NEWARK, DE / ACCESSWIRE / March 29, 2023 / The global book publishers market is predicted to expand at a slow CAGR of about 3.9% from 2023 to 2033. The target market will reach an evaluation of US$ 141.7 billion by 2033 as opposed to US$ 96.1 billion in 2023. Factors such as expanding e-commerce and online retail channels along with high demand for all types of books are responsible for the growth of the book publisher market in the forecast period.
E-commerce giants like eBay and Amazon have established easy and convenient platforms for people to buy and sell books. In addition to this, the penetration of online book clubs and communities, the advancement of offline business, and partnerships between leading book publishers and local booksellers will further drive the book publishers market.
Recent years have witnessed a surge in the number of book and reading enthusiasts that has propelled the demand for several types of books including educational, fictional, non-fictional, and many others. This has resulted in higher sales of books among a large part of the global population. Further, booking reading is also taken up by more and more people across the globe as a part of their relaxation routine or just as a hobby.
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These factors are expected to aid the expansion of the book publishers market size. Again, reading also helps in building social connections, both online and offline which promotes social mobility. It also helps with overall mental well-being. These aspects are pushing people towards reading which, in turn, improves the sales prospect of the book publishers market.
Increasing demand for books among the millennial and Gen-Z population will also contribute to the global growth of the book publishers market. The younger generations are picking up reading as a hobby or as a part of their routine which is expected to amplify the global demand for books and contribute to the growth of the book publishers market. Moreover, the growing popularity and rapid adoption of the print-on-demand (POD) business model will open new avenues of growth for the market. The POD model refers to the printing of a book or a journal only after an order is secured. This process saves investment and avoids the hassle of inventory management which prompts its rising adoption across various businesses. Where these factors aid the growth of the book publishers market, increasing copyright infringement will likely stymie the growth of the market.
Key Takeaways:
Increasing internet usage has resulted in illegal file sharing and a higher piracy rate. The consequent copyright infringement affects both the publishers' interests and the viability of companies which acts as an impediment to market growth.
The book publishers market in the US will grow at a 2.0% CAGR, driven by innovative growth strategies adopted by book publishers of the country.
Germany accounted for a 21% share of the European book publisher market in 2021 and the market in this country will continue to grow during the forecast period owing to increasing reading enthusiasts.
By book type, the fiction segment held 23.4% of the market share in 2022 and will continue to dominate the global marketplace.
Based on sales channels, the local bookshops and specialty stores accounted for 32.4% market revenue share in 2022.
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Competitive Landscape
In a competitive environment, market players are concentrating on employing various business and marketing strategies. A significant portion of market players deploy three primary steps to retain relevancy and these are cost leadership, differentiation focus, and cost focus.
Harper Collins Publishers, MacMillan publishers, IDW Publishing, MARVEL, Pearson, Morris Publishing, Penguin Random House, Scholastic Inc., and Houghton Mifflin Harcourt, among others, are some of the significant players in the book publishers market profiled in the full version of the report.
Global Book Publishers Market by Category
Books Type segments as Global Book Publishers Market:
- Cookbooks
- History
- Science Friction & Fantasy
- Religion & Inspiration
- Fiction
- Mystery
- Romance
- Others (Horror, Comic, Biographies etc.)
By Sales Channel Global Book Publishers Market is segmented as:
- Wholesalers/Distributors
- Hypermarket/Supermarket
- Multi Branded Stores
- Independent Small Stores
- Online Retailer
More Insights Into Book Publishers Market
FMI offers an unbiased analysis of the global book publishers market in its latest report, providing historical data from 2018 to 2022 and forecast statistics for 2023 to 2033. This report further offers insight into market drivers, restraints, trends, and opportunities. For a comprehensive understanding of the global market potential, growth, and scope, the market is segmented on the basis of type, sales channel, and region.
As per FMI estimations, based on segmentation, the fiction books segment will likely continue to dominate the international market space. These are the most interesting and popular books among readers. In terms of sales channels, the local bookshops and specialty stores will account for a significant portion of the market revenue. Based on country, the US will present considerable growth in the book publishers market. The target market is primarily driven by the strong presence of independent publishers, increasing demand for comics, and strategies employed by market players. Germany and India will also contribute to the global growth of the book publishers market.
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Table of Content
1. Executive Summary | Book Publishers Market
1.1. Global Market Outlook
1.2. Summary of Key Statistics
1.3. Summary of Key Findings
1.4. Product Evolution Analysis
1.5. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Development Trends
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