Anime Market to Exhibit High Growth Owing to Rising Popularity of Streaming Among Millennials

The anime market includes animated television shows, films, video games, and other products that are commonly referred to as anime. Anime features colorful visual styles with distinctive character designs and compelling storylines. Some key advantages of anime include vivid storytelling, focus on character emotions and development, suspenseful plotlines, and distinctive artistic styles. Anime attracts a wide audience ranging from children to adults with genres spanning action, comedy, drama, romance and more. Growing popularity of streaming platforms has made various anime titles easily accessible to global audiences.

The global anime market is estimated to be valued at US$ 37.31 Mn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period of 2024 to 2031.

Key Takeaways

Key players: Key players operating in the anime market include Aniplex, Toei Animation, Madhouse, Studio Ghibli, and Bones.

Growing demand: Rising popularity of streaming platforms among millennials and generation Z has boosted demand for anime globally. Easy access to a wide library of titles online has expanded the fanbase beyond traditional television viewing.

Technological advancement: Adoption of advanced animation technology has allowed creators to produce high quality visuals and special effects. This has enhanced the viewing experience for audiences and attracted more fans. Meanwhile, improved connectivity and high-speed internet has strengthened online streaming and distribution of anime worldwide.

Market Trends

Collaborations: Leading production houses are collaborating with streaming giants and Hollywood studios to co-produce and distribute new Anime Market Growth  projects globally. This allows them to tap international audiences and markets.

Fan interaction: Popular anime franchises actively engage with global fan communities through online and offline events. Successful crowdfunding campaigns also help assess fan demand and produce popular titles. This level of interaction has strengthened fan loyalty and engagement.

Market Opportunities

Live-action adaptations: Hollywood is increasingly adapting popular anime franchises into live-action movies and TV shows. This provides opportunities to introduce anime to wider international audiences.

Merchandise and consumer products: Lucrative opportunities exist in licensing anime characters and properties for merchandise, toys, apparel, games and more. This helps monetize popular franchises and engage fans on an ongoing basis.

Impact of COVID-19 on Anime Market Growth

The COVID-19 pandemic has significantly impacted the growth of the anime market. During the pre-COVID period, the market was growing at a steady rate due to increasing popularity of anime among different age groups across the globe. However, the outbreak has affected the market in both positive and negative ways. On the negative side, production houses had to suspend operations due to lockdowns and social distancing norms. This led to delays in new anime releases. Supply chain disruptions also impacted merchandise and licensing revenues for studios.

However, on the positive side, lockdowns and work from home trends increased anime viewership on various streaming platforms. People spent more time at home and turned to anime for entertainment. Streaming subscriptions saw a spike as people binge-watched existing anime catalogs. Online anime conventions and fan events also saw higher participation. Interactive watch parties became popular on social media. This surge in viewership is expected to have long-term benefits for the market. Studios are also adapting to the new normal by releasing content through digital platforms.

As lockdowns ease, the market is recovering steadily. However, studios will have to consider safety protocols for production staff. They may have to rely more on work from home models and technology for certain phases. International co-productions and licensing deals may also take longer to materialize. But overall demand for anime is expected to remain robust driven by increasing fandom worldwide. With adaptation, the market is projected to get back on the high growth trajectory in the coming years.

North America and East Asia- Concentration of Anime Market Value

A major share of the current anime market value is concentrated in North America and East Asia, specifically Japan, China and South Korea. In North America, the United States accounts for the largest revenue generation due to growing popularity of anime IPs like Demon Slayer and My Hero Academia among millennials and Gen Z. Streaming platforms have also promoted accessibility leading to wider audience base. Meanwhile, being the origin of anime art style and storytelling, Japan holds a dominant position in the global industry. It generates significant earnings from merchandise, home video and theatrical box office revenues.

East Asian countries like China and South Korea are also emerging as high potential markets. Rising purchasing power, tech-savviness of young population and cultural openness to Japanese influence are driving anime fandom in these countries. Licensing and dubbing content in local languages has boosted discoverability and viewership. Investments in co-productions are further expanding East Asia's hold. With continued economic growth and engagement of new demographics, the region is poised to be the epicenter of anime business value in the coming decade.

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About Author:

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)