Webtoons Market Report and Forecast 2024-2032

Market Outlook

According to this report, the webtoons market size reached a value of USD 5.55 billion in 2023. Aided by the increasing demand for digital entertainment and the growing popularity of webtoons among diverse age groups, the market is projected to further grow at a CAGR of 18.6% between 2024 and 2032 to reach a value of USD 25.82 billion by 2032.

Webtoons are a form of digital comics originating from South Korea, characterised by their vertical scroll format, which is optimised for reading on smartphones and other digital devices. These comics cover a wide range of genres, including romance, fantasy, drama, action, and horror, attracting a broad audience base. Webtoons have gained significant popularity globally, driven by their accessibility, engaging content, and interactive features.

The increasing consumer preference for digital entertainment is driving the webtoons market growth. With the proliferation of smartphones and high-speed internet, digital content consumption has surged, leading to a higher demand for online comics. Webtoons offer a convenient and engaging way to consume stories, catering to the preferences of modern readers who favour digital formats over traditional print media.

Additionally, the rising trend of interactive and immersive storytelling is a major factor contributing to the market growth. Webtoons often incorporate multimedia elements such as animations, sound effects, and interactive features, enhancing the reader's experience. This trend is driven by the desire for innovative and dynamic content that provides a more engaging and interactive reading experience.

The expanding applications of webtoons in various sectors also play a significant role in propelling the market. In the entertainment sector, webtoons serve as a valuable source of content for adaptations into TV shows, movies, and video games. The success of webtoon-based adaptations, such as Netflix's "Sweet Home" and "Love Alarm," has highlighted the potential of webtoons as a content reservoir, driving further interest and investment in this medium, consequently driving up the webtoons market share.

Technological advancements play a crucial role in the growth of the market. The development of advanced digital platforms and mobile applications is enhancing the accessibility and user experience of webtoons. Technologies such as artificial intelligence (AI) and machine learning (ML) are being used to recommend personalised content to users, improving engagement and retention. These technologies enable webtoon platforms to analyse user preferences and behaviour, offering tailored content recommendations and enhancing user satisfaction.

Moreover, the integration of augmented reality (AR) and virtual reality (VR) in webtoons is driving market growth. AR and VR technologies provide immersive and interactive experiences, allowing readers to engage with the content in novel ways. These technologies enhance the storytelling experience by incorporating 3D elements, animations, and interactive features, making webtoons more engaging and appealing to users.

As per the webtoons market analysis, the market of webtoons in Asia Pacific is driven by the high adoption of digital comics and the presence of major webtoon platforms in the region. South Korea, in particular, is a key contributor to the market growth, being the birthplace of webtoons and home to leading webtoon platforms such as Naver Webtoon and KakaoPage. The strong cultural influence and the widespread popularity of webtoons in South Korea have propelled their adoption across other Asian countries.

North America is another prominent region, with the United States leading the way. The growing demand for digital entertainment and the increasing number of webtoon platforms catering to English-speaking audiences are driving the market growth in this region. The rising popularity of webtoons among young adults and teenagers, coupled with the success of webtoon-based adaptations, is further boosting the market in North America.

Market Segmentation

The market can be divided based on genre, revenue model, device type, and region.

Market Breakup by Genre

• Comedy
• Action
• Sci-Fic
• Romance
• Horror
• Others

Market Breakup by Revenue Model

• Subscription Based
• Advertisement Based

Market Breakup by Device Type

• Mobile
• Television
• Laptop and Tablets

Market Breakup by Region

• North America
• Latin America
• Middle East and Africa
• Asia Pacific
• Europe

Competitive landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in global webtoons market. some of the major players explored in the report are as follows:

• Marvel Entertainment, LLC
• SideWalk Group
• Izneo Company
• Kakao Entertainment Co., Ltd
• Lezhin Entertainment, LLC
• Naver Webtoon Limited
• Kidari Studio Co., Ltd.
• Contents First, Inc. (Tappytoon)
• Toomics Global Co., Ltd
• RIDI Corporation
• Others