Major players in the non-fiction books market are HarperCollins, Bloomsbury, Scholastic, Pearson, McGraw-Hill Publications, Penguin Random House, Hachette Livre, Thomas Reuters and Elsiever.
New York, March 08, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Non-Fiction Books Global Market Report 2022” – https://www.reportlinker.com/p06243793/?utm_source=GNW
The global non-fiction books market is expected to grow from $13.27 billion in 2021 to $14.02 billion in 2022 at a compound annual growth rate (CAGR) of 5.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16.61 billion in 2026 at a CAGR of 4.3%.
The non-fiction books market consists of revenues generated by entities (organizations, sole traders, or partnerships) that carry out design, editing, and marketing activities necessary for producing and distributing non-fiction books for adults. Nonfiction is a representation of a subject that is presented as fact.
These establishments may publish books in print, electronic, or audio form. Only goods and services traded between entities or sold to end consumers are included.
The main types of non-fiction books are eBooks, printed books, and audiobooks. An audiobook is a spoken version of a book that has been published in electronic form.
The various categories of non-fiction books include religion, travel, biography, history/law/political science, business/economics, cooking/entertainment, computers, crafts/antiques/hobbies/games, performing arts, and others that are distributed through online sales, bookstores and direct sales channel.
Asia Pacific was the largest region in the non-fiction books market in 2021. Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The adoption of an online sales platform is expected to propel the market growth during the forecast period. With the increasing adoption and access to internet services globally, the number of digital buyers keeps increasing every year.
Online platforms create significant value by enabling communication and trade. Besides, these online platforms have modest operating costs.
Bookstores are investing more in online sales channels with the onset of coronavirus and people staying indoors. Online bookstores have also set up a display area of books about health knowledge targeting the epidemic, with a general discount of 20% to 30%.
Therefore, the volume of books being sold through online bookstores is higher than traditional bookstores.
Increasing adoption of online entertainment sources is expected to hinder the market growth during the forecast period. With the proliferation of online entertainment sources, authors compete with not only radio and TV, but a range of new streaming services beyond just Netflix, including Disney+, Hulu , and Amazon Prime.
The Digital media trends survey, 14th edition by Deloitte states that nearly 80% of people in the USA have subscribed to at least one paid online streaming video service. According to Media Partners Asia, online streaming services are likely to see 12% growth in Asia by brands such as Netflix, Disney+Hotstar, and more.
In 2020, internet usage has emerged by between 50% and 70% due to Covid-19, according to preliminary statistics. Authors compete for the limited budgets and leisure time of consumers.
Therefore, the rise in online entertainment sources poses stiff competition over the books market thus retarding the growth of the non-fiction books market.
Print-on-demand orders will create lucrative opportunities for leading vendors operating in the market as this helps in printing books that are of demand and that meet the exact needs of the market. Print-on-demand offers many advantages to the market and remains an important option that overcomes investment risk over a big press run by allowing authors to offer a print book.
The demand for the idea/book is tested using the print-on-demand option and also the investment that could have been spent on a press run for other crucial steps like cover design and editing is thereby saved saving costs of inventory management.African government is committed to using green technologies and innovative solutions to help protect our planet and print-on-demand is one among them.
In August 2021, BookBaby, a leading self-publishing service provider based in the United States, is expanding production with a new investment in an HP Indigo 100K Digital Press, providing more digital printing firepower to accelerate its growth in the publishing market. HP Indigo digital presses have made it possible for individuals and small publishers to print one-of-a-kind books in an efficient manner, thereby supporting the modern Print on a Demand publishing model.
In September 2021, Hachette Book Group, a US-based published company acquired Workman Publishing Co., Inc. for an undisclosed amount. The Workman program is a powerful complement to HBG’s existing publishing programs, and this acquisition has opened up new avenues for growth in exciting directions for HBG. Workman Publishing Co., Inc is a US-based trade book and calendars publisher.
The countries covered in the non-fiction books market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06243793/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001