Influencer Advertising - EU-27 | Statista Market Forecast

Ad spending in the Influencer Advertising market in EU-27 is forecasted to reach US$3.08bn in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2030) of 7.84%, resulting in a projected market volume of US$4.85bn by 2030.
The average ad spending per internet user in the Influencer Advertising market in EU-27 is projected to be US$7.96 in 2024.
In global comparison, the highest ad spending is expected China (US$19.16bn in 2024).
In the EU-27, Influencer Advertising is seeing a shift towards micro-influencers for targeted and authentic brand collaborations in the market.

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 EU-27 is experiencing significant growth and development due to shifting customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in the EU-27 region are increasingly turning to social media platforms for entertainment, information, and inspiration. The rise of social media influencers has created a new avenue for brands to reach their target audience in a more authentic and engaging way. Customers are drawn to influencers who share relatable content and have a strong online presence. They value transparency, authenticity, and personal connections with influencers. As a result, influencer advertising has become an effective marketing strategy for brands to connect with their customers on a more personal level.

Trends in the market: One of the key trends in the Influencer Advertising market in EU-27 is the rise of micro-influencers. These are individuals with a smaller but highly engaged audience. Brands are realizing the benefits of working with micro-influencers as they often have a more niche and loyal following, resulting in higher engagement rates and better conversion rates. This trend is driven by customers' desire for more genuine and relatable content from influencers. Another trend in the market is the increasing use of video content. Customers in the EU-27 region are consuming more video content than ever before, and influencers are leveraging this trend by creating engaging video content. Brands are partnering with influencers to create sponsored videos that showcase their products or services in an entertaining and informative way. This trend is fueled by the growing popularity of platforms like YouTube and TikTok.

Local special circumstances: The Influencer Advertising market in EU-27 is also influenced by local special circumstances. Each country within the EU-27 has its own unique cultural, social, and economic factors that shape the influencer landscape. For example, countries like Germany and France have stricter regulations when it comes to influencer advertising, requiring influencers to clearly disclose sponsored content. This has led to greater transparency and trust in influencer marketing in these countries. Furthermore, the EU-27 region is known for its diverse languages and cultures. This presents both opportunities and challenges for brands and influencers. Brands need to carefully select influencers who can effectively communicate with their target audience in their local language and resonate with their cultural values. This localization strategy is crucial for the success of influencer advertising campaigns in the EU-27 region.

Underlying macroeconomic factors: The growth of the Influencer Advertising market in EU-27 is also influenced by underlying macroeconomic factors. The region has a strong digital infrastructure and high internet penetration rates, which provide a solid foundation for influencer marketing. Additionally, the increasing popularity of e-commerce in the EU-27 region has created new opportunities for influencer advertising. Customers are more likely to make purchase decisions based on recommendations from influencers they trust. Furthermore, the COVID-19 pandemic has accelerated the growth of the influencer advertising market in the EU-27 region. With lockdowns and social distancing measures in place, people have turned to social media for entertainment and connection. This has led to increased engagement with influencers and higher demand for influencer advertising. Brands have recognized the importance of digital marketing during these challenging times and have shifted their advertising budgets towards influencer marketing. In conclusion, the Influencer Advertising market in EU-27 is experiencing growth and development due to shifting customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Brands are leveraging the power of influencers to connect with their target audience in a more authentic and engaging way. As the market continues to evolve, it is essential for brands to adapt their strategies to the unique characteristics of each country within the EU-27 region.

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.