The cosplay costume market is experiencing significant growth and it is expected to reach 1,667.34 million dollars between 2022 and 2027with a compound annual growth rate of 6.26% during that period.
According to Technavio analysts, quoted in splitthe Asia-Pacific (APAC) region will account for 75% of the global market during the forecast period.
The growing trend and popularity of cosplay events, competitions, and conventions, such as Anime Expo, World Cosplay Summit, Gamescon, and Comic-Con International, drives the growth of the cosplay costumes market. These conventions, mainly hosted by countries like China and Japan, encourage the participation of fans of works like Dragon Ball, Pokémon and more in the region and contribute to the growth of the cosplay costume market.
The cosplay costumes market is highly competitive, with vendors fighting to gain a larger share of the market. Established suppliers rely on economies of scale and technological advances to position themselves and price their products. However, there are also opportunities for new market entrants.
Industry challenges
Despite the growth of the market, there are challenges that hinder their development. The change towards diy costumes, driven by the high cost of cosplay costumes, represents a significant challenge. Many people choose to create their own cosplay costumes due to the lower costs and the opportunity to express their creativity.
This shift towards DIY costumes could limit the growth of the cosplay costumes market during the forecast period.
An emerging trend in the market is the increase in the purchasing power of consumers, which positively impacts the growth of the cosplay costumes market. Post-pandemic, a recovery in purchasing power has been seen, leading to increased spending on costumes due to an increase in celebrations and planning for events like Halloween.