Global Adult Toys Market to Exceed USD 29 Billion by 2020, According to Technavio

LONDON–(BUSINESS WIRE)–$LUVU #Health–According to Technavio’s latest report, the global
adult toys market
is expected to exceed USD 29 billion by 2020,
growing at a CAGR of almost 7% during the forecast period.

“The global adult toys market is growing at a steady pace due to various
factors such as an increase in openness, drive for excitement and
adventure, passion for quirky products and heightened desire for
experimentation, which are driving the market growth globally,” says
Amber Chourasia, lead analyst for health
and wellness
research at Technavio.

In this report, Technavio
covers the present scenario and growth prospects of the global
adult toys market 2016-2020
. The report also presents the
vendor landscape and a corresponding detailed analysis of the top five
vendors operating in the market. The market is segmented into the
following four regions:

  • APAC
  • Europe
  • North America
  • ROW

APAC: increasing disposable income propels growth

The adult toys market in APAC is expected to reach USD 13.4 billion by
2020, growing at a CAGR of over 7%.

The adult toys market in APAC is the largest in terms of revenue
contribution. China and Japan are the biggest markets for these
products. India is also recording impressive growth due to growing
consumption of adult toys and related products. Seventy percent of
global adult toys are made in China. Adult toys are sold through
different stores, and even the mom-and-pop shops in the majority of
Chinese cities keep a stock of adult intimacy products, including adult
toys. This is in response to the consumer acceptance of adult toys in
China. In 2010, over 90% of Chinese adults showed acceptance for adult
toys, and this number is likely to rise in the coming years.

Increasing disposable income is another factor driving individuals to
adopt advanced adult toys.

“Indonesia, Vietnam, and Thailand are likely to experience significant
growth in the coming years due to increasing disposable income and
rising availability of adult toys,” says Amber.

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Europe: availability of organic and high-end sophisticated products
boosts growth

The adult toys market in Europe is expected to reach USD 7.7 billion by
2020, growing at a CAGR of over 7%.

The adult toys market in Europe is growing at a fast rate.

North America: rising propensity to experiment increases demand

The adult toys market in North America is predicted to exceed USD 6
billion by 2020, growing at a CAGR of almost 7%.

The adult toys market in North America is witnessing rapid growth. The
rise in demand for adult toys from older women and couples is driving
sales in this region. Changing cultural values and the rising propensity
to experiment with adult toys, will lead to an increase in demand for
adult toys during the forecast period. Retailers are creating prominent
shelf lines for sexual health and wellness products. The US accounts for
the larger share of the market, while Canada, too, is witnessing strong
demand.

ROW: rising westernization to boost growth

The adult toys market in ROW is expected to exceed USD 1.9 billion by
2020, growing at a CAGR of over 4%.

ROW here includes Latin America and the Middle East and Africa (MEA).
Rising westernization and inclination toward the use of adult toys and
related products are factors which are boosting their sales in ROW.
Brazil is Latin America’s biggest market for adult toys mainly due to
the increase in availability and awareness about the product.

Adult toys are still not commercially available in many countries. The
ROW market is challenged by the prohibition of these products in various
countries and tight scrutiny by customs officials that makes sourcing
difficult. Africa constitutes a very small percentage of the market
because of the low disposable income. However, the penetration of these
products is significantly growing in some countries, such as South
Africa.

Key Vendors:

  • Ansell Healthcare
  • BMS Factory
  • Doc Johnson
  • LELO
  • Luvu Brands

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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