Webtoons Market Size, Share & Trends Analysis Report By Type, By Platform (Mobile & Tablets, Laptop & Computers, Television), By Monetization Model, By Demographic, By Region, And Segment Forecasts, 2024 - 2030

Webtoons Market Size & Trends

The global webtoons market size was estimated at USD 8.28 billion in 2023 and is projected to grow at a CAGR of 27.3% from 2024 to 2030. The market growth can be attributed to several pivotal factors. Firstly, the widespread availability of the internet has played a significant role, enabling easy access to digital content. The proliferation of smartphone applications dedicated to webtoon reading has further catalyzed this growth, providing users with convenient access to a diverse array of captivating content.

Originating from South Korea, where they have ingrained themselves as an integral part of popular culture, webtoons have gained popularity worldwide. As Korean culture continues to exert its influence globally, the popularity of webtoons has surged in tandem, showcasing the remarkable synergy between cultural phenomena and digital entertainment.

The accessibility of digital comics is another important factor in the market growth. Unlike traditional comics, which can be difficult to find and purchase, webtoons are readily available online. They can be downloaded through mobile apps or read for free on websites like Webtoon and Line Webtoon. In addition to these factors, it offers several unique advantages over traditional comics. For one, they are often serialized, with new episodes released on a regular basis. This creates a sense of anticipation and encourages readers to return to the platform regularly. The platforms also offer a more interactive reading experience than traditional comics. Many platforms allow readers to leave comments and interact with the creators and other readers. This creates a sense of community around the webtoon and can help to build a loyal fanbase.

The younger generation has played a significant role in the market growth in recent years. The main reason for the market growth among the younger generation is the shift in reading habits. Young readers are increasingly turning to digital formats for their reading needs, and webtoons are a perfect fit for this trend. It can be easily accessed through smartphones and tablets, making them a convenient and accessible option for young readers who are always on the go. The unique storytelling format of digital comics has also contributed to their popularity among younger readers. Digital comics are typically presented in a vertically scrolling format, which allows for a more immersive and interactive reading experience. The use of visuals and animation also adds to the appeal of comics, making them more engaging and entertaining than traditional comics.

The market growth among the younger generation is due to rise of social media. Creators often use social media platforms like Instagram and Twitter to promote their work and connect with fans. This has helped to create a strong community around webtoons, with fans sharing their favorite comics and recommending them to others. The market has also seen significant growth due to the increasing popularity of Korean culture and comics. Korean comics are known for their unique storytelling and vibrant visuals, and they have gained a massive following among young readers around the world. Many Korean comics have been adapted into popular TV dramas, further increasing their popularity among young audiences.

Market Concentration & Characteristics

The market growth stage is exponential, and the pace is accelerating. The popularity of digital comics as a form of entertainment has exploded, particularly among younger generations who are increasingly turning to digital media for their entertainment needs. This growth has been fueled by several factors, including the ease of access to comics via smartphones and other mobile devices, the proliferation of social media platforms that allow users to share and discuss their favorite digital comics with others, and the increasing availability of high-quality content from talented creators around the world.

The market is seeing an increasing number of merger and acquisition (M&A) activities by the leading players. This trend can be attributed to several factors, including the rapidly growing market size, increasing competition, and the need for companies to diversify their offerings and expand their reach. In recent years, major players in the market have been acquiring smaller companies and startups to gain access to new talent, technology, and content.

The market is also subject to moderate regulatory analysis. The primary area of regulatory concern is content moderation. Webtoons often feature mature themes and content, and regulators are keen to ensure that this content is appropriate for the intended audience and does not violate any laws or regulations.

End-user concentration is a significant factor in the market. The dominant players have significant control over the content that is available to consumers, and they may prioritize their own content over that of smaller creators and publishers. In addition, with fewer players in the market, there may be less competition to drive down prices and improve the overall quality of content. 

