Market Insights Advertising & Media Advertising

Influencer Advertising - China

China

Ad spending in the Influencer Advertising market in China is forecasted to reach €17.77bn in 2024.
The expected annual growth rate (CAGR 2024-2029) of ad spending is 10.63%, leading to a projected market volume of €29.45bn by 2029.
The average ad spending per internet user in the Influencer Advertising market China is projected to be €14.49 in 2024.
When comparing globally, China is expected to generate the highest ad spending in 2024 (€17.77bn).
In China, Influencer Advertising is rapidly evolving, with a focus on leveraging key opinion leaders to drive brand engagement and consumer trust.

Key regions: Australia, Germany, France, Europe, United States

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Analyst Opinion

Influencer Advertising is a rapidly growing industry in China, driven by the increasing popularity of social media platforms and the rising influence of online personalities.

Customer preferences: Chinese consumers are increasingly turning to social media platforms for entertainment, information, and product recommendations. Influencers, also known as Key Opinion Leaders (KOLs), have gained a significant following on platforms such as Weibo, WeChat, and Douyin (also known as TikTok). These influencers have the ability to shape consumer opinions and drive purchasing decisions. Chinese consumers trust the recommendations of influencers, as they perceive them as authentic and relatable. They value the personal connection and trust that is built between influencers and their followers.

Trends in the market: The Influencer Advertising market in China has experienced exponential growth in recent years. Brands are recognizing the power of influencer marketing and are allocating a larger portion of their marketing budgets towards this channel. There is a growing trend of brands partnering with multiple influencers to reach a wider audience and increase brand exposure. Additionally, there has been a shift towards micro-influencers, who have a smaller but more engaged and niche following. This allows brands to target specific consumer segments effectively.

Local special circumstances: China has a unique social media landscape, with platforms such as Weibo and WeChat dominating the market. Weibo, often referred to as the Chinese Twitter, has a large user base and is a popular platform for influencer marketing. WeChat, on the other hand, is a messaging app that also serves as a social media platform. It allows influencers to create and share content with their followers, as well as facilitate e-commerce transactions. Douyin, the Chinese version of TikTok, has also gained immense popularity in recent years, especially among younger demographics. Brands are leveraging the reach and engagement of these platforms to connect with their target audience.

Underlying macroeconomic factors: China's booming e-commerce industry has played a significant role in the growth of influencer advertising. With the rise of online shopping, consumers are increasingly relying on influencers to provide product recommendations and reviews. The Chinese government's push for digitalization and the widespread adoption of smartphones have also contributed to the growth of influencer marketing. Additionally, the increasing disposable income of Chinese consumers has led to a greater willingness to spend on luxury goods and experiences, creating opportunities for brands to collaborate with influencers in these segments. In conclusion, the Influencer Advertising market in China is thriving due to customer preferences for authentic and relatable content, the increasing use of social media platforms, and the unique characteristics of the Chinese market. Brands are capitalizing on these trends by partnering with influencers to reach their target audience effectively. As China's digital landscape continues to evolve, influencer advertising is expected to play an even more significant role in the marketing strategies of brands operating in the country.

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.