The global 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 refers to productions of hand-drawn and computer animation originating from Japan. Some of the most popular anime genres include mecha, magical girl, sci-fi, sports, thriller and romance. Anime provides entertainment through vivid storytelling and visually stunning animation. It has gained widespread popularity globally due to accessibility on streaming platforms. The anime production houses upgrade their technology and animation techniques to provide richer experiences to viewers.
Market key trends:
Anime viewership has grown multi-fold over the past few years due to increasing affinity of global millennials and Gen Z towards anime content and culture. Wide availability of anime titles on streaming platforms like Netflix, Hulu, Amazon Prime etc has expanded the appeal of anime worldwide. Streaming services are investing heavily in exclusive anime content deals and global franchises to engage and monetize large subscriber bases. Rapid growth of fan-based communities on social media is also promoting anime fandoms outside of Japan. Emergence of virtual YouTubers and streamers influenced by anime aesthetics has further boosted the popularity of anime globally.
Porter’s Analysis
Threat of new entrants: The anime industry requires huge investments to establish production facilities, equipment and train artists. This poses a high barrier for new companies.
Bargaining power of buyers: Individual buyers have low bargaining power as they cannot influence prices set by large production houses and streaming platforms.
Bargaining power of suppliers: Top animation studios have considerable bargaining power over streaming platforms and production houses due to their specialized talents and resources.
Threat of new substitutes: While other forms of entertainment provide competition, anime remains highly distinct due to its unique Japanese style and stories. No strong substitutes exist.
Competitive rivalry: The industry has many strong and well-established players contributing to intense competition. Production houses face pressure to regularly launch new hit titles and franchises.
Key Takeaways
The Global Anime Market Size is expected to witness high growth, exhibiting CAGR of 17.1% over the forecast period, due to increasing popularity of anime titles worldwide. Younger audiences are heavily driving new subscriptions to streaming services.
Regionally, the Asia Pacific region currently dominates the anime market, accounting for the largest revenue share in 2022. Countries like Japan and China have established animation industries and fan follower. However, North America is expected to witness the fastest growth through 2030 on the back of growing fanbase in the US attracted by diverse library on streaming platforms.
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. Production houses face competitive pressure to regularly launch successful new franchises and titles in order to retain subscriber base. Innovation is key for sustaining leadership.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it