2025年全球及中国IP授权行业：情绪消费崛起，行业扩容可期

Investment Rating - The report indicates a positive investment outlook for the IP licensing industry, highlighting the expected growth driven by emotional consumption and cultural confidence in China [2][5][20]. Core Insights - The Chinese IP licensing market is projected to grow from 91 billion yuan in 2020 to 126.2 billion yuan in 2024, with a CAGR of 8.5%, and is expected to exceed 160 billion yuan by 2029 [5][29]. - The global IP licensing market is anticipated to expand from 255.4 billion USD in 2020 to 363.6 billion USD in 2024, with a CAGR of 9.2%, potentially surpassing 420 billion USD by 2029 [20][21]. Summary by Sections Development Prospects - The high-quality development of China's IP licensing market is crucial for enhancing national cultural soft power and confidence. The game IP market, exemplified by "Black Myth: Wukong," has shown strong growth, with over 23 million copies sold and total revenue exceeding 1.01 billion USD as of January 2025 [2][4][10]. Competitive Landscape - The global IP licensing industry is characterized by high concentration, with the top five companies (Disney, ABG Group, Warner Bros, Hasbro, and Universal Pictures) holding a combined market share of 36.7% [6][30][32]. Development Trends - The Chinese IP licensing industry is witnessing three major trends: the rise of emotional consumption, increased willingness to pay among consumers, and a strong push for IP expansion into international markets [4][34]. - The market for peripheral products related to popular IPs, such as "Guzi" (goods), is rapidly expanding, driven by the growing popularity of ACG (Anime, Comic, and Game) culture [11][15]. Market Size and Growth - The Chinese IP licensing market is expected to continue its growth trajectory, with projections indicating a market size of over 160 billion yuan by 2029, supported by the booming cultural industry and rising consumer demand for unique IP products [23][29]. - The global IP licensing market is also set for significant growth, with a focus on sectors like fashion, food and beverage, and toys, which are expected to drive future expansion [20][21][30].