Asia-Pacific Arts Promoters Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 7.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Arts Promoters Market Analysis
The Asia-Pacific Arts Promoters Market is valued at about 13.92 billion USD in the current year and is expected to register a CAGR of more than 7% during the forecast period.
In the Asia-Pacific region, arts promoters are the largest segment within the arts market, which has a market share of about 50 %, including independent artists and performing art companies and approximately a 35% market share of museums. Technological innovations have made it easier for artists to share their work with global audiences. Many digital artists use cutting-edge technology to create unforgettable installations and art.
Social media platforms encourage independent artists to share their work across the globe and have opened up new opportunities for artists. For example, some of the most popular social media platforms used by music artists are iTunes, Spotify, Pandora, and YouTube.
E-commerce and online marketing have become the most significant business operations within many industries, particularly in the creative industries. Witnessing artworks in online galleries is very similar to going to a gallery. The traditional methods of selling art have gradually changed to digital. It is not restricted to traditional marketing methods like auctions and exhibitions but also utilizes E-marketing methods like Instagram, art websites, and other online platforms for promotion.
During the COVID-19 period, the Art Market in Asia-Pacific went through certain challenges which include factors of COVID-19 restrictions like lockdowns, scoial distance and etc. After COVID-19 the Art Market in Asia-Pacific recoverd with a positive growth. The governments in the Asia-Pacific region are making every effort to develop the sector and make the most of its potential.
Asia-Pacific Arts Promoters Market Trends
The Rise of Art Fairs and Exhibitions in Asia-Pacific Region
As Asia's population continues to grow, Asian art collectors are increasingly interested in art from the rest of Asia. With an increasing number of collectors from China and Indonesia, as well as from India, Asia's high-end galleries and modern art fairs have started to show interest in Asia. Although art sales in China dropped to second place behind the United States in the previous year, Chinese collectors are showcasing their interest in art as sales to Chinese buyers are particularly strong in the first six months of the current year.
In January 2023, the inaugural edition of ART SG featured around 164 world's leading galleries and also welcomed 43,000 guests from Singapore and Southeast Asia, as well as from all over the Asia Pacific region.
Art Assembley, a company that organizes art fairs in the Asia-Pacific region, announced the launch of a new international fair in Japan called Tokyo Gendai with 80 to 100 international art galleries.
The governments in the Asia-Pacific region are making every effort to develop the sector and make the most of its potential.
NFTs / Digital Collectibles are the most popular in the Chinese market
As the popularity of NFTs in China continues to grow, several of the biggest internet companies have established their trading platforms for NFTs. These platforms serve as either an exchange or a marketplace for Chinese consumers to buy and sell various digital assets. More and more investors are interested in getting involved in the China NFT market.
Some of the reasons why NFTs have gained popularity among consumers include the fact that consumers in China are tech-savvy and the country's high penetration rate of smartphones and the Internet. The ban on cryptocurrencies by the Chinese government also contributed to the growth of NFTs in the past year.
According to a Wangyi report, in less than one year, the platform has gained over 800k registered users, 80k artists, and 400k NFT digital works.
Asia-Pacific Arts Promoters Industry Overview
The Asia-Pacific Arts Promoters Market is fragmented. This is due to the fact that the region is very diverse in terms of countries, cultures, and languages. The market aims to promote creativity, foster engagement with modern art, and foster cross-border dialogue. The report covers major international players operating in the Asia-Pacific Arts Promoters Market. The major players are Digital Arts, Hong Kong Art Basel, Tokyo Art Fair, Jakarta Contemporary Art and Design Fair, and Singapore Art Museum.
Asia-Pacific Arts Promoters Market Leaders
-
Digital Arts
-
Hong Kong Art Basel
-
Tokyo Art Fair
-
Jakarta Contemporary Art and Design Fair
-
Singapore Art Museum
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Arts Promoters Market News
- January 2023: Art SG, Southeast Asia's largest ever art fair, the most sizeable art fair launched in the Asia-Pacific region, and among the most important art fair debuts anywhere on the globe ever. Singapore with Art SG has attracted blue-chip art galleries from around the world as well as strong local and regional players.
