NAMM members can now download the 2019 NAMM Global Report, a detailed resource to find the latest industry trends and opportunities. In the report, there is a comprehensive list of sales figures, unit sales information, analysis and import/export numbers for music instrument products. This year's statistics consists of data from more than 28 countries and regions, which is the largest report NAMM has created to date. NAMM provides this information to members in hopes to help their businesses stay up to date with the industry and help make better business decisions for the future.
As the report is for NAMM members only, or those who pay a fee, CMT cannot share the entire report. However, we have been given permission to share some of its Canada-specific data.
It’s no surprise that the U.S. is the largest market for music products by a large margin. In terms of market sales shares, the U.S. leads with 44.3 per cent, and Canada ranks fifth with 4.5 per cent. Filling out the top five are China at 10.7 per cent, Japan at 6.1 per cent, and Germany at 6 per cent. The top-five ranking remain unchanged from last year.
The NAMM report indicates that Canada’s imports of musical instruments increased one per cent in 2018. On NAMM’s list of the top sources of MI important into the United States, Canada ranks 10th, with China being the largest source of music product imports into the U.S. by a large margin. However, is the second largest export market for MI products coming out of the U.S. China takes in 38 per cent of the United States’ MI exports, while Canada takes in 26 per cent, followed by Mexico at 16 per cent.
NAMM members interested in viewing the report can go to www.namm.org/membership/global-report to download it.