LONDON--(BUSINESS WIRE)--Technavio analysts forecast the sex toys market in Japan to grow to USD 2,640.3 million by 2021, at a CAGR of close to 8% over the forecast period, according to their latest report.
The research study by Technavio on the sex toys market in Japan for 2017-2021 provides a detailed industry analysis based on the distribution channel (online stores; and retail outlets and specialty stores) and product type (dildos, vibrators, and cock rings).
|Online retail stores will be the fastest-growing segment of the sex toys market in Japan as this channel has high consumer acceptance. The advantage of privacy and various other features that support discussions on product features and performance through chats and forums also drive the sales through this channel.|
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Technavio analysts highlight the following three factors that are contributing to the growth of the sex toys market in Japan:
- Evolving perception of sex toys
- Emergence of 3D printing technology
- Proliferation of strategic initiatives
Evolving perception of sex toys
“The perception towards sexuality and sexual experimentation have been changing, with consumers becoming more sexually empowered with increased awareness and a supportive environment. This shift in attitude is driving the market for sex toys,” says Amber Chourasia, a lead analyst at Technavio for health and wellness research.
Various masturbation aids such as vibrators and dildos are available through numerous retail and online channels. Also, the increased acceptance of atypical sexual practices such as BDSM and diverse sexualities such as homosexuality are positively impacting the market.
Emergence of 3D printing technology
Traditionally, sex toys were designed to resemble human sex organs. However, with increased product acceptance and rising demand for innovative products, vendors are designing products that combine design and functionality to break away from conventional designs.
Vendors use the 3D printing technology to produce products, which combine aesthetics and mechanics with good quality material. Consumers have the option to customize their products based on their requirements. The strong presence of online platforms is accelerating the demand for such innovative products.
Proliferation of strategic initiatives
“Innovation and effectiveness of sexual wellness products are key to market growth, which is the main factor determining the success and survival of the retail and specialty and online adult stores. Vendors are entering into strategic alliances and investing in R&D for product innovation,” says Amber.
Strategic alliances aid in improving the financial stability of companies to develop latest products with enhanced efficiency and safety. These strategic decisions create additional revenue streams for companies and aid in increasing market shares by successfully leveraging the customer base, technology, financial capability, and R&D capabilities of their partners.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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