According to the Market Statsville Group (MSG), the global children’s publishing market size is expected to grow from USD 7,295.27 million in 2022 to USD 10,995.42 million by 2033, growing at a CAGR of 3.8% from 2023 to 2033. Retail store growth will be critical for the offline segment to maintain its market position. In addition, the worldwide children's publishing market considers aspects such as a decrease in child mortality, a thriving publishing business, and the growing advantages of instilling reading habits at a young age. The rising demand for children's books across all age groups and geographies is driving market growth. On the other hand, the government may not have the resources to give free education to all, owing to a vast, untaxed shadow sector and the tax base is tiny, or because tax administration and collection are poor. This has hindered market growth over the forecasting period around the world. Moreover, adoption and implementation of e-book child publishing that can be interlinked with connected and smart devices to ascertain the strength of advanced learning methodologies has driven the market growth and create opportunities over the forecasting period.
Additional developments in the publication of children's books have occurred in recent decades. The market for children’s literature has been affected by demand from parents, youngsters with growing buying power, and a growth of serial writing to enhance sales. Furthermore, changes in the content of children's books about gender, diversity, and socioeconomic class have occurred. While the impact on children’s literature owing to cultural factors has been obvious over the decades, contemporary trends revolve largely on digital and technical changes in society. Technological improvements have imposed tremendous impacts on printing and publishing capacities. Authors and artists are writing to keep the interest of youngsters who are accustomed to the fast-paced sensory input of digital resources such as computer and video games, cellphones, and tablet apps. Publishing houses have sought to create print texts that mirror or resemble digital writings in terms of phrasing, style, picture type, or format. Some print publications even take notions regarding page design from digital texts. Changes in current children's books are influenced not just by digital and technical forces, but also by a late-twentieth-century cultural trend that has considerably boosted market growth.
Beginning in the last few weeks of March 2020, the consequences of COVID-19 and related steps to try to stop its spread had a significant impact on the companies of some market players. The World Health Organization declared COVID-19 a worldwide pandemic on March 11, 2020, and governments throughout the world issued instructions to restrict the virus's spread. Many jurisdictions across the globe took steps to restrict travel, instituted work from home policies, enacted temporary closures of businesses, schools, universities, issued quarantine orders and took other restrictive measures in response to the COVID-19 pandemic. Uncertainty with respect to the economic effects of the pandemic and the restrictive policies to mitigate its spread have introduced significant volatility in the children’s publishing market. Certain markets have reopened while others remain closed or have closed again in an effort to control the spread of the virus.
The global children’s publishing market is estimated to witness a decline of around XX% in 2020 due to the outbreak of the COVID-19 pandemic. The children’s publishing industry is seemingly witnessing downfall recently in COVID-19 and the affected countries, includes the US, Germany, Brazil, and others. Moreover, due to lockdown or limited production, the disruption in the supply chain of materials has affected children’s publishing manufacturers. Additionally, education has changed dramatically, with the tremendous rise of e-learning, whereby teaching is undertaken remotely and on digital platforms. Whereas the rise in e-learning has increased the demand for e-books for better student-teacher engagement. However, the market will gain its traction with the investments in new technologies like e-learning and digitalization, which will foster the children’s publishing market growth. Moreover, the positive measures and innovative marketing strategies need to be practiced by companies, to build up their business subsequently the post-COVID-19 pandemic.
Education has a huge influence on human society. Knowledge and information are received and transmitted throughout the world through education. The early childhood education is unquestionably a crucial and fundamental stage of learning. In low-income nations, the situation is even worse, with barely one out of every five young children enrolling. Early childhood education programs are least likely to be attended by children from low-income families. On the contrary, the supportive government initiatives for providing education have significantly drive the market’s growth.
