The global newspaper advertising market size is expected to reach USD 19.3 billion by 2028, according to a new report by Million Insights. The market is expected to expand at a CAGR of -3.6% from 2021 to 2028. The growing rapid digitalization in emerging economies has experienced significant shrinkage in recent years and is likely to decline over the forecast period. The increasing acceptance of print advertising among the various industries in recent years to offer information about their company and products is expected to accelerate the market growth. Moreover, the rising effectiveness of newspaper advertising in developing countries due to the huge number of subscribers around the globe is driving the market.
Moreover, newspaper advertising is rapidly gaining popularity owing to having more engagement of customers and building brand awareness which in turn is accelerating the market growth. Furthermore, a lockdown situation has been observed during the COVID 19 pandemic, and it showed a negative impact on the market due to many advertisers slashed marketing budgets or paused advertising spending during this period. Moreover, the increasing spending on print advertising after the ease of several restrictions is expected to boost market growth over the forecast period.
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The weekly newspaper segment is expected to register the highest CAGR of -2.8% from 2021 to 2028. The rising investment in digital newspaper advertising by the various advertisers due to the high engagement of customers in the online platforms may hinder the growth of this segment. Furthermore, the increasing adoption of newspaper advertising for brand awareness and promotion of the various products through the newspapers has significantly accelerated the growth of this segment.
The FMCG segment is expected to witness a higher CAGR of -2.2% over the forecast period. The rising acceptance of smartphones and growing internet penetration rate across the globe is propelling market growth. This, in turn, is restraining the growth of the market over the forecast period. Moreover, the increasing spending on print advertising by various FMCG companies in recent years to bring awareness about the product and to build trust and credibility with customers globally are expected to boost market growth over the forecast period.
Asia Pacific dominated the market with a revenue share of more than 35.0% in 2020. The intense competition among the vendors of the print newspaper industry is hindering market growth. However, strict government regulation regarding print advertising is restraining market growth over the last few years. The growing technological advancement in augmented printing and paper manufacturing is expected to accelerate the market growth. Moreover, the growing number of subscribers of print newspapers across the region has projected market growth over the forecast period.
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