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 7.6% during 2021-2028.

The growth of the market is mainly attributed to factors such as changing perception of customers toward utilization of sex toys and increasing number of online sex toys retailers are driving the growth of the sex toys market. However, harmful chemicals in sex toys 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 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.

Globally people have experienced a rising number of cases of COVID-19 since its outbreak. For instance, according to Worldometer, the number of cases has reached 33,230,561, with 591,514 deaths reported in the United States as of May 03, 2021. The cases are also increasing in Mexico and Canada. In Mexico, the number of patients has reached 2,348,873, with 217,233 deaths. Similarly, in Canada, there are about 1,234,181 COVID cases, with 24,300 deaths reported so far. Moreover, governments worldwide have implemented quarantine and travel restrictions to curb the spread of COVID-19; however, such measures have jeopardized industrial operations, including those of pharmaceuticals. Along with temporary shutdowns in some countries, the pharmaceutical industry has also faced severe consequences of supply chain disruptions.

The effects of COVID-19 on human sexualities have been intensively discussed on both mass media (press, radio, and television) and social media (Facebook, YouTube, Instagram, and Twitter; D?ring & Walter, 2020). For example, the New York Times ran "Coronavirus and Sex: Questions and Answers" (Gunter, 2020), VICE Magazine reported "How Sex Workers are Dealing with Coronavirus" (Pringels, 2020), and the new Facebook group "LGBTI COVID-19 Response" was founded. This is gratifying because issues of sexual and reproductive health and rights and sexual well-being should be taken seriously in times of crisis, as they are closely related to overall health and quality of life. An example is the "Kissenger machine," an interactive device used with a mobile phone that allows remote kissing in real time over distance. While high-tech sex toys for remote sex play have been discussed as "teledildonics" for decades, the 2019/2020 COVID pandemic, with its long-term lockdowns and contact bans, has increased demand for and interest in remote sex toys for both casual sex play among isolated singles and sexual intimacy between halves of separated couples. Sex toy sales have risen in the UK by 13%, whilst globally Canada has seen an 135% increase, and Italy, a 71% increase. In statistics provided by adult sex toy brand, Womaniser, it's perhaps unsurprising then that sales of sex toys have spiked as people look to keep themselves entertained at home.

Adam and Eve, a company with franchised locations across North America and an online store, reported a 30% increase in online sales in March and April 2020 based on the same time period last year. Other big companies that make most of their sales online also saw an uptick. Wow Tech Group, which owns We-Vibe and Womanizer, reported that online sales for both brands were over 200% higher in April 2020 compared to last year. In April 2020, online sales for products through Cotr Inc., the company behind B-Vibe, Le Wand, and the Cowgirl, were roughly three times higher in March 2020 than they were last year. Ella Paradis, an online boutique that offers everything necessary to explore and improve intimate relationships, including over 2,000 quality brands, adult sex toys, and a unique shopping experience, just released their end-of-year report focused on consumer behavior and sex life changes amid the COVID-19 pandemic. The survey results were from U.S.-based consumers ranging from ages 20-60. Some of the biggest findings included 51% of people said they have masturbated more during COVID; 10% increase in usage of sex toys during COVID.

Based on material, the sex toys market is segmented into silicone, plastic, metal, glass, and others. The silicone segment held the largest market share in 2020; the same segment is estimated to register the highest CAGR in the market during the forecast period. Based on gender, the sex toys market is segmented into female and male. The female segment held the largest share of the market in 2020. However, the male segment is estimated to register the highest CAGR in the market during the forecast period. Based on product, the sex toys market is segmented into vibrators, dildos, anal toys, penis rings, BDSM toys, masturbation sleeves, sex dolls, clothing, and others. The vibrators segment held the largest market share in 2020; however, the penis rings segment is estimated to register the highest CAGR in the market during the forecast period. Based on distribution channel, the sex toys market is segmented into e-commerce, specialty stores, and others. The e-commerce segment held the largest share of the market in 2020 and the same segment is estimated to register the highest CAGR in the sex toys market during the forecast period.

The sex toys market majorly consists of the players such as Crave, Lovehoney Group Ltd., BMS Factory, TENGA Co., Ltd., FUN FACTORY GmbH, WOW Tech International GmbH, LELO, LIFESTYLES HEALTHCARE PTE LTD, and UNBOUND amongst others.

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.