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I'm not sure it's that simple - maybe they are playing their Gen X parents' guitars?
It does seem unlikely that, regardless of interest in playing the instrument, sales would’ve done anything but slumped in recent decades. Can’t really envision buying brand new guitars being a high priority for young people who are seemingly worse and worse off over time
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