The global sex toys market size will be valued at USD 30.48 billion in
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The global sex toys market size will be valued at USD 30.48 billion in 2021. It is expected to grow at a compound annual growth rate (CAGR) of 8.4% from 2022 to 2030. Rising spending power and living standards in developing economies are factors expected to drive market growth over the forecast period. Novel adult products are gaining popularity in the sexual health industry, among all age groups. Acceptance by the LGBTQ+ community and rising interest among women to try sexual wellness products without hesitation is boosting the adoption of such products, thereby driving the market growth. Liberalization, the penetration of social media, and the influence of popular culture have led to a growing awareness of the importance of sexual health. Additionally, there are no manufacturing regulations that allow manufacturers to develop female- and male-centric products without any restrictions on reporting materials or chemicals used in products. As a result, manufacturers are free to develop many products that bear the novelty toy label. Products such as vibrators, dildos, and electronic stimulators are widely used by men and women for sexual stimulation.