Enjoy complimentary customisation on priority with our Enterprise License!
The report includes a comprehensive outlook on the Vinyl Records Market, offering forecasts for the industry segmented by Product, which comprises LP/EP vinyl records and single vinyl records. Additionally, it categorizes Distribution Channel into online and offline, and covers Geography regions, including North America, APAC, Europe, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments. It also includes an in-depth analysis of the aesthetic appeal of vinyl records, promoting vinyl records as special editions/deluxe products, and challenge from digital music format.
To learn more about this report, View Sample PDF
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the Vinyl Records Market. One of the major companies in the market include:
The market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Austep Music, KGaA, Erika Records Inc., GZ Media AS, Implant Media Pty Ltd., Independent Record Pressing, Microforum Services Group, MPO France, Pallas Group, PrimeDisc Ltd., Quality Record Pressings, R.A.N.D. MUZIK GbR, Record Industry BV, Suitcase Records, SUNPRESS VINYL, Takt Direct GmbH, The Vinyl Factory Ltd., United Record Pressing, Vinyl Presents Ltd., and Zenith Records
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Our researchers analyzed the data with 2023 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The aesthetic appeal of vinyl records is notably driving the vinyl records market growth. Vinyl records stand as one of the fastest-selling and growing mediums of music, despite the acceptance of digital media. The experience of listening to music played on vinyl records is one of the major reasons for the demand for such vinyl records. Moreover, one of the key features of vinyl records is their ability to represent important events in pop music history and heritage while providing a sense of the cultural background, which is modern and urbane. Thus, such factors have increased the demand for vinyl records, and are expected to continue during the forecast period.
Promoting vinyl records as special editions or deluxe products is a key trend shaping market growth. Young people listen to music on many devices and different formats; however, they are increasingly investing in vinyl records for their most loved recordings. Consequently, various players are trying to differentiate their product offerings by launching special and deluxe editions of their copies. In addition, different artists and labels are promoting their products as deluxe products, quoting a higher price to increase revenue. Pricing is another factor that is taken into account, whereby the additional features included in a vinyl album increase the pricing of the product. Hence, such factors will support the growth of the market during the forecast period.
The challenge posed by digital music formats will hinder market growth. The music industry is going through a transition. The current trend is the streaming format, which has witnessed significant growth over the past few years. Furthermore, fast Internet connection has allowed people to access music directly via cell phones or other electronic devices. Moreover, the streaming culture stands as one of the main trends among consumers, especially in developed countries. However, vinyl records continue to be a niche segment. Thus, such factors may impede the growth of the market during the forecast period.
Get a detailed analysis of drivers, trends, and challenges Request Free PDF Sample !
The LP/EP vinyl records segment is estimated to witness significant growth during the forecast period. Most record labels use LP vinyl as the standard format for vinyl records. The increasing demand for retro music is the major factor driving the growth of the segment. Companies are also offering different colors in LP vinyl records for retro music with creative packaging to attract customers in the market. LP vinyl records can now record over 20 minutes of playtime on each side, with more tracks available per purchase. These are the most preferred format among music lovers, especially vinyl record aficionados. The LP/EP vinyl records segment was the largest segment and was valued at USD 1,070.12 million in 2018. Moreover, EP (extended play) vinyl records were introduced as singles through the vinyl format. LP/EP vinyl records are mostly used in album launches. The rising popularity and promotional activities of EP records would further propel the demand for LP/EP vinyl records during the forecast period.
To gain further insights on the market contribution of various segments Request a PDF Sample
The Vinyl Records Market is segmented by distribution channel into two categories online and offline.
North America is estimated to contribute 32% during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The US is the major revenue contributor to the vinyl records market in the region. There are several music publishers and vinyl record-pressing plants across North America. The high spending capacity of the population drives the growth of the music market in the US. The high GDP per capita indicates the high spending capacity of the population, which allows them to spend on vinyl records. This is likely to increase the revenue generated by the music market in the country. Vinyl record sales in the US are witnessing continuous growth every year, which will drive regional market growth during the forecast period.
|
Vinyl Records Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
120 |
|
Base year |
2023 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 9.22% |
|
Market Growth 2024-2028 |
USD 790.55 million |
|
Market structure |
Fragmented |
|
YoY growth (%) |
7.31 |
|
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
|
Performing market contribution |
North America at 32% |
|
Key consumer countries |
US, Japan, Germany, France, and UK |
|
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
|
Key companies profiled |
Austep Music, Edel SE and Co. KGaA, Erika Records Inc., GZ Media AS, Implant Media Pty Ltd., Independent Record Pressing, Microforum Services Group, MPO France, Pallas Group, PrimeDisc Ltd., Quality Record Pressings, R.A.N.D. MUZIK GbR, Record Industry BV, Suitcase Records, SUNPRESS VINYL, Takt Direct GmbH, The Vinyl Factory Ltd., United Record Pressing, Vinyl Presents Ltd., and Zenith Records |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
