by The global Anime Market is estimated to be valued at US$ 27.65 Billion in 2022 and is expected to exhibit a CAGR of 17.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Anime refers to a style of animation that originated in Japan and has gained significant popularity worldwide. It involves vibrant and colorful visuals, unique storytelling, and diverse themes that appeal to a wide range of audiences. Anime products include TV shows, movies, merchandise, and streaming services. The advantages of anime lie in its ability to portray complex narratives, engage viewers emotionally, and offer a distinct cultural experience. The growing demand for anime products and the increasing fanbase contribute to the rapid growth of the Anime Market.
Market Key Trends:
The key trend driving the Anime Market is the growing popularity of anime streaming platforms. The emergence of digital platforms such as Netflix, Hulu, and Crunchyroll has made it easier for anime enthusiasts to access a wide range of anime content. These platforms offer a vast library of shows and movies, both new releases and classics, with options for subtitles and dubbed versions. The convenience and affordability of streaming services have led to a surge in anime consumption, especially among international audiences. This trend is expected to continue driving the growth of the Anime Market in the coming years.
Porter’s Analysis
The threat of new entrants:
The threat of new entrants in the anime market is low. This is due to high entry barriers such as the need for significant investment in production and distribution channels, as well as the dominance of established players with strong brand recognition.
Bargaining power of buyers:
The bargaining power of buyers in the anime market is moderate. While consumers have a wide range of options and can switch between different anime series and genres, they are still influenced by factors such as brand reputation, content quality, and availability on popular streaming platforms.
Bargaining power of suppliers:
The bargaining power of suppliers in the anime market is low. This is because anime production studios have a wide range of suppliers to choose from for animation software, voice actors, and other resources. Additionally, the dominance of big production houses allows them to negotiate favorable terms with suppliers.
The threat of new substitutes:
The threat of new substitutes in the anime market is low. Anime’s unique art style, storytelling techniques, and cultural influence set it apart from other forms of entertainment. While there are alternative forms of entertainment such as live-action shows or movies, anime has a dedicated fan base that is unlikely to switch to other mediums.
Competitive rivalry:
The competitive rivalry in the anime market is high. There are numerous production studios competing for market share and vying for the attention of anime fans. Additionally, streaming platforms are also competing to acquire the rights to popular anime series, further intensifying the competition in the market.
Key Takeaways
The global anime market is expected to witness high growth, exhibiting a CAGR of 17.1% over the forecast period of 2023-2030. This growth can be attributed to the increasing popularity of anime globally, driven by factors such as growing international collaborations, rising demand for digital streaming platforms, and the expansion of social media platforms for anime promotion.
In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the anime market. This can be attributed to the strong presence of anime production houses in countries like Japan, China, and South Korea, along with the growing fan base in these regions. Furthermore, the increasing penetration of digital platforms and the availability of dubbed and subtitled versions of anime series in local languages have contributed to the market’s growth in this region.
Key players operating in the anime market include Production I.G, Inc., Studio Ghibli, Inc., Pierrot Co., Ltd., Sunrise Inc., Toei Animation Co., Ltd., BONES INC, Kyoto Animation Co., Ltd., MADHOUSE Inc., Manglobe Inc., and PAWORKS Co., Ltd. These companies have established themselves as leaders in the industry, with a strong portfolio of popular anime series and a loyal fan base. Their extensive experience and production capabilities give them a competitive edge in the market.
Overall, the anime market is poised for significant growth in the coming years, driven by global demand and the increasing accessibility of anime content through digital platforms. The presence of established players and the strong cultural influence of anime are expected to sustain the market’s growth and development.
