by the operating players
KEY ASPECTS OF THE INDUSTRY
BOOMERS AND DECLINERS
Sex toys are also referred to as adult toys and these devices are majorly used to improve the sexual involvement of people. There are various number of sex toys available, such as massagers, dildos, vibrators and others, and people use these devices to enhance sexual desire between partners. These devices are used for treatment of menopausal symptoms such as lichen sclerosus, vulvodynia, and gynae cancer. Due to benefits of sex toys, swift change in consumer perception about sex toys along with increasing awareness among people about health benefits of sex toys are significantly driving the growth of the market. In addition, legalization of sex toys in several countries due to penetration of social media and pop culture is expected to boost the market growth in the forecast years. This expected growth is attributed to growing acceptance of sex toys to enhancing sexual life.
However, the cost associated with sexual improvement products coupled with risk of chemicals that are used in making of sex toys are major restraints for the growth of the market. Also, risk associated with the addition of using sex toys may further limit the market growth in the forecast years.
The COVID-19 emergency has impacted the global sex toys market in a positive direction. As per the recent evidence and data, COVID-19 illness is not a sexually transmitted disease, however, it can pass through close contact with infected person while having sex. This means there is a potential risk of transmitting the coronavirus through physical touching if the person has the virus. This factor is significantly driving demand for sex toys due to growing product demand. This expected growth is attributed to quarantining and physical distancing. The situation is incompatible for sex with partners, and sexual desire and pleasure are natural human needs and emotions; thereby people are choosing sex toys along with sexually related products to fulfill their sexual desires during quarantine.
Since the emergency began across the globe to curb the virus spread, there is massive surge in the demand for sexual enhancement products and sex toys. Thus, sex toys and sexually related product shops across the globe have witnessed a boom in product sales during the pandemic. For instance, Swedish premium sex toys brand LELO, has experienced massive surge in their sales and increased by 40% from early this year.
MANAGING SUCCESS AMIDST
THE PANDEMIC STRESS
The global sex toys market will experience a significant growth in 2020 and is projected to continue its trend throughout the forecast timeframe. This growth is mainly attributed to increasing number of online retailers due to rapid growth in the e-commerce platforms along with increasing awareness about sex toys usage due to social media and pop culture penetration. These factors are expected to create ample growth opportunities in the global market. This increase in demand is boosting many manufacturers to launch novel designs and advanced products to increase their product sales in the global market. For instance, LELO leading sex toys manufacturer is developing innovative sexual enrichment devices by using block chain technology that enables remote interaction with the device.
In addition, many healthcare professionals are suggesting sex toys for the treatment of sexually related problems in the people. For example, some medications can impact sexual pleasure and function in both male and female including antidepressants, cancer treatment, blood pleasure and heart medicines, and many doctors are suggesting use of sex devices for such health problems. This factor is expected to accelerate the sex toys market growth in the forecast years.
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Our group of skilled analysts provide a solution to help the companies to survive and sustain in this global pandemic. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts. Our study helps to acquire the following:
- Long-term and Short-term impact of Covid-19 on the market
- Cascading impact of Covid-19 on the Sex Toys Market , due to the impact on its extended ecosystem
- Understanding the market behaviour pre- and post-Covid-19 pandemic
- Strategic suggestions to overcome the negative impact on your business or turn the positive impact into an opportunity