The market is dominated by domestic suppliers, as imports account for 43.5% of total market size in 2023. Households drive market demand, with household spending representing 69.6% of total demand in 2023. Canada has the eighth largest market size for musical instruments across the top 20 developed countries, with demand reaching USD800 million in 2023. Guitabec Inc is the largest company in Canada, generating 6.2% of the industry’s total production value in 2023. The industry is fragmented, with the top five companies generating 12.7% of total production value in 2023. The total number of companies increases in 2023, to 504 units. The costs of the industry decrease by 2% in 2023, largely driven by declining B2B costs. The industry’s profitability decreases and stands at 9.5% of production value in 2023, the 17th highest across the top 20 developed countries. The industry’s exports share increases in 2023 to 18.2% of total production output. With production value of USD400 million, Canada accounts for 12.8% of the North America total in 2023.
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This Euromonitor industrial report provides unique information on Musical Instruments in Canada: ISIC 3692. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Musical Instruments in Canada: ISIC 3692 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
Household Goods is an aggregation of Furniture, Jewellery and Related Articles, Musical Instruments; Imitation Jewellery, Brushes and Other Personal Items, Sports Goods, Toys and Games, Watches and Clocks.
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