Vinyl Records Market size to grow by USD 563.97 million| Technavio
NEW YORK, March 15, 2022 /PRNewswire/ — According to the research report “Vinyl Records Market by Product and Geography – Forecast and Analysis 2021-2025”, the market witnessed a YOY growth of 6.97% in 2021 and a CAGR of 8.41% during the forecast period. The report is segmented by product (LP/EP vinyl records and single vinyl records) and geography (North America, APAC, Europe, South America, and MEA).
The report covers the following areas:
Vinyl Records Market size
Vinyl Records Market trends
Vinyl Records Market industry analysis
Geographical Market Analysis
North America will provide maximum growth opportunities in the vinyl records market during the forecast period. According to our research, the region will contribute to 32% of the global market growth during the forecast period. The US is the major market for vinyl records in North America.
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Key Segment Analysis
The vinyl records market share growth by the LP/EP vinyl records segment will be significant during the forecast period. Rising popularity, as well as promotional activities of EP records, would further propel the demand for LP/EP vinyl records.
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Key Market Drivers & Challenges:
The aesthetic appeal of vinyl records is one of the key factors driving the growth of the vinyl records market. Vinyl records are one of the fastest-selling and growing mediums of music, despite the acceptance of digital media. Such records are preferred by collectors, audiophiles, and DJs.
Coping with the demand is a major challenge being faced by manufacturers. The limited stock of factories compared to the huge number of labels worldwide has created a major challenge for the supply side of vinyl records. A few plants operating across the world that press records have been trying to meet the huge demand, which has resulted in long delays and other production problems.
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CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will assist vinyl records market growth during the next five years
Estimation of the vinyl records market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the vinyl records market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of vinyl records market vendors
Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled
GZ Media AS, Implant Media Pty Ltd., Microforum Services Group, MPO France, Optimal media GmbH, Pallas Group, PrimeDisc International Ltd., Quality Record Pressings, Record Industry BV, and United Record Pressing
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
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SOURCE – Technavio