“Intensifying competition has made it difficult for new vendors to enter the market as profit-killing discounts are pushing new companies out of the market. In addition, a wide range of products has been made available through different distribution channels, including online stores, retail outlets, and specialty stores”
In this report, Technavio covers the market outlook and growth prospects of the global erection ring market for 2016-2020. The market is further categorized into two segments by distribution channel, including online stores and retail outlets specialty stores, of which the online stores segment dominated the market with more than 53% of the overall market share in 2015.
“Intensifying competition has made it difficult for new vendors to enter the market as profit-killing discounts are pushing new companies out of the market. In addition, a wide range of products has been made available through different distribution channels, including online stores, retail outlets, and specialty stores,” says Amber Chourasia, a lead health and wellness research expert from Technavio.
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Technavio’s research study segments the global erection ring market into the following regions:
In 2015, with a market share of over 36%, the Americas dominated the global erection ring market, followed by APAC with over 33%, and EMEA with almost 31%.
Americas: largest market for erection ring
The US is the largest spender on erection rings in the region owing to a high awareness of these products and their capability to enhance the sexual experience. The change in cultural values and the rising propensity to experiment with technologically advanced erection rings will propel the demand for sex toys such as erection rings during the forecast period.
Further, festivals and trade shows have been successful in creating a complementary environment for vendors to display their products and increase the consumers' interest in purchasing them. Vendors (including retail outlets as well as online stores) get the opportunity to display their products and deal with the challenges of this business regarding legal complications and obscenity laws.
Increase in disposable income fueling the erection ring market in APAC
The high population in the region and an increasing disposable income have enabled people in APAC to spend more on sex toys to meet their sexual desires. Some APAC countries have the highest consumption as well as the production of sexual wellness products. China accounts for over 70% of the global manufacturing of sex toys, making products easily available at a much cheaper cost in the region.
The changing perception of consumers toward erection rings and the growing acceptance of sex paraphernalia will lead to increased spending on adult products soon. As per ASEAN Economic Community, regulatory harmonization will possibly pave the way for opportunities in this industry. Additionally, rising online penetration will enable individuals to take better responsibility for their sexual health.
EMEA to post a CAGR of over 6% during the period 2016-2020
“The growth of the market in EMEA can be attributed to high awareness among people in the region, thereby accelerating the sale of sophisticated and high-end sexual pleasure products, including erection rings,” adds Amber.
Like in the Americas, EMEA is also witnessing an increase in premature ejaculation related cases that will probably hike the expanding on sex toys such as erection rings. Furthermore, the bondage, domination, submission, and masochism (BDSM) trend, which involves role play, disciplining, and submission, is being increasingly embraced in EMEA driving the consumption of sex toys such as erection rings.
The top vendors in the global erection ring market highlighted in the report are:
- BMS Factory
- California Exotic
- Reckitt Benckiser
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