Influencer Advertising - Ukraine | Statista Market Forecast

In Ukraine, ad spending in the Influencer Advertising market is forecasted to reach US$15.32m by 2024.
The sector is anticipated to display an annual growth rate (CAGR 2024-2030) of 11.83%, leading to an estimated market volume of US$29.96m by 2030.
The projected average ad spending per internet user in the Influencer Advertising market is US$0.41 in 2024.
When compared globally, China is expected to lead in ad spending, reaching US$19.16bn in 2024.
In Ukraine, Influencer Advertising is rapidly gaining traction, with brands leveraging local social media personalities to engage with the tech-savvy population.

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 Ukraine is experiencing significant growth and development. Customer preferences are shifting towards influencer marketing as a more effective and authentic way to reach their target audience. This trend is driven by several factors, including the rise of social media platforms, changing consumer behavior, and the increasing importance of online presence for businesses.

Customer preferences: In Ukraine, customers are increasingly turning to social media platforms for entertainment, information, and inspiration. As a result, businesses are recognizing the potential of influencer marketing to connect with their target audience in a more meaningful way. Influencers are seen as trusted individuals who can provide authentic recommendations and reviews, making them a valuable asset for brands looking to build credibility and engage with consumers.

Trends in the market: One of the key trends in the Influencer Advertising market in Ukraine is the growing popularity of micro-influencers. These are individuals with a smaller but highly engaged following, often within a specific niche or industry. Micro-influencers are perceived as more relatable and trustworthy, making their recommendations more influential. Brands are increasingly partnering with micro-influencers to promote their products or services, leveraging their loyal and engaged audience. Another trend in the market is the diversification of influencer content. Influencers in Ukraine are expanding beyond traditional platforms like Instagram and YouTube, and are exploring new formats such as podcasts, TikTok, and live streaming. This allows them to reach a wider audience and engage with consumers in different ways. Brands are adapting their influencer marketing strategies to align with these evolving content trends, ensuring they stay relevant and reach their target audience effectively.

Local special circumstances: Ukraine has a rapidly growing e-commerce market, with more consumers opting to shop online. This shift in consumer behavior has created opportunities for influencer marketing, as consumers are increasingly relying on influencer recommendations and reviews to make purchasing decisions. Influencers are seen as trusted sources of information, and their endorsements can significantly impact consumer behavior. Additionally, Ukraine has a strong influencer community, with a wide range of content creators across various niches. This diversity allows brands to find influencers that align with their target audience and brand values, enabling more effective and targeted influencer campaigns.

Underlying macroeconomic factors: The overall growth and development of the Influencer Advertising market in Ukraine can be attributed to several macroeconomic factors. The country has experienced economic stability and growth in recent years, leading to increased consumer spending power. This has resulted in a larger market for influencer advertising, as businesses have more resources to invest in marketing and promotional activities. Furthermore, the widespread adoption of smartphones and internet access has made influencer marketing more accessible to a larger audience. With more people having access to social media platforms, influencers have a broader reach and can connect with a larger audience. This has created a favorable environment for influencer marketing to thrive in Ukraine. In conclusion, the Influencer Advertising market in Ukraine is experiencing growth and development due to changing customer preferences, including the rise of social media platforms and the increasing importance of online presence for businesses. The market is characterized by the growing popularity of micro-influencers and the diversification of influencer content. Ukraine's rapidly growing e-commerce market and strong influencer community contribute to the success of influencer advertising in the country. The overall macroeconomic factors, such as economic stability and widespread smartphone and internet access, further support the growth of the market.

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.