For instance, with effect from 2018-19, the Indian Department of School Education and Literacy has introduced Samagra Shiksha, an Integrated Scheme for School Education that combines the three former Centrally Sponsored Schemes of Sarva Shiksha Abhiyan (SSA), Rashtriya Madhyamik Shiksha Abhiyan (RMSA), and Teacher Education (TE). The system envisions school education as a continuum from pre-school to senior secondary school, with the goal of ensuring that all students receive a high-quality education. Financial assistance is provided to States and UTs for a variety of activities aimed at reducing the number of out-of-school children, including the opening/strengthening of new schools up to senior secondary level, the construction of school buildings & additional classrooms, the establishment, up-gradation, and operation of Kasturba Gandhi Balika Vidyalayas (KGBV), the establishment of residential schools/hostels, free uniforms, and free transportation. Moreover, under the student-oriented component, financial assistance is also provided for the recognition and evaluation of children with special needs, assistance and appliances, braille kits and booklets, appropriate teaching learning material, and a stipend for girl students with disabilities, among other things.
Every child has the right to a free, high-quality basic education. School attendance is far from universal, especially among girls, and many students drop out before completing their primary education. Owing to poorly qualified, underpaid teachers, overcrowded classrooms, and a lack of basic teaching resources like as textbooks, blackboards, and pencils and paper, many children who do attend school receive an inadequate education. Many developing countries have the challenge of governments lacking either the financial resources or the political will to meet their inhabitants' educational requirements. As a result, in certain low-income nations, poor parents have organized and paid for their children's education. It is true that school fees and other user fees are a significant financial hardship for some parents. But, given the alternative—children receiving no education at all, which results in restraining the market’s growth.
The government may not have the resources to give free education to all, owing to a vast, untaxed shadow sector and the tax base is tiny, or because tax administration and collection are poor. Furthermore, in many countries (often the same ones), the government wastes its resources. Money is mismanaged, and inefficiency or open corruption could prevent funds from reaching schools. The political will offer universal education may also be lacking in undemocratic regimes if governing elites worry that an educated population would be better able to confront them. Although it is evident that addressing these flaws is a top priority, it will take time.
The global economy has undergone the most inclusive transformation and digitalization in the education industry, which has given rise to digital education. E-book kid publishing in education has recently acquired momentum and is becoming increasingly relevant in the field of education, since it allows parents to investigate their child's learning paths and encourages education with a better learning experience. This has prompted the acceptance and deployment of e-book kid publishing, which may be coupled with connected and smart devices to assess the effectiveness of sophisticated learning approaches.
In order to create more interesting material and provide a better experience, companies in the market are focused on producing personalized storybooks. Personalized storybooks are available for purchase online, and they allow children's names, addresses, and likes and dislikes to be placed into a tale book, with the characters even looking like the children. Children enjoy these novels because they were written specifically for them and feature children, friends, and family members as narrative heroes, which results in creating a lucrative growth opportunity in the market.
The study categorizes the children’s publishing market based on type, and application area at the regional and global levels.
Based on the application, the market is divided into baby age 2, age 2-5, age 6-8 and age 9-12. The age 2-5 segment is expected to dominate the market share in 2022 in the global children’s publishing market. The age 2-5 segment currently dominates in 2022, gaining a revenue share of around 42.2%. It is expected to grow at a CAGR of 4.5% throughout the forecast period in the children’s publishing market. Due to a growth in children's interest in animals, colors, and numbers from an early age grouping, which promotes reading habits at an early stage, which helps both writers and publishers of children's books globally. Furthermore, this age group prefers illustrated storybooks that help kids comprehend topics such as family connections better through stories with morals and values that teach lessons such as honesty always prevails over dishonesty, etc.
Based on the regions, the global children’s publishing market has been segmented across Europe, North America, the Middle East & Africa, Asia-Pacific, and South America. North America is projected to account for the highest market share in 2022. The growing number of school-age children, together with parents' desire to spend on educational products and services, will increase regional demand for ECB Books throughout the anticipated years. Furthermore, because to increased birth rates in nations such as the United States, and others, ECB sales in this area will increase during the predicted period.
The children’s publishing market is a significant competitor, and extremely cutthroat in the sector are using strategies including product launches, partnerships, acquisitions, agreements, and growth to enhance their market positions. Most sector businesses focus on increasing their operations worldwide and cultivating long-lasting partnerships.
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