PUBLISHER: The Business Research Company | PRODUCT CODE: 1387954
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387954
“Non-Fiction Books Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on non-fiction books market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for non-fiction books? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The non-fiction books market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Nonfiction literature pertains to any form of writing that imparts knowledge or elucidates real-life occurrences rather than weaving a narrative.
The primary categories of nonfiction publications encompass eBooks, printed books, and audiobooks. An audiobook represents an oral rendition of an electronically published book. The diverse genres within the realm of nonfiction literature encompass religion, travel, biography, history/law/political science, business/economics, cooking/entertainment, computers, crafts/antiques/hobbies/games, performing arts, and various other subjects, which are disseminated through online retail, bookstores, and direct sales channels.
The non-fiction books market research report is one of a series of new reports from The Business Research Company that provides non-fiction books market statistics, including non-fiction books industry global market size, regional shares, competitors with a non-fiction books market share, detailed non-fiction books market segments, market trends and opportunities, and any further data you may need to thrive in the non-fiction books industry. This non-fiction books market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The non-fiction books market size has grown steadily in recent years. It will grow from $14.62 billion in 2023 to $15.1 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The expansion observed during the historical period can be ascribed to factors such as educational curriculum, biographical and memoir works, self-help and personal growth literature, cultural and societal significance, as well as research and professional development.
The non-fiction books market size is expected to see steady growth in the next few years. It will grow to $16.94 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The anticipated growth in the forecast period can be linked to factors such as diversity and inclusivity, advancements in science and technology, the focus on mental health and wellbeing, the rise of data-driven publishing, and a growing emphasis on sustainability and eco-friendly publishing practices. Significant trends in this forecast period encompass the rise of narrative non-fiction, increased political and social commentary, the incorporation of multimedia and interactive content, a surge in local and niche topic exploration, and the emergence of hybrid formats.
The growth of the non-fiction books market is expected to be driven by the adoption of online sales platforms during the forecast period. With the increasing global access to internet services, the number of digital buyers continues to rise each year. Online platforms provide significant value by facilitating communication and trade, and they come with relatively low operating costs. The onset of the COVID-19 pandemic has prompted bookstores to invest more in online sales channels, with a particular focus on books related to health knowledge to address the epidemic. These online bookstores are offering general discounts of 20% to 30%, resulting in higher sales volumes compared to traditional bookstores.
The increasing demand for specialized non-fiction content, especially in areas like health and wellness, is expected to fuel the growth of the non-fiction books market. People's growing health consciousness, their desire for self-improvement, and their focus on holistic well-being are driving the demand for non-fiction books in the health and wellness category. For example, in December 2022, WordStrated, a US-based book-related business consulting company, reported a 19.3% increase in sales of self-help books, a subcategory of health and wellness, with unit sales rising by nearly 25% compared to 2020 in the US. This surge in demand indicates a growing interest in self-help and wellness literature, with the self-help genre continuing to expand.
The increasing adoption of online entertainment sources is expected to hinder market growth during the forecast period. Authors now face competition not only from traditional radio and TV but also from a variety of new streaming services, including Netflix, Disney+, Hulu, and Amazon Prime. The Deloitte Digital Media Trends Survey, 14th edition, reveals that nearly 80% of people in the USA have subscribed to at least one paid online streaming video service. In addition, according to Media Partners Asia, online streaming services are projected to experience 12% growth in Asia, driven by brands such as Netflix and Disney+Hotstar. The surge in internet usage during the COVID-19 pandemic, with a 50% to 70% increase in usage between 2021-22, has made consumers' leisure time and budgets a competitive battleground for authors. This intense competition poses a challenge to the non-fiction books market's growth.
Print-on-demand orders present lucrative opportunities for leading market vendors, as they allow for the printing of books in response to demand, meeting the exact needs of the market. Print-on-demand offers numerous advantages, such as risk mitigation by avoiding investment in large press runs. Authors can test the demand for their book through print-on-demand, saving resources that would have been spent on press runs for essential steps like cover design and editing. Furthermore, print-on-demand aligns with environmentally friendly practices, in line with the commitment of some African governments to green technologies. For example, in August 2021, BookBaby, a leading US-based self-publishing service provider, invested in an HP Indigo 100K Digital Press to enhance its digital printing capabilities, supporting the modern print-on-demand publishing model.
In August 2022, Brookings, a US-based nonprofit public policy organization, entered into a partnership with Rowman & Littlefield, aiming to co-publish books, with Rowman & Littlefield responsible for production, distribution, sales, and marketing of Brookings Institution Press titles. Rowman & Littlefield is a US-based publisher with a wide range of book genres, including fiction, non-fiction, academic, health and fitness, and history.
In September 2021, Hachette Book Group, a US-based publishing company, acquired Workman Publishing Co., Inc. This acquisition has provided HBG with a powerful addition to its existing publishing programs and opened up new avenues for growth in various exciting directions. Workman Publishing Co., Inc. is a US-based publisher specializing in trade books and calendars.
Major companies operating in the non-fiction books market include HarperCollins Publishers LLC, Bloomsbury Publishing PLC, Scholastic Corporation, Pearson PLC, McGraw Hill LLC, Penguin Random House LLC, Hachette Livre S.A., Thomson Reuters Corporation, Elsevier B.V., Andrews McMeel Publishing LLC, The Experiment LLC, Storey Publishing LLC, Diversion Books LLC, Chronicle Books LLC, Simon & Schuster Inc., Hachette Book Group Inc., Macmillan Publishers Limited, W. W. Norton & Company Inc., Yale University Press, The University of Chicago Press, Oxford University Press, Cambridge University Press, Princeton University Press, University of California Press, Beacon Press, Basic Books Inc., Da Capo Press Inc., PublicAffairs LLC, St. Martin's Press LLC, The University of Michigan Press, University of Minnesota Press, The University of North Carolina Press, University of Pennsylvania Press, University of Texas Press, University of Virginia Press, University Press of Florida, University Press of Kansas, University Press of Kentucky, University Press of Mississippi, University Press of New England
Asia-Pacific was the largest region in the non-fiction books market in 2023. Middle East is expected to be the fastest-growing region in the non-fiction books market during the forecast period. The regions covered in the non-fiction books market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the non-fiction books market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
The non-fiction books market consists of revenues earned by entities by carrying out design, editing, and marketing activities necessary for producing and distributing non-fiction books for adults. These establishments may publish books in print, electronic, or audio form. The market value includes the value of related goods sold by the service provider or included within the service offering. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.