Webtoons Market Trends, Size, Share & Forecast | 2024-2031 (2024)

Global Webtoons Market size was valued at USD 3.7 billion in 2019 and is poised to grow from USD 5.06 billion in 2023 to USD 84.93 billion by 2031, growing at a CAGR of 36.8% in the forecast period (2024-2031).

Webtoons are sorts of digital comics that was created in South Korea which was meant to be read on smartphones and computers. Most of individuals across the globe have acess to internet connection, which has brought a great expanse in the number of customers leaning towards webtoon. Rising development of subcriptions in mobile apps has prompted an upsurge in web-based activities made accessible on different entertainment platforms including action comics, series, digital comic, and others. Webtoon and digital innovations considerably reduced the expense of digital image creation by diminishing the requirement for drawing devices. Webtoons market is commonly saturated in nations such as South Korea, Taiwan, Vietnam, Malaysia and due to which the webtoons trends is getting sluggish tractions in other key countries such as U.S., Canada, UK, India etc.

US Webtoons Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

The Global Webtoons Market is segmented based on product, genre, devices, and region. Based on Product Webtoons Market is categorized into Subscription Based and Advertisem*nt Based. The genre segment is bifurcated into Action, Sci-Fi, Horror, Comedy, Romance and other genres. By devices, the Webtoons Market study is segmented into Mobiles, Tablets, Laptops, and other devices. Based on the region Webtoons Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.

Webtoons Market Analysis by Product

The subscription based sub-segment is estimated to be the quickest developing during the forecast time frame. Subscription based models are utilized in pretty much every industry such as food, OTT platforms, conveyance and various digital platforms. A subscription business plan is when a purchaser pays a charge consistently to get access to his/her services or product. This permits the business to gather continuous income from a gathering of faithful clients.

Webtoons Market Analysis by Genre

Based on genre, the segment is divided into Action, Sci-Fi, Horror, Comedy, Romance and other genres. The romance sub-section in expected to have the most noteworthy growth rate during the estimated timespan. Webtoon is turning out to be increasingly popular as a medium for reading comics, with romance being one of the most prevalent genre. Within the well known webcomic application ‐”Webtoon™”, romance seems to be the most famous genre. This is due to the presence of raw feelings in the romantic stories, where the readers can relate with the characters. A large number of the application's most well known contents are in the romance segment, that has been the essential source of recent clients. Webtoon has turned into a stage for anybody to deliver their own comic, manga, or manhwa.

Webtoons Market Analysis by Devices

According to the device segment, the mobile or smartphone sub-category is projected to be the swiftest advancing during the estimated time frame. Cell phones has turned into a fundamental electronic gadget in each normal person’s life. Application store systems have further developed client comfort, resulting in improved penetration and better screen time. Due to the increasing popularity of smart phones, individuals are discovering its applications. Mobiles are progressively used to remain associated with one another through networking, social media, and instant messaging applications. These are the factors responsible for individuals investing more time in their smart phones perusing webtoons, which are effectively accessible on mobile webtoon applications.

Asia Pacific webtoons market held the largest global webtoons market share in the past, as the major consumption of digital comics is within Asia Pacific countries. The impact of Korean wave is obviously noticeable across the globe particularly among the nations like Singapore, China, Indonesia, India, Vietnam, among others in the Asia Pacific region. Therefore it is expected to vigorously impact the market development by 2028. Moreover, the rise of different webtoon designer organizations and consultants is likely to provide additional support to the market development throughout the next few years.

Europe webtoons market is projected to be the fastest surging region during the forecast period. Webtoon will soon launch its’s services in French and Spanish, and German by the end of 2022. Webtoon is Europe's most popular digital comics platform, featuring its contents in Spanish, French, and German. Webtoons is supposed to make another European enterprise, establishing its position as the top player in the European digital comics market.

Webtoons Market Driver

• Rise in the growth of mobile based subscriptions, has led to an expansion in online operations, that is made available on numerous entertainment platforms involving digital comics, action comics, series and other readables.
• Webtoons are projected to generate enormous growth prospects as these digital comics have considerably reduced the need for obtaining drawing tools such as drawing pens and screen tone. Webtoons include vertically arranged pictures in which users may scroll from top to bottom, that allows designers to display one large-size picture on tablet or mobile.
• Intensifying competition is forcing the major companies operating in the webtoons market to focus on the launching of fresh content and new online series to attract noteworthy customers.

Webtoons Market Restraint

• Webtoons can be read only on online platforms and the most of the webtoon contents are very diminutive in length owing to which they do not posses enough episodes to create a print version.
• Due to the niche property of the industry, the illustrators existing in the webtoon programs are amateur, owing to which level and quality of webtoon narratives may dissatisfy the readers.

The Webtoons Market is consolidated, with the existence of limited number of firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Sidewalk Group, NHN Comico Corp., Marvel Unlimited, Kakao Corp., Naver Webtoon Corp., Lezhin Entertainment, Bomtoon, Tappytoon, Daum Webtoon And Company and Izneo Webtoon are driving the market.

Webtoons Market Top Player’s Company Profiles

• LINE Webtoon
• Lezhin Comics
• Toomics
• Naver Webtoon
• Tapas Media
• KakaoPage Corp.
• Comico
• Bomtoon
• Spottoon
• TappyToon
• Manhwa Manga Entertainment
• MangaToon
• NetComics
• DailyToon
• Fivestar Comics
• Mr. Blue
• Cartoon Network
• Daum Webtoon
• D&C Media Co., Ltd.
• Bilibili Inc.

Webtoons Market Recent Developments

• In April 2022, Naver Webtoon, introduced a new series from DC Comics webtoon called Vixen. Moreover, Naver Webtoon is planning to reveal two more webtooons from DC Comics namely “The Red Hood: Outlaws” and “Zatanna & The Ripper” in the coming months.
• In April 2021, Toonsutra, a renowned comics application for smartphones, was created by The Graphics India Group. Furthermore, the platform is offering webtoons centred around widely popular Indian TV shows such as”Baahubali” and “The Legend of Hanuman”.

• Most of individuals across the globe have acess to internet connection, which has brought a great expanse in the number of customers leaning towards webtoon.
• Webtoons market is commonly saturated in nations such as South Korea, Taiwan, Vietnam, Malaysia.
• Subscription based models are utilized in pretty much every industry such as food, OTT platforms, conveyance and various digital platforms.
• The romance sub-section in expected to have the most noteworthy growth rate during the estimated timespan. Webtoon is turning out to be increasingly popular as a medium for reading comics, with romance being one of the most prevalent genre.
• Mobile phones has turned into a fundamental electronic gadget in each normal person’s life. Application store systems have further developed client comfort, resulting in improved penetration and better screen time.
• Webtoon is Europe's most popular digital comics platform, featuring its contents in Spanish, French, and German.

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our global webtoons market analysis, Webtoons are sorts of digital comics that was created in South Korea which was meant to be read on smartphones and computers. Growing usage of mobile based subscriptions, has led to an expansion in online operations, resulting in the surging usage of webtoons. However, the illustrators existing in the webtoon programs are amateur, owing to which level and quality of webtoon narratives might be dissatisfactory.