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Summary and extracts
1 Market overview
1.1 Definition and scope of study
The musical instruments market encompasses all types of instruments (strings, wind instruments, percussion instruments, etc.), related accessories (strings, mouthpieces, cases, etc.), as well as the various services offered by the industry's professionals (maintenance, repair, restoration, rental, etc.).
Worldwide, the sector is doing well, with estimated annual growth of 3.5% over the period 2023-2030. Music remains an attractive sector, with rising or constant demand in Asia-Pacific, North America and Europe.
In France, the industry is going through a more turbulent period. While the French are attached to music, only 16% play an instrument, the majority of which are based around the piano or guitar. Playing declines with age: while 18% of the under-25s play from time to time, the proportion drops to less than 8% of the over-45s. Distributors are suffering from competition from e-commerce and rising fixed costs, while manufacturers are struggling to differentiate themselves outside the high-end segment. Their top-quality instruments are recognized internationally and export well, but the low and mid-range segments are now in the hands of foreign producers, notably Asian: barely 2% of instruments sold new in France were manufactured in the country.
The sector is therefore fragile, especially asit remains highly fragmented: the vast majority of the 2,900 companies active in the field have no employees and operate on a small scale. 88% of companies also specialize in a single type of instrument.
Despite this delicate context, opportunities do exist. The difficulties faced by certain players, for example, offer opportunities for acquisition and external growth. While top-of-the-range instruments remain a safe bet for French manufacturers to expand abroad, second-hand instruments are gaining in importance: they already account for a third of annual sales in France, i.e. 500,000 instruments out of a total of 1.5 million, and the emergence of specific platforms and offers is likely to boost this segment a little further. Ecological concerns could also trigger a relocalization movement, as could increased support from the State and local authorities, via public procurement.
1.2 Global market
The global market for musical instruments (***). [***]
Sales forecasts for the musical instruments market World, ****-****, in billions of dollars Source: ****
Asia-Pacific is set to become the sector's leading territory, with a market share of **.*% in ****. The region's economic boom, which is driving up disposable income per capita, and the importance of music education are playing in the market's favor. Behind them, North America and Europe are still benefiting from the cultural weight of music to remain attractive territories. Finally, demand could also grow in South America, the Middle East and Africa, regions where the entertainment industry is expanding.
In distribution, physical stores remain the main channel for instrument sales, thanks to the expertise and advice they provide. Online sales continue to grow, however, with the emphasis on a richer offer and greater accessibility.
The market must, however, remain attentive to price variations affecting raw materials (***), which can influence prices and, consequently, demand. The global economic climate also appears to be a factor to watch. "In times of economic slowdown, demand for certain materials may decline, leading to a drop in the price and value of the end product. This factor is likely to restrict growth in the music tool market", points ...
1.3 French market
Musical instrument manufacturing(***) represented a market worth ***.* million euros in **** in France, up **% on ****. The sector grew steadily during this period, with the exception of ****, the year of the Covid-** crisis; but it took just two years to catch up and exceed its pre-crisis level.
sales trends in the musical instrument manufacturing market (***) France, ****-****, in millions of euros Source: ****
According to Les Echosthe global market for musical instruments, including distribution, will be worth just under *** million euros in ****. We can therefore deduce that manufacturing represents around **% of the market, with sales of almost *** million euros, and distribution **%, with sales of almost *** million euros.
Breakdown of musical instruments market sales France, ****, in millions of euros Source: ****
Despite the growth seen in recent years, the market remains fragile. In the first half of ****, **% of companies in the sector surveyed by CSFI (***) indicated that their cash flow was just sufficient or insufficient. **% also noted a drop in their number of customers, and **% a lack of renewal among their clientele. [***]
Among manufacturers, these difficulties are explained by increased international competition, with cheaper instruments coming from abroad. "Only *% of new instruments sold in France are produced here," says Fanny Reyre Ménard, President of CSFI, ...
1.4 French trade balance
Based on code ** (***) in the UN Comtrade database, it can be seen that France imports more than it exports in this sector. The trade balance reaches a negative peak in ****, at -$***.* million, before narrowing in the following years to fall to -$**.* million in ****.
trends in musical instrument imports and exports France, ****-**** Source: ****
China was France's main supplier in ****. The presence of Indonesia and Japan a little further down the ranking illustrates the preponderance of Asian countries in instrument manufacturing. Several European countries also stand out, particularly Germany, as well as the USA.
Main countries selling musical instruments to France France, ****, in millions of dollars Source: ****
In terms of exports, French instruments are mainly sold in Europe (***), although the main destination is the United States. Asia also retains its importance, with Japan, China and South Korea in the top **.
