Higher spending capacity and better living standards in developing nations are likely to fuel the sex toys market expansion over the forecast period. With the expanding appeal for these products among all age groups, novelty adult items are establishing a mainstream position in the sexual health market. Acceptance of the LGBTQ community and a growing interest among women in experimenting with sexual health products without trepidation encourage the use of such goods and, as a result, boost the market growth.
Liberalization, social media penetration, and the impact of pop culture have resulted in a greater awareness of the importance of sexual health. The adoption of cutting-edge technology for the production of creative items is one of the increasing trends in the sex toys market. Virtual gadgets, remotely linked products, robotics, immersive entertainment, and augmented reality are some of the aspects that are predicted to impact the market landscape in the future years.
There has been a surge in demand for feminine wellness creams and lotions and both genders' sex toys as people realize the importance of sexual wellbeing. Many manufacturers concentrate on health, beauty, and self-care, producing new goods and equipment such as a small massager and pulsing air arouser, personal lubricant, and toy cleaning wipes.
Economic sexual health products, such as gels and toys, are entering the market, and the stigma associated with selling sexual items in ordinary retailers is fading. The change will likely result from a generational shift since millennials have a different view on sexual wellbeing than baby boomers. The progressive abolition of the stigma associated with masturbation, particularly among married couples, promotes the sex toy business.
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The entire world went into lockdown to combat the COVID-19 pandemic. Since then, internet firms and merchants have reported a surge in demand for adult toys. Having a sufficient supply of sex toys throughout the self-quarantine period is a significant problem for manufacturers, distributors, and retailers. The global shutdown of air freight and exports has harmed the supply and distribution system. This is expected to boost import duties in several countries, raising the price of imported sex toys.
The outbreak forced people worldwide to stay indoors or self-isolate at home and practice self-care, including self-pleasure. This has led to an increase in sex toy sales, particularly in developed and emerging markets. During the last three months of 2019, sales of personal massagers, vibrators, torches, blindfolds, handcuffs, and bondage accessories exceeded expectations.
North America dominated the global market by acquiring more than 33 % market share in 2020 due to many producers and stores providing easy access to products. According to 2019 research conducted in the United States, 53% of Americans use sex toys to enhance their sexual experience. Demand for adult novelty items is expected to rise during the forecast time due to improved social acceptability and a more liberal sexual lifestyle in the United States and Canada and the existence of multiple adult stores.
North American manufacturers, including Doc Johnson in the United States and CalExotics in Ontario, have claimed increased sex toy sales in 2020. Europe's most significant market contributors are Germany, Italy, France, the United Kingdom, Denmark, and Belgium. Traditional vibrators and dildos are the most popular commodities in these countries. The presence of leading brands such as LELO, Lovehoney, Durex, and Fun Factory that meet the needs of the European population propelled Europe to the second-largest market in 2020.
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast Periods