ICT-IOT

Anime Market is Expected to Reach USD 56.93 Billion by 2031

Jun 2024

ICT-IOT

As per the report published by Kings Research, the global Anime Market was valued at USD 29.34 billion in 2023 and is projected to reach USD 56.93 billion by 2031, growing at a CAGR of 8.64% from 2024 to 2031.

The anime market is witnessing significant growth due to ongoing technological advancements and innovation, which are shaping the landscape of animated entertainment. One prominent trend driving market expansion is the widespread adoption of Virtual Reality (VR) and Augmented Reality (AR) technologies. Anime studios are exploring immersive experiences through VR and AR, offering fans new ways to interact with their favorite characters and stories. Additionally, collaborations and cross-media ventures are transforming the anime industry.

Collaborations between anime studios, video game developers, and manga creators are fueling the creation of interconnected storylines and engaging experiences across different platforms. Furthermore, global collaborations are on the rise, with anime studios partnering with overseas producers and studios to create original content that resonates with global audiences. These trends showcase the dynamic nature of the anime market, fueled by technological innovation, cross-industry partnerships, and a commitment to delivering captivating and engaging content to fans worldwide.

Key Insights

  • Based on type, the merchandising segment accounted for the largest market share of 27.37% in 2023
  • On the basis of region, North America accounted for the highest market share of 23.00% in 2031

Toei Animation and Strata Co. Partnered to Launch DenDekaDen to Redefine Web 3.0

February 2023: Toei Animation Co., Ltd. announced a collaborative project named DenDekaDen in partnership with Strata Co., Ltd. This initiative aimed to leverage technology to enhance creativity. As part of this project, Toei introduced a fresh lineup of characters designed to propel the evolution of Web 3.0. The project developed from a shared aspiration to establish a new franchise with global appeal.

Growing Popularity of Streaming Platforms to Augment Anime Market Expansion

The global anime market is experiencing substantial growth, primarily fueled by the increasing popularity of streaming platforms. Over-the-top (OTT) platforms such as Amazon Prime and Netflix, along with online video sites such as YouTube, play a crucial role in fueling market expansion by providing widespread access to anime content. Streaming platforms across the globe offer viewers convenient and seamless access to a wide variety of anime shows and movies.

The user-friendly interface and robust search functionalities make it easy for anime enthusiasts to discover and explore their favorite content. Moreover, the availability of anime on popular streaming services enhances the visibility and accessibility of Japanese animation to a broader audience. This increased exposure of anime content is expected to propel market growth.

Collaboration Between Key Players to Present Lucrative Growth Opportunities

The globalization of anime presents a promising opportunity for the growth of the market. Advancements in technology and the widespread availability of streaming platforms are facilitating easy access to anime content for fans around the world. This accessibility is generating an international community of enthusiasts for Japanese animation. Moreover, the growing popularity of Japanese pop culture on a global scale is fueling the expansion of anime beyond its traditional market.

Anime's success in Western markets is leading to collaborations between Japanese and Western animation studios, resulting in innovative co-productions such as Avatar: The Last Airbender and RWBY. These collaborations showcase the growing demand for anime across various cultures, thus contributing to the expansion of the market.

North America to Emerge as the Fastest-Growing Region, Exhibiting 9.2% CAGR Between 2024 and 2031

Based on region, the global anime market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America. The North American market presents lucrative opportunities for anime merchandise and licensing, with a growing demand for toys, apparel, video games, and collectibles tailored specifically for anime enthusiasts.

Anime's influence extends beyond entertainment, notably impacting Western animation and media, with creators often drawing inspiration from its unique art style and storytelling techniques. Digital streaming platforms such as Crunchyroll, Funimation, Netflix, and Hulu are playing a critical role in anime's accessibility, offering extensive options of titles for viewers to discover and enjoy conveniently. Efforts in localization, including dubbing and subtitling, further facilitated audience engagement by making anime relatable to English-speaking viewers.

Companies Focus on Launching Cutting-Edge Products to Expand Their Market Reach

The global anime market reveals a fragmented landscape, featuring prominent companies including Kyoto Animation Co., Ltd, Pierrot Co., Ltd, Production I.G, Studio Ghibli, Inc., Sunrise, Inc. (Bandai Namco Filmworks), Crunchyroll (Sony Pictures Entertainment Inc.), Good Smile Company, Inc, TOEI ANIMATION Co., Ltd, Sentai Holdings, LLC (AMC Networks), VIZ Media, LLC, and others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their global business footprint and enhance their competitive position.

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