Anime Market Size

Anime Market Analysis

The global anime market size is expected to grow from USD 30.55 billion in the current year to USD 45.8 billion in the next five years, at a CAGR of 8.44% during the forecast period. The global anime market is primarily driven by the rapid consumption of anime in terms of the rising popularity of videos and television shows, the technological advancements in the anime market, and the growing popularity of anime worldwide coupled with growth in the production of anime films.

• The global anime market has witnessed substantial growth in the past few years and is expected to grow at a rapid pace in the coming years, owing to the increasing consumption of anime by the younger generation, the adoption of advanced technologies by market vendors, and the growing popularity of anime merchandise. In addition, consumers across the world today have access to a vast amount of immersive content, given the rise in the various over-the-top (OTT) streaming services such as Netflix, Amazon Prime, YouTube, and more.
• Further, recent technological advancements in the anime market are driving the anime market across sectors to ensure better end-user communication. The anime industry is set to witness exponential growth, given advanced technologies such as Metaverse shaping up with the help of artificial intelligence(AI) and virtual reality(VR). Market vendors in the global anime market have started using advanced technologies to shoot, produce, and edit content to depict high-end graphics. As a result, it has fostered the market's overall growth rate over the forecast period.
• Moreover, the increasing adoption of virtual reality is analyzed to aid the market growth. Several anime producers worldwide have already begun relying on modern virtual reality tools to take over skill-intensive and time-consuming jobs. With innovative virtual reality tools, animators can now rig characters and animate keyframes in 3D. In addition, they can easily incorporate 360-degree videos and animation data and achieve more by recording the audio on the platform itself. Along with increasing productivity, virtual reality creates a platform for better animator collaboration by speeding up the production process and enabling them to connect frames effortlessly. Such factors are expected to offer lucrative growth opportunities for market vendors in the coming years.
• However, the rising production cost and the shortage of skilled professionals in the anime landscape are analyzed to hamper the market growth in the coming years. Production costs have continued to increase over the past few years because of soaring labor costs due to workstyle reforms; there has been a sharp rise in unit costs when hiring contractors, so anime production costs are rising faster than the costs for orders. Additionally, there is a shortage of production and creation staff, and the standards required for anime production are steadily growing, which is a primary factor in the increase in cost.
• The COVID-19 pandemic impacted the global anime market growth owing to the shutdown of production houses; drop in merchandise sales coupled with delays in the production of anime content. This negatively impacted the anime industry's profits and sales. However, during the pandemic, the growth in streaming platforms has positively impacted the market growth. Post-pandemic production orders have continued to increase, and both the number of anime titles and the production studios creating them have increased, with the proliferating streaming market contributing to this increase in demand.