Increasing Audiobook And eBook Sales Is Said To Positively Impact The Children and Young Adult Books Market
Children And Young Adult Books Market – Opportunities And Strategies – Global Forecast To 2030
The Business Research Company’s Children and Young Adult Books Market – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, October 27, 2021 /EINPresswire.com/ — Audiobook and eBook sales are growing rapidly in established the markets of the US and Europe. Audiobooks and eBooks generated a higher share of revenues than physical print in developed markets such as the US and UK. According to Audio Publishers Association’s annual sales survey, the sales for audiobooks increased by 16% in 2020, in the US. Also, the average number of audiobooks listened to per year increased to 8.1% in 2020, up from 6.8% in 2019. Additionally, according to reports from the Association of American Publishers, eBook sales were up 15.2%, and generated $1.0 billion USD for the first eleven months of 2020. Increasing consumer preference for digital versions is expected to significantly impact the growth of the market during this period.
The global children and young adult books market size reached a value of nearly $16.88 billion in 2020, having increased 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 due to the increasing screen time concerns which is expected to drive the demand for children and young adult books. The children and young adult books market is expected to grow from $21.95 billion in 2025 to $26.53 billion in 2030 at a CAGR of 3.9%.
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https://www.thebusinessresearchcompany.com/report/children-and-young-adult-books-market
Major players covered in the global children and young adult books industry are Penguin Random House, Hachette Livre, Holtzbrinck Publishing Group, HarperCollins Publishers, Scholastic.
TBRC’s global children and young adult books market report is segmented by type into print book, ebook, audiobook, by end-user into children (2 to 10 years), adolescents (11 to 17 years), young adults (18 to 25 years), by distribution channel into online distribution, offline distribution.
The print book market was the largest segment of the children and young adult books market segmented by type, accounting for 68.8% of the total in 2020. Going forward, the audiobook segment is expected to be the fastest growing segment in the children and young adult books market, at a CAGR of 13.9% during 2020-2025.
Children and Young Adult Books Market – By Type (Print Book, E Book, Audio Book), By End User (Children, Adolescents, Young Adults), By Distribution Channel (Online Distribution, Offline Distribution) And By Region, Opportunities And Strategies – Global Forecast To 2030 one of a series of new reports from The Business Research Company that provides children and young adult books global market overview, forecast children and young adult books market size and growth for the whole market, children and young adult books global market segments, and geographies, children and young adult books market trends, children and young adult books market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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