Increased sales of audiobooks and e-books are said to have a positive impact on the market for books for children and young adults
The Business Research Company Children’s and Young Adult Books Market – Opportunities and Strategies – Global Forecast to 2030
LONDON, GREATER LONDON, UK, October 27, 2021 /EINPresswire.com/ – Audiobook and e-book sales are growing rapidly in established markets in the US and Europe. Audiobooks and e-books have generated a higher revenue share than physical printing in developed markets such as the United States and the United Kingdom. According to the Audio Publishers Association’s annual sales survey, audiobook sales increased 16% in 2020 in the United States. In addition, the average number of audiobooks listened to per year increased to 8.1% in 2020, from 6.8% in 2019. Additionally, according to reports from the Association of American Publishers, e-book sales have increased. increased by 15.2% and generated US $ 1.0 billion for the first eleven months of 2020. The growing consumer preference for digital versions is expected to have a significant impact on the growth of the market during this period.
The global market size for children’s and young adult books reached a value of almost $ 16.88 billion in 2020, after increasing at a compound annual growth rate (CAGR) of 4.2% since 2015. The market is expected to grow from $ 16.88 billion in 2020 to $ 21.95 billion. in 2025 at a rate of 5.4%. The growth is mainly driven by growing screen time issues which are expected to drive demand for books for children and young adults. The market for books for children and young adults is expected to grow from $ 21.95 billion in 2025 to $ 26.53 billion in 2030 with a CAGR of 3.9%.
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The main players in the global children’s and young adult book industry are Penguin Random House, Hachette Livre, Holtzbrinck Publishing Group, HarperCollins Publishers, Scholastic.
TBRC Global Children’s and Young Adult Books Market report is segmented by Type into Print Book, eBook, Audiobook, by End User into Children (2-10 Years), Teens (11-17 Years), Youth adults (18 to 25 years old), by distribution channel in online distribution, offline distribution.
The printed book market was the largest segment of the children’s and young adult books market segmented by type, accounting for 68.8% of the total in 2020. Going forward, the audio books segment is expected to be the growing segment. fastest in children and young adults. book market, at a CAGR of 13.9% in 2020-2025.
Children’s and Young Adult Books Market – By Type (Print Book, eBook, Audiobook), By End User (Children, Teens, Young Adults), By Distribution Channel (Online Distribution, Offline Distribution) and By Region , Opportunities and Strategies – Global Forecast to 2030, one of the new reports from The Business Research Company which provides an overview of the global children’s and young adult books market, a forecast of the market size and growth of children’s and young adult books for the whole market, global children’s and young adult books market segments and geographies, children’s and young adult books market trends, market drivers for children’s and young adult books, constraints, revenues, profiles and market shares of the main competitors.
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