Books Market: Global Industry Analysis and Forecast (2024-2030) Trends, Statistics, Dynamics, Segmentation by Product, Distribution Channel, Format and Region

Books Market Definition:

Consumer books have been called 'analog' in the digital age, but books are ubiquitous, inexpensive, and continue to feed the entertainment and information needs of people around the world centuries after the printing press was invented. It is safe to say the market isn’t thought of very much by most adults: they think about books one at a time or not at all. Even though a print book today looks very much like one that had been purchased decades earlier, a perfect storm of changes has been affecting the books market and every player in it.

 

 

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Books Market Dynamics:

Industry innovation with the advent of audio and video-based eBooks has attracted consumers in all regions. Easy access to paperback copies by people with disabilities and non-English speaking groups is one of the key factors driving the books market growth.  The publishing industry is constantly evolving with the emergence of new categories that are attracting the attention of consumers. The new adult genre is well established in the market. As the popularity of novels and short stories declined, another genre became more prominent than offsetting the decline in fiction sales. Poetry reading gained popularity among U.S. adults, increasing by 76% from 2017 to 2019.

 

Increased personal consumption, coupled with growing interest in personal development, is driving the books market. Today, consumers tend to invest in the hobbies and areas of interest they enjoy. Leisure activities are also emphasized, leading to an increase in readers. This has led to greater dynamics in the market. With increasing purchasing power, consumers are willing to spend money on a variety of products and services according to their hobbies and interests.

 

COVID-19 has had a wide range of effects on several businesses. However, book publishers have done well in 2020, avoiding many of the COVID-induced upheavals that have hit other industries. Overall retail sales of books changed relatively slightly in 2021 compared to 2020.

 

Throughout history, books have undergone significant transformations. The books market has transformed itself into many formats such as e-books and audiobooks, from papyrus scrolls to the introduction of e-books with the advent of digital media and new technologies. As a result, since reading has moved to screens, the market has expanded in terms of prospects for both publishers and users.

 

Books Market Segment Analysis:

By Type, in 2023, the mystery books segment dominated the books market with a 20 % share. This segment's domination can be ascribed to the fact that crime/mystery and thriller fiction is one of the most popular genres of fiction globally, with people flocking to acquire novels in this genre.

 

Science books are mainly nonfiction works that are related to a scientist or a non-scientist. Historically, well-known scientists such as Charles Darwin, Albert Einstein, Carl Sagan, Richard Dawkins, Bill Nye, and Neil deGrasse Tyson have written popular science books. Rachel Carson and Jane Good, for example, are both female scientists and science journalists who have made substantial contributions to their areas. These factors are driving the growth of the segment.

                              

By Distribution Channel, in 2023, the local book shops segment dominated the books market with a 50.3 % share. Consumer utility goods are available in a range of retail stores. These stores mainly sell books to promote a new book or a new publishing house. The retail shop concept includes department stores, convenience stores, and supermarkets where large crowds of people visit every day, whether it's a weekend or a weekday. As part of the promotion plan, new writers or newly released books are generally placed in these outlets. These factors are driving the growth of the segment in the market.

 

The online segment is expected to grow at a CAGR of 8.6 % through the forecast period.  As the first-ever online bookstore, Amazon entered the e-commerce business as an online bookshop. Following Amazon, other websites such as AbeBooks, Alibris, Barnes & Noble, Books-A-Million, and others went active. It was revolutionary when Amazon began selling books online. This is because, despite the fact that many businesses were still operating online, none of them could match Amazon's level of convenience, such as home delivery within 24 hours. These factors are expected to drive the growth of the segment in the books market throughout the forecast period.

 

By Format, the Hardcopy segment dominated the books market with a 73 % share in 2023. Due to customers' desire to reduce screen time, this includes young and millennial readers, as well as parents who wish to limit the amount of time their children spend in front of a screen. Reading on paper offers numerous advantages versus reading on a screen. It is easier on the eyes, easier to browse, and has a certain sturdiness that digital writing, which is somewhat transitory and easily changed, lacks. While many other technologies have been rendered obsolete by more recent advancements, books have remained virtually unchanged for centuries, despite the fierce rivalry.

 

The e-book segment is expected to grow at a CAGR of 4.0% through the forecast period. Increasing trends, busy lifestyles, etc. are expected to drive the growth of the segment through the forecast period.

 

 

Books Market Regional Insights:

The presence of a significant number of independent publishers and publishing businesses in the region is expected to enhance the industry. North America dominated the market with 33.5 % in 2023 the increased number of voracious readers in North America is expected to drive the books market.

 

Through the forecast period, the market in the Asia Pacific is expected to grow at a CAGR of 5.6 %. Local publishers now dominate the region, although demand for international novels is expected to rise. However, because many other languages are spoken here, regional language books are in higher demand than English literature. These factors are expected to drive the growth of the market in this region.

 

Key Players Insights:

 

The Books Market is characterized by the existence of a number of well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the market, key players in the market, particularly in Europe and North America, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Books market to the stakeholders in the industry. The report provides trends that are most dominant in the Books market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Books market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Books market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the market.

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Books market. The report also analyses if the Books market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Books market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Books market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Books market is aided by legal factors.

 

Books Market Scope:

Books Market
Market Size in 2023	USD 151.88 Bn.
Market Size in 2030	USD 186.79 Bn.
CAGR (2024-2030)	3%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Product Science History Mystery Comics Others
	By Distribution Channel Online Local Book Shops Retail Shops Specialty Stores
	By Format Hard Copy E-Book Audiobooks
Regional Scope	North America- United States, Canada, and Mexico   Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Books Market Key Players:  

• Penguin Random House
• Hachette Book Company
• HarperCollins Publishers
• Simon & Schuster, Inc.
• MacMillan Publishers
• Pearson
• Scholastic, Inc.
• MARVEL
• Morris Publishing
• IDW Publishing