Comic books are specific periodicals that utilize still images, serialized, and brief prose to tell a story. Comic books are designed to be quickly read due to their condensed lengths and emphasis on pictures. The market for comic books has been fueled by important factors like increasing money and interest and ongoing format advancements that have improved the reading experience overall. Additionally, comic books are becoming more and more popular in both developed and developing countries. The majority of Americans read these books every month. The popularity of comic books increased significantly in 2021, with sales increasing by almost 70% compared to the combined sales of 2018 and 2019, according to a report by Comicsbeat. Furthermore, as a significant component of book publishing that librarians and educators now recognize as the common reading for children and young adults, comic books are anticipated to experience an increase in demand.
Globally, the comics industry suffered, as expected, from the COVID-19 pandemic. The comic book industry's supply chain deals with several issues: a lack of truck drivers and freight capacity, a labor shortage in warehouses, and sky-high shipping container costs. Independent bookstores closed their doors because they expected the worst. The margins in these stores were already very thin. In the wake of the COVID-19 pandemic, a protracted period of closure has caused consumer preferences to shift toward online shopping and weakened the communities they had worked so hard to create, fueling the market's growth over the forecast period.
Growing Popularity of Comic Events Will Support Market Development
The growth has significantly influenced the growing acceptance of comics among people in the popularity of comic events like Comic-Con. For instance, according to data from the San Diego Convention Center published in 2021, over 150,000 people attended the New York Comic-Con event, while only about 111,000 people attended the Japan Comiket event. Additionally, as smartphone adoption rises, more people will probably need to buy and read books online, supporting the demand for comic books and magazines. Smartphones are now required technology for both shopping and entertainment. Consumer spending on print and digital comics will probably increase as smartphone adoption rises, which will help the global comics market grow.
Widespread Accessibility of Replacement Products to Stagnate Market Growth
Readers' increasing preference for audiobooks is hampering the market expansion of comic books in the U.S. The lockdown has only enhanced people's need for audiobooks, which have become increasingly popular in recent years. The demand for audiobooks is rising due to accessibility for people with physical disabilities and populations who do not speak English. Unlike fiction and non-fiction books, comic books are not available as audiobooks. This factor is preventing the market from expanding globally. Additionally, fierce competition from unorganized industry participants who offer competitive prices reduces the revenues from key companies' products and slows market expansion. As a result, one important factor preventing the market from growing is the higher price of comics.
Based on type, the comic book market is segmented into digital and non-digital. The non-digital category dominated the market in 2021. Over reading on a screen, reading from the printed word has several compelling advantages. It has a certain durability that the relatively short and easily editable digital text does not. It is easier on the eyes, easier to browse, and comes with a more appealing aesthetic. Besides, the digital category is anticipated to grow significantly over the forecast period. The preference for reading electronic books, books that can be downloaded, and audiobooks eliminate the need to carry physical books around. It's possible to carry the book anywhere with gadgets like Kindles and tablet PCs.
By format, the market is segmented into hard copy, e-books and audiobook. The hard copy category dominated the market in 2021. The most common reading format for adults and kids is still traditional print (hard copy), which is widely accessible, tactile, and reasonably priced. Besides, the e-books category is anticipated to grow significantly over the forecast period. A sharp increase in yearly e-book sales revenues across the globe has been caused by a higher supply and demand for e-book devices and genres, accelerating the market's growth.
By genre, the market is segmented into science-fiction, manga, superhero, non-fiction and others. The science-fiction category dominated the market in 2021. The market's growth is driven by science fiction comic books, which offer entirely new themes, backgrounds, and experiences from creators with entirely new perspectives. Additionally, the science fiction genre provides sci-fi comics with fresh, ground-breaking, and provocative additions, which is anticipated to accelerate market growth over the forecast period. Besides, the manga category is anticipated to grow significantly over the forecast period. It is anticipated that the growing interest in manga among young people worldwide will propel manga sales in the nation.
Asia Pacific is projected to hold the largest comic book market share over the forecast period. Local publishers dominate the area, and it is predicted that there will be an increase in demand for foreign comic books. However, because so many different languages are spoken in this area, there is a higher demand for books written in regional languages than for books written in English. Due to the widespread use of high-speed Internet in the nations in this region, e-book demand is also rising.
On the other hand, the European comic book market is anticipated to grow significantly over the forecast period. The market growth in the area is driven by the rising number of titles published each year, which is supported by the surge in digital publishing in various formats, the digitization of backlists, expanding print-on-demand services, and rising self-publishing titles. Many European nations have seen a gradual rise in e-book and audiobook sales following COVID-19, and in some cases, publishers have chosen only to release particular titles in digital formats.
LIST OF KEY COMPANIES PROFILED:
- Marvel Entertainment, LLC (U.S.)
- Dark Horse Media, LLC (U.S.)
- Image Comics (U.S.)
- D.C. Entertainment (S.)
- Archie Comics (U.S.)
- IDW Media Holdings, Inc. (U.S.)
- Akita Publishing Co., Ltd. (Japan)
- Futabasha Publishers Ltd. (Japan)
- Rebellion (U.K.)
- DMG Entertainment (U.S.)
- July 2022: Marvel released two significant giveaways to commemorate publishing 30,000 comics, including the brand-new Infinity Series Avengers Unlimited on the Marvel Unlimited app and the distribution of 30 free comic books.
- April 2022: The completion of Warner Bros' merger with Discovery was advantageous to D.C. Comics. They provide various creatives and insights for comic book marketing campaigns and promotions, which in turn helps D.C. Comics grow.
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Type, By Format, By Genre and By Geography|