LONDON--(BUSINESS WIRE)--The global female sex toys market 2019-2023 is expected to post a CAGR of more than 11% during the forecast period, according to the latest market research report by Technavio.
Various companies and organizations are undertaking several sexual wellness initiatives to promote awareness about the importance of sexual health. Furthermore, vendors are also focusing on crowdfunding campaigns to launch new female sex toys. Thus, increasing sexual awareness and wellness initiatives, as well as crowdfunding campaigns, are expected to encourage the sale of female sex toys during the forecast period.
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As per Technavio, the growing preference for customized female sex toys will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Female Sex Toys Market: Growing Preference for Customized Female Sex Toys
The female sex toys market is witnessing an increased demand for customized and custom-made products. Consumers demand products that deliver great performance and durability and cater to their various needs. Thus, vendors are allowing end-users to customize their female sex toys online. The availability of customized female sex toys will increase the sales of such models and allow vendors to gain a competitive advantage. Thus, customization is expected to be one of the key female sex toys market trends during the forecast period.
“Apart from the growing preference of customized female sex toys, other factors such as the increase in online sales will have a significant impact on the female sex toys market growth during the forecast period,” says a senior analyst at Technavio.
Global Female Sex Toys Market: Segmentation Analysis
This market research report segments the global female sex toys market by distribution channel (retail outlets and specialty stores, and online stores), and geographic regions (North America, Europe, APAC, South America, and MEA).
The APAC region led the female sex toys market in 2018, followed by North America, Europe, South America, and MEA, respectively. The growth of the female sex toys market share in APAC can be attributed to the increasing sale of female sex toys through mobile apps and online platforms. However, strict regulations on the sale of female sex toys by various countries remain a major challenge in the market.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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