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Sex Toys Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material ; Gender ; Distribution Channel, and Geography
The Sex Toys market was valued at US$ 30,974. 79 million in 2020 and is projected to reach US$ 55,648. 88 million by 2028; it is expected to grow at a CAGR of 4. 31% during 2019-2027. The growth of the market is mainly attributed to factors such Changing perception of customers toward utilization harmful chemicals in sex toys of sex toys and increasing number of online sex toys retailers are driving the growth of the sex toys market.
New York, June 25, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Sex Toys Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Material ; Gender ; Distribution Channel, and Geography" - https://www.reportlinker.com/p06099496/?utm_source=GNW
However, restrain the market growth. Further increasing investment by sex toys manufacturers offer lucrative opportunities for the growth of the global sex toys market.
Increasing number of E-commerce platforms is one of the prominent reasons boosting the adoption of sex toys.Though the use of sex toys in the region is being normalized, majority of the customers in North America prefer hiding their identity while purchasing sex toys.
Online or E-commerce platform allows customers to hide their identity while purchasing such products, leading to the increase in purchase of sex toys.Moreover, considerable number of market players are actively entering into the market due to substantial market potential.
For instance, in 2015, the company named Ella Paradis started its operation in the US.The company is engaged in offering customized products for sexually active adults through its E-commerce platform.
Moreover, the company has also conducted a study in the US, which states that the use of sex toys in the US has grown up by 10.0% during the pandemic period. Such growing presence of online retailers and preference for online platforms to buy sex toys are estimated to drive the growth of the Global sex toys market during the forecast period.
Based on material, the global sex toys market is segmented into metal, silicone, plastic, glass, and others.The silicone segment held the largest share of the market in 2020 and is expected to register the highest CAGR during the forecast period.
By gender, the global sex toys market is segmented into male and female. The female segment held a larger share of the market in 2020, and it is further expected to register the highest CAGR in the market during 2021–2028.
The Food Safety and Inspection Service, Food and Drug Administration, and European Medical Association are a few of the major secondary sources referred to while preparing the report on the global sex toys market.
Read the full report: https://www.reportlinker.com/p06099496/?utm_source=GNW
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