Summary

The guitar has been a popular instrument in South Korea for several decades, with many young people taking up the instrument as a hobby or profession. In recent years, the popularity of K-pop has further increased the interest in playing the guitar, as many K-pop songs feature guitar parts. South Korea is a traditional Korean music was based on the Wind, Percussion, and Stringed Instruments such as the Gayageum and the Geomungo. In early years people are not used the instrument like the guitar but now a days the people have crazed to use the guitar and learn the guitar.

According to the research report "The South Korea Guitar Market Overview, 2028," published by Bonafide Research, The Guitar market is projected to reach market size of above USD 130 Million by 2028. In South Korea K-pop has become a phenomenon, and many K-pop songs feature guitar parts. This has led to an increase in demand for guitars, as young people in South Korea are inspired to learn the instrument to emulate their favorite K-pop stars. South Korea has experienced strong economic growth over the past few decades, resulting in an increase in disposable income. This has enabled more people to afford instruments like guitars, which were once considered a luxury item. One interesting trend in the South Korean guitar market is the growing popularity of custom-made guitars. Many musicians in South Korea are now choosing to have their guitars custom-made to suit their specific needs and preferences. This has led to the growth of several domestic guitar makers who offer custom-made guitars at competitive prices.
In South Korea People used the Acoustic Guitar that are often preferred by those who play folk, country, or singer-songwriter styles of music. They have a warm and natural sound and are often used for solo performances and small ensembles. Acoustic guitars are also portable and do not require an amplifier, making them a good choice for musicians who travel or perform in smaller venues

Based on the report the Market is segmented in two types that is the Acoustic Guitar and Electric guitar, the acoustic guitar is the only guitar that relies solely on the natural vibration of its wooden body to produce sound. The strings of an acoustic guitar are made of steel or nylon and are strung over the sound hole, which acts as a resonator, amplifying the sound. Acoustic guitars are often used in genres like folk, country, and singer-songwriter music. Electric guitars have a solid body and thinner strings, which are often made of steel, and require an external amplifier or speaker to be heard at higher volumes. Electric guitars are commonly used in rock, blues, and jazz music.

There are several challenges for the Guitar in South Korea is the Competition From the several Instruments, while the guitar is popular in South Korea; it faces competition from other instruments such as the piano and violin, which are also highly regarded in the country. The domestic market for guitars in South Korea is relatively small, which means that guitar manufacturers and retailers must look to international markets to achieve significant growth. As well as the opportunities are there for the Guitar that are there is a growing Interest in Music Education in South Korea, which presents an opportunity for guitar manufacturers and retailers to market their products to schools and other educational institutions. Also the South Korea has a strong export-oriented economy, which means that guitar manufacturers and retailers can tap into international markets to achieve growth and expand their customer base.
In South Korea there are certain schools are there for the Music, Many parents encourage their children to learn to play an instrument, including the guitar.so, the schools are the Korean National Art University, in South Korea that offers a comprehensive music program, including a guitar program. The guitar program is led by renowned guitarists and includes both classical and contemporary guitar studies. Seoul National University College of Music, Yonsei University, Busan National University of education, Hanyang University college of Music.The based on the report the distribution channel is Online and Offline, in south Korea there are several specialist stores for the guitar are the Guitarmuse, Nakwon Musical Instrument, Mongkita, Guitar Mania, Guitarsmith, Guitar Stop, Music Shop.

Considered in this report

• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• South Korea Guitar market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type:

• Acoustic Guitar
• Electric Guitar

By Distribution Chanel:

• Offline
• Online

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, government-generated reports, and databases. After gathering the data from secondary sources, primary research was conducted by making telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started doing primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations and organizations related to the guitar industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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Table of Contents

Table of Contents
1. Executive Summary
2. Market Structure
2.1. Market Considerate
2.2. Assumptions
2.3. Limitations
2.4. Abbreviations
2.5. Sources
2.6. Definitions
2.7. Geography
3. Research Methodology
3.1. Secondary Research
3.2. Primary Data Collection
3.3. Market Formation & Validation
3.4. Report Writing, Quality Check & Delivery
4. South Korea Macro Economic Indicators
5. Market Dynamics
5.1. Key Findings
5.2. Key Developments - 2021
5.3. Market Drivers & Opportunities
5.4. Market Restraints & Challenges
5.5. Market Trends
5.6. Covid-19 Effect
5.7. Supply chain Analysis
5.8. Policy & Regulatory Framework
5.9. Industry Experts Views
6. South Korea Guitar Market Overview
6.1. Market Size By Value
6.2. Market Size and Forecast By Product Type
6.3. Market Size and Forecast By Distribution Channel
7. South Korea Guitar Market Segmentations
7.1. South Korea Guitar Market, By Product Type
7.1.1. South Korea Guitar Market Size, By Acoustic, 2017-2028
7.1.2. South Korea Guitar Market Size, By Electric, 2017-2028
7.2. South Korea Guitar Market, By Distribution Channel
7.2.1. South Korea Guitar Market Size, By Offline, 2017-2028
7.2.2. South Korea Guitar Market Size, By Online, 2017-2028
8. South Korea Guitar Market Opportunity Assessment
8.1. By Product Type, 2023 to 2028
8.2. By Distribution Channel, 2023 to 2028
9. Competitive Landscape
9.1. Porter's Five Forces
9.2. Company Profile
9.2.1. Company 1
9.2.2. Company 2
9.2.3. Company 3
9.2.4. Company 4
9.2.5. Company 5
9.2.6. Company 6
9.2.7. Company 7
9.2.8. Company 8
10. Strategic Recommendations
11. Disclaimer

List of Figures
Figure 1: South Korea Guitar Market Size By Value (2017, 2022 & 2028F) (in USD Billion)
Figure 2: Market Attractiveness Index, By Product Type
Figure 3: Market Attractiveness Index, By Distribution Channel
Figure 4: Porter's Five Forces of South Korea Guitar Market

List of Table
Table 1 : Influencing Factors for Global Guitar Market, 2022
Table 2: South Korea Guitar Market Size and Forecast By Product Type (2017, 2022 & 2028F)
Table 3: South Korea Guitar Market Size and Forecast By Distribution Channel (2017, 2022 & 2028F)
Table 4: South Korea Guitar Market Size of Acoustic (2017 to 2028) in USD Billion
Table 5: South Korea Guitar Market Size of Electric (2017 to 2028) in USD Billion
Table 6: South Korea Guitar Market Size of Offline (2017 to 2028) in USD Billion
Table 7: South Korea Guitar Market Size of Online (2017 to 2028) in USD Billion