Comic Book Market Size

Comic Book Market Analysis

The global comic book market was valued at USD 16.24 billion in the current year. It is expected to reach USD 21.10 billion by the end of the forecasted year, registering a CAGR of 5.37% during the forecast period. 

• The increasing production of comics with fascinating stories and attractive illustrations to help illustrate the content is driving the popularity of comics globally. These books enable readers to enhance their vocabulary and creativity and create a strong value system through a positive memo. These books are available in various genres, such as fantasy, romance, and science.
• The widespread availability and rising popularity of e-comic books are transforming the publishing industry. In contrast, the nature and scope of e- comic books change differ significantly from company to company and genre to genre. Further, With interactive e-books, and animated e-books, e-publishing businesses have enabled many publishers and authors to get their works to market faster and in an advanced way. The growing number of devices capable of providing digital media and the increasing internet penetration has allowed consumers to access the media content of their choice, in terms of information, entertainment, or social activity, anywhere.
• In 2022, the total electronic and print manga sales figure was around JPY 677 billion (USD 5.05 billion), per National Publishing Association and Publishing Science Institute statistics. The market's development is further driven by the launch of different new titles, in line with the volatile demand from the audience. For instance, in 2022, Yen Press introduced 4 titles, including Josee, Heroine No More; Gahi-chan!; and Unnamed Memory, the Tiger, and the Fish.
• People are plagued with artificial intelligence (AI), and businesses are developing an AI image generator that operates by reacting to text prompts from the user to print comics. This new art-making AI has opened novel standards for generating previously unimaginable content and hastening the production of distinctive comics. This new development will increase the demand for comics globally in the coming years. 
• For instance, in June 2022, Living the Line Books announced the first AI-illustrated comic book, Abolition of the Man, in partnership with MidJourney AI, an AI image-generation system. The comics will be exclusively obtainable from Diamond Comic Distributors.
• The increasing preference for audiobooks among readers is hampering the market growth. Audiobooks have accumulated considerable popularity in the last few years, and the lockdown has only raised the demand for these books among individuals. The ease of accessibility to various comics for physically disabled and non-English speaking groups is increasing the demand for audiobooks. However, this factor is restraining the growth of the market. Also, stiff competition from the unorganized market players with competitive pricing may impact the key firm's product revenues and hamper the market growth. Therefore, the higher cost of comics and the availability of alternate mediums are substantial factors limiting the industry's development.
• The COVID-19 pandemic had a significant impact on the comic book industry, resulting in the shutdown of Diamond Comic Distributors, which had held a near-monopoly on the distribution of comic books in North America. This decision, made by the CEO, was prompted by various issues related to the pandemic, such as challenges for retailers in serving consumers, supply chain disruptions for printing partners, and shipping delays. This unprecedented step halted the distribution and production of new comic books, representing the first instance in the past eight decades that "New Comics Day" had been suspended.