Main countries to which France exports musical instruments France, ****, in millions of dollars Source: ****
2 Demand analysis
2.1 Less than 2 in 10 French people play a musical instrument regularly
**% of French people played a musical instrument (***) in ****, of which only *% often. A quarter of the population had stopped playing, and **% had never played.
Proportion of French people who play a musical instrument France, ****, in Source: ****
The proportion of musicians decreases with age. While **% of under-**s play often or regularly, the proportion drops to **% among **-** year-olds, **% among **-** year-olds and *% among **-** year-olds. The market for musical instruments therefore mainly concerns a young audience, or parents accompanying their child(***), in **** in Les Echos.
Proportion of French people playing a musical instrument, by age group France, ****, in Source: ****
Slight differences can also be observed according to gender: **% of men play a musical instrument often or regularly, compared with **% of women.
Proportion of French people playing a musical instrument, by gender France, ****, in % Source: ****
2.2 Piano and guitar, France's two favorite instruments
Two families stand out as the most widespread among French musicians: pianos and organs, which concern almost half of all players, and plucked strings, around a third. More modern technologies (***) also play a significant role.
Instrument families most played by musicians France, ****, % of total Source: ****
In terms of instruments, piano and guitar are by far the most popular. Woodwinds and drums follow, ahead of a range of new-generation instruments. The accordion rounds off the top **.
Instruments most played by musicians France, ****, % of total Source: ****
These preferences are reflected in sales figures: in ****, pianos and organs as well as plucked strings accounted for more than half the volume of instruments sold in France.
Top-selling instrument families by volume breakdown France, ****, in Source: ****
Musicians are often multi-instrumentalists, since the average number of instruments played is *.*.
2.3 Typical profiles of adult musicians
The CSFI (***). Practice time varies greatly according to instrument.
Source: ****
2.4 Second-hand and rental: widespread practices
Second-hand instruments account for a third of all musical instrument purchases in France every year. The remainder is new (***).
Second-hand and rental thus account for **% of the sector, a significant weighting that is mainly explained by budgetary considerations. in fact, **% of buyers prefer second-hand for its lower cost, and **% for the possibility of acquiring a particular model.
Reasons given for buying a musical instrument second-hand France, ****, in Source: ****
The proportion is similar for rental, where cost is the main reason for **% of respondents, ahead of flexibility of use at **%.
Reasons given for preferring to rent a musical instrument France, ****, in Source: ****
2.5 Accessories and maintenance/repair, related segments with significant demand
Accessories
Nearly one in two musicians purchased at least one accessory for their instrument between **** and ****, indicating that this segment reaches a significant proportion of the musical clientele. Young people are over-represented among accessory enthusiasts, with **% of **-** year-olds having purchased at least one accessory during this period.
Proportion of musicians having purchased at least one accessory for their instrument(***) in the previous two years France, ****, in % Source: ****
Guitarists are major consumers of accessories: the three most popular items (***) are related to their instrument.
Most frequently purchased musical instrument accessories France, ****, in Source: ****
Maintenance/repair
Around a third of musicians have taken their instrument in for maintenance/repair at least once between **** and ****. The proportion is higher among young people, with **% of **-** year-olds having used these services. "During the first years of learning an instrument, less autonomy with the instrument requires more frequent recourse to professionals," notes the CSFI.
Proportion of musicians who have used at least one maintenance/repair service in the previous five years France, ****, in % Source: ****
Accordions, DJ equipment and bowed strings are the three instrument families most concerned by these services.
Instrument families for which players have used at least one maintenance/repair service in the ...
3 Market structure
3.1 Market value chain
The musical instruments market value chain comprises several main types of player:
Manufacturing relies on manufacturers and craftsmen, who depend on suppliers of materials and raw materials; Distribution includes specialized stores, which often provide additional services such as maintenance/repair, general stores and web-based pure-players; The final clientele is made up of both amateur musicians, and professional musicians and orchestras, with different expectations.
According to Les Echosthe sector involves *,*** companies, two-thirds of which are active in manufacturing, maintenance and rental, and just under a third in distribution. **% of these companies specialize in one type of instrument.
This fragmentation "penalizes the sector", since the majority of these players are very small companies with few resources to adapt to market developments. In ****, **% of the companies surveyed by the CSFI in its biannual survey had no employees other than the CEO, and only **% employed more than ** people. [***]
Distribution of musical instrument companies by activity France, ****, in Source: ****
3.2 Manufacturing
Leading musical instrument manufacturers
The CSFI (***) has launched the Luthiers et Facteurs de France label, promoting the manufacture and restoration of instruments made in France. At the beginning of ****, ** companies held this label:
Other well-known French manufacturers not on this list include Pleyel (***), are very small or even micro-companies, with no employees.
