The Japanese Art Industry Market Research Report

The Japanese Art Industry Market Research Survey

With the aim of revitalizing the art market in Japan, we are conducting research and analysis on the size of the art industry market in Japan, as well as surveys on the attitudes of art buyers.

The results of the survey, which has been conducted continuously since 2016, will be visualized in easy-to-understand reports and charts, and the results will be widely disseminated in Japan and abroad. The report, which is based on a wealth of data, will serve as an indicator that links the industry with people involved in culture and the arts, and can be effectively used by companies and organizations engaged in art-related businesses to formulate business plans and marketing strategies.
In addition, the survey and analysis of price trends in the art market, which was added in fiscal 2020, will analyze and evaluate the asset value of artworks, which have recently been attracting attention, and contribute to the continued growth of the art market in the future. In addition, the "Market Research on Japan's Art Industry" will be used as basic information to create a virtuous cycle between culture and economy, and to promote the continuous growth of the art market where up-and-coming artists who will create the next generation of culture can be active.

This year's report

Japanese Art Industry Market Research Survey 2022

Japan’s art market is said to be still small relative to the size of its economy, and in 2021 Japan will be included in the “other” category (8%) of the global art market, a large gap compared to the U.S. (43%), China (20%), and the U.K. (17%). We considered that “information asymmetry” in the art market creates uncertainty in the price formation process (pricing), which hinders the growth of the art market. To solve this problem, we need an index that allows everyone to intuitively understand the criteria for buying and selling art. We propose the “Art Index” as one such index.
This paper describes the content and creation process of the art index developed by QUICK Corporation, and discusses examples of art indexes in overseas art markets. Furthermore, we proposed an art fund as one of the ways to purchase art using the art index in the Japanese art market.

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Last year's report

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.

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