Summary
Major players in the non-fiction books market are HarperCollins, Bloomsbury, Scholastic, Pearson, McGraw-Hill Publications, Penguin Random House, Hachette Livre, Thomas Reuters, and Elsiever.
The global non-fiction books market is expected to grow from $24.27 billion in 2020 to $26.81 billion in 2021 at a compound annual growth rate (CAGR) of 10.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $35.65 billion in 2025 at a CAGR of 7.4%.
The non-fiction books market consists of revenues generated by entities (organizations, sole traders, or partnerships) that carry out design, editing, and marketing activities necessary for producing and distributing non-fiction books for adults.Nonfiction is a representation of a subject which is presented as fact.
These establishments may publish books in print, electronic, or audio form. Only goods and services traded between entities or sold to end consumers are included.
Print-on-demand orders will create lucrative opportunities for leading vendors operating in the market as this helps in printing books which are of demand and that meets the exact needs of the market.Print-on-demand offers many advantages to the market and remains as an important option that overcomes risking investment over a big press run by allowing authors to offer a print book.
The demand for the idea/book is tested using the print-on-demand option and also the investment that could have been spent on a press run for other crucial steps like cover design and editing is saved thereby saving costs of inventory management.African government is committed to using green technologies and innovative solutions to help protect our planet and print-on-demand is one among them.
In October 2018, self-publishing service Draft2Digital announced the launch of their new print-on-demand service, D2D Print that makes it easier for authors to expand their catalogs to include paperback books with just a few clicks.
The non-fiction books market covered in this report is segmented by type into ebook; printed book; audio book and by category into religion; travel; biography; history/law/political science; business/economics; cooking/entertainment; computers; crafts/antiques/hobbies/games; performing arts; others by distribution channel into online sales; bookstores; direct sales.
Increasing adoption of online entertainment sources is expected to hinder the market growth during the forecast period.With the proliferation of online entertainment sources, authors compete with not only radio and TV, but a range of new streaming services beyond just Netflix, including Disney+, Hulu, and Amazon Prime.
The Digital media trends survey, 14th edition by Deloitte states that nearly 80% of people in the USA have subscribed to at least one paid online streaming video service.According to Media Partners Asia, online streaming services are likely to see 12% growth in Asia by brands such as Netflix, Disney+Hotstar, and more.
In 2020, internet usage has surged by between 50% and 70% due to Covid-19, according to preliminary statistics.Authors compete for the limited budgets and leisure time of consumers.
Therefore, the rise in online entertainment sources poses stiff competition over the books market thus retarding the growth of the non-fiction books market.
In September 2018, Kaplan Test Prep, a US-based premier provider of educational and career services for individuals, schools and businesses acquired Barron’s-Branded Test Prep for an undisclosed amount.Under this acquisition Barron’s portfolio is expected to benefit from Kaplan’s digital and product development expertise, state-of-the-art content and learning management system, and distribution arrangements across the globe.
Barron’s Educational Series, a US-based publisher of children’s books is also into various other fields such as foreign language learning guides with downloadable audio, pet care manuals, gift books, cookbooks, colouring and adult activity books, business and financial advice guides, parenting advice books, and art instruction books with companion online videos, in addition to learning materials on MP3, Apps, and Bonus Online Content.
Adoption of online sales platform is expected to propel the market growth during the forecast period. With the increasing adoption and access to internet services globally, the number of digital buyers keeps increasing every year. Online platforms create significant value by enabling communication and trade. Besides, these online platforms have modest operating costs. Bookstores are investing more on online sales channels with the onset of coronavirus and people staying indoors. Online bookstores have also set up a display area of books about health knowledge targeting the epidemic, with a general discount of 20% to 30%. Therefore, the volume of books being sold through online bookstores is higher than traditional bookstores.
