South Korea Musical Instrument Industry Outlook 2022 - 2026

Key Market Indicators

Export of musical instruments from Korea is predicted to drop 4.2% annually over the next five years, from $80 million in 2021 to $80 million 2026. In 2021, Korea was the twelfth biggest exporter of such instruments, with Belgium overtaking them with $103 million. Germany, the US and Japan respectively came in second, third and fourth place. Import of musical instruments into Korea is estimated to grow 1.1% annually over the next five years, from $209 million in 2021 to $223 million in 2026. Last year, Canada was the leading importer, followed by Germany, China and Japan. Korea was eighth in the ranking. Since 1993, demand for musical instruments in Korea has increased by 1.7% each year.

South Korea Musical Instrument Market Data and Forecasts

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