Books Industry Overview
The global books market size is expected to reach USD 164.22 billion by 2030, expanding at a CAGR of 1.9% during the forecast period, according to a new report by Grand View Research, Inc. Increasing consumer expenditure on books, fueled by rising incomes and interest, as well as ongoing format improvements that have improved the entire reading experience, are among the primary reasons driving the book business forward. Independent publishers have been on a rise in the recent past. According to Linchpin SEO, there were approximately 69,709 independent publishers in the book industry as of 2020. In response to the apparent monopoly in traditional publishing, excluded individuals have turned to independent publishers not associated with large publishing houses.
While traditional publishing companies seek to corner the market, independent publishers provide an opportunity for diversity and inclusion among authors and niches. These publishers are smaller and, in some cases, completely digital and that is the key behind their numbers increasing year on year. Along with this, most large publishers are privately owned. So, it is difficult to assess the number of books being sold globally and the revenue that is generated from it.
Books Market Segmentation
Grand View Research has segmented the global books market based on type, format, distribution channel, and region:
Based on the Type Insights, the market is segmented into Science, Historical, Mystery, Fantasy, Literary, Contemporary/Realistic, Romance, Educational, Comic, and Others
- Science segment is anticipated to expand at a CAGR of 1.8% from 2022 to 2030. Science books are usually a work of non-fiction and could be related to a science or non-science-based person.
- Female scientists and science writers such as Rachel Carson and Jane Goodall have also had a significant impact on their respective fields and through their writing.
- The Mystery segment led the market and accounted for a 16.6% share of the global revenue in 2021. Readers often respond to books because they can relate to one of the characters.
Based on the Format Insights, the market is segmented into Facial Hard Copy, E-Books, and Audiobooks
- Hard copy segment accounted for the largest market revenue share of around 78.7% in 2021. Despite an onslaught of new technology, books have proved to be extremely resilient.
- The audiobook segment is anticipated to register faster growth during forecast years with a CAGR of 3.1% from 2022 to 2030.
- Audiobooks are immersive, educational, instructional, and entertaining and they are perfect for the time-rich and the time-poor.
- Audiobooks can also change the way people listen, read, and learn, improving the literacy of young readers and those for whom English is a second language.
Based on the Distribution Channel Insights, the market is segmented into Online, Local Book Shops, Retail Shops, Specialty Stores
- Local book shops were the largest distribution channel with a market revenue share of around 50.3% in 2021.
- A local bookstore offers a home to both authors and readers and is a welcoming place to come together to feel comfortable and at ease.
- The online channel is anticipated to register faster growth during forecast years with a CAGR of 2.9% from 2022 to 2030.
Books Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The books market includes both international and domestic participants. Key market players focus on strategies such as innovation and new product launches in retail about products to enhance their portfolio offering in the market.
Some prominent players in the global Books market include:
- Penguin Random House
- Hachette Book Group
- HarperCollins Publishers
- Simon & Schuster, Inc.
- Pearson
- Macmillan Publishers
- Scholastic Inc.
- Marvel Comics
- Morris Publishing
- IDW Publishing
Order a free sample PDF of the Books Market Intelligence Study, published by Grand View Research.
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