New York, United States , Nov. 17, 2022 (GLOBE NEWSWIRE) -- According to a research report published by Spherical Insights & Consulting, the Europe Sex Toys Market Size to grow from USD 8.5 billion in 2021 to USD 16.4 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7.6% during the forecast period. During the forecast period, the market is expected to grow mostly because of things like spending more money and higher standards of living in developing economies. The business that makes novelty adult goods is getting closer and closer to the center of the sexual health market because more and more people of all ages want them.
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The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic situation has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The software segment to account for the largest market size during the forecast period
Based on the product, the Europe sex toys market is categorized into, Rings, Anal-Toys and Dildos. The software segment to account for the largest market size during the forecast period. When using a toys, the user will put the device on sensitive erogenous zones, which are parts of the body that can make a person feel more sexual pleasure.
The female segment to hold a higher CAGR during the forecast period
Based on the type, the Europe sex toys market is categorized into Male and Female. The female segment to hold a higher CAGR during the forecast period. Even though there used to be taboos and social stigmas about women's items, they are now easy to find on the market. Direct shelves in the wellness area are for products like toys, dildos, and anal beads. Toy companies have always marketed to women and made toys that look like parts of a woman's body. Male sex toys are becoming increasingly popular, which is thought to help the male sex toys market grow. Several supermarkets and online stores are now adding "wellness" sections to their product lines to make it easier for men who want to improve their sexual health to find sex toys and condoms.
Browse key industry insights spread across 200 pages with 131 market data tables and figures & charts from the report "Europe Sex Toys Market Size, Share, and COVID-19 Impact Analysis By Product, By Type (Male and Female), By Distribution Channel (E-commerce, Speciality Stores and Mass Merchandizers), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030. ” in detail along with the table of contents.
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The E-commerce segment is to hold a higher CAGR during the forecast period.
Based on the distribution channels, the Europe sex toys market is categorized into E-commerce, Specialty Stores, and Mass Merchandizers. The E-commerce segment is to hold a higher CAGR during the forecast period. The market is growing because more people have access to the internet and more sex toys can be bought through online marketplaces. When a customer buys something from an adult website instead of a traditional store, they can keep their privacy during the entire delivery process
Italy to hold a higher CAGR during the forecast period.
The Europe Sex Toys Market has been segmented into five major regions: Germany, France, the U.K., Italy, Spain, Rest of Europe. Germany is estimated to account for the highest market share in 2022. In Germany, the most popular things to buy are traditional toys and dildos. There are many well-known brands in the industry, like LELO, Lovehoney, Durex, and Fun Factory, which all meet the needs of the European population.
Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the key players in the Europe sex toys market are LELO, LifeStyles Healthcare, PTE LTD, Lovehoney Group Ltd., BMS Factory, TENGA Co., Ltd., FUN FACTORY GmbH, and WOW Tech International GmbH, among others.
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Recent Developments by the Key Players:
January 2021– Dame Products Co. launched its first-ever clit seduction toy, the Aer. The product has significant features such as a water resistance design that makes it stand out from the clit-focused toys and a larger and deeper suction opening, allowing it to work for clitorises of all sizes.
April 2021– Ann Summers announced the launch of an eco-friendly sex toy to mark National Earth Day 2021. The Womanizer Premium Eco was available at Ann Summers exclusively for two weeks from 22nd April and was designed to be Earth-friendly.
February 2020 – WOW Group launched a stay-at-home campaign with billboards that read SCREAM YOUR NAME across multiple sites.
July 2019 – Lifestyles Healthcare announced the launch of three new intimate accessories under its SKYN brand: SKYN Thrill, SKYM Vibes, and SKYN Shiver.
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