Market Overview

Global Market

Musical Instruments and Equipment

In 2022 Music Trades estimated the global music products markets in 2021 to be $19.2 billion of which $6.2 billion was online. In 2023 Music Trades estimated that the ‘Top 50 global online retailers’ were growing at 2.2% per annum with the broader market trending down by a comparable amount; Gear4music was ranked the fifth largest global online retailer.

The top 10 European retail markets for musical instruments and music equipment (including the UK) are worth an estimated £5.0 billion and are undergoing a shift towards online retail.

Top European Markets
Country	Estimated Market Size (£m)*
Germany	1,394
France	1,006
UK	877
Italy	675
Netherlands	235
Austria	211
Spain	193
Switzerland	164
Sweden	125
Norway	96
Total Size	4,976

* = Management estimate

The Board believes that the dynamics of the UK competitive landscape presents a continuing consolidation opportunity. Whilst acquisitions of retail businesses do not form a core part of the current strategy, opportunities are reviewed on an ad hoc basis.

AV.com addressable Market

Management estimates the addressable European market size to be £2.7 billion.