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What is the current size and annual growth rate of the fiction books market?
The fiction books market size has grown steadily in recent years. It will grow from $11.16 billion in 2024 to $11.38 billion in 2025 at a compound annual growth rate (CAGR) of 2.0%. The growth in the historic period can be attributed to publishing industry growth, reader demand, literary awards and recognition, digital publishing, adaptations and media.
The fiction books market size is expected to see marginal growth in the next few years. It will grow to $12.09 billion in 2029 at a compound annual growth rate (CAGR) of 1.5%. The growth in the forecast period can be attributed to diversity and inclusivity, personalized reading recommendations, indie and self-published authors, global reach, sustainability and eco-friendly publishing. Major trends in the forecast period include genre blending, short fiction and anthologies, virtual book events, book subscription services, interactive and immersive formats.
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Which major factors have contributed to the expansion of the fiction books market?
The sales of books through online media is anticipated to drive the fiction books market during the forecast period. The increasing number of active internet users is providing companies with an opportunity to cater to a wide number of customers. For instance, according to the Association of American Publishers, a US-based trade association of the American book publishing industry, for the first time this year, digital book sales in the US in August 2022 increased by 2.7%. Over $90.7 million was generated by e-book sales. The preference of individuals to buy books online is primarily due to the broad choice, cost savings due to offers and discounts, and convenience of buying anytime and from any location. Therefore, online shopping of books is boosting the fiction book market.
How is the fiction books market segmented?
The fiction books market covered in this report is segmented –
1) By Type Of Fiction: Short Story, Novella, Novel
2) By Type Of Book: Physical Book, E- Book, Audio Book
3) By Genre: Action And Adventure, Young Adult, Crime Or Mystery, Drama, Horror Or Paranormal Or Ghost, Science Fiction, Other Genres
4) By End-User: Children, Young Adults, Adults
Subsegments:
1) By Short Story: Literary Fiction, Genre Fiction (Science Fiction, Fantasy, Horror), Flash Fiction, Anthology (Collections Of Short Stories)
2) By Novella: Literary Novella, Genre Novella (Thriller, Mystery, Romance, Science Fiction)
3) By Novel: Literary Novel, Genre Novel (Mystery, Thriller, Romance, Historical Fiction, Science Fiction, Fantasy), Graphic Novel, Young Adult (YA) Novel, Children’s Novel, Adult Fiction
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Who are the top competitors in the fiction books market?
Major companies operating in the fiction books market include Penguin Random House LLC, Hachette Livre, HarperCollins Publishers LLC, Macmillan Publishers, Simon & Schuster Inc., Turner Publishing Company, Chronicle Books LLC, Coffee House Press Inc., Scholastic Corporation, Bloomsbury Publishing plc, Egmont Group, Candlewick Press Inc., Nosy Crow Ltd., Chicken House Ltd., Usborne Publishing Ltd., Walker Books Ltd., Abrams Books Inc., Sourcebooks Inc., Harlequin Enterprises Limited, Kensington Publishing Corp., Entangled Publishing LLC, Bold Strokes Books Inc., Bella Books Inc., Dreamspinner Press LLC, Carina Press, Riptide Publishing, Less Than Three Press LLC, Little Brown and Company, Tor Books, Orbit, Ace Books, DAW Books, Baen Books, Angry Robot, Night Shade Books, Pyr, Subterranean Press LLC
Which key trends are expected to influence the fiction books market in the coming years?
Major companies operating in the fiction book market are focused on developing artificial intelligence (AI) to gain a competitive edge in the market. AI-narrated books offer a unique literary experience, blending human creativity with machine precision. For instance, in January 2023, Apple Inc., a US-based technology company, launched a new catalog of books narrated by artificial intelligence (AI) on its Books app. The narrations created using artificial intelligence are characterized as being voiced by a digital entity modeled after a human narrator. This development is anticipated to lower the expenses and intricacies associated with audiobook production for authors and publishers. It holds the potential to bring about substantial changes within the audiobook industry. Presently, AI-driven narrations are accessible for a restricted range of genres, encompassing fiction and romance.
Which regional trends are influencing the fiction books market, and which area dominates the industry?
Asia-Pacific was the largest region in the fiction books market in 2023. Middle East is expected to be the fastest-growing region in the fiction books market during the forecast period. The regions covered in the fiction books market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Does The Fiction Books Market Report 2025 Offer?
The fiction books market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Fiction books refer to literary works created from the author’s imagination, rather than based purely on factual events. They encompass various genres, featuring invented characters, settings, and plots. Through storytelling, fiction books entertain, provoke thought, and explore the complexities of the human experience, allowing readers to engage with diverse worlds and perspectives.
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