JAPAN ART MARKET REPORT
Japan’s Art Market as seen in Data: From the 2018 Market Survey of the Japanese Art Industry
Size of the market for Japan's art industry
1- Market for Works of Art
Purchases of the following kinds of works of art via the following kinds of sales channels by residents of Japan:
· Galleries, department stores, art fairs, art auctions, museum shops, websites, publications, directly from artists.
· Works of art (nihonga, sculptures, prints, contemporary art, photography, video/film, ceramics, crafts, calligraphy, hanging scrolls, folding screens).
2- Market for Art-related Products
Purchases of the following kinds of art-related products by residents of Japan:
· Posters and postcards of famous paintings
· Exhibition catalogues
· Merchandise based on famous paintings, sculptures, etc.
3- Market for Art-related Services
· Admission fees for visits to art museums by residents in Japan
· Consumption related to visits to major art projects
GLOBAL ART MARKET FROM 2007 TO 2017
Japan’s Market for Art in 2018 Grows for the 3rd Year in a Row
The Art Tokyo Association estimates the fine art market in Japan to be worth 246 billion yen, based on the results of the “2018 Market Survey of the Japanese Art Industry”.
This marks a consecutive three-year increase over the 243.1 billion yen figure in 2016 and the 243.7 billion yen figure in 2017.
Simultaneously, according to the “The Art Market 2018”, a report published in March 2018 by the world’s largest art fair, “Art Basel” and the UBS Group, the largest bank in Switzerland, the global fine art market decreased two years in a row after reaching a historical high in 2014 of 68.2 billion dollars, to56.9 billion dollars in 2016. It regained 12% in 2017, climbing to 63.7 billion dollars.
In “Global Wealth Report 2018”, which ranks the world’s wealthiest with assets of more than one million dollars (source: Credit Suisse), Japan is third following the U.S. at number one and China at number two.
Even as the global art market continues to fluctuate, Japan’s art market has remained stable over the past three years.
The size of the art market in Japan is 54.8 B yen for Western-style paintings, 43.6 B yen for Nihonga (Japanese-style paintings), 29.4 B yen for Prints and 31.9 B yen for Contemporary Art.