The purpose of the article is to determine the place of Ukrainian art during the active transformations of the world art space. The scientific novelty lies in the study of the world's leading art fairs and the participation of Ukrainian artists in these platforms of the art market, as well as the analysis of modern leading Ukrainian art fairs and festivals. Methodology. The main methodological approach in determining the place of Ukrainian art during the active transformations of the world art space is the structural-system approach, and when analyzing the activities of leading Ukrainian art fairs in the context of world art development - the contextual method. The applied methods allowed to determine the main vectors of development of the private art segment of Ukrainian art of the 1990s - 2020s. Conclusions. In recent years, a new global art space has been formed and developed in the art world. Traditionally, the Western world dictates the rules of world art, but the exotic nature of everything that comes from the North and Eastis of interest to art lovers and professionals. Renewal of the cultural and artistic process in Ukraine at the beginning of the XXI century. and powerful social changes became the basis for many art festivals and art fairs of both regional and national scale. Initiatives of independent curators and gallerists' search for new formats for demonstrating the artistic achievements of Ukrainian artists have inspired the emergence of a number of interdisciplinary cultural projects of national importance. These artistic events set the vector for the development of communication in the modern cultural sphere. In general, Ukrainian art is developing several parallel coordinate systems that operate on different principles and offer different agendas. Among the latest trends that determine its development - digitalization, virtualization, commercialization, blurring the boundaries between elite and mass art, loss of integrity, polystylistic aspect, exemption from any rules of regulation. Like world cultural projects, Ukrainian festivals and art fairs are a type of artistic form of actualization of contemporary art and its interaction with society. For example, Kyiv Art Week is a landmark event in the cultural space of Ukraine, which brings together influential artists, collectors, and representatives of many worlds and Ukrainian cultural institutions.