French companies generally specialize in one instrument or a family of instruments. In contrast, the world's leading market players often offer a wider range of products:
Employers in France
*** employing establishments, with at least one employee, were registered under NAF code **.**z, corresponding to the manufacture of musical instruments, in ****. This number rose steadily between **** and ****, despite the Covid-** crisis, but has been in slight decline ever since.
change in the number of establishments registered under NAF code **.**z (***) France, ****-****, in units Source: ****
conversely, the number of salaried employees in the branch fell between **** and ****, a sign that the health crisis has still had an impact on the sector. Between **** and ****, however, the number of salaried employees in the sector increased again.
evolution of salaried employees in establishments registered under NAF code **.**z (***) France, ****-****, in units Source: ****
As for the geographical distribution of these establishments, almost ...
3.3 Distribution
The majority of musical instrument distribution takes place in physical outlets: **% of sales volumes are in general and specialized stores, and in cultural superstores.
Weight of distribution channels in musical instrument sales volumes France, ****, in Source: ****
Apart from supermarkets, these physical players in distribution "are mainly very small and micro-companies", notes Les Echos noted in ****. These stores often operate independently, and "there are very few medium-sized companies", continues the business newspaper. Nevertheless, a few networks are emerging, such as Star's Music (***), which has six stores and six partner boutiques, and Woodbrass, which has four stores in Paris. Woodbrass was bought out in **** by Algam, a specialist in BtoB distribution, which thus entered the consumer market. [***] Other BtoB distributors are quite active, such as Music Global, which has set up its Rockstation corners in over a hundred supermarkets.
At the same time, e-commerce continues to grow , accounting for **% of the sector's sales volume. Specialized sites are preferred by **% of customers, ahead of generalist sites at **%.
Breakdown of online musical instrument buyers by type of site preferred France, ****, in Source: ****
Online sales thus represent growing competition for traditional physical stores, which have to contend with giants such as Germany's Thomann (***) had no online ...
3.4 A turbulent climate of acquisitions and closures
"In France, clouds are gathering over musical instrument dealers and manufacturers", reported Les Echos reported at the end of ****. The industry is going through a turbulent period, with a gloomy general economic climate, competition from international manufacturers and e-commerce, and more. In the first half of ****, **% of companies in the sector indicated that their cash flow was just sufficient, and **% insufficient.
Cash position of companies in the musical instruments industry France, ****, in Source: ****
This climate can, however, prove favorable for acquisition operations, with the best-performing players acquiring those in difficulty. A number of investment funds are also taking part in this trend. The following is a list of some of the most significant deals to have taken place in recent years:
distributor Algam took over Pleyel, a piano manufacturer, in ****, then Woodbrass, mainly active in online sales, in ****;[***] european fund Argos Soditic has controlled Henri Selmer Paris, a wind instrument manufacturer, since ****;[***] Buffet Crampon, manufacturer of wind instruments, acquired Bergerault, manufacturer of percussion instruments, in ****;[***] the Franco-Chinese fund Trail Capital, owner of Buffet Crampon since ****, sold it to the Belgian fund Alcopa at the end of ****;[***]
The complex situation is also leading to the closure of several businesses, including historic specialty ...
4 Offer analysis
4.1 Offer and products
The musical instruments market encompasses a large number of different instruments, which can be divided into different categories:
plucked instruments: guitars, basses, ukuleles, banjos... bowed string instruments: violins, violas, cellos... woodwind and brass instruments: saxophones, oboes, trumpets, flutes, accordions... drums and percussion: drums, drums, maracas... keyboards and organs: pianos, organs... electronic instruments: synthesizers, digital keyboards and pianos...
There are also a wide range of accessories for all or some of these categories: strings for stringed instruments, mouthpieces and reeds for wind instruments, protective cases, etc.
4.2 Prices
Musical instruments come in extremely wide price brackets, given the diversity of the audience for which they are intended (***), synonymous with as many different uses. Prices are therefore extremely varied.
The table below, based on the catalogs of the Woodbrass and Thomann sales sites, also shows that some instruments are more affordable than others. For example, it's possible to buy any type of guitar for under €***, whereas a violin or a drum kit would cost more. Pianos, on the other hand, stand out for their very high prices as soon as they stop being digital.
Source: ****
4.3 French manufacturers focus on top-of-the-range products and exports
"Premium manufacturing is still well established in France," emphasized Fanny Reyre Ménard, President of CSFI (***) at the end of ****. Many French manufacturers are focused on the top end of the market, in order to stand out from low-cost foreign competition. In the clarinet segment, two French manufacturers, Buffet Crampon and Henri Selmer Paris, offer the most expensive instruments on the Thomann sales site.
