Pune, India, Nov. 02, 2022 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the comic book market The size was valued at USD 14.69 billion in 2021. The market is expected to grow from USD 15.35 billion in 2022 to USD 21.37 billion in 2029, growing at a CAGR of 4.8% during the forecast period. The growing production of comic books and the rising prevalence of branded graphic novel movies are expected to fuel the growth of the industry. Fortune Business Insight™ provides this information in its report entitled “Comics market, 2022-2029.”
Impact of COVID-19
Growing internet addiction Improving growth prospects
This market has been negatively affected during the COVID-19 pandemic due to the growing reliance on the internet. The alarming spike in COVID-19 infections has led to the adoption of strict containment standards. Additionally, digital and physical comic book sales have exploded through online outlets, facilitating sales of the product. For example, according to figures provided by Live Mint, in March 2020 lockdown relaxations prompted consumers to improve consumption of comics, books and mobile apps. This factor has bolstered the growth of the market during the pandemic.
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comics Market Report Scope and Segmentation:
|2029 value projection||$21.37 billion|
|Size of the comic book market in 2021||$14.69 billion|
|Number of pages||160|
|Segments Covered||By product type, by end user, by distribution channel, by region|
|Comics Market Growth Drivers||Growing Popularity of Comedy Events to Drive Market Growth|
|Adoption of digital technology to fuel the consumption of comedy content|
Fortune Business Insights™ lists all companies in the comics market currently working to reduce the impact of the Covid-19 pandemic on the market:
- Marvel Entertainment, LLC (USA)
- Dark Horse Media, LLC (USA)
- IDW Media Holdings, Inc. (USA)
- Akita Publishing Co., Ltd. (Japan)
- Futabasha Publishers Ltd. (Japan)
The report provides a detailed analysis of major segments and latest market trends. It discusses in detail the driving and restraining factors and the impact of COVID-19 on the market. Moreover, it examines the regional developments and the strategies undertaken by the major market players.
Drivers and Constraints
Growing adoption of digital technology to drive market progress
Comics are fictional books with attractive illustrations and panels. The industry has grown considerably and is no longer of interest only to children. Comics have long been an art medium that provides political commentary using fictional characters. The increasing adoption of digital technology has empowered comic book writers, illustrators, and publishers. Additionally, the growing adoption of digital comics is expected to drive the demand for graphic novels. Additionally, the growing demand for smartphones is expected to drive the adoption of comics, thereby improving sales. These factors can boost the growth of the comic book market.
However, wide availability of substitutes and high prices in some countries may hamper market growth.
Browse Detailed Abstract of Research Report with TOC:
The physical comics segment will dominate due to growing trends in graphic novel collecting
By product type, the market is segmented into physical comics and digital comics. The physical comics segment is expected to dominate due to growing trends in graphic novel collecting.
Leading adult segment due to growing preference for comic book reading
According to end-user, the market is categorized into adults and children. The adult segment is expected to lead due to the growing preference for reading comics. It allows readers to improve their thoughts and creativity.
Book Sores segment will hold the highest market share, supported by the increase in book outlets
Based on the distribution channel, the market is categorized into bookstores, comic stores, online stores, and others. The bookstore segment is expected to hold the highest market share owing to the increase in book outlets.
Regionally, the market is grouped into North America, Europe, Asia-Pacific, South America, Middle East & Africa.
Rapid Growth of Anime Industry to Propel Industry Growth in Asia-Pacific
Asia-Pacific is expected to dominate the comics market share owing to the rapid growth of the anime industry. The North America market was worth USD 7.60 billion in 2021 and is expected to grow significantly over the forecast period. Moreover, the rapid growth of the e-commerce sector is expected to support the growth of the industry.
In Europe, the growing production of comics in EU countries is expected to drive progress in the industry. For example, in February 2021, according to data from Aldus, in Spain, Italy, France and Germany, nearly 3,000 to 4,000 titles of comic novels and magazines were published each year.
In North America, the presence of multiple comic book stores could fuel sales of the product. Moreover, the growing purchasing abilities of consumers are likely to propel the demand for products.
Reasons to get this report:
- Qualitative and quantitative market research based on segmentation including both economic and non-economic factors
- Market value data for each section and sub-segment
- Indicates the region and market segment likely to grow fastest and dominate the market.
- The consumption of the product/service in each region is highlighted along with the factors affecting the market in each region.
- The competitive landscape includes market rankings of top players, as well as new service/product launches, collaborations, corporate expansions, and acquisitions made by featured companies in recent years.
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Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Emerging trends
- key ideas
- Overview of parent/related markets
- Industry SWOT Analysis
- Supply chain and regulatory analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches and Mergers & Acquisitions
- Qualitative analysis (in relation to COVID-19)
- Impact of COVID-19
- Supply chain challenges
- Potential opportunities due to COVID-19
- Global Comics Market Analysis, Outlook and Forecast, 2018-2029
- Main results/summary
- Market size estimates and forecasts
- By product type (value)
- physical comic
- digital comic
- Per end user (value)
- By distribution channel (value)
- Comic shops
- Online stores
- By region (value)
- North America
- Asia Pacific
- South America
- Middle East and Africa
- By product type (value)
Major Players Introduce New Products to Boost Brand Image
Major companies operating in the market are introducing new products to increase sales and boost their brand image. For example, Dark Horse Media, LLC launched the novel Frankenstein: New World comic in August 2022 to attract consumers. This strategy can allow the company to use a renowned franchise and enhance its brand image. Additionally, major market players are deploying research and development, mergers, acquisitions, new product launches, and expansions to elevate their position in the market.
Development of key industry
- August 2022: Dark Horse Media and Netflix have extended their partnership and continued to deliver a fresh take on their IP movies.
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Frequently Asked Questions (FAQ):
1. Is the comics industry growing?
Answer: Fortune Business Insights research reports that the global market size was USD 14.69 billion in 2021 and is expected to reach USD 21.37 billion by 2029.
2. Who are the main players in the comics market?
Answer: Marvel Comics (New York, USA), DC Comics, Inc (CA, USA), Dark Horse Comics (Oregon, USA), Image Comics (Oregon, USA), Akita Publishing Co., Ltd (Tokyo, Japan) and others are some of the major players in the global market.
3. What are the key factors increasing the market?
Answer: The increasing improvement in the content provided by the major players is the major driver for the growth of the market.
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