Sex Toys
By the time the 2023 numbers are finished being crunched, an estimated 20.8% of
retail purchases for the year will be shown to have taken place online, according to
Forbes – thanks not only to convenience but to consumers’ desire for privacy, as well.
Enter sex.
The online sex toys market size is estimated to grow at a compound
annual growth rate (CAGR) of 12.45% between 2022 and 2027,
according to Technavio, a global market research company in
Elmhurst, IL. The market’s size is forecast to increase by $13.4
billion.
The growing LGBTQ population in developed countries “is notably
driving market growth,” the firm reported. This population is “a
major part of the entire population in developed countries. Such
a community is the primary user of sexual wellness products,
including sex toys.” In fact, the rising LGBTQ population is also
supported by mainstream news media in the U.S. “Goldman
Sachs, Google, Morgan Stanley, and Coca-Cola were some of the
mainstream players that were part of this initiative.”
The availability of sex toys through e-commerce platforms like
company websites and dedicated e-commerce sites “is serving the
objective in terms of meeting the growing demand for sex toys
among the LGBTQ population.”
Innovative products and discrete product packaging of sex toys
are attracting many LGBTQ individuals to adopt these new
products. That growing LGBTQ base, especially in developed
countries, is projected to drive the growth of the online sex toys
market during the forecast period.
The researchers found that rebranding and repositioning of sex
toys is an emerging trend shaping the market growth. Societal
inhibitions are one of the main reasons for the growth of the
market, as the perception of these products has often been
stereotypical. Taboos associated with sex toys have prevented
vendors from venturing into this space.
Vendors today are mainly emphasizing product promotion and
display and innovative packaging, which is helping change the
levels of perception among individuals. Beyond that, the overall
sex toys industry is changing its marketing strategies.
Interestingly, Technavio noted in a release, sex toys are proposed
to be used for therapeutic use, as well. It is considered a favorable
option to create a new breed of visual imagery within the sextoy marketplace that is progressive, inclusive, positive, socially
conscious, and approachable by all segments of society. The
rebranding and repositioning of sex toys should help boost the
growth of the online sex toys market during the forecast period.
Significant Challenges
Among the significant challenges hindering market growth is
the difficulty in marketing sex toys.
In countries like India, the collected information showed, societal
norms related to intimacy discourage consumers from openly
buying sex toys. Educating them and creating awareness about
these products is a challenge for vendors. They are likely to
focus on target marketing to customer acceptance, especially in
emerging countries, which is more difficult for online retailers,
Technavio suggested, particularly in regions with severe internet
laws and regulations. Also, counterfeit sex toys are often packaged
under the brand names of original products and sold on large
online retail sites like eBay and Amazon.
Beyond this, counterfeit BDSM sex toys are said to be increasing
significantly in the market. Such products can have side effects,
as they contain polyvinyl chloride (PVC) plastics with a high
concentration of phthalates, which can negatively affect the health
of individuals who use them.
Viewing the online sex toys market by product, the adult vibrators
segment is increasing in terms of both market size and product
offerings, the firm found. Different technological innovations
in the sex toys industry, which were contributed by start-up
companies and pivotal vendors to remain competitive in the
market, have led to many product offerings and the introduction
of new products in the market.
Due to the availability of low-cost vibrators, several manufacturers
are engaged in the production of so-called insertion vibrators,
especially in China, which has a large market for these products.
Nevertheless, since the launch of rabbit or dual-purpose vibrators,
the growth of the insertion vibrator market has been hampered.
These factors are expected to increase the growth of the adult
vibrators segment.
Female Segment
The marketshare growth of the female segment will be
significant during the forecast period, Technavio pointed out.
“Female sex toys are used to enhance sexual pleasure, and some
of the types of female sex toys are vibrators, dildos, strap-ons,
masturbators, and anal toys,” the firm noted. “Online platforms
are a major distribution channel for selling female sex toys.”
Indeed, the female segment is said to be the largest. The growing
popularity of female sex toys “has encouraged many vendors
to expand their product offerings with new variants of their
products,” the release pointed out.
Some vendors and government organizations are making efforts
to increase awareness of sexual wellness and health among endusers through sexual wellness initiatives, also contributing to
market growth, Technavio found. These are also expected to
augment the sales of female sex toys, which should further fuel the
growth of the online sex toys market during the forecast period.