Vinyl Record Market Size | Share Growth Analysis 2029

The global vinyl record market size was valued at USD 1,798.7 million in 2022 and is expected to grow at a 14.8% CAGR during the forecast period 2023 to 2029. The primary drivers of the expansion of the global vinyl record market include the increasing interest and preference of consumers in physical media. In addition, promotion of vinyl records by celebrities and increasing use of vinyl records in concerts, events by the music professionals is expected to boost the market growth.

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Long Play Vinyl Records Segment is expected to Dominate the Vinyl Record Market:
Based on the product type, the global Vinyl Record market is segmented into single vinyl records, and long play/EP vinyl records. The long play vinyl records segment is expected to account for a larger revenue share in the global vinyl record market. The long play vinyl record is referred to 33 1/3 rpm microwave vinyl record which is still most commonly used vinyl records today. The long play vinyl records are most famous among the clients due to their lengthy play hours. These factors are expected to boost the growth of vinyl records market at a significant rate in this segment.

North America Vinyl Record Market:
The North America vinyl record market is expected to increase over the forecast period due to the several market players or manufacturers present in this region. In addition, huge number gramophone users and increasing number of vinyl records collectors are present in this region and, growing adoption of retro style trends among millennials and gen x in this region is expected to increase the demand for vinyl records in this region over the forecasted period. Furthermore, North America region is expected to offer various opportunities to the key players and accelerate the release of latest vinyl album and increasing demand for vinyl records are expected to boost the vinyl records market growth in this region.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global Vinyl Record market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In February 2023, Saregama launched LP vinyl record collection of legendary artists.

The Vinyl Record market is segmented based on product type, features, application, distribution channel, and geography.Based on the product type, the market is segmented into the following:
• Single Vinyl Records
• LP/EP Vinyl Records

Based on the features, the market is segmented into the following:
• Colored
• Picture
• Gatefold

Based on the application, the market is segmented into the following:
• Commercial
• Private

Based on the distribution channel, the market is segmented into the following:
• Offline Stores
• Online Stores
• Supermarkets & Hypermarkets
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players profiles in the Vinyl Record market report are GZ Media, Implant Media Pty Ltd., Independent Record Pressing, MPO International, Optimal Media, PrimeDisc International Limited, Quality Record Pressings, R.A.N.D. muzik Record Manufacturing, Record Industry, Pallas Group, Stereodisk LLC, United Record Pressing.

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This release was published on openPR.