The guitar market is valued at $527 million in 2021 and will reach an adjusted $645.3 million by 2028, a CAGR of 2.9%. Guitars are portable, convenient, and flexible to use, making them popular with users. Many small details of a guitar affect the final tone, such as the density of the wood, size, structural solidity, electronics, pickups, etc. Classical guitars have nylon strings and a slightly smaller body. Guitars have fewer frets and wider necks than their steel-string counterparts.
Hot selling months: all year round.
Hot selling sites: United States, Europe.
The average price of a guitar has risen by 48% over the past 10 years. During this period, unit sales of guitars fell by 15%, but overall retail sales increased by 24.6%. The United States accounts for 40% of the global music trade. Germany and the United States account for the largest share of global sales.
Supply chain industrial belts: Huiyang, Zunyi, Zhangzhou, Weifang.
Guangdong Huiyang, the “capital of China’s guitar industry”, produces 60% of China’s guitars and 25% of the world’s guitars, and 80% of the global sales of ukuleles. Zunyi, Guizhou, is the “hometown of Chinese guitar manufacturing”. Zhangzhou is the third largest guitar production base in China. The “hometown of guitars” is Weifang, Shandong. More than 80% of guitar products are exported to more than 30 countries and regions including South Korea, the United States, and Australia.
Price range: US$40~150.