Global Online Sex Toys Market - Increase in Innovative Marketing of Products to Promote Growth| Technavio
March 13 2018 - 1:14PM
Business Wire
The latest market research report by Technavio on the
global online sex toys market predicts a CAGR of over
7% during the period 2018-2022.
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the full release here:
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Technavio has published a new market
research report on the global online sex toys market from
2018-2022. (Graphic: Business Wire)
The report segments the global online sex toys market by product
(adult vibrators, erection rings, and dildos) and by geography (the
Americas, EMEA, and APAC). It provides a detailed illustration of
the major factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.
Here are some key findings of the global online sex toys
market, according to Technavio researchers:
- Growing LGBT population in developed
countries: a major market driver
- Increase in the innovative marketing of
products: emerging market trend
- APAC dominated the global online sex
toys market by accounting for more than 62% of the market
share
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Growing LGBT population in developed countries: a major
market driver
The growing LGBT population in developed countries is one of the
major factors driving the global online sex toys market. In
developed countries such as the US, the LGBT population is a major
part of the entire population. The LGBT population is the key user
of sexual wellness products, including sex toys. Moreover, this
population is also supported by mainstream news media in the US.
Furthermore, the support for the LGBT population is also evident by
an initiative, which is solely dedicated to improving the health
and wellness of this population.
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Increase in the innovative marketing of products: emerging
market trend
Sex toys sold through online adult stores are associated with
stereotypical images, and societal norms related to intimacy are
discouraging consumers from openly buying these products. Thus,
market participants have embraced discreet packaging of sexual
wellness products such as vibrators. This development will
certainly boost the confidence of buyers who are hesitant to buy
sex toys. Although many sex toys containing explicit images were
sold in underground shops, their availability in mainstream retail
has altered the way they are displayed to avoid resentment from
consumers.
According to a senior analyst at Technavio
for research on health and wellness, “Sex toys providers are
increasingly emphasizing on offering products online by shipping
products with discrete packaging. Vendors have addressed this issue
and package products with no indication of its contents. Anonymity
is maintained even from delivery people. Branding content is not
featured on the box, and the category displayed on delivery slips
does not refer to the package as containing sexual wellness
products. This trend is making consumers comfortable with shopping
for these products from the privacy of their homes and this is
expected to propel the demand in the market during the forecast
period.”
Global market opportunities
In terms of regional dominance, APAC led the global online
sex toys market, accounting for more than 62% share in 2017.
This is because of the low cost involved in producing sex toys in
China and the increased adoption of these products in countries
such as China, India, Japan, and Singapore. This was followed by
the Americas and EMEA. The Americas has a larger market share when
compared with EMEA owing to the increased product penetration, the
presence of many key and prominent vendors, increased adoption of
online retail, and high disposable income that supports the growth
of the market, specifically in North America.
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Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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