Type Insights

Based on type, the romance segment led the market with the largest revenue share of 38.8% in 2023. These are particularly popular among teenage readers, who enjoy the lighthearted tone and relatable characters. Romance webtoons offer immersive stories, making them one of the most favored genres in reader category. In addition, the diversity of romance comics has also contributed to the market growth. There are comics that cater to different age groups, interests, and cultural backgrounds, making it easier for readers to find a story that resonates with them. Overall, the romance segment is expected to grow at the fastest CAGR over the forecast period, as more and more readers turn to digital comics as a source of entertainment.

The comedy segment is expected to register at the fastest CAGR of nearly 31.0% from 2024 to 2030. The market for comedy comics has grown significantly in recent years, with more and more creators entering the space and established platforms, gaining a larger following. This growth can be attributed to several factors, including the increasing popularity of mobile devices and the rise of social media. In addition, the ease of access to digital comics through various online platforms has made it easier for readers to discover and explore new titles. This has led to a more diverse range of webtoons being created, including those that focus on comedy.

Demographics Insights

Based on demographics, the 25 to 35 years segment led the market with the largest revenue share of 43.7% in 2023. The age group characterized by its tech-savvy and digitally immersed nature, has embraced comics as a preferred form of entertainment. The convenience of accessing engaging and visually appealing content on mobile devices has contributed to the surge in popularity. Platform’s interactive and dynamic storytelling format resonates well with the preferences of this demographic, fostering a sense of connection and community. As a result, creators are increasingly tailoring content to cater to the diverse innovation of 25-to-35-year age bracket, driving innovation and expansion within the market. The growth is not only a testament to the platform’s ability to capture the attention of a digitally native audience but also underscores the evolving landscape of entertainment consumption in the modern age.

Below 18 years segment is expected to register at the fastest CAGR of more than 30.0% from 2024 to 2030. The dynamic and visually engaging format of the comics appeals to the younger audience, providing an immersive storytelling experience. This demographic’s increasing access to smartphones and the internet has played a pivotal role in the surge of comics consumption. It often addresses themes relevant to teenagers offering relatable content that resonates with their experiences. The market has witnessed a surge in diverse genres, catering to varied interests within this age group. Furthermore, the ease of accessibility and affordability of webtoons compared to traditional comics has contributed to their popularity among the below 18 years demographics. The market is continuing to expand due to the evolving preferences of a tech-savvy and visually oriented younger audience.

Platform Insights

Based on platform, the mobile and tablet segment led the market with the largest revenue share of 76.3% in 2023, due to changing consumer preferences and increased digital engagement. Mobile devices offer convenient access, allowing users to enjoy comics anytime, anywhere. The user-friendly interfaces and responsive design of apps cater to seamless navigation, enhancing the overall reading experience. This shift towards mobile and tablet consumption has spurred innovation in content delivery, with diverse screen sizes. In addition, dedicated apps and platforms have emerged, fostering a dynamic ecosystem. As mobile and tablet usage continues to surge globally, the market is poised for sustained expansion offering creators a broader audience and readers a more accessible and immersive storytelling experience.

The laptop and computer segment has significantly influenced the market growth, offering users a versatile and immersive reading experience, with larger screens and enhanced computing power, readers can enjoy high-quality visuals and interactive features, fostering engagement with the content. The accessibility of comics on laptops and computers has expanded the audience base, attracting individuals who prefer a more traditional reading setup. In addition, creators benefit from the platform’s capabilities, enabling them to produce visually stunning and intricate webtoons that resonate with the audience. As technology continues to advance, laptops and computer platforms are poised to play a pivotal role in shaping the future trajectory of the market, driving innovation, and enriching the overall user experience.

