• Analysis and Studies
• Musical Instruments: a look at the market

With summer’s approaching and the world slowing going back to normality, concerts and jams are coming back after nearly two years with no sound. Music is an important form of human expression, and many children begin learning to play an instrument as early as kindergarten. The variety and diversity of the world's music facilitates intercultural learning as well as international understanding, cooperation, and peace. Since the earliest times, musical instruments have been used for the entertainment of concert audiences to the accompaniment of dances, rituals, work, and medicine. 

For those and many other reasons, the musical instrument market is fundamental. It is worth nearly seven billion dollars, and besides some setbacks, it is still thriving. The leading exporters of musical instruments were China ($2.03 billion), Germany ($722 million), Indonesia ($685 million), the United States ($637 million), and Japan ($589 million). The top importers were the United States ($1.31 billion), Germany ($739 million), China ($497 million), Japan ($463 million), and the United Kingdom ($362 million).

Between 2019 and 2020, the market had a decline in growth, losing almost 6 percent in sales. Hopefully, the market will recover as a result of the return to live performances. 

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