United Kingdom: Accordion Market 2024

Accordion Market Size in the UK

The UK accordion market surged to $X in 2021, jumping by 34% 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, saw a perceptible decrease. Accordion consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Accordion Exports

Exports from the UK

Accordion exports from the UK dropped slightly to X units in 2021, declining by -2.6% against 2020 figures. In general, total exports indicated a moderate increase from 2012 to 2021: its volume increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -41.5% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 118% against the previous year. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, accordion exports surged to $X in 2021. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 45%. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United States (X units), Germany (X units) and the Netherlands (X units) were the main destinations of accordion exports from the UK, with a combined 56% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +36.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for accordions and mouth organs exports from the UK, comprising 46% of total exports. The second position in the ranking was held by Germany ($X), with an 18% share of total exports. It was followed by France, with a 5.1% share.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +11.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+34.2% per year) and France (+3.3% per year).

Export Prices by Country

The average accordion export price stood at $X per unit in 2021, jumping by 35% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Italy ($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 Ireland (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Accordion Imports

Imports into the UK

Accordion imports into the UK expanded markedly to X units in 2021, picking up by 5.9% against the previous year's figure. Over the period under review, imports, however, continue to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2019 when imports increased by 45% against the previous year. As a result, imports attained the peak of X units. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, accordion imports soared to $X in 2021. In general, imports, however, recorded a slight shrinkage. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest accordion supplier to the UK, with a 58% share of total imports. Moreover, accordion imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), eightfold. The third position in this ranking was taken by Germany (X units), with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-7.4% per year) and Germany (-10.3% per year).

In value terms, China ($X), Germany ($X) and France ($X) appeared to be the largest accordion suppliers to the UK, together accounting for 56% of total imports. Indonesia, Japan, the United States, the Netherlands, Pakistan, India, Taiwan (Chinese) and South Korea lagged somewhat behind, together accounting for a further 38%.

The Netherlands, with a CAGR of +53.5%, saw the highest rates of growth with regard to the value of imports, in terms of 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, increasing by 27% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2013 when the average import price increased by 29% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+14.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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