LONDON–The latest market research report by Technavio on the global sex toys market predicts a CAGR of around 7% during the period 2017-2021.
The report segments the global sex toys market by distribution channels (retail outlets and specialty stores, and online stores), by product (adult vibrators, dildos, erection rings and others), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global sex toys market, according to Technavio researchers:
- Growing online sales: a major market driver
- The demand for adult vibrators is expected to grow at a CAGR of close to 15% during the forecast period.
- APAC dominated the global sex toys market with close to 46% share in 2016
- Ansell, BMS Factory, LELO, LUVU BRANDS, and Doc Johnson are the leading players in the global sex toys market.
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Market growth analysis
The online channel is the most preferred purchase medium for customers purchasing sex toys owing to the increased privacy and the multiple options it offers. For instance, an e-commerce platform like pleaZure takes utmost care of its customer's privacy during the purchase of the products. Online stores are also becoming a one-stop solution for customers with relevant product suggestions based on their search history. The other value-added feature of online stores for its customers is the availability of reviews and recommendations by the users, which is not possible through retail purchases. Moreover, online stores also help users to differentiate between brands and to compare prices of various products. Thus, the online channel offers access to a wide variety of options, reviews and privacy, which is driving the growth of the global sex toys market.
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Technavio researchers anticipate high growth for the global sex toys market in APAC. This region is the largest and the fastest growing market owing to the high population along with increasing disposable income. The presence of large customer bases in countries like India, China, Japan, Singapore, Indonesia, and Thailand has resulted in high revenue contribution from these countries.
According to Amber Chourasia, a lead analyst at Technavio for research on health and wellness, “High internet penetration has also helped increase the demand for sex toys in these countries, allowing ease of purchase and privacy. People are beginning to consider 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. For instance, India has seen the rise of many startups such as ThatsPersonal.com and IMBesharam.com in the sexual wellness industry.”
Competitive vendor landscape
The global sex toys market is a competitive and fragmented market. It comprises many regional and international vendors. Competition among vendors has intensified, leading to the introduction of many innovative and advanced products in the market. Leading players such as BMS Factory, which manufactures and markets adult toys, has expanded its presence in the luxury sex toys market with the launch of its LEAF brand in November 2011.
Vendors are also capitalizing on the popularity of online media to bring in a competitive edge. Retail players who do not have a presence in the online space run the risk of losing their market share. As a result, several manufacturers have invested in online websites to tap into the e-commerce potential. For instance, LUVU BRANDS markets its products through websites such as liberator.com, theliberator.co.uk, jaxxliving.com, and avanacomfort.com.
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