Increase in instances of AIDS/HIV and STIs along with aggressive social media marketing strategies drive the growth of the global sex toys market. North America accounted for the highest share in 2020, and is expected to maintain its dominance by 2030. The Covid-19 pandemic impacted the global sex toys market positively. The lockdown restrictions and social distancing regulations led to increased adoption of sex toys.
Portland, OR, Oct. 18, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global sex toys market generated $38.68 billion in 2020, and is estimated to reach $47.61 billion by 2030, witnessing a CAGR of 4.3% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top investment pockets, regional landscape, key segments, value chain, and competitive scenario.
Increase in instances of AIDS/HIV and STIs along with aggressive social media marketing strategies drive the growth of the global sex toys market. However, reduced sexual acts hinder the market growth. On the other hand, surge in the millennial population and rise in investments in producing innovative products open up new opportunities in the coming years.
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The Covid-19 pandemic impacted the global sex toys market positively. The lockdown restrictions and social distancing regulations led to adoption of sex toys to gain pleasure and minimize the possibility of infection from other people.
However, disruptions in the supply chain and interruption in manufacturing activities during the lockdown impacted the market. There has been a supply-demand gap due to a sudden increase in demand.
Manufacturers have been investing massively in innovation and rethinking their supply chain strategies to cope up with the situation.
The report offers detailed segmentation of the global sex toys market based on product type, end use, distribution channel, and region.
Based on product type, the vibrators segment held the highest market share in 2020, accounting for nearly two-fifths of the total share, and is expected to continue its lead position during the forecast period. However, the rings segment is expected to register the highest CAGR of 4.7% from 2021 to 2030.
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Based on end use, the women segment held the largest share in 2020, accounting for more than three-fifths of the global sex toys market, and is projected to maintain its leadership status throughout the forecast period. However, the men segment is estimated to manifest the fastest CAGR of 4.8% from 2021 to 2030.
Based on region, North America accounted for the highest share in 2020, contributing to nearly half of the total share, and is expected to maintain its dominance by 2030. However, Asia-Pacific is projected to portray the fastest CAGR of 5.1% during the forecast period.
Leading players of the global sex toys market analyzed in the research include Adam & Eve Store, California Exotic Novelties, Llc, Bijoux Indiscrets, Church & Dwight Co., Inc., Caya Co-Operative Ltd., Hot Octopuss Limited, Doc Johnson Enterprises, Reckitt Benckiser Group Plc, Tenga Co., Ltd, and We-Vibe.
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