The market is dominated by domestic suppliers, as imports account for 46.0% of total market size in 2022. Households drive market demand, with household spending representing 69.6% of total demand in 2022. Canada has the seventh largest market size for musical instruments across the top 20 developed countries, with demand reaching USD895 million in 2022. Guitabec Inc is the largest company in Canada, generating 5.8% of the industry’s total production value in 2022. The industry is fragmented, with the top five companies generating 11.9% of total production value in 2022. The total number of companies increases in 2022, to 502 units. The costs of the industry increase by 10.1% in 2022, largely driven by rising B2B costs. The industry’s profitability decreases and stands at 9.7% of production value in 2022, the 13th highest across the top 20 developed countries. The industry’s exports share decreases in 2022 to 18.2% of total production output. With production value of USD409 million, Canada accounts for 13.8% of the North America total in 2022.
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This Euromonitor industrial report provides unique information on Musical Instruments in Canada: ISIC 3692. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Musical Instruments in Canada: ISIC 3692 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
Household Goods is an aggregation of Furniture, Jewellery and Related Articles, Musical Instruments; Imitation Jewellery, Brushes and Other Personal Items, Sports Goods, Toys and Games, Watches and Clocks.
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