Surge in Sex Toy Sales Propelling the Growth of the Industry
Previously relegated to medical use for women diagnosed with "hysteria" and subsequently marketed covertly as "massagers", sex toys were rarely acknowledged as pleasure devices. Today, however, with increased awareness, the industry continues to experience a boom in sales.
Defining Sex Toys
Sex toys, also known as adult toys, enhance sexual pleasure during intercourse or masturbation. A wide array of such toys are available, serving diverse purposes, including medical treatments for sexual dysfunction or menopausal symptoms. Provided safety and hygiene measures are adhered to, these devices pose no harm. Current manufacturing trends are leaning towards sex toys that closely mimic human genitals.
Increase in Sex Toy Awareness and Demand
While sex toys have existed for approximately 30,000 years, discussions surrounding them were largely stigmatized due to associated misconceptions and embarrassment. However, this paradigm has significantly shifted in recent times.
According to a report by Research Dive, the sex toy industry is projected to generate $45,767.2 million by 2026, growing at a CAGR of 7.9%. New Zealand tops the charts in vibrator ownership, and survey data suggests that around 50% of women start using sex toys during their teenage years.
Legalization in many countries, increased social media awareness, and health benefits associated with sex toys have greatly amplified their demand. Influences from the internet, movies, and pop culture have further normalized these sexual enhancement devices. The introduction of technologically advanced sex toys, such as remote-operated, virtual, and augmented reality devices, is also fuelling market growth.
Present State of the Sex Toy Industry
German sex toy company, Womanizer, reports a near 50% surge in sales from January to March 2020 compared to the previous year. Similar trends are observed in Italy, while US sales are up by 60% above typical forecasts. These increases are attributed primarily to the COVID-19 pandemic, as individuals in self-isolation turn to sex toys.
Online Irish sex store, Eveies, recently added nine new brands to their offerings. Among them is Fetish Submissive, a brand offering an extensive array of products. Given the rising global demand, sex toy manufacturers are increasingly investing in the development of innovative and advanced sex toys. Notable contributors to the industry include DINGFOO, LELO, LUVU BRANDS, Church & Dwight Co., Inc., FUN FACTORY, Lovehoney Group Ltd, Tantus Technologies, Inc., CRYSTAL DELIGHTS, BMS Factory, ADAM & EVE STORES, Doc Johnson Enterprises, Spot of Delight, and WE-VIBE, among others.
Future Prospects of the Sex Toy Industry
With sales of sex toys surging and the expansion of e-commerce platforms, the market is poised for significant growth. The substantial investment opportunities and increasing product demand forecast a thriving future for the sex toy industry.