PUBLISHER: The Business Research Company | PRODUCT CODE: 1429362
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429362
Children and young adult books encompass written works designed for reading by or to children and teens, including poetry, short tales, novels, picture books, and chapter books.
The primary formats for children and young adult books are print books, ebooks, and audiobooks. Audiobooks are spoken versions of electronically published books. Distribution channels include online and offline methods, and the target audience consists of children (2 to 10 years), adolescents (11 to 17 years), and young adults (18 to 25 years).
The children and young adult books market research report is one of a series of new reports from The Business Research Company that provides children and young adult books market statistics, including children and young adult books industry global market size, regional shares, competitors with a children and young adult books market share, detailed children and young adult books market segments, market trends and opportunities, and any further data you may need to thrive in the children and young adult books industry. This children and young adult books market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The children and young adult books market size has grown steadily in recent years. It will grow from $11.76 billion in 2023 to $12.06 billion in 2024 at a compound annual growth rate (CAGR) of 2.6%. The historical growth can be attributed to an increase in the young adult population, a rise in early childhood reading, and the growth of book charities and government initiatives.
The children and young adult books market size is expected to see steady growth in the next few years. It will grow to $13.25 billion in 2028 at a compound annual growth rate (CAGR) of 2.4%. Anticipated growth is driven by the rise of ebooks and audiobooks, increased digital technology penetration, and a growing preference for independent bookstores. Key trends include personalized storybooks, integration of popular video games into books, subscription models, investment in self-publishing platforms, print on demand services, and increased mergers and acquisitions.
The growth of the children and young adult books market has been significantly influenced by the increased disposable income among consumers. The upsurge in disposable income translates to heightened consumer purchasing power and an amplified likelihood of investing in leisure activities such as book reading. For instance, in the US, the national median family income for fiscal year 2021 surged to $79,900 from $78,500 in fiscal year 2020. This elevation in disposable income has notably propelled consumer interest and spending within the children and young adult books market.
The surge in audiobook sales stands as a key driver propelling the growth of the children and young adult books market. Audiobooks, recorded versions of written material narrated audibly and accessible across various devices, offer a convenient alternative to traditional reading formats. This adaptation of books geared towards children and young adults into audio formats provides enhanced flexibility, enabling youngsters and their families to enjoy stories during commutes, bedtime, or daily activities. As reported by Bookwire GmbH in 2023, the audiobook turnover in Spain and Latin America surged by 52.81% in 2022 compared to 2021, highlighting the remarkable surge in audiobook sales. This surge in audiobook sales serves as a significant driving force behind the escalating growth of the children and young adult books market.
Publishing companies within the children and young adult books market are increasingly embracing personalized storybooks, allowing for the incorporation of children's names and interests within the narrative. This trend is prominently seen in bedtime storybooks, where companies such as Wonderbly create personalized stories that enable children to envision themselves engaging in extraordinary adventures. Wonderbly tailors books to different age groups, catering to each child's specific interests and preferences. Additionally, Bookyboo is another notable company offering personalized books designed for children.
Major players in the children and young adult books market are launching innovative book series, such as But Why, aimed at both educating and entertaining kids. The But Why series, introduced by But Why, a project under Vermont Public Co, a US-based public broadcaster, focuses on providing educational content for elementary-aged children. For example, in April 2022, the series unveiled new editions such as But Why Are Llamas Ticklish and But Why Do Fish Breathe Underwater. These books cater to both adult-guided reading sessions for elementary-aged children and self-reading by children aged seven to eleven, offering engaging and informative content.
In December 2021, Book Depot, a bargain book distributor headquartered in Ontario, successfully acquired American Book Company. The financial details of this acquisition were not disclosed. Book Depot's strategic move of acquiring American Book Company aligns with its growth strategy, aiming to bolster and expand its book distribution capacities. American Book Company, a US-based bargain book shop chain and book distributor, represents a significant addition to Book Depot's operations, enhancing its distribution capabilities within the book market.
Major companies operating in the children and young adult books market report are Penguin Random House, Hachette Livre, Holtzbrinck Publishing Group, HarperCollins Publishers, Scholastic, Phoenix Publishing & Media Inc., Simon & Schuster, Oxford University Press, McGraw-Hill Education, Bonnier Group, Tulika Books, Amar Chitra Katha, Katha, Duckbill, Pratham Books, Puffin Books, Speaking Tiger, Walker Books, EK Books, Allen & Unwin, Ford Street Publishing, MidnightSun Publishing, Wombat Books, Pan Macmillan Australia, Big Sky Publishing, Penguin Random House Australia, Hinkler Books, New Holland Publishers, Shogakukan Inc., Fukuinkan Shoten Publishers Inc., Iwasaki Publishing Co. Ltd., Kaisei-Sha Publishing Company Ltd., China Publishing Group, Zhejiang University Press Co. Ltd., China Agriculture Press, Dolphin Books, Anhui Time Anime Company Limited, Commercial Press International and the Children's Fun Publishing House, Bloomsbury Publishing, Hachette UK (Holdings) Limited, Magink Publishing House, Gallimard Jeunesse, Editorial Planeta, Meshcheryakov Publishing House, Mozaika-Sintez Education Publishing House (Russia), Albatros Publishing House Co. Inc., Znak Spoleczny Instytut Wydawniczy, Scholastic Inc., Penguin Random House Audio, Thomson Reuters, TCK Publishing, SAGE Publications, Hachette Book Group, Little Bee Books, Houghton Mifflin Harcourt, Wiley, Cengage, Austin Macauley Publishers, Kalimat Publishing and Distribution, Medina Publishing, Zamzam Publishing (UAE), Kadi and Ramadi, Katara Publishing House, Hamad Bin Khalifa University Press, Roza Publishing House, Dar Al Watad, Lusail Publishing House, Mars Publishing House, Obeikan Bookshop, Macmillan South Africa (Pty) Ltd., Oxford University Press Southern Africa (Pty) Ltd. (South Africa), New Africa Books (Pty) Ltd., Saray Publishing, Al Arabi Publishing and Distribution, Literamed Publications Limited, Grace Springs Africa Publishers, Ilupeju.
Asia-Pacific was the largest region in the children and young adult books market in 2023. North America was the second largest region in the global children and young adult books market share. The regions covered in the children and young adult books market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the children and young adult books market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
The children and young adult books market consists of revenues earned by entities by offering design, editing, and marketing activities necessary for producing and distributing children and young adult books. These establishments may publish books in print, electronic, or audio form. The market value includes the value of related goods sold by the service provider or included within the service offering. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Children and Young Adult Books Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on children and young adult books market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for children and young adult books? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The children and young adult books market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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