Market Insights Advertising & Media Advertising

Influencer Advertising - Mexico

Mexico

Ad spending in the Influencer Advertising market in Mexico is forecasted to reach US$308.10m in 2024.
The expected annual growth rate (CAGR 2024-2029) for ad spending is 10.86%, leading to a projected market volume of US$515.90m by 2029.
The average ad spending per internet user in the Influencer Advertising market in Mexico is projected to be US$3.02 in 2024.
When compared globally, China is anticipated to generate the highest ad spending in 2024, amounting to US$19,160.00m.
In Mexico, Influencer Advertising is experiencing a surge in demand as brands seek authentic connections with consumers through social media personalities.

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

Market

Region

Region comparison

Currency

Analyst Opinion

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.

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.