DUBLIN--(BUSINESS WIRE)--The "Sex Toys Market Size, Share & Trends Analysis Report By Type (Female, Male), By Distribution Channel (E-commerce, Specialty Stores, Mass Merchandizers), By Region, And Segment Forecasts, 2019 - 2026" report has been added to ResearchAndMarkets.com's offering.
The global sex toys market size is expected to reach USD 52.7 billion by 2026, exhibiting a CAGR of 9.1%
Use of innovative technology for designing and manufacturing of sex toy is anticipated to augment growth during the forecast period.
Users are moving from traditional vibrators and penile rings to devices that can be operated via mobile applications. In April 2017, We-Vibe, a Canadian manufacturer, launched its two-way controlled We-Connect app that was made available free of cost on Apple and Android devices. The company reported 2 million customers are using its products worldwide.
Moreover, social media and movies have significantly influenced the millennials and future generations in accepting sex toys as a healthy means of enhancing their sexual life. Manufacturers are using these opportunities to increase market presence. For instance, in February 2017, Lovehoney launched Fifty Shades Darker Pleasure Collection. The collection had a range of sex toys designed with temperature response material for an enhanced sexual experience.
Further key findings from the study suggest:
- Female sex toys is the fastest growing segment. Single women are among the leading contributors to the market
- A survey performed by Lovehoney in 2017 shows 65% of vibrators were purchased by single women
- Availability of rechargeable, noiseless, compact, and portable vibrators for men and women is expected to impel growth. In March 2019, BMS Factory announced the success of its brand Palmpower - a mini rechargeable vibrating wand launched in December 2018
- Manufacturers are trying expand customer base through e-commerce sites. In developing countries where adult stores are not easily accessible, online retailers are meeting customer demand by offering different range of products via discrete delivery and an added advantage of discounted rates.
- North America held the largest share in 2018. Open-mindedness about enhancing sexual experience during solo or with partner intercourse is driving demand for novelty products in the U.S. and Canada.
- Asia Pacific is the fastest growing sex toys market during the forecast period. China and Australia are the leading revenue generators for the market.
- However, India is expected to exhibit fastest growth as online retailers are experiencing demand upsurge.
- Doc Johnson Enterprises
- Church & Dwight Co., Inc.
- Reckitt Benckiser Group Plc
- Lovehoney Group Ltd.
- Lifestyles Healthcare Pte Ltd
- Bms Factory.
- Tenga Co., Ltd.
- Fun Factory
For more information about this report visit https://www.researchandmarkets.com/r/w7j5mq