July 23, 2024
Anime Market

The Global Anime Market Is Driven By Increasing Popularity Of Anime Movies And Shows

The anime industry has witnessed considerable growth over the past decade owing to rising popularity of anime movies and television shows worldwide. Anime refers to hand-drawn and computer animation originating from Japan. Some of the most popular anime genres include action, adventure, comedy, drama, and romance. Anime movies and series feature intriguing storylines, visually stunning graphics, and lovable characters that appeal to audiences of all demographics globally. Their availability on streaming platforms and television networks has enhanced their accessibility. Some renowned anime franchises including Demon Slayer, Attack on Titan, Jujutsu Kaisen, My Hero Academia, and Naruto have gained a massive fan following internationally. The global popularity of anime conventions has further augmented the fanbase.

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 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends

One of the key trends driving the anime market growth is the increasing number of anime streaming platforms. Major streaming services including Netflix, Amazon Prime Video, Crunchyroll, Funimation, and Hulu among others have recognized the massive popularity of anime globally and are investing heavily in acquiring licensing rights for various popular anime franchises. These platforms are helping make a wide variety of anime accessible to international audiences. Their dubbed and subtitled versions in different languages are aiding the massive expansion of anime fanbase worldwide. The availability of anime across streaming platforms has augmented their consumption and popularity substantially over the recent past.

Porter’s Analysis

Threat of new entrants: The anime market requires high investments in content creation and distribution networks. Established players have strong brand recognition which acts as a barrier for new entrants.
Bargaining power of buyers: Individual buyers have low bargaining power due to the availability of a large variety of content from different studios and platforms. However, large streaming platforms can negotiate better rates from studios.
Bargaining power of suppliers: Major animation studios have significant bargaining power over platforms due to their strong brands and ownership of popular titles. Smaller studios have relatively less bargaining power.
Threat of new substitutes: There is a low threat of substitutes as anime has developed a loyal fan base. However, other forms of entertainment like movies, TV shows, games, comics etc. compete for consumer time and spending.
Competitive rivalry: The anime market is highly competitive with many global studios and platforms competing for consumers and content. Players differentiate through exclusive titles and value-added services.

Key Takeaways

The global Anime Market Demand is expected to witness high growth over the forecast period driven by increasing popularity of the genre around the world.

The Asia Pacific region currently dominates the anime market led by Japan and China. Major studios in Japan such as Toei Animation, Studio Ghibli and Bones produce popular titles that are streamed globally on platforms.

Key players operating in the anime market are Aggreko PLC, United Rentals, Inc., APR Energy, PLC, Caterpillar, Inc., Cummins, Inc., Hertz Equipment Rental Corporation, Generac Power Systems, and Rental Solutions & Services, LLC. The regional analysis comprises The increasing adoption of streaming platforms in major Asian markets like China and India is driving the demand for localized content. Countries like US and key markets in Western Europe are also contributing to growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it