Monday, March 15, 2021

Global Adult Sex Toys Market Projected to Reach $36.1 Billion Dollars by 2027

Image by Klaus Hausmann from Pixabay

Amid the COVID-19 crisis, the global market for adult sex toys estimated at US$24.5 Billion in the year 2020 is expected to reach a revised size of US$36.1 Billion by 2027, growing at a CAGR (Compound Annual Growth Rate) of 5.7% over the period 2020-2027.


Erection Rings are projected to grow at a 4.9% CAGR to reach US$7.4 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Dildos segment is readjusted to a revised 5.5% CAGR for the next 7-year period. This segment currently accounts for a 25% share of the global adult sex toys market.


Photo by Jasmine Carter from Pexels

The U.S. accounted for over 28.9% of the global market size in 2020, while China is forecast to grow at an 8.9% CAGR for the period of 2020-2027.


The adult sex toys market in the U.S. was estimated at US$7.1 billion in the year 2020. The country currently accounts for a 28.92% share in the global market.


China, the world's second-largest economy, is forecast to reach an estimated market size of US$6.6 Billion in the year 2027, trailing a CAGR of 8.9% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.2% respectively over the 2020-2027 periods.


Within Europe, Germany is projected to grow at approximately 3.7% CAGR while the rest of the European market will reach US$6.6 Billion by the year 2027.


Adult Vibrators segment corners a 42.1% share in 2020. In the global adult vibrators segment, the USA, Canada, Japan, China, and Europe will drive the 5.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$7.8 Billion in the year 2020 will reach a projected size of US$11.2 Billion by the close of the analysis period. China will remain among the fastest-growing in this cluster of regional markets, led by countries such as Australia, India, and South Korea. The market in Asia-Pacific is predicted to reach US$4.9 Billion by the year 2027, while Latin America will expand at a 7.1% CAGR through the analysis period.


Source: Dublin--(Business Wire)--Feb 8, 2021 

No comments: