Mexico Musical Instrument Industry Outlook 2022 - 2026

Key Market Indicators

The Mexican musical instrument market is expected to reach $69 million by 2026, with a CAGR of 0.1%. Imports are set to decline year-over-year, falling from $65.6 million in 2021 to $65.4 million in 2026. Since 1995, Mexican demand has grown 1% annually. The country was ranked 23rd in 2021, with Malaysia coming in ahead at $65.6 million. Germany, China and Japan ranked 2nd, 3rd and 4th respectively in the rankings. Exports of Mexican musical instruments have decreased drastically, falling from $7.6 million in 2020 to $3.7 million in 2021, representing a 51.7% decline. From 1995 to 2021, Mexican supply has dropped 36.4%. The country was 43rd in 2021, with Latvia coming in ahead at $3.7 million. Germany, the United States and Japan ranked 2nd, 3rd and 4th respectively.

Mexico Musical Instrument Market Data and Forecasts

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