Nielsen’s India Book Market Report 2015 predicts double-digit growth

04 Dec,2015

By A Correspondent

 

Nielsen’s study of the India Book Market pegs Indian Publishing sector at INR 306.6 billion currently, making it the sixth biggest publishing market globally. The study titled ‘India Book Market Report 2015’ estimates a CAGR of 19.3 per cent for the industry in next five years. The report, among other interesting facts, also highlights that India is the second largest English-language print book publisher in the world.

 

The Nielsen study is a comprehensive assessment of the Indian book industry conducted in association with Association of Publishers in India (API) and the Federation of Indian Publishers (FPI) to evaluate the opportunities and challenges facing the industry, as well as where its future lies. The report will enable the industry to meet the needs and demands of a well-educated nation that continues to grow. Before the release of this report India’s book industry estimates were mostly unverifiable estimates.

 

Speaking of the India Book Market Report 2015, the newly appointed President of the Association of Publishers in India, Vikas Gupta said “The report offers invaluable insights into the books market that will help not just the publishing industry but also the Government and Educators to make plans for a fully literate and educated nation.” He added “The report illustrates the contribution of publishers in the schools and higher education domains, as also in trade and general interest categories.”

 

Vikrant Mathur, Director of Nielsen Book India, commented: “There is enormous potential in the India Book Market which has been highlighted by the report, enabling publishers, booksellers and libraries to gain a deeper understanding of the market, pin-pointing areas that can be developed and those pinch points that need to be addressed in order to bring more efficiency and cost savings to the India Book Market and its supply chain.”

 

Some prominent factors that drove the growth of the industry include:

The Growth of Indian Book Market:

Government’s focus on digitization, a growing literacy rate, government spend on education along with increasing outsourcing of book publishing services to India are strengths of the Indian publishing industry and will continue to sustain the industry growth.

 

Indian Publishing Sector is a dynamic industry:

Further, books have emerged as an instrumental category for e-commerce business, accounting for 15 per cent of the overall e-commerce trade, just trailing behind electronics (34 per cent) and apparel & accessories (30 per cent).

 

The study revealed that “general and literary fiction” was ranked the #1 genre in the trade books segment while “test prep” was the most sought after genre in Academic books.

 

Government policies and implications for the Publishing Industry:

Allowance of 100 per cent foreign direct investment in the publishing industry along with various initiatives of the Government in promoting reading habits by strengthening the library movement, organizing book fairs and making subsidized books available are positively impacting the publishing industry. The rising literacy rate and concurrent efforts of the government in reducing school drop-out rate presents publishing industry an immense opportunity to play a direct role in the development of the country through the creation and dissemination of quality educational content.

 

The Indian book consumer and the digital opportunity:

As digital content becomes mainstream and new channels of marketing open, the manner in which consumers engage with books and reading is continuously changing worldwide. A survey of 2,000 consumers, representative of the urban population aged 18+ during the Nielsen study provides deep insights into changing consumer preference for books in India.

 

The consumer data survey shows that on average people read books 2.1 times a week while nearly two-thirds read the book occasionally; interestingly, 56 per cent of the respondents bought at least one e-book a year and nearly half of these bought at least 3-4 e-books a year indicating a growing demand for digital books.

 

 

Post a Comment 

Comments are closed.

Today's Top Stories
Videos