ANIME MARKET ANALYSIS

Market Challenges And Opportunities

Global Anime Market Drivers:

Growing sale of anime content across the globe to propel market growth

The popularity of anime has raised investments and technological improvements in the industry. The demand for the entertainment genre is on the rise owing to growing consumer awareness regarding the benefits of anime films and video games. Moreover, the growing popularity of manga is another key driver fuelling market growth.

Growing internet penetration to fuel market growth

The anime movies are gaining significant traction due to the growing penetration of internet. International Telecommunication Union estimates that approximately 5.3 billion people – or 66 per cent of the world’s population – are using the Internet in 2022. This represents an increase of 24 per cent since 2019, with 1.1 billion people estimated to have come online during that period.

Global Anime Market Opportunities:

Growing popularity of anime video games to provide significant market growth opportunities. For instance, May 2023, Crunchyroll Games has introduced The Eminence in Shadow: Master of Garden on Windows PC. Across three platforms, players can dive into the Seven Shadow Chronicles for official story content, build the team and take on the Cult of Diablos. The game is downloadable worldwide on the official website and features cross-platform play and progression with Apple Store and Google Play.

Technological advancement in the anime market is expected to bring bright market opportunities. For instance, advent of 3D modeling, it is being used to minimize production costs and experiment with innovative storyboarding processes. Moreover, it also has been utilized to create a more immersive experience for audiences. Furthermore, 3D modeling is widely used in a variety of applications, such as video games, marketing, and CAD design.

Global Anime Market Restraints:

Low budget and shortage of skilled animators to hamper market growth

The shortage of artists due to low pay and extended working hours is a key factor expected to hamper the market growth. For instance, according to the Japanese Animation Creators Association (JACA), on an average, an animator in Japan earns US$ 10,000 per year in their 20s, US$ 19,000 in their 30s, and US$ 31,000 in their 40s - 50s. Moreover, as per the Teikoku Databank report in 2016, the revenue has dropped to 40 percentage over the 10 years for the animation studios professions.          

Negative impact of COVID-19 on the global economy                    

The COVID-19 pandemic had negatively impacted the animated television programs, they were either canceled or postponed due to the imposed of lockdown and social-distancing policies.