The Rise of Asian Animation: How Korea and China Are Taking Market Share from Hollywood

If ten years ago animation was primarily associated with Hollywood and Japan, today the center of gravity is gradually shifting toward Asia. The global animation and VFX market already exceeds $390 billion, and analysts predict it could grow to $580 billion by 2030. An increasingly large share of this market is being captured by China and South Korea.

China’s animation market is now valued at over $30 billion. Domestic releases regularly generate hundreds of millions at the box office, while strong government support and investment in local franchises allow studios to rely less on imported content. Chinese streaming platforms are heavily funding original projects, building local universes and long-term intellectual property.

South Korea is taking a different path — focusing on exports. According to KOCCA, the country’s cultural content exports surpassed $13 billion in 2023, with animation among the fastest-growing segments. Platforms like Netflix are actively acquiring Asian projects as audiences increasingly look for new visual styles and storytelling approaches.

For the creative industry, the message is clear: success no longer depends on having the most studios, but on systematically investing in intellectual property and thinking globally from the very beginning.