On September 2023, Frost & Sullivan released its Independent Industry Report on Adult Learning Market in China (the “Report”). Drawing on the Overview of Macro Environment in China, the Report offers a detailed analysis and forward-looking insights into China's rapidly growing Adult Learning Market, outlining the various opportunities and challenges that stakeholders may encounter in Adult Learning Market.
The report reveals compelling data that underscores the surging demand and growth in China's adult learning sector. According to the Report, due to the increasing disposable income and a growing need for personal development of Chinese adults, the market size of China’s adult learning industry in terms of revenue was RMB576.2 billion in 2022, increased from RMB432.9 billion in 2018, representing a CAGR of 7.4% from 2018 to 2022, and is expected to increase to RMB1,043.2 billion in 2027, representing a CAGR of 12.6% from 2022 to 2027.
The Report divides China's Adult Learning Market into two categories: individual adult learning and enterprise professional training. The former caters to the general adult population's learning needs, while the latter focuses on workplace performance improvement. From 2018 to 2022, the revenue for individual adult learning grew from RMB313.5 billion to RMB427.3 billion, a 8.0% CAGR. It's projected to hit RMB792.9 billion by 2027, with a CAGR of 13.2% from 2022-2027.
The report categorizes the Individual Adult Learning Market into four key segments: Personal Interest Learning, Language Learning, College Test Preparation and Professional Training. Personal interest learning is an important part of individual adult learning. In 2022, China’s Personal interest learning market size was RMB153.5 billion, accounting for 35.9% of the individual adult learning market. Impressively, it has held the top position among all segments in this category for four consecutive years. The report underscores the swift expansion of this sector, bolstered by factors such as the Rising awareness on the concept of self-improvement, An Uptick in paying users, and Wider course offering with diversified topics. In terms of revenue for both 2021 and 2022, QuantaSing Group (NASDAQ: QSG) has ranked the first place in China’s adult personal interest learning market for two years running.
Due to technological advancement, online courses of individual adult learning are on a rising trend. The report accentuates among all market players that QuantaSing Group(NASDAQ: QSG) was the largest online individual adult learning service provider in term of revenue in 2022.
In today's fast-changing world with global challenges and swift technological advancements, it's essential for people to keep learning throughout their lives. Lifelong Learning isn't just a luxury but a must. The key skill now isn't just knowledge, but the ability to constantly adapt and learn. In 2022, China edged towards becoming a moderately aging society, and by 2035, it's projected to have over 400 million citizens aged 60 and above, making up 30% of its population. As the country faces this demographic shift, the significance of Senior Adults Learning growing. This focus not only satisfies seniors' intellectual curiosity but also equips them with the skills to navigate our fast-changing world, enhancing their overall well-being. The report underscores the vital role of Senior Adults Learning, predicting the sector's revenue to soar to an estimated RMB120.9 billion by 2027. The report identifies four primary drivers fueling the Senior Adults Learning Market:China's transition to a moderately aging society increases the target population, a heightened desire among senior adults to enhance digital skills and pursue lifelong learning for personal growth, advanced technology and a refined online learning experience, and supported government policies ensuring sustainable and healthy growth.
Looking ahead, since most adults nowadays have limited spare time after daily work, accessibility and easiness of learning becoming some of the most important factors for adults to consider whether they should take courses or not. Also driven by the technological advancement and increased penetration rate of interest users in China, individual adult learning market has shown a notable trend in online learning in the historical period, of which online market will continue to experience a more rapid growth than offline market in the future.
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Company Name: QuantaSing Group Ltd.
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Country: China
Website: https://ir.quantasing.com/
