Vinyl Records Market Size, Share, Growth, And Industry Analysis, By Type (Black Vinyl Records and Colored Vinyl Records), By Application (Private and Commerce), Regional Forecast To 2032

Vinyl Records Market Report Overview

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The Vinyl Records Market size is expected to grow USD 239.4 Million in 2021 to USD 1126.18 Million by 2032 at a Compound Annual Growth (CAGR) of 15% from 2021 to 2032.

A vinyl record, often known as a phonograph record, is an analogue audio recording device that consists of a polyvinyl chloride plastic disc. The modulated sound data is written in patterns on the surface materials of the discs, which can have a metallic, resins, cardboard, or crystal center. A solitary concentric spiral groove, carved on both sides of the disc, is used to run a sapphire or diamond needle or stylus. These recordings have historically served as the main platform for the creation of mainstream pop, but newer generations of artists are now giving them a lot of attention as well.

Rapid urbanization is the main factor driving the market, and suppliers are using omnichannel retailing strategies to expand their customer bases. Vinyl are cherished possessions for music lovers, DJs, and music collectors, and they are frequently used for live performances, recordings, and DJ sets. These records also play a vital role in the heritage and history of pop music, which has a big impact on demand in the modern music scene. To advertise vinyl, well-known music labels host events for the release of new albums and provide deluxe or limited edition recordings. In order to increase disc capacity, preserve high-definition (HD) audio quality, and reduce total production costs, product producers are also incorporating numerous technological breakthroughs in the records.

COVID-19 Impact: Supply Chain Disruptions Brought on by the Pandemic

The COVID-19 epidemic has had a huge effect on the music industry. Sales decreased as a result of the lockdown that prompted many record shops to close during the start of the epidemic. In addition, the outbreak affected supply networks, slowing traffic in manufacturing and distribution as well as a rise in vinyl record pricing. The shortfall was made worse by some record companies' difficulties in having their releases produced and transported.

Latest Trends

"Direct-to-Consumer Sales has Increased the Demand for the Vinyls"

Records are increasingly being sold directly to customers by musicians and record labels instead of through traditional shops. This gives them the ability to choose the price and speak directly to their audience, as well as guaranteeing that more of the proceeds be returned to the artist. Additionally, vinyl albums continue to be in demand even though digital music is widely accessible. Due to the richness and depth of the sounds produced by the physical medium, as well as the distinctive sensation of spinning records on turntables, numerous individuals are drawn to it.

Vinyl Records Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Black Vinyl Records and Colored Vinyl Records

• By Application Analysis

Based on application, the market can be divided into Private and Commerce

Driving Factors

"Industry is Being Driven by the Vinyl’s Visual Appeal"

One of the most distinguishing qualities of vinyl records is its capacity to convey significant historical and cultural moments in pop music while still giving listeners a sense of the contemporary and urban cultural context. The aesthetic attractiveness of these items is the main factor considered when determining their value. Due to the gorgeous packaging and imaginative presentation of most vinyl albums, music aficionados collect them as collectibles. The market for records has increased as a result of all these causes, and this pattern is anticipated to remain throughout the projected timeline.

"Promoting Vinyl Albums as Limited Editions is Impacting the Market's Expansion"

Although young people purchase more vinyl albums for their favorite recordings, they still consume music on a variety of devices and in varied formats. In light of this, individual players are attempting to distinguish their product portfolio by releasing special and premium versions of their copies. In order to appeal to different groups of customers, companies are creating customized artwork, colored variants, and textured vinyl albums. They furthermore get requests for modification and variants. Customers are getting more interested in special releases as they retain recordings as a collectible and view them as a prestige or niche commodity.

Restraining Factors

"Growth of the Records Industry is being Hampered by the Expanding Market for Online Music Streaming"

The development of the vinyl records market growth will be hampered by the risk presented by music streaming sources. A change is taking place in the music business. The streaming style, which has seen substantial growth in recent years, is trendy right now. People are becoming more likely to download music and subscribe to music services. The revenues of physical album forms such as vinyl albums could be negatively impacted by this. The expansion of the U.S. music industry is also being fueled in part by the rising amount of paid music streaming memberships. In addition, portability and accessibility are significant factors in the expansion of the internet radio and digital music industries.

Vinyl Records Market Regional Insights

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"Strong Purchasing Power of the Population in the Area Will Have a Desirable Effect on the Sector"

By the conclusion of the forecast year, North America is anticipated to contribute a sizable percentage of vinyl records market share. The market for vinyl in the area receives the majority of its earnings from the U.S. The U.S. music market is expanding due to the large population's strong purchasing power. The vast population's great spending power, which enables them to purchase the records, is indicated by the substantial GDP per capita. The country's music market will probably produce more money as a result of this. Every year, vinyl sales figures in the US increase, which will likely have a favorable impact on the market's expansion in the region over the forecast timeline.

Key Industry Players

"Key Players Focus on Advancements and Contract Extensions to Attract More Customers"

The competitive landscape for vinyl is dispersed globally. Due to the existence of numerous retailers selling vinyl records, there is fierce rivalry in the field. To keep their market dominance, vendors concentrate on advancements. Contract extensions with clients are typical for vendors that operate in this industry. As a way to attract more customers, vendors are embracing multichannel commerce.

LIST OF TOP VINYL RECORDS COMPANIES

• GZ Media (Czech Republic)
• MPO International (France)
• Optimal Media (India)
• Record Industry (U.S.)
• United Record Pressing (U.S.)
• Pallas (U.S.)
• Rainbo Records (U.S.)
• Quality Record Pressings (Acoustic Sounds) (U.S.)

Report Coverage

This report covers the vinyl records market. The CAGR expected to be in during the forecast period, and also the USD value in 2021 and what it is expected to be in 2032. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.