Fashion Influencer Marketing Market

The Global Fashion Influencer Marketing Market size was valued at USD 3.75 Billion in 2022 and is expected to surpass USD 58.51 Billion by 2031, expanding at a CAGR of 35.7% during the forecast period, 2023 – 2031. The growth of the market is attributed to the rising growing popularity of social media applications such as TikTok and Instagram Reels.

Several fashion brands are implementing influencer marketing strategies to make the most of their reach and capture huge number of audiences. Companies are largely investing in marketing campaigns with the help of technical disruption in marketing strategies and advertising practices. Also, this aids for getting huge return on investment (ROI). The fashion influencer marketing helps various fashion brands for enhancing their reach and promoting products with innovative ways as per brand values.

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Globally, increasing usage of social media platform is rising the benefits of influencer marketing of fashion brands. Moreover, lower charges of internet in countries including France, Italy, India, and Poland boosts the usage of data services among people which results in enhancement of social media. Huge penetration and use of social medias such as Facebook and Instagram by many people and requirement of adoption of fast fashion are inspiring brands for more investment in this market. People from age group of 18 to 34 widely uses Instagram, which is extensively used for advertising products by fashion influencers.

For better identification of audience choices and indulge in product sales, the fashion influencers gives alternative channels to companies. Engagement of users with their choice of influencers is done by using comments, direct messages, and polls by requesting the latter for content creation associated to footwear, jewelry, clothing, cosmetics, and skincare. It supports influencers to understand the customers demand and expectations to brand. Social Search Engine (SSE) and Social Search Optimization (SSO) also helps in increasing opportuning in the market. Both SSE and SSO techniques uses filtering content such as articles, photos, and page descriptions for optimizing content on social media platforms.

Market Trends, Drivers, Restraints, and Opportunities

• Rising popularity of several social media platforms and substantial growth in fashion industry are projected to boost the expansion of the market over the forecast period.

• Increasing adoption of social search engine tools and implementation of influencer marketing strategies are anticipated to drive the growth of the market.

• Growing social media subscribers, increasing smartphone users, and rising demand of the content-based band live interactive video sessions are expected to propel the market growth during the forecast period.

• Increasing investment of companies in marketing campaigns and rising usage of social media platform are estimated to fuel the market growth in the coming years.

• Rising promotion of products in effective and innovative ways, gaining customer trust and create new brand image are projected to drive the expansion of the market.

• Increasing penetration of high-speed internet is one of the factors responsible for propelling the market growth over the forecast period.

• Lack of capabilities to measure campaign effectiveness, and security and privacy concerns are major factors responsible for hampering the expansion of the market in the coming years.

• Increase in number of fake followers is expected to impede the market growth over the forecast period.

Scope of Fashion Influencer Marketing Market Report

The report on the global fashion influencer marketing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Fashion Influencer Marketing Market Segment Insights

Nanoinfluencers segment is projected to hold a major market share

On the basis of influencer types, the fashion influencer marketing market is segmented into megainfluencers, macroinfluencers, microinfluencers, and nanoinfluencers. The nanoinfluencers segment is expected to account for a key share of the market during the forecast period owing to huge rate of engagement and ability to interact with niche audiences. Nanoinfluencers have integrated communities with audiences. Also, assure lower risk of engagement with fake followers which provides leads. Support of nanoinfluencers in marketing provides budget-friendly option for agencies and brands.

However, the microinfluencers segment is anticipated to expand at a rapid pace during the forecast period owing to increasing flexibility in working with them. This segment offers significant conversation rates for the instant promotion of products and services. Microinfluencers segment aids the fashion brands for improvement in trustworthiness which is important in developing customer relationship.

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Apparel segment is expected to expand at a rapid pace

Based on fashion types, the market is divided into beauty & cosmetics, apparel, and jewelry & accessories. The beauty & cosmetics segment is expected to hold a key share of the market during the forecast period due to increasing focus on social media platforms for generation of good brand image and increase the sales. Type of skin, personal preference, and skin tone are influencing the selection of cosmetics. Because of this many people are dependent on influencers right advice through makeup tutorials or promotional videos.

On the other hand, the apparel segment is anticipated to expand at a rapid pace during the forecast period due to increasing popularity of fast fashion among people. Brand-sponsored apparels are generally used by many fashion influencers which inspires their followers to match or create new look and share it on social media using hashtags. E-commerce companies, such as Myntra, is conducting fashion influencer talent shows for increasing interest among consumers.

North America is expected to dominate the market

On the basis of regions, the fashion influencer marketing market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The North America is anticipated to dominate the market during the forecast period. The regional market growth can be attributed to increase in use of social media and high-speed internet. In the US majority of Instagram users are between age group of 18 to 34. Due to this there is a chance to serve the demand of sizeable share of the audience. Moreover, the U.S. Federal Trade Commission (FTC) made a mandate of sponsored posts to be labeled.

However, the market of Europe is expected to exhibit a rapid growth rate in the coming years owing to rising presence of major luxury fashion brands. Also, there are several fashion weeks which aids influencers for showing their outfits and accessories which is anticipated to drive the regional market growth.

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Segments

The global fashion influencer marketing market has been segmented on the basis of

Influencer Types

• Megainfluencers
• Macroinfluencers
• Microinfluencers
• Nanoinfluencers

Fashion Types

• Beauty & Cosmetics
• Apparel
• Jewelry & Accessories

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• AspireIQ
• HYPR Brands
• InfluencerDB
• IZEA
• Klear
• Launchmetrics
• Mavrck
• Upfluence Inc.
• Launchmetrics

Competitive Landscape

Key players competing in the fashion influencer marketing market include InfluencerDB; IZEA; Klear; Launchmetrics; Mavrck; AspireIQ; Upfluence Inc.; Launchmetrics; and HYPR Brands.

Major market players are adopting several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance, in July 2019, an interactive microsite, Insights100, was launched by Launchmetrics. It helps brands for gaining the access of comparative benchmark against their peers by analyzing the effectiveness of investments.