Japanese Art Industry Market Research Survey 2021
The size of the overall Japanese art market is estimated at 218.6 billion yen. Compared to 2020, when the impact of Corona was most significant, the art market recovered in 2021, but decreased (by 15%) compared to 2019. However, estimating the percentage of the global art market, Japan (market size of domestic operators, 192.9 billion yen) is estimated to be 3.7% of the global market in 2020 (5.2 trillion yen), up from 3.2% in 2019, partly due to currency fluctuations. We also examined the relationship between art appreciation and purchases, and the contribution of exhibitions to market growth. In addition to surveying trends through questionnaires, this study also examined the asset nature of art works by researching and analyzing past art price trends. We also analyzed data from domestic art auctions and concluded that some works of art depreciate over time (called "arts and crafts"), while others have a certain amount of original asset value and can be considered assets.