Sex Toys (Business) Market Size Exceed To Reach $47,61 Million by 2030 | Asia-Pacific portray the fastest CAGR of 5.1%

Allied Market Research

PORTLAND, OREGON, UNITED STATES, May 25, 2023 / -- According to the report published by Allied Market Research, the global sex toys market generated $38.68 billion in 2020, and is estimated to reach $47.61 billion by 2030, witnessing a CAGR of 4.3% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top investment pockets, regional landscape, key segments, value chain, and competitive scenario.

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Increase in instances of AIDS/HIV and STIs along with aggressive social media marketing strategies drive the growth of the global sex toys market. However, reduced sexual acts hinder the market growth. On the other hand, surge in the millennial population and rise in investments in producing innovative products open up new opportunities in the coming years.

Rise in sexual interests of millennial and awareness regarding sex toys products are expected to boost the market growth during the forecast period. In addition, issues such as hectic & busy schedules, stress, frustration, medication, aging problems, and hormonal issues are likely to reduce sexual stamina of individuals; hence wellness products such as sex toys supplements gained have gained major popularity among young couples.

Technological up gradation in sexual wellness products is majorly attracting consumers to buy and use the products. Many key players in the industry are upgrading products to stand apart from their competitors. Now sex toys are available sensor, which is further anticipated to positively influence the global sex toys market throughout the forecast period.

According to sex toys market analysis, the sex toys market segmented into product type, end user, distribution channel, and region. On the basis of product type, the sex toys market report is categorized into vibrators, dildos, rings, and others. By end user, it is segregated into women and men. According to distribution channel, it is divided into supermarket & hypermarket, specialty store, drug store, and online stores. The market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Based on product type, the vibrators segment held the highest market share in 2020, accounting for nearly two-fifths of the total share, and is expected to continue its lead position during the forecast period. However, the rings segment is expected to register the highest CAGR of 4.7% from 2021 to 2030.

Based on end use, the women segment held the largest share in 2020, accounting for more than three-fifths of the global sex toys market, and is projected to maintain its leadership status throughout the forecast period. However, the men segment is estimated to manifest the fastest CAGR of 4.8% from 2021 to 2030.

Based on region, North America accounted for the highest share in 2020, contributing to nearly half of the total share, and is expected to maintain its dominance by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 5.1% during the forecast period.

Leading players of the global sex toys market analyzed in the research include Adam & Eve Store, California Exotic Novelties, Llc, Bijoux Indiscrets, Church & Dwight Co., Inc., Caya Co-Operative Ltd., Hot Octopuss Limited, Doc Johnson Enterprises, Reckitt Benckiser Group Plc, Tenga Co., Ltd, and We-Vibe.

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