Global Online Sex Toys Market - Increase in Innovative Marketing of Products to Promote Growth| Technavio

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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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Technavio has published a new market research report on the global online sex toys market from 2018- ...

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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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Business Wire: 18:14 GMT Tuesday 13th March 2018

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