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Research Outline
Prepared for Bryan G. | Delivered April 21, 2020
Canadian Market Sizing for Influencer Marketing
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Goals
To determine the current market size and growth for the influencer marketing industry in Canada.
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Early Findings
The global influencer marking sector was valued at $
5.5 billion
in 2019 and projected to reach $
22.3 billion
by 2024.
The global influencer marketing industry is also projected to grow at a CAGR of
32.4 percent
between 2019 and 2024.
According to HypeBeast, about
35 percent
of Canadians between the ages of 18 and 35 have purchased an item because of an influencer’s endorsement.
The North American region emerged as the
largest regional market
for influencer marketing in 2018, with the US market generating a total of
$1.01 billion
in influencer marketing revenue in 2016.
The North American region is also poised for
further growth
over the next few years as influencer marketing companies in Canada are yet to explore influencer marketing to its
full potential
as compared to the U.S.
Overall, advertisers in Canada spent a total of
$6.79 billion
on digital ad formats in 2019. This includes mobile ad spend, video ad spend, and other categories such as influencer marketing.
Globally, Instagram is the preferred platform for influencer marketing. About four in five (
79%
) brands use Instagram for influencer campaigns, compared with Facebook (
46%
), YouTube (
36%
), Twitter (
24%
), and LinkedIn (
12%
).
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