New Adult Stores Market Research Highlights Recovery Path for Businesses from COVID-19 based on Products - Sex Toys, Condoms, and Personal Lubricants | Technavio

LONDON--(BUSINESS WIRE)--The new Adult Stores Market Research from Technavio indicates Positive and Superior growth in the short term as the business impact of COVID-19 spreads.

"One of the primary growth drivers for this market is the increasing LGBT population,” says a senior analyst for the Consumer Staples industry at Technavio. “People around the globe, particularly in countries in the Americas and EMEA, are coming out to identify themselves as a part of the lesbian, gay, bisexual, and transgender (LGBT) community by accepting their sexual orientation. The purchase volume of sexual wellness products, sexual enhancement supplements, dildos, and lubricants is increasing among the LGBT population due to the easy availability of these products through e-commerce websites. Furthermore, the LGBT community is gaining support from various online experts such as sexologists, doctors, and therapists, which, in turn, is increasing spending on sexual wellness products. As the markets recover Technavio expects the adult stores market size to grow by USD 8.27 billion during the period 2020-2024.

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Adult Stores Segment Highlights for 2020

• The adult stores market is expected to post a year-over-year growth rate of 8.28%.
• Sex toys dominated the market in 2019.
• The sex toys market is growing with the changing perception of individuals in society toward sex toys such as vibrating rings, dildos, and vibrators. The exposure that these sex toys have been getting from the media in recent years has also impacted their demand positively.
• The growth of the segment can be attributed to the sale of vibrators in large numbers, especially through online stores.
• The high growth rate of this segment has attracted many start-ups that have introduced market-changing products with disruptive technologies, such as wearable adult vibrators that have completely changed the market dynamics.

Regional Analysis

• 39% of the growth will originate from the APAC region.
• Technological innovations, the increasing awareness of sexual wellness products, and the emergence of e-commerce start-ups will significantly drive adult stores market growth in this region over the forecast period.
• China and Japan are the key markets for adult stores in APAC. Market growth in this region will be faster than the growth of the market in Europe, MEA, and North America.

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Notes:

• The adult stores market size is expected to accelerate at a CAGR of almost 8% during the forecast period.
• The adult stores market is segmented by product (sex toys, condoms, personal lubricants, and others), distribution channel (online retail stores and adult and specialty stores), and geography (APAC, Europe, MEA, North America, and South America).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Ansell Ltd., Church & Dwight Co. Inc., Doc Johnson Enterprises, LELOi AB, Luvu Brands Inc., Reckitt Benckiser Group Plc, Tantus Inc., TENGA Co. Ltd., The Aneros Co., and WOW Tech International GmbH.

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Coverage
Regions Covered
Worldwide

Topics Covered
COVID-19, Adult Stores, Sex Toys, Condoms, and Personal Lubricants