Canada: Accordion Market 2024

Accordion Market Size in Canada

The Canadian accordion market totaled $X in 2021, approximately equating 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 saw a abrupt setback. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Accordion Exports

Exports from Canada

Accordion exports from Canada reduced notably to X units in 2021, with a decrease of -50.7% on the previous year. Overall, exports continue to indicate a abrupt setback. The growth pace was the most rapid in 2020 when exports increased by 59%. Over the period under review, the exports reached the peak figure at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, accordion exports fell markedly to $X in 2021. In general, exports recorded a pronounced slump. The pace of growth appeared the most rapid in 2014 with an increase of 106%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for accordion exports from Canada, accounting for a 85% share of total exports. Moreover, accordion exports to the United States exceeded the volume sent to the second major destination, Japan (X units), more than tenfold. Spain (X units) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to -8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+27.6% per year) and Spain (+18.7% per year).

In value terms, the United States ($X) remains the key foreign market for accordions and mouth organs exports from Canada, comprising 85% of total exports. The second position in the ranking was held by Japan ($X), with a 4.5% share of total exports. It was followed by Spain, with a 2.3% share.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+34.7% per year) and Spain (+25.3% per year).

Export Prices by Country

In 2021, the average accordion export price amounted to $X per unit, picking up by 40% against the previous year. Over the period under review, export price indicated resilient growth 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. The pace of growth appeared the most rapid in 2014 an increase of 57% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Spain ($X per unit) and Australia ($X per unit), while the average price for exports to the United States ($X per unit) and China ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Accordion Imports

Imports into Canada

For the fourth consecutive year, Canada recorded decline in purchases abroad of accordions and mouth organs, which decreased by -25.9% to X units in 2021. Over the period under review, imports recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 3.8%. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, accordion imports reduced markedly to $X in 2021. In general, imports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2017 with an increase of 9.1%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Indonesia (X units) and the United States (X units) were the main suppliers of accordion imports to Canada, together comprising 55% of total imports. These countries were followed by Japan, Germany, Taiwan (Chinese) and France, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of -7.7%), while imports for the other leaders experienced a decline.

In value terms, the largest accordion suppliers to Canada were China ($X), Indonesia ($X) and the United States ($X), together comprising 55% of total imports. Japan, Germany, Taiwan (Chinese) and France lagged somewhat behind, together accounting for a further 32%.

Taiwan (Chinese), with a CAGR of -2.5%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average accordion import price amounted to $X per unit, with an increase of 11% against the previous year. In general, import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +5.7% 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 +64.4% against 2012 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Taiwan (Chinese) ($X per unit) and France ($X per unit), while the price for China ($X per unit) and Germany ($X per unit) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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