The global comic book market size was valued at USD 6.9 billion in 2021. The market is projected to grow from USD 6.9 billion in 2021 to USD 12.3 billion by 2028, exhibiting a CAGR of 10.10% during the forecast period.
 
Comic books are specific periodicals that utilize still images, serialized, and brief prose to tell a story. Comic books are designed to be quickly read due to their condensed lengths and emphasis on pictures. The market for comic books has been fueled by important factors like increasing money and interest and ongoing format advancements that have improved the reading experience overall.

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Additionally, comic books are becoming more and more popular in both developed and developing countries. The majority of Americans read these books every month. The popularity of comic books increased significantly in 2021, with sales increasing by almost 70% compared to the combined sales of 2018 and 2019, according to a report by Comicsbeat. Furthermore, as a significant component of book publishing that librarians and educators now recognize as the common reading for children and young adults, comic books are anticipated to experience an increase in demand.
 
COVID-19 IMPACT

Globally, the comics industry suffered, as expected, from the COVID-19 pandemic. The comic book industry's supply chain deals with several issues: a lack of truck drivers and freight capacity, a labor shortage in warehouses, and sky-high shipping container costs. Independent bookstores closed their doors because they expected the worst. The margins in these stores were already very thin. In the wake of the COVID-19 pandemic, a protracted period of closure has caused consumer preferences to shift toward online shopping and weakened the communities they had worked so hard to create, fueling the market's growth over the forecast period.
 
DRIVING FACTORS

Growing Popularity of Comic Events Will Support Market Development

The growth has significantly influenced the growing acceptance of comics among people in the popularity of comic events like Comic-Con. For instance, according to data from the San Diego Convention Center published in 2021, over 150,000 people attended the New York Comic-Con event, while only about 111,000 people attended the Japan Comiket event. Additionally, as smartphone adoption rises, more people will probably need to buy and read books online, supporting the demand for comic books and magazines. Smartphones are now required technology for both shopping and entertainment. Consumer spending on print and digital comics will probably increase as smartphone adoption rises, which will help the global comics market grow.

View More Information :  https://www.globenewswire.com/en/news-release/2022/12/06/2568418/0/en/Global-Comic-Book-Market-to-Reach-USD-12-3-Billion-by-2028-at-a-10-10-CAGR-Markets-N-Research-Analysis-Outlook-Leaders-Report-Trends-Forecast-Segmentation-Growth-Rate-Value.html

 
RESTRAINING FACTORS

Widespread Accessibility of Replacement Products to Stagnate Market Growth

Readers' increasing preference for audiobooks is hampering the market expansion of comic books in the U.S. The lockdown has only enhanced people's need for audiobooks, which have become increasingly popular in recent years. The demand for audiobooks is rising due to accessibility for people with physical disabilities and populations who do not speak English. Unlike fiction and non-fiction books, comic books are not available as audiobooks. This factor is preventing the market from expanding globally. Additionally, fierce competition from unorganized industry participants who offer competitive prices reduces the revenues from key companies' products and slows market expansion. As a result, one important factor preventing the market from growing is the higher price of comics.

LIST OF KEY COMPANIES PROFILED:

Marvel Entertainment, LLC (U.S.)
Dark Horse Media, LLC (U.S.)
Image Comics (U.S.)
D.C. Entertainment (S.)
Archie Comics (U.S.)
IDW Media Holdings, Inc. (U.S.)
Akita Publishing Co., Ltd. (Japan)
Futabasha Publishers Ltd. (Japan)
Rebellion (U.K.)
DMG Entertainment (U.S.)

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