Global High-yield Bonds Market Size study & Forecast, by Currency, Term, Issuer Type, Yield to Maturity, Rating and Regional Forecasts 2025-2035

Description

The Global High-yield Bonds Market is valued at approximately USD 5981 billion in 2024 and is poised to expand at a steady CAGR of 3.80% over the forecast period 2025-2035. High-yield bonds, often referred to as junk bonds, represent debt securities that carry higher credit risk in exchange for greater yields. These instruments, typically rated below investment grade, have become increasingly sought-after by investors looking to secure higher returns amid a low-interest rate environment and ongoing inflationary concerns. The rising appetite for risk-adjusted yields, coupled with economic resilience in key markets, continues to shape demand across both institutional and retail investor segments. As global financial ecosystems evolve, high-yield bonds are being factored into more diversified portfolios, underpinned by data-driven risk strategies and favorable monetary policies.

The steady growth of the high-yield bond market is largely attributable to mounting corporate financing needs and favorable market liquidity. With many businesses aiming to restructure or expand operations post-pandemic, bond issuance-particularly among mid-tier firms and emerging market entities-has spiked. For example, companies in sectors such as telecom, energy, and consumer services have strategically leveraged high-yield instruments to capitalize on investor demand. According to Moody's and Fitch, issuance volumes surged in 2023, driven by the need to refinance existing debt at relatively favorable yields. Simultaneously, rising geopolitical tensions and macroeconomic uncertainties are nudging investors to reevaluate portfolio compositions, steering focus toward structured, high-return instruments like these. However, credit downgrades and the risk of defaults, particularly amid fluctuating interest rate cycles, could pose notable headwinds.

Regionally, North America continues to dominate the high-yield bond landscape, powered by its deep capital markets, sophisticated investment mechanisms, and robust regulatory framework. The U.S. remains the epicenter of bond activity, with financial institutions and hedge funds actively trading across both primary and secondary markets. In Europe, economic recovery, coupled with the European Central Bank's supportive policy stance, has enabled modest yet stable bond issuances. Meanwhile, Asia Pacific is emerging as a vibrant frontier, especially in nations like China, India, and South Korea, where rapid industrialization and increased private-sector participation are fueling new debt instruments. Additionally, regulatory modernization and maturing bond markets across LATAM and MENA are expected to unlock latent investor interest in those regions over the coming decade.

Major market player included in this report are:

Morgan Stanley
JPMorgan Chase & Co.
Barclays PLC
Credit Suisse Group AG
Citigroup Inc.
HSBC Holdings plc
BNP Paribas S.A.
Deutsche Bank AG
Wells Fargo & Company
Goldman Sachs Group Inc.
UBS Group AG
Bank of America Corporation
Nomura Holdings Inc.
Societe Generale S.A.
Mitsubishi UFJ Financial Group, Inc.

Global High-yield Bonds Market Report Scope:

Historical Data - 2023, 2024
Base Year for Estimation - 2024
Forecast period - 2025-2035
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

By Currency:

By Term:

Less than 1 year
1 to 5 years
5 to 10 years
10 years or more

By Issuer Type:

Corporate
Financial Institutions
Government
Sovereign

By Yield to Maturity:

Less than 5%
5% to 8%
8% to 10%
10% or more

By Rating:

BB+
BB-
B+
B-
CCC+

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

Key Takeaways:

Market Estimates & Forecast for 10 years from 2025 to 2035.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global High-yield Bonds Market Report Scope & Methodology

1.1. Research Objective
1.2. Research Methodology
- 1.2.1. Forecast Model
- 1.2.2. Desk Research
- 1.2.3. Top Down and Bottom-Up Approach
1.3. Research Attributes
1.4. Scope of the Study
- 1.4.1. Market Definition
- 1.4.2. Market Segmentation
1.5. Research Assumption
- 1.5.1. Inclusion & Exclusion
- 1.5.2. Limitations
- 1.5.3. Years Considered for the Study

Chapter 2. Executive Summary

2.1. CEO/CXO Standpoint
2.2. Strategic Insights
2.3. ESG Analysis
2.4. Key Findings

Chapter 3. Global High-yield Bonds Market Forces Analysis

3.1. Market Forces Shaping The Global High-yield Bonds Market (2024-2035)
3.2. Drivers
- 3.2.1. Corporate Financing Needs and Refinancing Demand
- 3.2.2. Market Liquidity and Investor Risk Appetite
3.3. Restraints
- 3.3.1. Credit Downgrades and Default Risk
- 3.3.2. Interest Rate Volatility and Economic Uncertainty
3.4. Opportunities
- 3.4.1. Expansion in Emerging Markets (APAC, LATAM, MENA)
- 3.4.2. Regulatory Modernization and Financial Innovation

Chapter 4. Global High-yield Bonds Industry Analysis

4.1. Porter's 5 Forces Model
- 4.1.1. Bargaining Power of Buyer
- 4.1.2. Bargaining Power of Supplier
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Forecast Model (2024-2035)
4.3. PESTEL Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top Investment Opportunities
4.5. Top Winning Strategies (2025)
4.6. Market Share Analysis (2024-2025)
4.7. Global Pricing Analysis and Trends 2025
4.8. Analyst Recommendation & Conclusion

Chapter 5. Global High-yield Bonds Market Size & Forecasts by Currency 2025-2035

5.1. Market Overview
5.2. Global Market Performance - Potential Analysis (2025)
5.3. USD
- 5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.3.2. Market Size Analysis, by Region, 2025-2035
5.4. EUR
- 5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.4.2. Market Size Analysis, by Region, 2025-2035
5.5. GBP
- 5.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.5.2. Market Size Analysis, by Region, 2025-2035
5.6. JPY
- 5.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.6.2. Market Size Analysis, by Region, 2025-2035
5.7. CNY
- 5.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.7.2. Market Size Analysis, by Region, 2025-2035

