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Report Overview
The global webtoons market value reached approximately USD 5.55 billion in 2023. The market is projected to grow at a CAGR of 18.6% between 2024 and 2032, reaching a value of around USD 25.82 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
- South Korean company WEBTOON boasts more than 24 million creators and nearly 170 million monthly active users from over 150 countries.
- In January 2024, the South Korean Ministry of Culture, Sports and Tourism and Korea Creative Content Agency reported that webtoon sales in 2022 witnessed a y-o-y surge of 16.8%.
- In 2021, Gen Z and younger millennials comprised 75% of webtoon users worldwide.
Global Webtoons Market Growth
Webtoons are digital comics or graphic novels available online, and accessible on smartphones, tablets, computers, and televisions. Originating from South Korea, these webcomics feature a wide range of genres and themes to appeal to a diverse audience. The rise of smartphones and tablets has significantly boosted their popularity, as the vertical, scroll-down format suits these devices well, boosting the webtoons market expansion. In 2023, nearly 54% of the global population (4.3 billion individuals) owned a smartphone.
The market growth is being boosted by younger generations' inclination towards on-demand, mobile-friendly content. Webtoons fulfil this demand by providing accessible, engaging, and interactive entertainment. They span a broad array of genres and themes, attracting a diverse range of demographics and interests. Additionally, the platform fosters diverse voices, enabling creators from different backgrounds to share their stories.
Industry reports show that global television volume remained steady at around 230 million units in 2020 and 2021. Projections indicate a gradual increase, reaching approximately 240 million units by 2025 and continuing to rise through 2029. This consistent performance highlights the enduring demand for televisions worldwide, driven by technological advancements, increased digital content consumption, and the growing popularity of smart TVs, further boosting demand for webtoons.
Webtoons Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 5.55 billion.
The market is estimated to grow at a CAGR of 18.6% between 2024 and 2032.
The market is estimated to witness healthy growth in the forecast period of 2024-2032, reaching a value of around USD 25.82 billion by 2032.
The major market drivers are increased penetration of the internet and the rising popularity of comics and online series.
The key trends of the market include the expansion of webtoons on an international scale, the rising affordability of drawing instruments, and the growing adaptation of webtoons into shows and movies.
The market is broken down into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
Based on the revenue model, the market is divided into subscription-based and advertisement-based.
The market key players are 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, and RIDI Corporation, among others.
The market is categorised according to the genre, which includes comedy, action, sci-fi, romance, horror, and others.
The market is divided into mobile, and television based on the device type.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124