Asia: Accordion Market 2024

Accordion Market Size in Asia

For the third year in a row, the Asian accordion market recorded decline in sales value, which decreased by -3.3% to $X in 2021. Overall, consumption saw a slight decline. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Accordion Production in Asia

In value terms, accordion production rose sharply to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Accordion Exports

Exports in Asia

In 2021, approx. X units of accordions and mouth organs were exported in Asia; growing by 18% against the previous year. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, accordion exports expanded markedly to $X in 2021. Overall, exports, however, recorded a slight downturn. The growth pace was the most rapid in 2018 with an increase of 8.1% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

China was the major exporting country with an export of about X units, which reached 51% of total exports. Indonesia (X units) took the second position in the ranking, distantly followed by Japan (X units). All these countries together took near 41% share of total exports. The following exporters - Taiwan (Chinese) (X units) and South Korea (X units) - together made up 5.6% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by China (with a CAGR of +10.7%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest accordion supplying countries in Asia were China ($X), Japan ($X) and Indonesia ($X), with a combined 91% share of total exports.

In terms of the main exporting countries, Japan, with a CAGR of +0.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Asia amounted to $X per unit, with a decrease of -10.5% against the previous year. Overall, the export price showed a perceptible reduction. The growth pace was the most rapid in 2014 an increase of 16%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per unit), while South Korea ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+6.7%), while the other leaders experienced more modest paces of growth.

Accordion Imports

Imports in Asia

In 2021, overseas purchases of accordions and mouth organs decreased by -17.4% to X units, falling for the third year in a row after three years of growth. In general, imports continue to indicate a pronounced decrease. The growth pace was the most rapid in 2017 when imports increased by 15%. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, accordion imports soared to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

Japan represented the key importing country with an import of around X units, which recorded 49% of total imports. South Korea (X units) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by China (12%), Turkey (5.8%), Hong Kong SAR (4.9%) and Malaysia (4.9%). Taiwan (Chinese) (X units) followed a long way behind the leaders.

Imports into Japan decreased at an average annual rate of -1.1% from 2012 to 2021. At the same time, China (+12.4%), Turkey (+7.4%) and Hong Kong SAR (+4.6%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia, with a CAGR of +12.4% from 2012-2021. By contrast, Taiwan (Chinese) (-3.9%), Malaysia (-5.2%) and South Korea (-7.6%) illustrated a downward trend over the same period. Japan (+14 p.p.), China (+9.1 p.p.), Turkey (+3.8 p.p.) and Hong Kong SAR (+2.8 p.p.) significantly strengthened its position in terms of the total imports, while South Korea saw its share reduced by -3.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest accordion importing markets in Asia were Japan ($X), South Korea ($X) and China ($X), together accounting for 75% of total imports.

China, with a CAGR of +17.9%, saw the highest rates of growth with regard to the value of imports, in terms of 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 Asia stood at $X per unit in 2021, rising by 40% against the previous year. Import price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, accordion import price increased by +87.2% against 2017 indices. As a result, import 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 importing countries. In 2021, amid the top importers, the country with the highest price was Hong Kong SAR ($X per unit), while Turkey ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :