Influencer Advertising - Belgium | Statista Market Forecast

In Belgium, ad spending in the Influencer Advertising market is forecasted to reach US$102.90m in 2024.
The anticipated annual growth rate (CAGR 2024-2030) for ad spending is 7.71%, leading to an estimated market volume of US$160.60m by 2030.
The average ad spending per internet user in the Influencer Advertising market is projected to be US$9.75 in 2024.
When compared globally, China is expected to have the highest ad spending with US$19.16bn in 2024.
In Belgium, Influencer Advertising is rapidly growing, with brands increasingly leveraging local influencers to reach targeted audiences effectively.

Definition:
Influencer Advertising refers to advertising that allows marketers to promote products or services by collaborating with influencers on social media. Influencer Advertising allows marketers to reach targeted audiences based on the influencer’s performance and their follower profiles; they also have the ability to measure the performance of campaigns. Influencer Advertising refers to all advertising fees paid directly to influencers (or to their person of trust or representative) for posting or streaming sponsored content (e.g., posts, videos, and/or stories) on social media to promote products or services to their followers. This sponsored content typically includes images, videos, live streams, and/or text.

Additional information:
Influencer Advertising comprises advertising spending, users, and average revenue per user. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. For more information on the data displayed, use the info button right next to the boxes.

Advertising spending paid directly to influencers to post sponsored content

The values of giveaway products as well as services that influencers receive in exchange for reviews, mentions, or giveaways for their followers
Advertising spending allocated to paid social media campaigns to boost content
Affiliate commissions, i.e., the commissions that are paid to influencers when someone makes a purchase based on their content or links
Gross merchandise volume (GMV) of transactions from sponsored posts or live streams

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.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Influencer marketing has become one of the most popular and effective forms of online marketing. With millions of internet users browsing social media platforms for entertainment, inspiration, and product recommendations daily, it is no surprise that marketers are harnessing the power of social media’s most recognizable faces for promotion. The global influencer marketing market value stood at 21.1 billion U.S. dollars as of 2023, having more than tripled since 2019. As influencer endorsement continues to mature as an industry, the size and value of influencer marketing platforms also continue to expand every year, making collaborations between brands and creators more profitable than ever.