The sex toy market is going mad and here are some of the latest stats from market research firm Technavio.
1. The global sex toy market is worth over £18 billion
Yep, that’s right! In 2017 the market was worth over £18 billion. To put that is perspective, it’s ten times bigger than the electric toothbrush market.
2. Online sales have played a large part in the growth of the sex toy market
Lovehoney is the biggest sex toy retailer in the UK and they increased 130-fold since their first year of operation 16 years ago. Buyers enjoy the discretion of online purchases which has helped to contribute to the largely growing market.
3. Sales are still rising
In the next few years growth rates are expected to increase around 10 to 15% as developing markets begin to purchase more toys.
4. 70% of sex toys are produced in China
It’s no surprise that the majority of sex toys found here in the UK are in fact made in China.
5. Europeans are bigger buyers than the Americans
According to Technavio Europe is actually beating America in terms of purchasing power.