New York, March 08, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces Release of “Non-Fiction Books Global Market Report 2022” – https://www.reportlinker.com/p06243793/?utm_source=GNW
The global non-fiction book 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 companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $16.61 billion in 2026 with a CAGR of 4.3%.
The non-fiction book market includes revenue generated by entities (organizations, sole proprietorships, or partnerships) that conduct design, publishing, and marketing activities necessary for the production and distribution of non-fiction books for adults. Non-fiction is a depiction of a subject that is presented as fact.
These institutions may publish books in print, electronic or audio form. Only goods and services exchanged between entities or sold to final consumers are included.
The main types of non-fiction books are e-books, print books, and audio books. An audio book is a spoken version of a book that has been published in electronic form.
The different categories of non-fiction books include religion, travel, biographies, history/law/political science, business/economics, cooking/entertainment, computers, crafts/ antiques/hobby/games, performing arts and others that are distributed online. sales, bookstores and direct sales channel.
Asia-Pacific was the largest non-fiction book market region in 2021. Middle East is expected to be the fastest growing region during the forecast period.
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 shopping platform is expected to propel the market growth over the forecast period. With the increasing adoption and access to Internet services around the world, the number of digital buyers keeps increasing every year.
Online platforms create significant value by enabling communication and commerce. Moreover, these online platforms have modest operating costs.
Bookstores are investing more in online sales channels with the outbreak of the coronavirus and the people left indoors. Online bookstores have also set up an exhibition space for health knowledge books targeting the epidemic, with a general discount of 20% to 30%.
Therefore, the volume of books sold in online bookstores is higher than that of traditional bookstores.
Rising adoption of online entertainment sources is expected to hamper the market growth over the forecast period. , and Amazon Prime.
According to Media Partners Asia, online streaming services are expected to grow by 12% in Asia. by brands such as Netflix, Disney+Hotstar, etc.
In 2020, internet usage jumped 50-70% due to Covid-19, according to preliminary statistics. Authors compete for the limited budgets and hobbies of consumers.
Therefore, the increase in online entertainment sources is creating fierce competition in the book market, thereby retarding the growth of the non-fiction book market.
Print on demand orders will create lucrative opportunities for the major vendors operating in the market as it helps to print books that are in demand and meet the exact needs of the market. Print-on-demand offers many market benefits and remains an important option that overcomes the investment risk on a large print run by allowing authors to offer a printed book.
The demand for the idea/book is tested using the print-on-demand option and also the investment that could have gone into a print run for other crucial stages such as the design of the Coverage and editing is saved, reducing inventory management costs. African government is committed to using green technologies and innovative solutions to help protect our planet and print on demand is one of them.
In August 2021, BookBaby, a leading US-based self-publishing service provider, is expanding production with a new investment in an HP Indigo 100K digital press, delivering more digital printing power to accelerate its growth in the publishing market. HP Indigo digital presses have enabled individuals and small publishers to print unique books efficiently, supporting the modern print-on-demand publishing model.
In September 2021, Hachette Book Group, a United States-based publishing 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 new avenues of growth in exciting directions for HBG. Workman Publishing Co., Inc is an American publisher of books and calendars.
The countries covered by the non-fiction books market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and the United States.
Read the full report: https://www.reportlinker.com/p06243793/?utm_source=GNW
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