Book Publishers Market to grow at 3.9% through 2032 | Specialty Store Remain the Leading Sales Channel

The book publishers market is expected to surpass a valuation of US$ 93 Bn in 2022 and at a CAGR of approximately ~3.9% through 2032.

The local book shops and specialty store sales channel dominated the market for books and accounted for the largest revenue share of 32.4% in 2021. A local bookstore will shelve all the popular and current bestsellers genres. Also, buying books at the local store helps keep money circulating within the neighborhood economy.

Key Takeaways from the Book Publishers Market Study

• North America dominated the market and held the largest revenue share of in 2021 on account of the presence of a large number of independent publishers and publishing companies.
• In terms of books type, the friction books are estimated to account for the highest value share in the book publishers market.
• East Asia and South Asia are estimated to dominate the book publishers market.

“With emergence of social and technological changes, the rivalry between firms in the global book publishers market is becoming more intense. A few players in the market are creating a seed fund instead of buying author services, while others are partnering with the newly acquired author services company or merging with a competitor,” says an FMI analyst.

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Impact of COVID-19 on the Market

The outbreak of novel coronavirus has changed the books market. In 2020, during the first lockdown, people are restricted to going outside and also closer to books shops affects the sales of the hard copy of books.

However, the demand for e-books and audiobooks are increased, as it is the best option for the reader to switch towards new trends.  Furthermore, a system like immersive learning and online education drives the market growth.

The introduction of the latest software, hardware and educational materials is assumed to create a platform for a reader with a real time experience. During the pandemic, many people developed a habit of reading books and novels as people have vacant time after doing all their work. But further the rapid inclination towards e-books and audio books is likely to impact market growth.

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Who is winning?

Leading manufacturers of books are focused on aggressive promotional strategies and advertisements that have driven sales growth of books globally. Major players present in the book publishers market are IDW Publishing, Morris Publishing, MARVEL, Scholastic Inc., Penguin Random House, Houghton Mifflin Harcourt., Pearson, MacMillan Publishers, Simon & Schuster, Inc., HarperCollins Publishers, Bertelsmann SE & Co. KGaA, Hachette Book Group, Planeta, and China South Publishing & Media Group Co., Ltd. among others.