The Japanese animation industry and the related market reached a record high of 2.74 trillion yen on November 8, 2022.

The Japan Animation Association announced the results and had already predicted the figure. This is a 13.3% growth since the previous year.

The growth of the market is supported by the recovery of the domestic market, which was falling 10.1% year-on-year due to the new Corona disaster in 2020, showed significant growth of 21% year-on-year to reach a record high of 1.4288 trillion yen.

The distribution market, which continues to be strong, showed a high growth of 65.9% over the previous year, and merchandising had a strong momentum of 663.1 billion yen (up 14%).

The overseas market remained strong at 1313.4 billion yen with a growth rate of 6% which is record high until now.

A detailed report will soon be released by JAA on November 11.

The animation industry has continued to grow for 10 consecutive years. In which it reached a record high for 7 consecutive years in 2019. Both domestically and internationally. It amassed a sum of 2,511.2 trillion yen approximately $24 Billion USD. A growth of 19% over the previous year.

Despite the declining birthrate, aging population, the shrinking domestic market due to the tightening of regulations in China in April 2019, the market has grown fivefold compared to 2009.

Major key players in the Anime market are P.A. Works, Toei Animation Co., Manglobe Inc., Sunrise Inc., Bones Inc., Studio Ghibli, Inc., and Production I.G, Inc., Sunrise Inc., Pierrot Co., Ltd. Inc., Madhouse Inc., and Kyoto Animation Co. Ltd.

In the anime industry 5 years ago, a new Anime series released once a month. Now, the situation has drastically changed. As of the huge demand in this industry, we see new Animes/Manga coming out within days. Talking about Animes, we have been seeing huge growth in the Cosplayer industry too.

OTT giants have taken upon the responsibility to meet the demands of the audience at best. This includes catering Anime shows and signing deals with many Japanese anime studios to keep the ball rolling. In November 2019 Netflix has contracted with Anima, Sublimation, and David Production and is coming up with new original releases soon. In an article by Variety, Netflix revealed their most recent tie-ups with Anima & Company (owner of NAZ), Science Saru and Mappa from Japan, and with Studio Mir based in Korea “to explore new stories and formats to entertain anime fans around the world.”

The Anime Market was valued at USD 24.23 Billion in 2020. In research conducted by Brandessence Market Research And Consulting Private Limited, it is anticipated to reach USD 43.73 Billion by 2027 with a CAGR of 8.8% over the forecast period. Also with people willing to spend hundreds of dollars to aid the rising popularity of media drives the growth of the Anime Market.

Source: Animation Business Info