TORONTO – A new analysis of the adult pleasure products marketplace predicts vibrator sales will increase 15.29 percent (compounded annual growth rate) between now and 2020.
Global Adult Vibrator Market Report, published by research firm Technavio, lists a number of influences and trends that will contribute to the projected growth. Among them is an increase in Chinese production.
“The sex toy industry in China is proliferating with the presence of over 1,000 manufacturers producing a variety of sex toys including vibrators,” the report notes. “Approximately 70 percent of the global sex toy production happens in China, owing to the easy availability of raw material and low labor costs. Additionally, several key players in the market are setting up their operational bases in China to leverage economies of scale that the country has to offer through its low-cost manufacturing inputs, which, in turn, will boost this market’s growth over the next years.”
The rising popularity of online shopping and the proliferation of online sex shops also will have a significant influence on the market, according to the report.
One of the latest trends gaining significant traction in the market is the growing popularity of vibrators for therapeutic purposes. As they age, women often experience vaginal dryness and changes in firmness and elasticity of the vaginal muscles, as well as an imbalance in hormonal levels that affects vaginal moisture. The physical changes may lead to reduced levels of pleasure during intercourse. In such cases, sex and wellness experts encourage the use of genital vibrators, as they can help in relaxing vaginal muscles.
“Moreover, the majority of chemists in several countries in Europe provide sex toys on doctors’ prescription, which will also propel this market’s growth prospects in the future,” the report notes.
Challenges exist, however. The global adult vibrator market is highly fragmented owing to the presence of a large number of well-established vendors. The growth rate and potential have attracted a significant number of new entrants and investors over the past couple of years, and this trend is expected to continue over the forecast period.
“The competition among the vendors is fierce and has led to exponential product innovation over the years,” the report states. “The players compete in terms of price, quality, innovation, features, service, reputation, distribution and promotion. Although the top vendors are spread throughout the globe, the highest number of new vendors have been emerging from the U.S.
“Moreover, the vendors are increasingly directing their marketing efforts toward creating category and brand awareness,” the report continues. “To grow and attain success in the market, it is crucial for vendors to understand the requirements of the target audience in terms of the price, range and risqué nature of the products offered.”
The nature of consumer desires is changing, as well.
“During 2015, the insertion vibrators segment led the global adult vibrators market,” according to the report. “However, since the launch of the dual-purpose vibrator, the market for insertion as well as external vibrators is declining, owing to the popularity of dual-purpose vibrators, which are capable of serving the purpose of both [internal and external] devices simultaneously.
In terms of geography, the Americas has been and probably will continue to be the dominant revenue generator. The region benefits from a strong distribution network, which helps retailers make products available when and where consumers want them. U.S. consumers are the largest market segment for purchases, due to nearly universal awareness of the products and their capability to enhance the sexual experience. The change in cultural values and the rising propensity to experiment with technologically advanced vibrators will also contribute to vibrators’ sales growth in the region.
