Russian Federation: Accordion Market 2024

Accordion Market Size in the Russian Federation

The Russian accordion market expanded significantly to $X in 2021, growing by 12% 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). Over the period under review, consumption, however, showed a noticeable decrease. Accordion consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Accordion Exports

Exports from the Russian Federation

In 2021, overseas shipments of accordions and mouth organs decreased by -3% to X units, falling for the second consecutive year after four years of growth. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 41%. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, accordion exports reached $X in 2021. Overall, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2019 when exports increased by 87%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Belarus (X units), Kazakhstan (X units) and Ukraine (X units) were the main destinations of accordion exports from Russia, together accounting for 92% of total exports. These countries were followed by the United States and Australia, which together accounted for a further 6.2%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +41.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X), Belarus ($X) and the United States ($X) appeared to be the largest markets for accordion exported from Russia worldwide, together accounting for 81% of total exports. These countries were followed by Ukraine and Australia, which together accounted for a further 7.4%.

Among the main countries of destination, Australia, with a CAGR of +52.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average accordion export price stood at $X per unit in 2021, surging by 14% against the previous year. In general, the export price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 52%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Ukraine ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+21.8%), while the prices for the other major destinations experienced more modest paces of growth.

Accordion Imports

Imports into the Russian Federation

In 2021, imports of accordions and mouth organs into Russia totaled X units, remaining stable against the year before. Over the period under review, imports, however, recorded a abrupt downturn. The pace of growth appeared the most rapid in 2013 with an increase of 71% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, accordion imports expanded markedly to $X in 2021. Overall, imports posted measured growth. The pace of growth was the most pronounced in 2019 with an increase of 84% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Germany (X units) constituted the largest accordion supplier to Russia, accounting for a 41% share of total imports. Moreover, accordion imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), twofold. France (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-17.7% per year) and France (-6.4% per year).

In value terms, the largest accordion suppliers to Russia were Germany ($X), China ($X) and France ($X), with a combined 64% share of total imports. Indonesia, Japan, the United States and the UK lagged somewhat behind, together comprising a further 28%.

The United States, with a CAGR of +42.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average accordion import price stood at $X per unit in 2021, picking up by 13% against the previous year. In general, the import price saw a resilient expansion. The pace of growth appeared the most rapid in 2020 when the average import price increased by 82%. The import price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Indonesia ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+28.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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