Monetization Model Insights

Based on monetization model, the advertising based segment led the market with the largest revenue share of 27.3% in 2023. Advertisers leverage the platform’s extensive user base to target diverse demographics effectively. Dynamic and interactive content on comics provides advertisers with unique opportunities for engaging promotions. The freemium model, combining free content with premium ad-free options, appeals to a broad audience while ensuring revenue streams. Native advertising seamlessly integrates into the storytelling, enhancing user experience and advertiser visibility. Collaborations between the creators and brands foster innovative promotional campaigns, driving monetization and market expansion, with the increasing popularity of webtoons globally, the advertising monetization model is poised to further evolve, offering a win-win scenario for creators, users, and advertisers alike.

The subscription based segment is expected to register at the fastest CAGR of nearly 30.0% from 2024 to 2030. Offering exclusive content, early access and an ad-free experience, subscription appeals to avid readers seeking premium features. This model not only provides a reliable revenue stream for webtoon platforms but also enhances user engagement and loyalty. By leveraging subscription-based services the platform can invest in creating high-quality, diverse content while ensuring a sustainable business model. The growth of this monetization approach reflects a shift in consumer preferences towards a more personalized and seamless reading experience, driving the market to new heights. As competition intensifies, platforms continually innovate their subscription offerings, contributing to the overall expansion and evolution of the industry.

Regional Insights

North America dominated the market with the largest revenue share of 25.0% in 2023, due to increasing popularity of digital comics and the ease of access to online content. The rise of smartphones and tablets has made it easier for people to consume content on the go, while social media platforms have helped to raise awareness of webtoons and their creators. In addition, the industry has seen increased investment and support from major publishers and media companies, which has helped to fuel market growth and attract new audiences.

U.S. Webtoons Market Trends

The webtoons market in the U.S. is expected to grow at the fastest CAGR of 27.0% from 2024 to 2030. The rising interest in digital media, is a key driver of market growth in the U.S. The changing roles of webtoon agencies, focusing on talent discovery, content planning, and platform mediation, have contributed to the expansion of the market.

Europe Webtoons Market Trends

The webtoons market in Europe is expected to witness at the significant CAGR of over 29.0% from 2024 to 2030. The growth in the region is due to the proliferation of smartphones and increased internet access, the market have become a popular form of entertainment across Europe. This growth can be attributed to the convenience of accessing content on mobile devices, diverse storytelling formats and the ability for creators to reach a global audience. Platform offering translated and localized comics have further contributed to the expansion of the market.

The Germany webtoons market is expected to witness at the substantial CAGR of nearly 29.0% from 2024 to 2030. The growing preference for digital media and online entertainment platforms is likely to drive the expansion of the market in Germany. The shift towards online platforms for webtoon distribution, coupled with the success of paid services, is expected to fuel market growth in Germany.

The webtoons market in UK accounted for the revenue share of 28.0% in 2023. The rise in smartphone and internet penetration, along with increased consumption of digital content, has fueled the market growth in the UK The popularity of Korean culture, including K-dramas and K-pop, has also contributed to the growing demand for market.

The webtoons market in France is expected to witness at the fastest CAGR of 31.0% from 2024 to 2030. The increasing popularity of manhwa (Korean comics) and the influence of the Korean Wave have piqued interest in webtoons. France's tech-savvy population, coupled with high smartphone and internet penetration, has facilitated easy access to digital comics.

Asia Pacific Webtoons Market Trends

The wentoons market in Asia Pacific is expected to witness at the fastest CAGR of 25.0% from 2024 to 2030. The unique storytelling format of the comics characterized by vertical scrolling, has resonated well with diverse audiences. South Korea has been a major hub for webtoon creation, with its content gaining widespread popularity. Collaboration between platforms and entertainment industries has further propelled the market, leading to adaptations into various forms of media.

The China webtoons market in expected to witness at a significant CAGR of 24.0% from 2024 to 2030. The rise of mobile internet and increasing smartphone usage has made webtoons highly accessible. China's tech-savvy youth population has embraced digital comics and the convenience they offer. In addition, the popularity of Korean entertainment, including K-dramas and K-pop, has fueled interest in Korean webtoons.

