Books

Books

Global Books Market to Reach US$175.8 Billion by 2030

The global market for Books estimated at US$143.6 Billion in the year 2023, is expected to reach US$175.8 Billion by 2030, growing at a CAGR of 2.9% over the analysis period 2023-2030. Mystery Books, one of the segments analyzed in the report, is expected to record a 3.7% CAGR and reach US$35.4 Billion by the end of the analysis period. Growth in the Romance Books segment is estimated at 2.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$38.4 Billion While China is Forecast to Grow at 4.7% CAGR

The Books market in the U.S. is estimated at US$38.4 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$35.4 Billion by the year 2030 trailing a CAGR of 4.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.9% and 2.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR.

Global Books Market – Key Trends & Drivers Summarized

How Are Digital Platforms Changing the Book Industry?

The books market is undergoing a significant transformation due to the rise of digital platforms, which are reshaping how consumers access, purchase, and read books. E-books and audiobooks have gained popularity, offering readers the convenience of accessing vast libraries on their digital devices without the need for physical storage. Online marketplaces such as Amazon, Apple Books, and Google Play Books have made it easier for consumers to discover and purchase books from around the world, expanding the reach of both mainstream and independent authors. Additionally, subscription-based platforms like Kindle Unlimited and Audible are providing readers with affordable access to a wide range of books, further boosting the adoption of digital formats.

The growth of digital platforms has also democratized publishing, allowing aspiring authors to self-publish their works without the need for traditional publishing houses. Self-publishing platforms such as Kindle Direct Publishing (KDP) and Smashwords enable writers to publish their books in digital formats and reach a global audience with minimal upfront costs. This has led to a proliferation of new authors and diverse content in the market. While digital books are gaining traction, the demand for physical books remains strong, particularly for certain genres like fiction, children’s books, and coffee table books. However, the shift toward digital consumption is undoubtedly reshaping the landscape of the global books market.

What Role Do Print Books Still Play in the Modern Book Market?

Despite the rise of digital reading, print books continue to play a vital role in the modern book market, driven by readers’ attachment to the tactile experience and the enduring appeal of physical ownership. Many readers prefer the tangible experience of holding a printed book, flipping through its pages, and displaying it on their bookshelves. Print books are particularly popular in certain genres, such as fiction, cookbooks, and art books, where the physical format enhances the reading experience. Moreover, children’s books and educational materials are often favored in print due to their interactive and visual nature.

The collectability and giftability of print books also contribute to their continued relevance. Limited editions, signed copies, and beautifully designed hardcovers are highly sought after by collectors and make for cherished gifts. Bookstores, both independent and chain retailers, play a key role in maintaining the presence of print books in the market, offering readers a curated selection of titles and fostering a sense of community around reading. Bookstores often host events, book signings, and discussions that contribute to the cultural significance of print books. While the convenience of digital formats is undeniable, print books continue to thrive alongside their digital counterparts, catering to a diverse range of reader preferences.

How is Self-Publishing Impacting the Global Books Market?

Self-publishing is having a profound impact on the global books market by democratizing the publishing process and giving authors greater control over their work. Traditional publishing has long been dominated by large publishing houses that acted as gatekeepers, determining which books reached the market. However, with the advent of self-publishing platforms like Kindle Direct Publishing (KDP), authors can now publish their books independently, bypassing the traditional barriers of the publishing industry. This has led to a surge in the number of new books being published each year, offering readers a wider variety of content and giving niche genres and independent voices more visibility.

Self-publishing allows authors to retain more control over their intellectual property, including rights, pricing, and royalties. Many independent authors are finding success by targeting specific audiences and using digital marketing strategies to promote their work. Additionally, the shorter lead times and lower costs associated with self-publishing allow authors to publish books more quickly and respond to reader demand in real-time. While self-published authors face challenges in terms of marketing, distribution, and gaining recognition, the rise of digital platforms has leveled the playing field, enabling more authors to achieve commercial success and reach a global audience.

What Factors Are Driving the Growth of the Books Market?

The growth of the global books market is driven by several factors, including the increasing accessibility of digital reading formats, the rise of self-publishing, and the enduring demand for print books. The widespread availability of e-books and audiobooks, facilitated by the proliferation of smartphones, tablets, and e-readers, has made reading more accessible and convenient than ever before. Subscription-based services such as Kindle Unlimited and Audible have further encouraged readers to consume more content, offering unlimited access to vast libraries of books for a flat fee. The affordability and convenience of digital formats are attracting a younger, tech-savvy audience, contributing to the market’s growth.

The rise of self-publishing has also expanded the diversity of content available in the market, with independent authors producing books in a wide range of genres, from romance and fantasy to non-fiction and niche topics. This democratization of publishing is giving readers access to more varied and personalized content. Additionally, the continued popularity of print books, particularly in certain genres, is sustaining the demand for physical books and supporting traditional bookstores. The global books market is further supported by educational institutions, which drive demand for textbooks and academic publications. Finally, the increasing focus on literacy and reading culture, supported by government initiatives and non-profit organizations, is fostering a growing readership worldwide, contributing to the overall expansion of the books market.

Select Competitors (Total 36 Featured) -

• Akar Kirtasiye Sanayi Ve Ticaret Ltd. STI;Aleph Book Company;American Girl, LLC.;Animate Co., Ltd.;Aroma Borealis Herb Shop;Athena Futures Inc.;B.D. Jeffries, Limited;Baseballism, Inc.;Berli Jucker Public Company;Bertelsmann SE & Co. KGaA

Please note: Reports are sold as single-site single-user licenses. Electronic versions require 24-48 hours as each copy is customized to the client with digital controls and custom watermarks. The Publisher uses digital controls protecting against copying and printing is restricted to one full copy to be used at the same location.

The latest version of Adobe Acrobat Reader is required to view the report. Upon ordering an electronic version, the Publisher will provide a link to download the purchased report.

Prior to fulfillment of an order, the client will be required to sign a document detailing the purchase terms for a publication from this publisher.