The global influencer marketing industry is expanding rapidly, with market size projected to grow from USD 21.10 billion in 2023 to USD 67.22 billion by 2032, representing a compound annual growth rate (CAGR) of 13.74% from 2024 to 2032. As brands increasingly look to social media influencers on platforms like Instagram and YouTube to promote products and services, the practice of influencer marketing has transformed from a niche within fashion and beauty to a powerful advertising tool across diverse sectors, including technology, travel, health, and finance.

Influencer marketing’s appeal lies in its ability to forge authentic brand connections, achieve higher engagement rates, and leverage consumer trust in peer recommendations. These elements help brands enhance their social media presence, elevate content quality, and facilitate collaborative campaigns, such as co-created content and live shopping events. Recent trends underscore the rising prominence of nano and micro-influencers, whose smaller but highly engaged audiences provide value for targeted campaigns. Diversity, inclusion, and values-based messaging have also become crucial, as consumers increasingly support brands aligned with social causes.

1.      Market Outlook

1   1  Market Snapshot

1   2  Market Definition

1   3  Key Takeaways

2. Market Statistics

2.1 Influencer Marketing Size From 2017 to 2032 (in USD Billion)

2.2 India’s influencer market size from 2022 to 2023 (in USD Million)

2.3 US Influencer Marketing Spend From 2017 to 2027 (in USD Billion)

2.4 Global Users of the platform in 2024 (In Million)

2.5 Most Popular Way to Pay influencers IN 2022 AND 2023

2.6 Instagram Annual Revenue From 2017 to 2023 (in USD Billion)

2.7 Number of Instagram Monthly Active Users in 2024

2.8 Instagram Users in India in 2024

2.9 Global Number of Instagram Users in Million (2024)

2.10 Most Preferred Platforms to Consume Content from Influencers in India (in 2023)

2.11 Agencies currently play a critical role in implementing influencer marketing strategies in 2023

2.12 Digital Advertising Spending Worldwide from 2021 to 2026 (in USD Billion)

2.13 Digital Ad Spending Worldwide from 2019 to 2024 (In USD Billion)

2.14 Influencers are Done Based on Their Follower Count

2.15 Share of Marketers That Use Influencer Marketing From 2021 to 2025