Market Insights Advertising & Media Advertising

Influencer Advertising - Africa

Africa

Ad spending in the Influencer Advertising market in Africa is forecasted to reach US$182.60m in 2024.
The ad spending is anticipated to demonstrate an annual growth rate (CAGR 2024-2029) of 9.53%, leading to a projected market volume of US$287.80m by 2029.
The average ad spending per internet user in the Influencer Advertising market is estimated to be US$0.25 in 2024.
When compared globally, China is expected to generate the highest ad spending, reaching US$19,160.00m in 2024.
Influencer Advertising in South Africa is rapidly growing, with brands leveraging local influencers to reach diverse audiences effectively.

Key regions: France, China, United Kingdom, United States, India

Market

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Region comparison

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Analyst Opinion

The Influencer Advertising market in Africa is experiencing significant growth and development, driven by changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in Africa are shifting towards digital platforms and social media, with a growing number of people accessing the internet and using smartphones. This has created a large and engaged audience for influencers, making influencer advertising an effective way for brands to reach their target consumers. Additionally, consumers in Africa are increasingly looking for authentic and relatable content, and influencers are seen as trustworthy sources of information and recommendations. Trends in the market show that influencer advertising in Africa is becoming more diverse and inclusive. While initially dominated by celebrities and macro-influencers, there is now a growing demand for micro-influencers and nano-influencers who have smaller but highly engaged audiences. This trend is driven by the desire for more targeted and niche marketing strategies, as well as the need for cost-effective solutions for brands with limited budgets. Local special circumstances in Africa also contribute to the development of the influencer advertising market. The continent is home to a rich and diverse culture, with each country having its own unique traditions, languages, and social dynamics. This creates opportunities for local influencers to connect with their audiences on a deeper level, leveraging their cultural knowledge and understanding. Additionally, Africa has a high youth population, and influencers who cater to this demographic are particularly sought after by brands. Underlying macroeconomic factors further support the growth of the influencer advertising market in Africa. The continent is experiencing rapid urbanization and economic development, leading to an expanding middle class with increased purchasing power. As a result, brands are looking for effective ways to target this growing consumer base, and influencer advertising provides a direct and impactful marketing channel. In conclusion, the Influencer Advertising market in Africa is developing rapidly due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As more people in Africa access the internet and engage with social media, influencer advertising has become an effective way for brands to reach their target consumers. The market is evolving to include a diverse range of influencers, catering to the demand for authentic and relatable content. Local influencers who understand the unique cultural dynamics of each country are particularly sought after. The underlying macroeconomic factors of urbanization and economic development further support the growth of the influencer advertising market in Africa.

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.