Let's talk about: the global children's publishing market size and some of the current challenges facing publishers

Happy Monday!

I'm currently updating module one of my editorial training and mentorship, part of which explores the future of publishing, and I came across this statistic from Business Research Insights that I wanted to share with you:

"The global children's publishing market size was $10.15 billion in 2024 and the market is projected to touch $12.8 billion by 2032."

While it is brilliant to see this projected growth, I was particularly struck by the following findings of the report – it is exactly what I have observed:

"Overall, increasing production costs are a significant factor restraining the children's publishing market growth. Publishers will need to find ways to balance their costs with their need to create high-quality materials that can meet the needs of today's young readers. This may require significant investments in technology, research, and marketing, as well as a willingness to experiment with new business models and pricing strategies."

Alongside costs of raw materials and paper, publishers are challenged by labour costs – children's books require high-quality illustrators, designers, authors and editors, and cutting corners is highly problematic as book buyers are increasingly discerning about what they will buy – they have so many options across children's media.

As a freelance author, I have had to turn down work this year as writing fees are just too low (I'm talking rates from ten years ago – I know, I was there commissioning the writers). I've also had more issues with late invoice payments, usually indicative of cash flow issues. These are significant issues facing children's publishers today, and I'm watching the publishing landscape for solutions to lower production, printing and distribution costs with sincere interest.

Source: https://www.businessresearchinsights.com/market-reports/children-s-publishing-market-103895

That's all for now! Have a great day.

Claire (and her little boy Arthur, who is currently chewing the edge of her desk!)