Art Supply Stores - Industry Market Research Report

Art Supply Stores - Industry Market Research Report

  • March 2019 •
  • 28 pages •
  • Report ID: 5398370 •
  • Format: PDF
Art of war: Industry performance has been mitigated by increased online competition

Abstract

Art Supply Stores
Establishments in the Art Supply Stores industry sell a diverse range of art products, such as art mediums, canvases and surfaces, art tools and accessories and sculpting and modeling supplies. Due to its fragmented nature, the industry is not necessarily driven by product-specific trends, but rather by broad macroeconomic variables. Over the five years to 2019, rising per capita disposable income has boosted demand throughout the entire retail industry. However, art supply stores are experiencing increasing competition from big-box retailers and online competitors, limiting gains from increased spending. Over the five years to 2024, the industry is forecast to continue to decline. Increases in consumer spending and time spent on leisure and sports will be mitigated by a decrease in consumer confidence and intense external competition. Furthermore, underperforming companies are expected to continue to exit the industry and consolidation of existing companies will increase.

The industry comprises specialty stores that sell art supplies, specifically for professional artists, art students and art hobbyists.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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