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Their data mentions the demographics of people who play guitar, not just those who buy them. (In 2022) 18-34 are about 40% of guitar players with the largest share. Boomers also still play but don't exert market influence.
That actually sounds like Gen X are the smaller guitar playing demographic, maybe? Could just be too busy with careers.
Speaking as a Gen X with a guitar... it was all about synthpop, rave and industrial. Who needed guitars in the 80s/90s anyway?
/s