Chapter 6. Global High-yield Bonds Market Size & Forecasts by Term 2025-2035

6.1. Market Overview
6.2. Global Market Performance - Potential Analysis (2025)
6.3. Less than 1 year
- 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.3.2. Market Size Analysis, by Region, 2025-2035
6.4. 1 to 5 years
- 6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.4.2. Market Size Analysis, by Region, 2025-2035
6.5. 5 to 10 years
- 6.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.5.2. Market Size Analysis, by Region, 2025-2035
6.6. 10 years or more
- 6.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.6.2. Market Size Analysis, by Region, 2025-2035

Chapter 7. Global High-yield Bonds Market Size & Forecasts by Region 2025-2035

7.1. High-yield Bonds Market, Regional Market Snapshot
7.2. Top Leading & Emerging Countries
7.3. North America High-yield Bonds Market
- 7.3.1. U.S. High-yield Bonds Market
  - 7.3.1.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.3.1.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.3.1.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.3.1.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.3.1.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.3.2. Canada High-yield Bonds Market
  - 7.3.2.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.3.2.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.3.2.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.3.2.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.3.2.5. Rating Breakdown Size & Forecasts, 2025-2035
7.4. Europe High-yield Bonds Market
- 7.4.1. UK High-yield Bonds Market
  - 7.4.1.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.4.1.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.4.1.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.1.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.4.1.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.4.2. Germany High-yield Bonds Market
  - 7.4.2.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.4.2.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.4.2.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.2.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.4.2.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.4.3. France High-yield Bonds Market
  - 7.4.3.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.4.3.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.4.3.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.3.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.4.3.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.4.4. Spain High-yield Bonds Market
  - 7.4.4.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.4.4.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.4.4.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.4.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.4.4.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.4.5. Italy High-yield Bonds Market
  - 7.4.5.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.4.5.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.4.5.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.5.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.4.5.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.4.6. Rest of Europe High-yield Bonds Market
  - 7.4.6.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.4.6.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.4.6.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.6.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.4.6.5. Rating Breakdown Size & Forecasts, 2025-2035
7.5. Asia Pacific High-yield Bonds Market
- 7.5.1. China High-yield Bonds Market
  - 7.5.1.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.5.1.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.5.1.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.1.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.5.1.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.5.2. India High-yield Bonds Market
  - 7.5.2.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.5.2.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.5.2.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.2.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.5.2.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.5.3. Japan High-yield Bonds Market
  - 7.5.3.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.5.3.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.5.3.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.3.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.5.3.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.5.4. Australia High-yield Bonds Market
  - 7.5.4.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.5.4.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.5.4.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.4.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.5.4.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.5.5. South Korea High-yield Bonds Market
  - 7.5.5.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.5.5.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.5.5.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.5.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.5.5.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.5.6. Rest of Asia Pacific High-yield Bonds Market
  - 7.5.6.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.5.6.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.5.6.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.6.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.5.6.5. Rating Breakdown Size & Forecasts, 2025-2035
7.6. Latin America High-yield Bonds Market
- 7.6.1. Brazil High-yield Bonds Market
  - 7.6.1.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.6.1.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.6.1.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.6.1.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.6.1.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.6.2. Mexico High-yield Bonds Market
  - 7.6.2.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.6.2.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.6.2.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.6.2.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.6.2.5. Rating Breakdown Size & Forecasts, 2025-2035
7.7. Middle East & Africa High-yield Bonds Market
- 7.7.1. UAE High-yield Bonds Market
  - 7.7.1.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.7.1.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.7.1.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.7.1.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.7.1.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.7.2. Saudi Arabia High-yield Bonds Market
  - 7.7.2.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.7.2.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.7.2.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.7.2.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.7.2.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.7.3. South Africa High-yield Bonds Market
  - 7.7.3.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.7.3.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.7.3.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.7.3.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.7.3.5. Rating Breakdown Size & Forecasts, 2025-2035
- 7.7.4. Rest of Middle East & Africa High-yield Bonds Market
  - 7.7.4.1. Currency Breakdown Size & Forecasts, 2025-2035
  - 7.7.4.2. Term Breakdown Size & Forecasts, 2025-2035
  - 7.7.4.3. Issuer Type Breakdown Size & Forecasts, 2025-2035
  - 7.7.4.4. Yield to Maturity Breakdown Size & Forecasts, 2025-2035
  - 7.7.4.5. Rating Breakdown Size & Forecasts, 2025-2035

Chapter 8. Competitive Intelligence

8.1. Top Market Strategies
8.2. Morgan Stanley
- 8.2.1. Company Overview
- 8.2.2. Key Executives
- 8.2.3. Company Snapshot
- 8.2.4. Financial Performance (Subject to Data Availability)
- 8.2.5. Product/Services Port
- 8.2.6. Recent Development
- 8.2.7. Market Strategies
- 8.2.8. SWOT Analysis
8.3. JPMorgan Chase & Co.
8.4. Barclays PLC
8.5. Credit Suisse Group AG
8.6. Citigroup Inc.
8.7. HSBC Holdings plc
8.8. BNP Paribas S.A.
8.9. Deutsche Bank AG
8.10. Wells Fargo & Company
8.11. Goldman Sachs Group Inc.
8.12. UBS Group AG
8.13. Bank of America Corporation
8.14. Nomura Holdings Inc.
8.15. Societe Generale S.A.
8.16. Mitsubishi UFJ Financial Group, Inc.