Global Books Market Report and Forecast 2024-2032

Global Books Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global books market size reached a value of USD 136.17 billion in 2023. Aided by the growing demand for both physical and digital books across various genres and the rising popularity of audiobooks, the market is projected to further grow at a CAGR of 1.4% between 2024 and 2032 to reach a value of USD 154.32 billion by 2032.

Books remain a fundamental part of education, entertainment, and knowledge dissemination. They cover a wide spectrum of genres, including fiction, non-fiction, academic, and children’s literature. The format of books has evolved over time, with the traditional print book still holding a significant share in the market, while the increasing adoption of digital and audiobooks is driving additional growth. Audiobooks, in particular, have gained popularity due to their convenience, allowing consumers to engage with content while multitasking.

The global books market growth is driven by several key factors, including rising literacy rates, technological advancements, and changing consumer preferences. The increase in educational initiatives and policies promoting literacy, particularly in developing regions, has bolstered the demand for books, especially academic and educational materials. Furthermore, the growing emphasis on lifelong learning and skill development is increasing the consumption of non-fiction books, particularly in areas like self-help, business, and personal development.

Another factor contributing to the market growth is the rise in e-commerce platforms that have revolutionised book retailing. Online platforms, including Amazon and other digital bookstores, offer consumers greater accessibility, with extensive catalogues and competitive pricing. The convenience of purchasing books online, coupled with the ease of downloading e-books instantly, has shifted consumer behaviour towards digital formats. This trend is particularly strong in developed markets where internet penetration is high, and consumers are more likely to embrace digital technologies, further driving the books market revenue.

The increasing demand for digital content is also shaping the market dynamics. E-books and audiobooks provide significant advantages, such as portability, instant access, and cost-effectiveness, making them attractive to tech-savvy consumers. Furthermore, the availability of subscription services, such as Kindle Unlimited and Audible, has further facilitated the consumption of digital books, offering readers an affordable and flexible means to access a wide range of content. This increasing adoption of digital content is leading to the overall books market expansion.

However, as per the books market analysis, physical books still hold a significant place in the market, especially in categories like children's books, coffee table books, and educational textbooks. Physical books offer a tactile experience that many readers continue to value, and they often serve as collectibles or gifts. The demand for printed books is particularly strong in emerging markets, where physical retail stores remain an important distribution channel.

The global market for books is also benefiting from the rise in self-publishing. Advances in technology have made it easier for authors to bypass traditional publishing houses and independently publish their work. Platforms like Amazon Kindle Direct Publishing (KDP) have empowered authors, providing them with the tools to create, market, and distribute their books directly to readers. This has led to a surge in the number of self-published titles, further expanding the range of content available in the market. This is one of the key books market trends.

Moreover, the market has witnessed increasing investment in audiobooks. Major publishers are capitalising on the growing demand for audiobooks by expanding their audiobook portfolios and offering narrated versions of new releases alongside print and digital editions. The audiobook format is particularly appealing to younger audiences and busy professionals who prefer listening to content while commuting or performing other tasks.

The global market for books is being driven by the expansion of digital formats, rising literacy rates, and evolving consumer preferences. As publishers continue to adapt to new technologies and consumer behaviours, the market is poised to remain resilient and dynamic. By balancing the traditional appeal of print books with the increasing demand for digital content, the global books market is set to thrive in a rapidly changing landscape.

Market Segmentation

The market can be divided based on type, format, distribution channel, and region.

Market Breakup by Type

• Science
• Fantasy
• Mystery
• Historical
• Romance
• Literary
• Educational
• Comic
• Others

Market Breakup by Format

• Hard Copy
• E-Books
• Audiobooks

Market Breakup by Distribution Channel

• Online
• Local Book Shops
• Retail Shops
• Speciality Stores

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global books market. Some of the major players explored in the report by Expert Market Research are as follows:

• Penguin Random House LLC
• Hachette Book Group
• Pearson Plc
• IDW Media Holdings Inc.
• HarperCollins Publishers L.L.C.
• Simon & Schuster, LLC
• Holtzbrinck Publishing Group
• Scholastic Inc.
• Walt Disney Co. (Marvel Comics)
• Morris Publishing
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.