Global sex toys market is going to experience a massive growth during the forecast period. E-commerce segment will be the most lucrative. Female segment will be the most profitable. North America will dominate the market.
The global sex toys market is expected to generate a revenue of $ 45,767.2 million at a CAGR of 7.9% during the forecast period, according to the recent report published by Research Dive. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, other market dynamics, restraints and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Market Dynamics: Growth Drivers, Restraints, Opportunities
Changing consumer perception about sexual enhancement are the factors behind the growth of the market. Growing popularity of sex toys among the LGBTQ community is also another driving factor. Moreover, the legalization of sex toys in many countries and awareness spread via social media platform are other factors attributing to the growth of the industry. Sex toys come with several features such as remotely connected devices, virtual devices and augmented reality devices. These the factors enhancing the growth of the market.
The high-costs associated with the products along with chemicals used in sex toys are expected to hinder the growth of the sex toys market.
Growing demand for products and growing e-commerce platforms are anticipated to generate enormous investment opportunities in the sex toys market.
The report has divided the market into different segments based on distribution channel, end-user, and regional analysis.
E-commerce Segment will become the Most Beneficial
E-commerce distribution channel will experience a significant growth and is estimated to generate a revenue of $26,956.9 million by 2026. This is mainly because of growing e-commerce business and key manufactures focusing to create awareness about sex toys products through e-commerce.
Female Segment will be the Most Profitable
Female sub-segment generated the largest market size in 2018 and is further projected to continue its leading positing during the forecast period. The reason behind this growth is the growing popularity and adoption of sex toys by females. About 69% of sex toys are being purchased by women across the globe.
North America to Dominate the Market
North America region generated the highest share in 2018 is further estimated to lead the market with $12,906.4 million by 2026. This growth is attributed to growing usage of sex toys products to enhance sexual experience in the region.
Key Players and Business Strategies
As per the report, the leading players of the global sex toys market include are -
- LELO
- LUVU BRANDS
- FUN FACTORY
- ANSELL LTD
- Lovehoney Group Ltd
- Tantus Technologies, Inc.
- CRYSTAL DELIGHTS
- BMS Factory
- Doc Johnson Enterprises
- ADAM & EVE STORES
- Spot of Delight
- Church & Dwight Co., Inc.
- WE-VIBE
The report also recapitulates many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Reference: https://www.researchdive.com/press-release/sex-toys-market.html
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