Average clarinet price by brand Europe, ****, in euros Source: ****
In the saxophone segment, Henri Selmer Paris is once again the most expensive, with an average price **% higher than its nearest competitor.
Average saxophone price by brand Europe, ****, in euros Source: ****
"Lighterweights are flagships, such as oboe makers Lorée and Marigaux (***)", adds Les Echos.
This top-of-the-range, even very top-of-the-range positioning enables these manufacturers to shine internationally. Also according to Les Echosthe leading French musical instrument manufacturers export **% of their production. Henri Selmer Paris, for example, achieves only **% of its sales in France, and has expanded into the USA and Japan. "Market trends are pushing us to open up to other markets, such as South America, where there is certainly potential," explains Thierry Oriez, the manufacturer's president, in early **** in Le Figaro. For its part, Algam indicated ...
4.4 Ecological concerns encourage relocation
Several manufacturers are defending made in France by promoting more virtuous production, using French wood or biomaterials. "At the last Guitar Summit in Mannheim at the end of September, the industry's big event, I was again appalled to see the extent to which manufacturers were concerned about bringing out instruments with original shapes but stuffed with plastics", said Jonathan Berg, founder of Berg, an ecological electric guitar brand using French wood or biomaterials.jonathan Berg, founder of Berg, an ecological electric guitar brand using French wood, bio-sourced materials for its protective plates, and vegan leather for its cases, said at the end of ****. [***]
Other companies are defending this ecological positioning. Prodipe and luthier Fred Kopo have teamed up to develop the KAP, a guitar available in flax fiber (***). "The design is such that you don't need to be a luthier. And with just one extra job, you could assemble twice as many," says Frédéric Pons, the craftsman behind the pseudonym Fred Kopo. [***]
Like other made-in-France manufacturers, the advocates of a more ecological production method - still few in number - are positioning themselves at the top end of the market, due to higher manufacturing costs. The guitar, the instrument ...
4.5 Second-hand: a segment with many opportunities
Of the *.* million musical instruments sold in France every year, a third are second-hand.
Breakdown of annual sales between new and used musical instruments France, ****, in units Source: ****
This segment is therefore becoming a must for the industry, particularly for distributors, who are seeking to capture this sales channel and compete with generalist classified ad platforms by offering more guarantees. In ****, **% of businesses in the sector that had implemented second-hand sales saw their sales linked to this activity increase compared to the previous year, while sales remained stable for **%. [***]
Online, specific platforms are appearing, such as Zic Ethic, launched in ****, or Green Musicians, born in ****. The latter is aiming for sales of around ** million euros by ****, and intends to forge partnerships with physical stores. "Today, there are many generalist platforms for private sales, but the market for musical instruments is not served by a real specialist in these products. We want to provide a response adapted to musicians' expectations. [***]
The opportunity is also winning over the manufacturers themselves: Henri Selmer Paris has launched its second-hand offer to broaden its audience, while guaranteeing the quality of the instruments resold through this channel. "We renovate them and guarantee them. This enables us to ...
5 Regulations
5.1 Regulations
Regulations governing musical instruments, generally international in scope, focus mainly on the raw materials used by manufacturers.
Wood products
In ****, the illegal wood trade accounted for **% to **% of the global wood products market, according to Interpol. In ****, all rosewood species were listed on CITES Appendix II, forcing instrument manufacturers to apply for permits to sell their products. [***]
Ivory
In ****, the Ministry of Ecological Transition published an order banning the trade of ivory on national territory. Yet this material is used to make bows and in the piano keyboard restoration sector in the pre-**s. On May *, ****, this decree was amended, allowing professionals to continue their work. They can now use ivory and sell products containing it as long as the material entered European territory before January **, ****.
Nickel
Nickel is widely used in the manufacture of instruments, particularly strings, as it ensures excellent tone and fights corrosion. It thus guarantees the quality and longevity of the instrument. However, regulations on nickel date back to ****, and were subsequently transcribed into the REACH Regulation in ****. This regulation stipulates that all objects coming into direct and prolonged contact with the skin must not release more than *.* µg nickel/cm²/week. Instruments are considered a special ...
6 Positioning the players
6.1 Segmentation
- Henri Selmer Paris
- Woodbrass
- Yamaha Music
- Fender
- Buffet Crampon
- Gibson
- Marigaux Paris
- Maugein Accordeons
- Roland
- Thomann
- Steinway Musical Instruments
- Kawai
- C.F. Martin & Company
- Pioneer DJ
- Camac
- Savarez
- Prodipe
- Berg
- Guitare et Création
- Lorée de Gourdon
- Vandoren
- Algam
- Green Musicians
- Music Global
- Star's Music
- Zic Ethic
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