- June 2022: The Art Assembly launched the new international art fair in Tokyo Gendai. Tokyo Gendai is an exciting platform for commercial, artistic, and intellectual exchange and a nexus of cross-cultural discovery. As one of the world's cultural capitals, Tokyo boasts a dynamic and rich art scene which provides a strong draw for international visitors.
Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions & Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Market Drivers
- 4.1.1 Increase in consumer spending on buying Asian artworks
- 4.1.2 The rise in virtual art gallery market
-
4.2 Market Restraints
- 4.2.1 The rising prices of the artwork
-
4.3 Market Opportunities
- 4.3.1 The rise in digital media
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Buyers/Consumers
- 4.4.2 Bargaining Power of Suppliers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
- 4.5 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
-
5.1 By Type
- 5.1.1 Fine Arts
- 5.1.2 Antiques
- 5.1.3 Collectables
- 5.1.4 Abstract Art
- 5.1.5 Digital Arts
- 5.1.6 Other Types
-
5.2 By Revenue Source
- 5.2.1 Media Rights
- 5.2.2 Merchandising
- 5.2.3 Tickets
- 5.2.4 Sponsorship
-
5.3 By End-Users
- 5.3.1 Indiviuals
- 5.3.2 Companies
-
5.4 By Channel
- 5.4.1 Online
- 5.4.2 Offline
-
5.5 By Countries
- 5.5.1 India
- 5.5.2 China
- 5.5.3 Japan
- 5.5.4 Rest of Asia Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Overview
-
6.2 Company Profiles
- 6.2.1 Art Central
- 6.2.2 Hong Kong Art Basel
- 6.2.3 Art SG
- 6.2.4 Tokyo Art Fair
- 6.2.5 The Art Assembly
- 6.2.6 Singapore Art Museum
- 6.2.7 National Museum of Modern and Contemporary Art, Korea
- 6.2.8 Sydney Contemporary
- 6.2.9 Digital Arts
- 6.2.10 The State Hermitage Museum*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER
** Subject To AvailablityAsia-Pacific Arts Promoters Industry Segmentation
Art sponsoring is the practice of companies providing financial or material means or services to support individuals or institutions in the art field with their fields of painting, sculpture, graphic arts, photography, architecture, and visual arts for the purpose of achieving corporate goals. The Asia-Pacific Arts Promoters Market is segmented by Type (Fine Arts, Antiques, Collectables, Abstract Art, Digital Art, and Others), by Revenue Source (Media Rights, Merchandising, Tickets, Sponsoring), by End Users (Individuals, Companies), by Channel (Online, Offline) and by Countries (India, China, Japan and Rest of Asia Pacific). The report offers Market size and forecasts for the Asia-Pacific Arts Promoter Market in value (USD) for all the above segments.
| By Type | Fine Arts |
| Antiques | |
| Collectables | |
| Abstract Art | |
| Digital Arts | |
| Other Types | |
| By Revenue Source | Media Rights |
| Merchandising | |
| Tickets | |
| Sponsorship | |
| By End-Users | Indiviuals |
| Companies | |
| By Channel | Online |
| Offline | |
| By Countries | India |
| China | |
| Japan | |
| Rest of Asia Pacific |
Frequently Asked Questions
What is the current Asia-Pacific Arts Promoters Market size?
The Asia-Pacific Arts Promoters Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Arts Promoters Market?
Digital Arts, Hong Kong Art Basel, Tokyo Art Fair, Jakarta Contemporary Art and Design Fair and Singapore Art Museum are the major companies operating in the Asia-Pacific Arts Promoters Market.
What years does this Asia-Pacific Arts Promoters Market cover?
The report covers the Asia-Pacific Arts Promoters Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Arts Promoters Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Arts Promoters Industry Report
Statistics for the 2024 Asia-Pacific Arts Promoters market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Arts Promoters analysis includes a market forecast outlook to for 2024 to (2024to2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
