Accordion Market

The article provides a detailed analysis of the global accordion and mouth organ market, forecasting a positive consumption trend with an expected increase in market volume and value by 2030. The study covers consumption patterns, market performance, production, imports, and exports, highlighting key countries, growth rates, and price trends. China emerges as a dominant player in production and exports, while the United States leads in imports. Various countries show different growth rates and trends in consumption, production, and trade of accordions and mouth organs. Overall, the article presents a comprehensive overview of the market dynamics and trends expected in the coming years.

Market Forecast

Driven by increasing demand for accordions and mouth organs worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.6% for the period from 2022 to 2030, which is projected to bring the market volume to 47M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +7.2% for the period from 2022 to 2030, which is projected to bring the market value to $3.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Accordions And Mouth Organs

In 2022, consumption of accordions and mouth organs decreased by -4.7% to 35M units, falling for the second year in a row after three years of growth. The total consumption volume increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Global consumption peaked at 38M units in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

The global accordion market size shrank slightly to $2B in 2022, declining by -3.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a strong increase. As a result, consumption reached the peak level of $2.5B. From 2020 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (14M units), Indonesia (8.3M units) and the United States (4.1M units), with a combined 73% share of global consumption. Argentina, Germany, Malaysia, Portugal, the Czech Republic, Turkey, Brazil and Canada lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +19.2%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest accordion markets worldwide were Indonesia ($166M), the United States ($130M) and the Czech Republic ($117M), together comprising 20% of the global market.

Indonesia, with a CAGR of +21.2%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of accordion per capita consumption in 2022 were Portugal (66 units per 1000 persons), the Czech Republic (63 units per 1000 persons) and Indonesia (30 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Portugal (with a CAGR of +19.6%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Accordions And Mouth Organs

In 2022, production of accordions and mouth organs decreased by -2.2% to 40M units, falling for the second year in a row after two years of growth. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 2.2%. Global production peaked at 41M units in 2020; however, from 2021 to 2022, production remained at a lower figure.

In value terms, accordion production expanded modestly to $739M in 2022 estimated in export price. Overall, the total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +61.6% against 2013 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 12% against the previous year. Over the period under review, global production hit record highs in 2022 and is likely to see gradual growth in the immediate term.

Production By Country

The country with the largest volume of accordion production was China (26M units), comprising approx. 67% of total volume. Moreover, accordion production in China exceeded the figures recorded by the second-largest producer, Indonesia (10M units), threefold. Germany (702K units) ranked third in terms of total production with a 1.8% share.

In China, accordion production remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Indonesia (+1.0% per year) and Germany (-0.1% per year).

Imports

World Imports of Accordions And Mouth Organs

In 2022, after three years of decline, there was significant growth in purchases abroad of accordions and mouth organs, when their volume increased by 18% to 15M units. In general, imports, however, showed a pronounced decline. Over the period under review, global imports attained the peak figure at 23M units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, accordion imports expanded significantly to $515M in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 12%. Over the period under review, global imports hit record highs at $557M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports By Country

The United States was the main importer of accordions and mouth organs in the world, with the volume of imports accounting for 4.2M units, which was approx. 28% of total imports in 2022. Japan (885K units) held the second position in the ranking, followed by China (782K units), Argentina (768K units), Germany (748K units), Malaysia (731K units) and Portugal (686K units). All these countries together took near 31% share of total imports. Turkey (623K units), Brazil (598K units), Canada (590K units), France (389K units), Thailand (341K units) and India (278K units) held a minor share of total imports.

Imports into the United States decreased at an average annual rate of -6.6% from 2012 to 2022. At the same time, China (+27.8%), Portugal (+19.0%), Turkey (+12.4%), India (+6.8%) and Thailand (+1.3%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in the world, with a CAGR of +27.8% from 2012-2022. Argentina experienced a relatively flat trend pattern. By contrast, Canada (-1.3%), Germany (-1.4%), France (-4.3%), Malaysia (-4.4%), Brazil (-4.7%) and Japan (-8.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Portugal, Turkey and Argentina increased by +5, +4.1, +3.4 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($145M) constitutes the largest market for imported accordions and mouth organs worldwide, comprising 28% of global imports. The second position in the ranking was held by Germany ($52M), with a 10% share of global imports. It was followed by Japan, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +1.7%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (-1.0% per year) and Japan (-3.4% per year).

Import Prices By Country

The average accordion import price stood at $35 per unit in 2022, dropping by -5.9% against the previous year. In general, import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, accordion import price increased by +57.8% against 2012 indices. The most prominent rate of growth was recorded in 2021 an increase of 17%. As a result, import price reached the peak level of $37 per unit, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was France ($81 per unit), while Argentina ($1.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+8.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Accordions And Mouth Organs

After three years of decline, overseas shipments of accordions and mouth organs increased by 19% to 19M units in 2022. In general, exports, however, continue to indicate a noticeable downturn. Over the period under review, the global exports reached the maximum at 31M units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, accordion exports rose rapidly to $541M in 2022. Overall, exports, however, showed a relatively flat trend pattern. The global exports peaked at $576M in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports By Country

China dominates exports structure, resulting at 14M units, which was near 72% of total exports in 2022. It was distantly followed by Indonesia (1.8M units), achieving a 9.7% share of total exports. Germany (713K units), Japan (569K units), Taiwan (Chinese) (409K units) and France (323K units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to accordion exports from China stood at -3.4%. At the same time, France (+7.8%) displayed positive paces of growth. Moreover, France emerged as the fastest-growing exporter exported in the world, with a CAGR of +7.8% from 2012-2022. By contrast, Japan (-2.2%), Germany (-4.7%), Taiwan (Chinese) (-5.3%) and Indonesia (-13.1%) illustrated a downward trend over the same period. China (+9.6 p.p.) and France (+1.7 p.p.) significantly strengthened its position in terms of the global exports, while Indonesia saw its share reduced by -14.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($113M), Germany ($87M) and Japan ($83M) were the countries with the highest levels of exports in 2022, with a combined 52% share of global exports.

Among the main exporting countries, China, with a CAGR of +1.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average accordion export price stood at $29 per unit in 2022, which is down by -7.7% against the previous year. Over the period under review, export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, accordion export price increased by +56.7% against 2012 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 18%. The global export price peaked at $31 per unit in 2021, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was France ($255 per unit), while China ($8.3 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+9.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform