According to IMARC Group’s latest report, titled “Vinyl Record Market Size: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the market to reach register a CAGR of around 7% during 2020-2025.
A vinyl record, or phonograph record, is an analog sound storage device that uses a polyvinyl chloride-based plastic disc. The discs have modulated sound information inscribed in the surface materials in grooves. A vinyl record can have a metal, resin, cardboard, or glass core and is incised on both sides with a single concentric spiral groove, and a sapphire/diamond needle/stylus. These records were earlier used as the primary medium for commercial music production; however, they are now gaining traction among the new-generation artists.
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Market Trends
Rapid urbanization and the adoption of omnichannel retailing practices by vendors to widen their consumer base are propelling the demand for the vinyl record market. Music collectors, audiophiles, and disc jockeys (DJs) are widely using these records for concerts, shows, and music recordings. Furthermore, the demand for vinyl records is significantly increasing in the contemporary music scenario, being a significant part of pop music history and heritage. Popular music giants are releasing and offering deluxe or limited-edition albums to promote vinyl records. Additionally, several technological advancements in the records to increase disc capacity, maintain high-definition (HD) audio quality and reduce the overall production costs are further augmenting the market growth. Moreover, aggressive promotional activities and growing consumer disposable income levels are also projected to drive the vinyl record market.
Vinyl Record Market 2020-2025 Analysis and Segmentation:
The report has segmented the market on the basis of product, feature, gender, age group, application, distribution channel and region.
Breakup by Product:
- LP/EP Vinyl Records
- Single Vinyl Records
Breakup by Feature:
- Colored
- Gatefold
- Picture
Breakup by Gender:
- Men
- Women
Breakup by Age Group:
- 13-17
- 18-25
- 26-35
- 36-50
- Above
Breakup by Application:
- Private
- Commercial
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Independent Retailers
- Online Stores
- Others
Explore full report with table of contents: https://www.imarcgroup.com/vinyl-record-market
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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