Fiction Books Global Market Report 2024

The fiction books market size has grown steadily in recent years. It will grow from $10.81 billion in 2023 to $11.05 billion in 2024 at a compound annual growth rate (CAGR) of 2.2%. The growth observed in the historic period can be attributed to several factors, including the expansion of the publishing industry, increased demand from readers, the influence of literary awards and recognition, the advent of digital publishing, and the adaptation of fiction works into various media forms.

The fiction books market size is expected to see steady growth in the next few years. It will grow to $12.01 billion in 2028 at a compound annual growth rate (CAGR) of 2.1%. The projected growth in the forecast period can be linked to various factors, including a focus on diversity and inclusivity in fiction, the provision of personalized reading recommendations, the emergence of independent and self-published authors, increased global reach in the publishing industry, and a growing emphasis on sustainability and eco-friendly publishing practices. Prominent trends in the forecast period encompass genre blending, the popularity of short fiction and anthologies, virtual book events, the rise of book subscription services, and the development of interactive and immersive reading formats.

The fiction books market is expected to experience growth, driven by the increasing sales of books through online channels. The growing number of active internet users has provided companies with the opportunity to reach a wide customer base. Notably, in August 2022, digital book sales in the US saw a 2.7% increase, generating over $90.7 million in e-book sales, as reported by the Association of American Publishers. The preference for online book purchases is driven by the extensive selection, cost savings through discounts and offers, and the convenience of shopping from any location at any time. Consequently, online book shopping is a significant factor boosting the fiction book market.

The primary categories of fiction literature include short stories, novellas, and novels. Novellas are shorter than full-length novels but longer than short stories, offering a unique narrative experience. Fiction books can be found in physical book format, electronic e-books, or as audiobooks, and they cover a wide range of genres, including action and adventure, young adult, crime/mystery, drama, horror/paranormal/ghost, science fiction, and various other genres. These works of fiction cater to readers of different age groups, including children, young adults, and adults.

The fiction books market research report is one of a series of new reports that provides fiction books market statistics, including fiction books industry global market size, regional shares, competitors with a fiction books market share, detailed fiction books market segments, market trends and opportunities, and any further data you may need to thrive in the fiction books industry. This fiction books market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The changes in people's reading habits are expected to impede the growth of the fiction books market. A shift in preferences towards alternative forms of entertainment, such as videos, streaming platforms, gaming, and television, has led to a decline in book reading and increased time spent on other activities. For example, nearly 80% of individuals in the USA have subscribed to at least one paid online streaming video service, as revealed in the Digital media trends survey, 14th edition. This shift toward online streaming platforms has diminished interest in reading books, posing a challenge to the growth of the fictional books market.

Major companies in the fiction book market are focusing on the development of artificial intelligence (AI) technology. AI-narrated books provide a unique literary experience by combining human creativity with machine precision. A recent example is Apple Inc.'s launch of a catalog of AI-narrated books on its Books app in January 2023. These AI-driven narrations feature a digital entity designed after a human narrator, offering potential cost and complexity reductions in audiobook production for authors and publishers. This innovation has the capacity to bring significant changes to the audiobook industry, with AI-driven narrations available for a range of genres, including fiction and romance.

To enhance accessibility and the reading experience of e-books, major companies in the fiction book market are actively pursuing strategic collaborations and partnerships. These strategic alliances benefit authors in improving their writing, gaining feedback from industry professionals, and reaching wider audiences. For instance, in May 2023, Pratilipi, an India-based online self-publishing and audiobook platform, partnered with HarperCollins Publishers LLC to introduce 200 fiction e-books on its platform. Pratilipi currently offers access to over 10 million stories, and this collaboration with HarperCollins aims to expand the platform's content library, providing readers with more high-quality choices. HarperCollins Publishers LLC is a US-based publishing company.

In December 2021, Book Depot, a bargain book distributor based in Ontario, acquired American Book Company to enhance its book distribution capabilities. This acquisition aligns with the company's growth strategy and is expected to contribute to improved book distribution services. American Book Company is a US-based bargain book shop chain and book distributor.

Major companies operating in the fiction books market include Penguin Random House LLC, Hachette Livre, HarperCollins Publishers LLC, Macmillan Publishers, Simon & Schuster Inc., Turner Publishing Company, Chronicle Books LLC, Coffee House Press Inc., Scholastic Corporation, Bloomsbury Publishing PLC, Egmont Group, Candlewick Press Inc., Nosy Crow Ltd., Chicken House Ltd., Usborne Publishing Ltd., Walker Books Ltd., Abrams Books Inc., Sourcebooks Inc., Harlequin Enterprises Limited, Kensington Publishing Corp., Entangled Publishing LLC, Bold Strokes Books Inc., Bella Books Inc., Dreamspinner Press LLC, Carina Press, Riptide Publishing, Less Than Three Press LLC, Little Brown and Company, Tor Books, Orbit, Ace Books, DAW Books, Baen Books, Angry Robot, Night Shade Books, Pyr, Subterranean Press LLC

Asia-Pacific was the largest region in the fiction books market in 2023. Middle East is expected to be the fastest-growing region in the fiction books market during the forecast period. The regions covered in the fiction books market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the fiction books market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The fiction books market consists of revenues earned by entities by carrying out design, editing, and marketing activities necessary for producing and distributing fiction books for adults. These establishments may publish books in print, electronic, or audio form. The market value includes the value of related goods sold by the service provider or included within the service offering. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.