LONDON, June 01, 2021 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research report on the children and young adult books market, children and young adult books companies are increasingly offering books based on popular video games. The growing popularity of video games ensures that the books based on popular video game characters help kids generate interest in reading and telling new stories about their favorite video games. With new games being published, there is also an opportunity for crossovers and a combination of the book and the videogame to create a multifaceted immersion. For instance, popular book companies like Barnes & Noble and Penguin Books offer a range of books based on video games like Pokémon, Super Mario, Angry Birds, Sonic, Daniel X, and others.
Companies in the young adult and children’s books market are focusing on offering personalized storybooks for creating more engaging content and giving a better experience. Personalized storybooks are sold online and allow children’s names, addresses, and their likes and dislikes to be inserted into a story book, and even allows the characters to look like the children. These books are liked by children because they are specially made for them and feature children or their friends and family members as story heroes. For instance, UK based Bang On Books provides personalized adventure books for kids where they become the main character. It allows customers to choose from several different stories online before customizing them with the child’s details and photographs.
The Business Research Company’s report titled Children and Young Adult Books Global Market Report 2021: COVID 19 Impact and Recovery to 2030 covers major children and young adult books companies, children and young adult books market share by company, children and young adult books manufacturers, children and young adult books market size, and children and young adult books market forecasts. The report also covers the global children and young adult books market and its segments.
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The global children and young adult books market size is expected to grow from $16.88 billion in 2020 to $18.2 billion in 2021 at a compound annual growth rate (CAGR) of 7.8%. 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 $21.95 billion in 2025 at a CAGR of 4.8%.
Asia Pacific is the largest region in the global children and young adult books market, accounting for 34.4% of the total in 2020. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the children and young adult books market will be the Middle East and South America, where growth will be at CAGRs of 13.0% and 9.7% respectively during 2020-2025. These will be followed by Africa and Eastern Europe, where the markets are expected to grow at CAGRs of 8.8% and 7.0% respectively.
The global children and young adult books market is concentrated, with a few big players taking over the market. The top ten competitors in the market made up to 60.98% of the total market in 2020. Major players in the market include The Penguin Random House, Hachette Livre, Holtzbrinck Publishing Group, HarperCollins Publishers, Scholastic, Phoenix Publishing & Media, Inc., Simon & Schuster, Oxford University Press, McGraw-Hill Education, and Bonnier Group.
Children and Young Adult Books Global Market Report 2021: COVID 19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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