Dubai, UAE, May 03, 2023 (GLOBE NEWSWIRE) -- Global Sex Toys Market Report 2023-2032:
As per the recent research report published by Extrapolate, the global Sex Toys Market was valued at USD 32.9 billion in 2022 and is anticipated to grow up to USD 75.5 billion by 2032. The market is projecting a CAGR of roughly 8.6% between 2023 and 2032, driven by increased awareness of sexual health and the acceptability of sexual experimentation.
According to a study, only one in ten Brits considered that casual sex was acceptable in 1999; however, by 2022, this percentage had increased to 42%, indicating growing desire and acceptance. People are increasingly discovering fresh, all-natural ways to spice up their personal or romantic relationships. This has opened the door for many brands to climax with cutting-edge features and concepts that just hit the mark.
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Trending Now: Tenuto 2 Is A Wearable Vibrator Designed to Tackle Erectile Dysfunction
MysteryVibe, a British-based firm, has developed a sexual aid that can be positioned over the male genitalia to facilitate the attainment and preservation of an erection while also providing stimulation to the partner during sexual intercourse. The Tenuto 2 device, resembling a cock ring, comprises four motors that are specifically designed to deliver focused vibration therapy to improve blood flow in the area. The product features two pliant wings situated at the base that firmly contract to impede the outflow of blood.
The objective of creating the device was to provide an affordable and more easily available option for treating erectile dysfunction (ED) compared to medications like Viagra (also known as sildenafil). Such medications typically require a prescription in many countries and can cause undesirable effects such as nausea and headaches. Besides its primary function, the device also doubles as a wearable vibrator, equipped with motors that stimulate various erogenous zones, including the wearer's perineum and the partner's clitoris.
The Global Sex Toys Market is Segmented into:
By Product:
- Vibrators
- Dildos
- Sex Dolls
- Masturbation Sleeves
- Bondage
- Nipple Toys
- Penile Toys
- Anal Toys
- Others
Vibrators Segment is Expected to Retain Market Dominance Due to Product Affordability
The vibrators segment dominated the market in 2022 due to its growing popularity. The primary factor attributable to the significant growth is the rising millennial fascination with sexuality and related activities. Vibrators are used more frequently as a result of their expanding availability as solo products and in combination with other products. Vibrators and dildo usage, in particular, have been significantly impacted by these products' extensive accessibility through online retail channels. Manufacturers have created a wide variety of products to satisfy numerous consumer preferences and financial constraints.
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By End-user
- Men
- Women
- Others
By Distribution Channel
- Sex Stores
- Online Stores
- Pharmacy/Chemist Stores
- Others
Online Segment is Projected to Lead Market Owing to Purchaser Discretion Advantage
The online segment is expected to dominate the global sex toys market over the forecast period. The segment is anticipated to grow as a result of rising internet usage and the easy accessibility of sex toys through a variety of e-commerce platforms. The segment’s growth is majorly attributed to the increase in internet usage and the ease of access to sex toys.
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Technological Innovation for Sexual Experimentation to Attract More Consumers
The global sex toys market is expected to witness significant growth throughout the projection period driven by the rise in millennials' sexual tastes and growing consumer awareness of sex toys. Moreover, problems related to stress, frustration, busy schedules, medicine, age disorders, and hormone issues are projected to reduce a person's sexual stamina; which in turn has increased the demand for sex toys, mainly among young couples.
Using cutting-edge technology to create novel products is one of the latest trends in the sex toys market. The market is anticipated to transform in the next years as a result of virtual gadgets, remotely connected devices, robots, immersive entertainment, and augmented reality. For instance, an Australian business called EXOLOVER PTY LTD. creates adult novelty gadgets with blockchain technology, enabling remote control.
Presence of Prominent Sex Retail Shops and Manufacturers in North America to Promote Sales
North America is projected to lead the sex toys market share in the foreseeable future. The regional market is anticipated to grow significantly as a result of several factors such as social acceptance and a liberal sexual lifestyle in the United States and Canada, as well as the availability of numerous adult stores, which will ultimately increase demand for adult novelty products. The first quarter of 2020 saw an upsurge in sex toy sales for North American manufacturers such as Doc Johnson in the U.S. and Cal Exotics in Ontario.
Sex toys are anticipated to contribute to the market in North America's growth as a result of their rising popularity as gifts. Numerous producers and merchants provide products with easily accessible customizable settings that can be adjusted in accordance with a person's preferences, level of arousal, and other considerations.
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Competitive Landscape
On account of the existence of both international and local firms, the global market is highly competitive. With cutting-edge technology, manufacturers are introducing some of the most expensive and unique products to their customers in order to gain a competitive edge. For instance, a few market participants are concentrating on couple sex toys. Suction vibrators, wand vibrators, oral stimulators, and clitoral stimulators gained immense popularity in 2021. Furthermore, Stylecaster introduced an oral sex stimulation gadget in 2021.
Prominent market players in the market include:
- Wow Tech Group
- ANSELL LTD.
- Reckitt Benckiser Group plc
- LELO iAB
- Tantus
- Church & Dwight Co., Inc.
- com
- Doc Johnson Enterprises
- Luvu Brands, Inc.
- Dame Products, Inc.
