Market Trends

Surge in Collectibles Market Forecasted to Reach $594.2 Billion by 2034

PUNE, India, March 11, 2024 /PRNewswire/ -- The collectibles industry is on the cusp of a phenomenal expansion with the recently updated "Collectibles Market Report, 2024–2034" published by Market Decipher. The newest edition of the report introduces 50 additional product categories, expanding coverage to over 100 diverse categories and subcategories of collectibles. The report is revered as the most comprehensive analysis so far in the collectibles domain. The Market Decipher research team, which is specifically focused on investigating the rare, luxury, and memorabilia segments, conducted extensive interviews with C-suite executives from over 80 leading collectibles firms in the first quarter of 2024 (January – February & ongoing). This has led to significant revisions and major updates across all product segments, including a cross-sectional analysis of the demand pattern across various countries.

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The collectibles industry is anticipated to soar to a staggering value of $594.2 billion by the year 2034. Notable trends contributing to this growth include the increasing popularity of grading and authentication services and new collaborations between collectible vendors and authenticating parties. The auction house market has witnessed exponential growth, with a particular incline in new sales channels. The burgeoning trade and resale of collectibles and trading cards have also given rise to a vast and lucrative secondary market within the United States.

Rajesh Ranjan, the head of Collectibles Research at Market Decipher, underlines the trends in the market, stating, "The business landscape for auction houses is burgeoning, and the connectivity between collectors and authentication services is stronger than ever."

Expansive Product Research

A comprehensive list of products has been meticulously researched and detailed in the scope of the report. Here are some of the varied categories included:

• Sports Memorabilia
• Trading Cards
• Artifacts
• Modern Art
• Music Collectibles
• Stamps
• Coins/Currency
• Anime
• Vintage Car
• Watches
• Toys
• Toy Cars
• NFTs
• Black Memorabilia
• Action Figurines
• Auction Collectibles
• Militaria
• Porcelain/Glass
• Dining Collectibles
• Trading/Resale
• Maps
• Music Speakers
• Decor Items
• Sports Jerseys
• Autographs
• Victorian Era Collectibles
• Film Props
• NFL Collectibles
• Comics
• Dolls
• Horse Riding Gear
• Golf Accessories
• Vintage Cameras
• Ethnic Collectibles
• Vintage Fashion
• Limited Sneakers
• Collectible Coins
• Disney Themes
• Video Game Toys

A Quantum Leap for Action Figurines

In recent happenings, the collaboration between Moose Toys and YouTube personality MrBeast has paved the way for a new chapter in action figure collectibles. This partnership marries the innovative prowess of Moose Toys in the toy industry with MrBeast's influential online presence, yielding an exciting new product line intended for release in Fall '24. The collaboration is poised to captivate a broad audience, ranging from young aficionados to adult collectors, often referred to as "kidults."

Revolutionizing the Trading Card Space

The trading card segment has witnessed a radical evolution with Fanatics's takeover of Major League Baseball Topps in July 2023, and the integration of Major League Baseball (MLB) Debut Patches. Concurrently, the emerging NFT platforms, such as Candy Digital, have reshaped how trading cards are collected and valued.

The Ascendancy of Vintage Cars in Collecting

Over the last decade, vintage cars have significantly grown in value, overshadowing traditional luxury investments like wine, art, and watches, according to Knight Frank's 2023 wealth report. The report shows an impressive 185% increase in value for vintage cars, placing them second only to the exceedingly lucrative rare whisky category. High-profile transactions, including a 1962 Ferrari 250 GTO selling for $48 million and a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé fetching an overwhelming $149 million, highlight the skyrocketing investment interest in classic automobiles. These figures have spurred the creation of specialized vintage car investment funds; for instance, Azimut of Italy recently launched the first-ever "evergreen" fund aimed at vehicles valued above 1 million euros.

The Luxurious Evolution of Watch Collectibles

The luxury watch market is thriving, buoyed by the digital infrastructure of platforms like Watches.io that have streamlined the processes of tracking and trading luxury timepieces. As a result, the niche hobby of watch collecting has broadened its appeal, attracting a more diverse audience. The luxury watch market, now valued at a record $75 billion globally, sees second-hand sales constituting a significant 30% share, indicating a drastic change in consumer habits, particularly among the millennial and Gen Z demographics. These individuals increasingly perceive luxury watches as not simply fashion accessories, but also as solid, appreciating assets.

Sports Jerseys: From The Court to Collectible Fame

Collaborations, like the one between the NBA and Sotheby's in October 2023, have expanded the market for game-worn jerseys, granting fans access to tangible pieces of sports legend. Auction sales have seen remarkable numbers. Michael Jordan's Nike Air Jordan XIII sneakers recorded a sale of US$2.2 million, and his jersey commanded a US$10.1 million price tag, revealing the profound passion and value fans ascribe to memorabilia connected to their sport idols.

Advancements in Toy Collecting

The toy collectibles market is witnessing tremendous innovation and growth with companies like Mokeng (MOK) leading the way. The allure of upscale toys and collectible statues is now an international phenomenon, attracting a diverse audience base. Strategic partnerships between industry titans like MOK, entertainment studios like Stars Collective, and investment firms such as Hana Investment, which came together in February 2024, have pioneered new formats of entertainment and product development, enhancing creative possibilities within the sphere and increasing public participation.

"We offer detailed transaction data for each category of autographed collectibles we assess," stated Rajesh Ranjan, emphasizing the depth of the research available.

At-a-Glance Market Data

The report provides a snapshot of selected product segments and their projected market data:

• Sports Memorabilia: Forecasted to reach a revenue of $61.62 Billion by 2034 with a Compound Annual Growth Rate (CAGR) of 15.6%.
• Toy Collectible: Expected to garner $10.84 Billion with a CAGR of 5.2%.
• Action Figurines: Anticipated to hit $18.62 Billion, growing at 4.2% annually.
• Trading Cards: Estimated to see a revenue of $48.21 Billion with an 11.0% CAGR.
• Sneaker Resale: Predicted to surge to $52.64 Billion at a CAGR of 16.4%.

Niches Forecasted for Growth

Several niche markets within the collectibles industry are identified for potential expansion. These include:

• Toy Car Market
• Luxury Watch Market
• Jewellery Collectibles Market
• Hollowware and Flatware Collectibles Market
• Europe Collectibles Market
• Collectibles Trading Resale Market
• US Trading Cards Market

Should there be a need for a custom report tailored to a specific product category or a particular country/region, Market Decipher welcomes inquiries through their "Sample Request" form, and responses will be promptly directed to the requester's email.

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Market Decipher, a branch of Decipher Market Insights, specializes in offering market research and consultancy services to a spectrum of businesses, irrespective of size. The focus at Market Decipher is to deliver actionable insights and strategize business policies that are attuned to the specific niche and market to foster sustainable growth. Both syndicated and custom research services are provided to meet the diverse needs of clients.

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Conclusion

In the swiftly evolving world of collectibles, the Market Decipher report stands as a vital resource for investors and enthusiasts alike. It sheds light on the dynamic trends, innovations, and market forces that shape the future of collecting. Whether it's treasured sports memorabilia, artistic masterpieces, or timeless vintage cars, the collectibles market is brimming with opportunities and poised for unprecedented growth.

The report serves as a testament to the transformative power of collecting, not only as a hobby but as an investment strategy that bridges the past, present, and future. As the market landscape continues to shift and expand, the collectables of today may very well become the historical treasures of tomorrow.