{"id":599224,"date":"2022-05-10T06:04:01","date_gmt":"2022-05-10T06:04:01","guid":{"rendered":"https:\/\/www.abnewswire.com\/pressreleases\/?p=599224"},"modified":"2022-05-10T06:04:01","modified_gmt":"2022-05-10T06:04:01","slug":"books-market-is-expected-to-reach-1593-billion-by-2028-based-on-easy-accessibility-of-paperback-copies-for-differentlyabled-and-nonenglish-speaking-groups-grand-view-research-inc","status":"publish","type":"post","link":"https:\/\/www.abnewswire.com\/pressreleases\/books-market-is-expected-to-reach-1593-billion-by-2028-based-on-easy-accessibility-of-paperback-copies-for-differentlyabled-and-nonenglish-speaking-groups-grand-view-research-inc_599224.html","title":{"rendered":"Books Market Is Expected To Reach $159.3 Billion By 2028 Based On Easy Accessibility of Paperback Copies For Differently-Abled And Non-English Speaking Groups | Grand View Research, Inc."},"content":{"rendered":"
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\"Books<\/a><\/div>\n
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\u201cGrand View Research, Inc. \u2013 Market Research And Consulting.\u201d<\/div>\n<\/div>\n<\/div>\n
According to a new report published by Grand View Research, the new adult genre has taken a foothold in the books industry and is expected to further growth in the years to come.<\/div>\n

Books Industry Overview<\/strong><\/p>\n

The global books market size was valued at USD 132.1 billion in 2020 and is anticipated to reach USD 159.3 billion by 2028, expecting to expand at a compound annual growth rate (CAGR) of 2.4% during forecast period. <\/p>\n

Technological innovations in the industry, with the advent of audio- and video-based e-books, are attracting consumers across regions. Easy accessibility of paperback copies for differently-abled and non-English speaking groups are some of the key factors driving the market growth.<\/p>\n

Gather more insights about the market drivers, restrains and growth of the<\/strong> Global Books Market<\/strong><\/a><\/p>\n

The publishing landscape is always evolving with the emergence of newer categories that are gaining consumers’ attention. The new adult genre has taken a foothold in the industry and is expected to further grow in the years to come. As the popularity of novels and short stories is waning, another genre has gained traction, more than making up for the decline in fiction book sales. According to Penguin Random House, revenue from non-fiction titles soared by nearly 30% in 2017, over the preceding five years. Furthermore, poetry reading gained popularity among U.S. adults, increasing by 76% from 2012 to 2017.<\/p>\n

Rising consumer spending, coupled with an increased focus on self-development, drives the market for books. Nowadays, consumers are more likely to spend on hobbies they like to pursue and their areas of interest. Moreover, higher importance is being given to leisure activities, resulting in an increased number of readers. This has led to greater momentum in the market. With a surge in purchasing power, consumers are more willing to spend on various products and services in line with their hobbies and interests.<\/p>\n

\"North<\/p>\n

The impact of COVID-19 on different industries has varied widely. However, book publishers, on the whole, have performed well in 2020, escaping many of the COVID-inflicted disruptions faced by several other sectors. According to a research study by Springer Nature Switzerland AG, in February 2021, overall retail sales of books changed only slightly in 2020; however, there were huge swings month-to-month. April sales were down by 14.7% from March but were followed by an 18.3% jump in May. November retail sales dropped by 1.1% from October but were up by 4.1% from November 2019. Furthermore, trade sales in 2020 were almost uniformly ahead of 2019, and in several categories, unit sales were up over 20% through mid-December.<\/p>\n

Books have witnessed enormous changes throughout their history. From papyrus scrolls to the introduction of e-books with the advent of digital media and new technologies, the market for books has adapted itself into various forms such as e-books and audiobooks<\/strong><\/a>. Thus, since reading moved to screens, it has widened the scope of opportunities for publishers as well as readers in the market.<\/p>\n

Books Market Segmentation<\/strong><\/p>\n

Based on the Type Insights, the market is segmented into science, historical, mystery, fantasy, literary, contemporary\/realistic, romance, educational, comic and others (classic, biographies).<\/strong><\/p>\n