Vinyl Record Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
The global vinyl record market reached a value of US$ 1.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 2.6 Billion by 2027, exhibiting a CAGR of 8.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
A vinyl record, or phonograph record, refers to an analog sound storage device that consists of a disc manufactured using polyvinyl chloride plastic. The discs can have a metal, resin, cardboard or glass core, and the modulated sound information is inscribed in the surface materials in grooves. The disc is incised on both sides with a single concentric spiral groove, in which a sapphire or diamond needle or stylus is run. Traditionally, these records were used as the primary medium for commercial music production; however, they are now gaining immense traction among the new-generation artists as well.
The market is primarily being driven by rapid urbanization, along with the adoption of omnichannel retailing practices by vendors to increase their consumer base. Music collectors, audiophiles and disc jockeys (DJs) consider vinyl records as a prized possession and are increasingly using them for concerts, shows and music recordings. Furthermore, these records also represent a significant part of pop music history and heritage, which is increasing their demand significantly in the contemporary music scenario. Popular music labels are organizing events to release and offering deluxe or limited-edition albums to promote vinyl records. Additionally, product manufacturers are integrating various technological advancements in the records to enhance disc capacity, maintain high-definition (HD) audio quality and minimize the overall costs of production. Other factors, such as aggressive promotional activities by celebrities and music personalities, along with increasing expenditure capacities of consumers, are projected to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global vinyl record market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, feature, gender, age group, application and distribution channel.
Breakup by Product:
LP/EP Vinyl Records
Single Vinyl Records
Breakup by Feature:
Breakup by Gender:
Breakup by Age Group:
Breakup by Application:
Breakup by Distribution Channel:
Supermarkets and Hypermarkets
Breakup by Region:
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being GZ Media, Implant Media Pty Ltd., Independent Record Pressing, MPO International (Aker Solutions), Optimal Media (Brand Networks), PrimeDisc International Limited, Quality Record Pressings, R.a.n.d.muzik Record Manufacturing, Record Industry, Pallas Group, Stereodisk LLC, United Record Pressing, etc.
Key Questions Answered in This Report
1. What has been the impact of COVID-19 on the global vinyl record market?
2. What is the expected growth rate of the global vinyl record market?
3. What are the key factors driving the global vinyl record market?
4. What is the breakup of the global vinyl record market based on the product?
5. What is the breakup of the global vinyl record market based on the feature?
6. What is the breakup of the global vinyl record market based on the application?
7. What are the key regions in the global vinyl record market?
8. Who are the key companies/players in the global vinyl record market?
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