European Union's Headphone Market Poised for Steady 2.0% CAGR Growth in Value Through 2035

IndexBox has just published a new report: EU - Headphones - Market Analysis, Forecast, Size, Trends and Insights.

The EU headphone market is forecast to grow at a CAGR of +0.5% in volume and +2.0% in value from 2024 to 2035, reaching 342M units and $17.4B respectively. Despite a slight consumption dip in 2024 to 325M units, the market revenue grew 11% to $14.1B. France, Poland, and Germany are the largest consumers by volume, while the Netherlands is the dominant producer and exporter. Import prices have fallen significantly from a 2016 peak, while export prices are rising, indicating a shift towards higher-value products.

Key Findings

• EU headphone market value projected to grow at a 2.0% CAGR, reaching $17.4B by 2035
• Market volume to expand at a slower 0.5% CAGR, reaching 342M units by 2035
• France, Poland, and Germany are the top consuming countries by volume, together accounting for 37% of total consumption
• The Netherlands is the largest producer and exporter, responsible for 50% of all EU headphone exports
• Significant price disparity exists, with Czech imports at $131/unit versus Italian imports at $27/unit

Market Forecast

Driven by increasing demand for headphones in the European Union, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.5% for the period from 2024 to 2035, which is projected to bring the market volume to 342M units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.0% for the period from 2024 to 2035, which is projected to bring the market value to $17.4B (in nominal wholesale prices) by the end of 2035.

Consumption

European Union's Consumption of Headphones

After two years of growth, consumption of headphones decreased by -8.6% to 325M units in 2024. Overall, consumption, however, saw prominent growth. Over the period under review, consumption hit record highs at 356M units in 2023, and then contracted in the following year.

The revenue of the headphone market in the European Union expanded significantly to $14.1B in 2024, with an increase of 11% 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). In general, consumption, however, showed a strong expansion. The level of consumption peaked in 2024 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were France (53M units), Poland (37M units) and Germany (30M units), with a combined 37% share of total consumption. The Netherlands, Italy, the Czech Republic, Belgium, Romania, Sweden and Austria lagged somewhat behind, together comprising a further 43%.

From 2012 to 2024, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Sweden (with a CAGR of +22.2%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, the largest headphone markets in the European Union were France ($2B), the Czech Republic ($1.9B) and Germany ($1.7B), together comprising 40% of the total market. Poland, Sweden, the Netherlands, Austria, Romania, Italy and Belgium lagged somewhat behind, together accounting for a further 44%.

In terms of the main consuming countries, Sweden, with a CAGR of +27.9%, saw the highest rates of growth with regard to market size over the period under review, while market for the other leaders experienced more modest paces of growth.

The countries with the highest levels of headphone per capita consumption in 2024 were the Czech Republic (2 units per person), Belgium (1.6 units per person) and Sweden (1.6 units per person).

From 2012 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Sweden (with a CAGR of +21.1%), while consumption for the other leaders experienced more modest paces of growth.

Production

European Union's Production of Headphones

In 2024, production of headphones increased by 0.3% to 255M units, rising for the third consecutive year after two years of decline. The total output volume increased at an average annual rate of +3.6% from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when the production volume increased by 26% against the previous year. The volume of production peaked in 2024 and is likely to continue growth in years to come.

In value terms, headphone production surged to $13.1B in 2024 estimated in export price. In general, production saw a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of 28% against the previous year. Over the period under review, production attained the peak level in 2024 and is likely to see steady growth in the immediate term.

Production By Country

The countries with the highest volumes of production in 2024 were the Netherlands (44M units), France (36M units) and Poland (35M units), together accounting for 45% of total production.

From 2012 to 2024, the biggest increases were recorded for the Netherlands (with a CAGR of +12.6%), while production for the other leaders experienced more modest paces of growth.

