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 speciality 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.
Technavio’s research study segments the global erection ring market into the following regions:
- Americas
- APAC
- EMEA
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
- LELO
- Reckitt Benckiser
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Overview of the erection ring market
Extensive research carried out by the analysts at Technavio has shown that the global erection ring market is anticipated to witness impressive growth and will post a CAGR of more than 7% during the forecast period. In the recent years, erection rings have been getting mainstream exposure mainly due to the Internet and media exposure. This has garnered a lot of attention and is influencing consumers to experiment with the product to enhance their sexual experiences. Several popular movies including Fifty Shades of Grey is one of the examples that significantly boosted the demand for erection rings and other sexual wellness products. Through this movie, several people became more aware of erection rings. This franchise not only changed the perception of people toward sex toys but also created a mass appeal for these products. With the upcoming movies from the Fifty Shades franchise and the increasing mention of sex toys in fiction novels and movies will lead to the augmented adoption of erection rings in the coming years.
There has been a considerable increase in awareness of premature ejaculation among patients and physicians. Although erection rings are not technically a treatment for premature ejaculation, they are popularly used to prolong sexual intercourse by continuing penetration even after reaching orgasm. Moreover, initiatives are undertaken by several healthcare organizations related to premature ejaculation, which will propel this market’s growth. For instance, PE Awareness is a community that engages in spreading awareness through its tools and resources. The community also arranges funds for the R&D of new medicines to treat disorders. Such awareness campaigns educate people about the importance of addressing the issue through different treatment methods available in the market, including the use of erection rings, which will also contribute to this market’s growth over the next four years.
Competitive landscape and key vendors
The global erection ring market is highly competitive owing to the presence of several well-established vendors. The high growth rate and potential of the market have been attracting many new entrants and investors over the past couple of years, and this trend is expected to continue in the coming years. The competition between the vendors is fierce and has led to exponential product innovation over the years. Although the top vendors are spread around the world, the highest number of new vendors have been emerging from the US. Most of the vendors usually design and prototype their products in the US and manufacture them in China. The vendors compete on the basis of price, quality, innovation, features, service, reputation, distribution, and promotion.
Key vendors in this market are –
- BMS Factory
- California Exotic
- Church and Dwight
- LELO
- Reckitt Benckiser
Other prominent vendors are Adam & Eve, Ann Summers, Aneros, Bad Dragon, Beate Uhse, Diamond Products, EdenFantasys, Eve’s Garden, Fun Factory, Holistic Wisdom, Je Joue, Lovecraft, LoveHoney, Love Life Products, Tantus, TENGA, The Pleasure Chest (Crystal Delights), OhMiBod, Vibratex, and Vixen Creations.
Segmentation by distribution channel and analysis of the erection ring market
- Online stores
- Retail outlets and specialty stores
During 2015, the online store segment accounted for the majority of market shares and will continue to lead the market during the forecast period. Besides holding interactive sessions on product discussions and informing the customer about the benefits of erection rings, online stores also provide complete privacy to the consumers, which is a major factor driving this segment’s growth. With the increasing number of Internet users around the world, this market is expected to have a positive outlook in the future. Also, the frequency of online searches on sex toys such has increased significantly in the past five years, creating greater opportunities for market growth. Furthermore, the boost in sales through online channels has impelled vendors to liberalize their policies to ease the purchase process. For instance, LoveHoney, a provider of adult sex toys online has started a 365-day free return policy, according to which a customer can send back any sex toy within a year for a complete refund. This is also applicable to products that are already used. Such policies will propel the demand for these products online.
Geographical segmentation and analysis of the erection ring market
- Americas
- APAC
- EMEA
In terms of geography, the Americas was the highest revenue contributing region in the market and will continue to lead the market in the coming years. The growth of this market in the region is attributed to the increase in availability of sexual wellness products, including erection rings, because of the expanding number of adult stores across the region. The US is the largest spender on erection rings in the region owing to a high awareness of these products and their ability to enhance the overall sexual experience. The change in cultural values and a sharp rise in the number of people experimenting with their sexual preferences will help in this market’s growth in the Americas.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global erection ring market?
- What are the key market trends impacting the growth of the global erection ring market?
- What are the challenges to market growth?
- Who are the key vendors in the global erection ring market?
- What are the market opportunities and threats faced by the vendors in the global erection ring market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global erection ring market?
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.