Market Insights Advertising & Media Advertising

Influencer Advertising - Belgium

Belgium

In Belgium, ad spending in the Influencer Advertising market is forecasted to reach €95.39m in 2024.
The anticipated annual growth rate (CAGR 2024-2029) for ad spending is 8.30%, leading to an estimated market volume of €142.10m by 2029.
The average ad spending per internet user in the Influencer Advertising market is projected to be €9.05 in 2024.
When compared globally, China is expected to have the highest ad spending with €17,770.00m in 2024.
In Belgium, Influencer Advertising is rapidly growing, with brands increasingly leveraging local influencers to reach targeted audiences effectively.

Key regions: Australia, Germany, France, Europe, United States

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Analyst Opinion

The Influencer Advertising market in Belgium has been experiencing significant growth in recent years.

Customer preferences: Belgian consumers have shown a strong preference for influencer advertising, as they value authenticity and personal recommendations. Influencers are seen as trusted sources of information and their endorsements carry a lot of weight in the purchasing decisions of consumers. Additionally, with the rise of social media platforms, such as Instagram and YouTube, influencers have gained a large following and have become influential figures in the lives of many Belgians.

Trends in the market: One of the key trends in the Belgian Influencer Advertising market is the increasing use of micro-influencers. These are individuals with a smaller following, typically between 1,000 and 10,000 followers, who have a highly engaged audience. Brands are recognizing the value of micro-influencers as they often have a more niche and targeted audience, resulting in higher conversion rates for their advertising campaigns. Another trend in the market is the shift towards video content. Video platforms, such as YouTube, have gained popularity among Belgian consumers, and brands are leveraging this trend by partnering with influencers who create video content. Video content allows for more engaging storytelling and provides a deeper connection between the influencer and their audience, leading to increased brand awareness and loyalty.

Local special circumstances: Belgium has a highly developed influencer marketing industry, with many local agencies and platforms specializing in connecting brands with influencers. These agencies provide a range of services, including influencer selection, campaign management, and performance tracking. This local expertise has contributed to the growth of the influencer advertising market in Belgium. Additionally, the Belgian Advertising Council has established guidelines and regulations for influencer advertising to ensure transparency and protect consumers. Influencers are required to clearly disclose any sponsored content and are encouraged to provide honest and genuine recommendations. This regulatory framework has helped to build trust between influencers, brands, and consumers, further fueling the growth of the market.

Underlying macroeconomic factors: The growth of the Influencer Advertising market in Belgium can also be attributed to the country's strong economy and high internet penetration rate. Belgium has a stable economy and a high standard of living, which has resulted in increased consumer spending. With a large portion of the population being active internet users, brands are turning to influencer advertising as an effective way to reach and engage with their target audience. In conclusion, the Influencer Advertising market in Belgium is experiencing significant growth due to customer preferences for authenticity and personal recommendations, the use of micro-influencers and video content, the presence of local agencies and platforms, and the country's strong economy and high internet penetration rate. These factors have contributed to the success of influencer advertising campaigns in Belgium and are expected to continue driving the growth of the market in the future.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on influencer advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers advertising fees paid directly to influencers to post sponsored content.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from independent databases, influencer marketing platforms, and third-party reports to analyze and estimate global influencer advertising spending. We start by researching on the average cost per content post on each social media platform, the number of influencers available on advertising platforms (breakdown by tier: nano, micro, macro, and mega), and the average number of posts per year. Then we estimate the market size for each country individually. We use relevant key market indicators and data from country-specific industry associations, such as GDP, social media users, and digital consumer spending. Lastly, we benchmark key countries or regions (global, United States, China, etc.) with external sources.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.