Browse Complete TOC: https://www.extrapolate.com/toc/healthcare-medical-devices-biotechnology/sex-toys-market/87470
Key Points from TOC:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact on Global Sex Toys Market
Chapter 5. Global Sex Toys Market Overview, By Product, 2018 - 2032 (USD Million)
Chapter 6. Global Sex Toys Market Overview, By Distribution Channel, 2018 - 2032 (USD Million)
Chapter 7. Global Sex Toys Market Overview, By End-user, 2018 - 2032 (USD Million)
Chapter 8. Global Sex Toys Market Overview, By Geography, 2018 - 2032 (USD Million)
Continued…….
Part II: Global Packaged Sexual Wellness Market Estimated to Grow Upto USD 120.3 Billion By 2028
As per the latest research report published by Extrapolate, the global Packaged Sexual Wellness Market was valued at USD 85.3 billion in 2021 and is projected to reach USD 120.3 billion by 2028. The market is projecting a CAGR of roughly 6.3% between 2021 and 2028 driven by an increasing need for sexual wellness, sexual dysfunction, and the wide implications for health and well-being.
The United States, Sweden, the Netherlands, and other major countries in Europe all have laws protecting LGBT individuals from discrimination. Legislative safeguards for same-sex partnerships and marriages are anticipated to promote the growth of the global sexual health market. The number of festivals, trade shows, and expos devoted to sexual wellness has increased recently, which has led to surging demand for products related to sexual health. People are taking a more proactive and outspoken approach to sexual health globally.
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Trending Now: Tabu, a Sexual Wellness Company, Explores New Frontiers in Sexual Wellness for Women Over 50, Transforming A Cultural Taboo
When talking about women over 50, the topic of sex is still taboo. Up to 90% of women report experiencing pain or discomfort during sex as a result of hormonal and lifestyle changes, but only 25% seek medical attention for their symptoms. As a result, almost 50% of people give up on having sex, which harms their relationships and general health.
In order to develop a new brand identity, packaging, and e-commerce website for Tabu's high-end, scientifically supported sexual wellness kit, as well as several planned new product launches, Tabu hired SMAKK as its marketing agency. In order to debunk the notion that sexual health has an expiration date, this required restructuring the brand to be more approachable, respectable, and credible.
Condoms are High in Demand Owing to Rising Support from Governments Globally
Global market shares for packaged sexual wellness products were dominated by the condom segment. This growth is attributable to the easy availability of condoms in the region and widely used in both urban and rural populations due to favorable government support. The appeal of male condoms among people looking for protection during sexual activity is further bolstered by their efficiency in avoiding pregnancy and the spread of STIs. Pharmacies generally provide a wide range of condom brands and types, including latex and non-latex options, at affordable costs.
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Growing Sexual Health Awareness Among Women to Create Prominent Growth Prospects
The women segment dominated the global packaged sexual wellness market share owing to the rising popularity of sexual wellness products among women. The growth of the global packaged sexual wellness market is further being driven by several factors such as the rising number of working women, gender neutrality, sex education, and sexual health awareness. Female contraceptives are becoming increasingly common among women due to their various benefits, such as reducing STIs and unplanned pregnancies.
Proactive Positive Affirmation of Sexual Well Being to Promote Market Growth
The number of festivals, trade shows, and expos devoted to sexual wellness has expanded recently, which has led to a growth in the demand for products related to sexual health. Throughout the world, people are taking a more proactive and outspoken approach to sexual health. With time, it becomes more crucial to link sexual wellness to routine activities. Companies work tirelessly to dispel the idea that vulgarity and people's sexual health are connected.
The primary factor driving the growth of the global packaged sexual wellness industry is the increasing government assistance for the provision of free condoms. Women's condoms have become increasingly popular as a result of the rising incidence of STDs and unintended pregnancy. For instance, the Dutch government provides free condom distribution at homosexual saunas and pubs with darkrooms all around the nation.
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Liberalization of Sexual Well-Being in North America to Churn Revenue Opportunities
In 2021, North America had the greatest market share for packaged sexual health products, and it is predicted to retain the growth in the foreseeable future. Expenditure on sexual products has increased in the region, which can be related to the stigma associated with sexual well-being and health fading away and sexual health becoming a topic of common conversation.
For instance, in the US, according to a poll of 2,300 people conducted by BespokeSurgical, Nevada is third with expenditure activities with approximately 23.8% above average, and California ranks second with spending, approximately 28.1% above average on sex items.
As a result, the usage of condoms for contraception and STI/HIV prevention has increased. In the U.S., people between the ages of 15 and 44 commonly use condoms, but several important variables affect condom usage, including sexual orientation, ethnicity, and sex education.
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Prominent Players Are Heavily Invested in R&D Activities to Bolster Market Positioning
The market for packaged sexual wellness products is highly consolidated since only a few key players dominate it globally. These competitors enjoy large market shares and have established brands. The stigma that once prevented investors from supporting projects concerning items for sexual well-being has changed recently. Angel investors are increasingly backing the manufacturers of sexual wellness products since the stereotypical attitude has undergone a major change.
Market players include:
- Lifestyles
- Church & Dwight Co., Inc.
- TENGA Co., Ltd.
- Lioness
- Meditim
- Hot Octopuss
- CalExotics
- Pipedream Products, LLC
- Bijoux Indiscrets
- Reckitt Benckiser Group plc
- Okamoto Industries, Inc.
- Karex Berhad
- Doc Johnson Enterprises
- Mankind Pharma
- TTK Healthcare Ltd.
- Gizmoswala
Browse Complete TOC: https://www.extrapolate.com/toc/Retail/packaged-sexual-wellness-market/25620
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