Sexual wellness products, especially sex toys, are high on demand in India as the rise of e-commerce platforms and digital communication helped to make such products and services more accessible to the people.
According to IMARC Group’s latest report, titled “India Sexual Wellness Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the India sexual wellness market is expected to exhibit a growth rate (CAGR) of 7.5% during 2023-2028.
Another report published by Spherical Insights & Consulting, the Global Sex Toys Market Size was valued at USD 34.95 billion in 2021 and the worldwide sex toys market size is expected to reach USD 75.73 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 12.97% during the forecast period. In 2021, the global market for sex toys was valued at 1,482 million toys, with a projected increase to 3,508 million toys by 2030. The sex toy market grows at an average annual rate of 18% and doubles roughly every eighth year.
In the Indian scenario, the market encompasses a wide range of products and services that aim to enhance sexual pleasure and promote overall sexual health. One of the key features of sexual wellness is its diversity, with a wide range of products and services catering to different needs and preferences, encompassing mental, social, and physical well-being. These include sexual wellness products, such as lubricants, contraceptives, and sex toys, as well as sexual health services, such as counseling and testing for sexually transmitted infections (STIs).
The increasing awareness regarding sexual wellness in India represents one of the key factors influencing the market growth. Moreover, the rising demand for sexual wellness products and services, especially among younger generations, are major growth inducing factors.
The increasing acceptance of sexual diversity and the rising need for inclusive sexual health education are contributing to the market growth. The market is also being driven by the widespread recognition of sexual wellness as an important aspect of overall health and well-being.
The rise of e-commerce platforms and digital communication has also helped to make sexual wellness products and services more accessible, which, in turn, is favoring the market growth. Other factors, such as extensive research and development (R&D) activities and increasing disposable income levels, are creating a positive outlook for the market across the country.
Breakup by Product Type: Sex Toys, Male Condoms, Natural Latex Condoms, Female Contraceptives, Cream, Waist/Hip Lightening Cream, Hair Removal Foam/cream, Lubricants and Sprays, Gels, Lubes, Massage Oil, Intimate Wash, Foam, Wipes, Intimate Fragrances, Sprays, Pockets etc.
Another report says the widespread acceptability and popularity of sex toys among all age groups have led to a surge in the number of sex toy producers and e-commerce platforms, bringing a plethora of new products to their product line. The National Association for the Advancement of Science and Art in Sexuality was formed in 2013 as the first trade organization in the sex toy sector (NASAAS). Around 700 firms have signed up for this.
Technological advancements have increased the quality of sex toys and introduced a slew of new products to the market. Material (silicone and glycerin lube and Cyberskin dildos), design (high-end chrome with acrylic butt plugs and dildos), and usefulness are all aspects of these advances (remote control vibrators). Such integration of modern technology into their products has increased new product launches.
Increased product demand is being driven by a shift in customer expectations and interests and an increase in the acceptability of sexual health products. According to a recent Forbes sexual wellness study, the number of premium Sex-Tech businesses in Europe has increased by 88%, with countries such as the United Kingdom, Germany, Denmark, Sweden, Greenland, and other western European countries reporting significant product demand. Also predicted that sales through online distribution channels will increase by more than 20% by 2022. All of these elements are generating enormous economic prospects and, as a result, are drawing investors to the sex toys industry.
Furthermore, after only three years of operation, a German sex-toy e-commerce firm named Amorelie is valued at USD 41.1 million and is now part of the NuCom Group. In addition, Lovehoney, a market leader in sex toys in the United Kingdom, reported sales of USD 139 million in 2017. Similarly, Pureeros, the crowdfunding platform’s first sex tech company, was just accepted. This has prompted numerous hesitant investors to fund enterprises in the sex toys business to allow enhanced client involvement with a more significant flood of suppliers. This is projected to create new prospects for market expansion soon.
The pandemic has altered the growth of several industries. However, the outbreak’s initial impact was mixed. Although a few industries experienced a reduction in demand, many others, such as online media business solutions, were projected to stay unaffected and to show significant development possibilities. Since sex toys are primarily sold online, the COVID-19 pandemic considerably influenced the European sex toy business. It is mainly because people don’t want to buy these things because of the shame and taboo that comes with them.
Countries like the United Kingdom and Germany have seen a significant increase in demand for sexual health products as e-commerce firms and delivery networks continue to distribute products despite the lockout. The online sex toy industry has recently grown by 110% in Denmark. On the other hand, Ann Summers, a British lingerie company, has seen a 30% increase in its sex toys business since April 1st, 2020. Furthermore, Dildo King, a Berlin-based accessory provider, reported an 87% increase in year-on-year sex toy sales since the German restrictions were announced.
Europe’s most significant market contributors are Germany, Italy, France, the United Kingdom, Denmark, and Belgium.
A sex toy, such as a vibrator or dildo, is a device used to improve human sexual enjoyment. Many of these toys are fashioned to resemble human genitals of both sexes. The most well-known products in these countries include vibrators, dildos, plugs, and clamps. People who researched and looked at the European market found that the demand increased over the time they looked at it.
Market growth can be attributed to several things. For example, manufacturers benefit significantly from an unfettered market and production climate. Furthermore, sex toy industry protection standards do not exist in European countries like Germany, Denmark, and Holland. This enables firms to create products without disclosing the chemical or substances used in the product. As a result, manufacturers can produce a wide range of products under the umbrella of novelty toys. As a result, devices like dildos, vibrators, and E-stimulators are widely used for sexual enjoyment by both gender types, thus contributing to market growth.
The Europe sex toys market size was valued at USD 9,419.9 million in 2021, and it is predicted to increase at a CAGR of 7.2% from 2022 to 2030.
According to type, the Europe sex toys market is categorized as vibrators, bullets, large massagers, dildos, penis rings, anal toys, artificial vagina, harnesses/strap-ons, and others. The vibrators and others segment acquired the major market share in 2021 and are expected to grow at a CAGR of 7.39% and 7.13% during the forecast period.
Based on the product segment, female products are pegged at 48% of the market share and are predicted to grow at a CAGR of 7.67% by 2030.
