Influencer Advertising - Mexico | Statista Market Forecast

Ad spending in the Influencer Advertising market in Mexico is forecasted to reach US$308.10m in 2024.
The expected annual growth rate (CAGR 2024-2030) for ad spending is 10.39%, leading to a projected market volume of US$557.70m by 2030.
The average ad spending per internet user in the Influencer Advertising market in Mexico is projected to be US$2.80 in 2024.
When compared globally, China is anticipated to generate the highest ad spending in 2024, amounting to US$19.16bn.
In Mexico, Influencer Advertising is experiencing a surge in demand as brands seek authentic connections with consumers through social media personalities.

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

In recent years, the Influencer Advertising market in Mexico has experienced significant growth and development.

Customer preferences: Mexican consumers have shown a strong affinity for social media platforms, with a large portion of the population actively engaging with influencers. This has created a fertile ground for influencer advertising, as brands seek to capitalize on the trust and influence that these individuals have over their followers. Additionally, Mexican consumers value authenticity and relatability, making influencer advertising an effective way for brands to connect with their target audience.

Trends in the market: One of the key trends in the Mexican influencer advertising market is the rise of micro-influencers. These are individuals with a smaller but highly engaged following, often focusing on niche topics or interests. Brands are increasingly recognizing the value of working with micro-influencers, as they offer a more targeted and intimate connection with their audience. This trend is driven by the desire for authenticity and the need to stand out in a crowded market. Another trend in the Mexican market is the diversification of influencer content. While fashion and beauty influencers have traditionally dominated the market, there has been a shift towards influencers in other sectors such as food, travel, fitness, and technology. This reflects the evolving interests and preferences of Mexican consumers, as well as the growing demand for a wider range of content.

Local special circumstances: Mexico has a large and growing middle class, which has contributed to the increased demand for influencer advertising. As more people gain access to the internet and social media, the potential reach of influencers continues to expand. Additionally, the Mexican market has a strong youth demographic, with a significant portion of the population under the age of 30. This demographic is highly active on social media and is more likely to engage with influencer content.

Underlying macroeconomic factors: The Mexican economy has experienced steady growth in recent years, which has had a positive impact on consumer spending power. This has created a favorable environment for brands to invest in influencer advertising as a means to reach and engage with consumers. Furthermore, the increasing digitalization of the Mexican economy has provided a platform for influencers to showcase their content and connect with their audience. In conclusion, the Influencer Advertising market in Mexico has been driven by customer preferences for social media engagement, authenticity, and relatability. The rise of micro-influencers and the diversification of influencer content are key trends in the market, reflecting the changing interests of Mexican consumers. Local special circumstances, such as a growing middle class and a youthful demographic, have contributed to the market's development. Additionally, underlying macroeconomic factors, including economic growth and digitalization, have created a favorable environment for influencer advertising in Mexico.

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.