by The 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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The anime market comprises production houses engaged in developing anime content across various genres and formats. Key genres include action, comedy, drama, and fantasy among others. Anime content finds widespread application in television programming, film releases, online streaming, and merchandising.
Market Dynamics:
Rising popularity of anime streaming platforms is a major driver for market growth. Prominent players such as Netflix, Amazon Prime Video, Funimation, and Crunchyroll are investing heavily in licensing and producing original anime content to cater to the growing demand. Additionally, improving representation of diverse cultures and stories in anime productions is also fueling the market expansion. For instance, productions such as “Demon Slayer”, “Jujutsu Kaisen”, and “My Hero Academia” have explored Japanese culture and traditions through fantasy themes, finding resonance with global audiences.
Market key trends:
The anime market has been witnessing rising popularity of streaming platforms across the globe. Major players in the market like Netflix, Amazon Prime, Crunchyroll etc have expanded their anime library with new and back catalogue titles. This has increased the accessibility of anime content globally. Additionally, emergence of new genres like isekai and slice of life have also expanded the fanbase beyond the core demographic. Rising fandom of manga and light novels has further boosted the demand for anime adaptations. 3D CGI animation is also being increasingly used along with traditional 2D animation to enhance the visual experience.
SWOT Analysis
Strength: Large fan following and popular franchises like Demon Slayer, Jujutsu Kaisen etc act as strong brands. Growing globalization of the anime culture.
Weakness: Heavy reliance on limited number of popular manga/light novel adaptations. Production cost of high quality animation.
Opportunity: Scope for more original storytelling and exploring other genres. regional expansion into non-traditional markets like Middle East and Africa.
Threats: Growth of user generated anime content on social media platforms. Piracy reducingmonetizationpotential for streaming platforms and producers.
Key Takeaways
The Global Anime Market Size is expected to witness high growth, exhibiting CAGR of 17.1% over the forecast period 2023 to 2030, due to increasing popularity of streaming platforms across the world. The market was valued at US$ 27.65 Billion in 2022.
On the basis of region, North America currently dominates the anime market owing to strong fanbase and large subscriber base of streaming services in countries like US. However, Asia Pacific is expected to emerge as the fastest growing market led by countries like China, India and Southeast Asia with rising young population and increasing internet and smartphone penetration driving the consumption of online anime content.
Key players operating in the anime market are 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. Major players are focusing on developing high quality original content and expanding partnerships with streaming platforms and distributors to increase their global footprint.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
