Fueled by surges in demand and interest, the collectibles market is valued at an estimated $622 billion in 2024, according to new research released Tuesday.
Analysis from Market Decipher’s Collectibles Market Report shows the market has experienced “robust growth” in recent years, largely driven by online sales and an increase in e-commerce platforms.
According to the report, the global collectibles market was worth an estimated $458 billion in 2022 and could grow to more than $1 trillion by 2033.
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"Luxury products market is slowly blending with the collectibles industry, with luxury product customers opting for aesthetic value along with premium brand value,” Market Decipher collectibles research analyst Gauri Garale said in a statement. “High-quality, newly manufactured products with no historical connection or memorabilia value are also entering as collectibles, especially in the figurines market.
"Technological advancements in authentication methods are improving the verification of collectibles, ensuring their authenticity. AI and machine learning technologies are increasingly being implemented in this category to detect forgery and also to keep the authenticity of high-value items."
Upper Deck’s deal with DC for trading cards, Fanatics taking over the production of NHL jerseys, and CCG’s deal with JSA for autograph authentication were listed among the major developments in 2024 that could impact the market.
Market Decipher also cites an increase in interest for collectibles as an investment as a driver of growth in recent years, with some advisors and experts recommending dedicating between 5 percent and 10 percent of a portfolio to the category.
Despite recent struggles for companies such as NBA Top Shot, the market report expects NFTs to rise in value with a variety of start-ups entering the space through categories like sports, music, movies and more.
Valued at $26 billion in 2021, the global sports memorabilia market, largely driven by trading cards, could reach $227 billion by 2032. According to the report, 98 percent of collectors own trading cards, and the category specifically could see massive growth behind increased interest in Asia and the Middle East.
Ben Burrows is a reporter and editor for cllct.