The webtoons market in India is expected to witness at a rapid CAGR of 34.0% from 2024 to 2030. The increasing popularity of digital comics, rising internet and smartphone penetration, and the growing youth population are fueling the demand in India. The availability of diverse genres, low data consumption, and free content have made webtoons accessible to a wider audience.

The Japan Webtoon market is expected to witness at a substantial CAGR of 25.0% from 2024 to 2030. The popularity of Japanese manga and the increasing demand for digital comics have fueled the growth of webtoons. Major platforms like LINE Manga and Piccoma have attracted a large user base with diverse genre offerings and free content.

Middle East and Africa Webtoons Market Trends

The webtoons market in Middle East and Africa is expected to witness at the fastest CAGR of 27.0% from 2024 to 2030. The proliferation of affordable smartphones and increasing internet penetration have made webtoons accessible to a broader audience. The region's tech-savvy and youthful population has embraced digital consumption, fueling demand for online comics. Localized content offerings and partnerships with regional creators have catered to diverse cultural preferences. In addition, the cost-effective nature of webtoons, compared to print comics, has attracted budget-conscious consumers.

Key Webtoons Company Insights

Some of the key players operating in the market include NAVER WEBTOON, Marvel Unlimited, Lezhin Entertainment LLC, among others.

• NAVER WEBTOONS is a leading player in the market, offering a vast collection of webtoons that are popular among millions of readers worldwide. With its user-friendly interface, the company makes it easy for users to discover, read, and share their favorite webtoons with others. The platform offers a diverse range of webtoons, including romance, action, comedy, drama, and more, catering to the varied interests of readers

• Lezhin Entertainment LLC is a popular player in the market, providing a wide range of webtoons that cater to different reader interests. The platform boasts of an extensive collection of webtoons, including romance, fantasy, BL, drama, horror, and more. With its unique pay-per-chapter business model, Lezhin Entertainment LLC offers readers the flexibility to read webtoons at their own pace

Tory Comics, Netcomics, Toomics Global Co. Ltd., are some of the emerging market participants in the global market.

• Netcomics is an emerging player in the market, offering a unique collection of webtoons that cater to readers interested in Korean comics. The platform provides a diverse range of webtoons, including romance, fantasy, action, and more, that are popular among readers worldwide

• Tory Comics is an emerging player in the market, known for its unique collection of webtoons that cater to readers worldwide. The platform offers a diverse range of webtoons, including romance, fantasy, drama, and more, that are popular among readers of all ages. Tory Comics also stands out for its focus on high-quality artwork and storytelling, with webtoons that captivate readers from start to finish 

Recent Developments

• In December 2023, Marvel announced list of comics to release includes, X-Men Multiversal adventure, Fall of X, UNCANNY Spider-Man, UNCANNY Avengers, The Amazing Spider-Man, G.O.D.S, and Star Wars Revelations

• In November 2023, Imagine Entertainment and WEBTOON announced Love Advice from the Great Duke of Hell a film adaptation of unfins’ WEBTOON digital comic sensation. Cody Blue Snider 

Webtoons Market Report Scope

Global Webtoons Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global webtoons market report based on type, platform, monetization model, demographics, and region.

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Comedy

  • Action

  • Romance

  • Horror

  • Sci-Fi

  • Others

• Platform Outlook (Revenue, USD Million, 2018 - 2030)

  • Mobile & Tablets

  • Laptop & Computer

  • Television

  • Others

• Monetization Model Outlook (Revenue, USD Million, 2018 - 2030)

  • Subscription Model

  • Advertising Model

  • Others

• Demographics Outlook (Revenue, USD Million, 2018 - 2030)

  • Below 18 Years

  • 18 to 25 Years

  • 25 to 35 Years

  • Above 35 Years

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa (MEA)

    • UAE

    • Saudi Arabia

    • South Africa