Imports

European Union's Imports of Headphones

In 2024, the amount of headphones imported in the European Union reduced to 219M units, waning by -12.2% compared with 2023 figures. Over the period under review, imports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 when imports increased by 364%. The volume of import peaked at 265M units in 2021; however, from 2022 to 2024, imports failed to regain momentum.

In value terms, headphone imports soared to $9.6B in 2024. In general, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2020 when imports increased by 48% against the previous year. Over the period under review, imports hit record highs in 2024 and are expected to retain growth in years to come.

Imports By Country

In 2024, the Netherlands (58M units), distantly followed by Germany (32M units), Italy (22M units), France (22M units), Spain (16M units), Belgium (12M units) and Poland (11M units) represented the main importers of headphones, together mixing up 79% of total imports. The following importers - the Czech Republic (6.9M units), Sweden (5.2M units) and Austria (4.7M units) - together made up 7.6% of total imports.

From 2012 to 2024, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Italy (with a CAGR of +29.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($1.9B), Germany ($1.9B) and the Czech Republic ($897M) constituted the countries with the highest levels of imports in 2024, together comprising 49% of total imports.

The Czech Republic, with a CAGR of +25.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices By Country

The import price in the European Union stood at $44 per unit in 2024, increasing by 45% against the previous year. In general, the import price, however, showed a deep downturn. The growth pace was the most rapid in 2015 an increase of 197%. Over the period under review, import prices reached the peak figure at $410 per unit in 2016; however, from 2017 to 2024, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($131 per unit), while Italy ($27 per unit) was amongst the lowest.

From 2012 to 2024, the most notable rate of growth in terms of prices was attained by the Czech Republic (+37.7%), while the other leaders experienced more modest paces of growth.

Exports

European Union's Exports of Headphones

In 2024, approx. 149M units of headphones were exported in the European Union; approximately reflecting the year before. Overall, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2020 with an increase of 49% against the previous year. Over the period under review, the exports attained the maximum at 160M units in 2022; however, from 2023 to 2024, the exports stood at a somewhat lower figure.

In value terms, headphone exports soared to $7.8B in 2024. In general, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 74%. The level of export peaked in 2024 and is expected to retain growth in the immediate term.

Exports By Country

In 2024, the Netherlands (74M units) was the key exporter of headphones, achieving 50% of total exports. It was distantly followed by Germany (19M units), Poland (8.7M units) and Belgium (8.5M units), together creating a 24% share of total exports. The Czech Republic (6.3M units), Spain (6.1M units), France (4.9M units), Italy (3.4M units), Sweden (3.2M units) and Denmark (2.9M units) held a minor share of total exports.

The Netherlands was also the fastest-growing in terms of the headphones exports, with a CAGR of +24.7% from 2012 to 2024. At the same time, Poland (+24.2%), Spain (+22.2%), Belgium (+13.9%), Italy (+13.2%), France (+9.5%), the Czech Republic (+5.4%), Germany (+4.8%) and Denmark (+3.5%) displayed positive paces of growth. Sweden experienced a relatively flat trend pattern. The Netherlands (+34 p.p.), Poland (+3.9 p.p.) and Spain (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while France, Denmark, the Czech Republic, Sweden and Germany saw its share reduced by -1.7%, -3.8%, -5.9%, -7% and -19.9% from 2012 to 2024, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest headphone supplying countries in the European Union were the Netherlands ($2.5B), Germany ($1.3B) and the Czech Republic ($969M), with a combined 60% share of total exports. Italy, Poland, Belgium, Sweden, Spain, France and Denmark lagged somewhat behind, together comprising a further 30%.

Italy, with a CAGR of +30.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices By Country

The export price in the European Union stood at $53 per unit in 2024, growing by 34% against the previous year. Export price indicated notable growth from 2012 to 2024: its price increased at an average annual rate of +4.4% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Italy ($179 per unit), while the Netherlands ($33 per unit) was amongst the lowest.

From 2012 to 2024, the most notable rate of growth in terms of prices was attained by Italy (+15.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform