The industry is expected to grow at a CAGR of 25% till 2025
The Indian influencer marketing industry is estimated to reach a value of Rs 900 crore by the end of 2021, according to GroupM INCA’s India Influencer Marketing Report. The market is expected to grow at a compound annual growth rate (CAGR) of 25% till 2025 to reach a size of Rs 2,200 crore, the report added. “Over the last few years, brands have shown significant interest in influencer marketing. The pandemic has accelerated the adoption of influencer marketing by brands making it an integral part of the brand marketing strategy and is now an important part of our media mix recommendation to brands,” Prasanth Kumar, CEO, GroupM South Asia, said.
“The key factor that has got brands interested is the bond of trust and authenticity that influencers share with their audiences, thus helping brands associate with an influencer to leverage the same. This report is our effort to help marketers understand various aspects of influencer marketing in the country. Consumer behaviour is changing at a fast pace, and we want to empower marketers with the knowledge that can help them,” Kumar added.
GroupM’s brand-safe influencer and content marketing solution unit INCA has released ‘The India Influencer Marketing Report’ on Friday. As per the report, personal care (25%), F&B (20%), fashion and jewellery (15%) and mobile and electronics 10% are the top four categories that contribute to 70% volume of influencer marketing. Besides, celebrities account for 27% of influencer marketing spends while influencers account for 73%. Furthermore, nearly two-thirds of the Indian population follow an influencer.
100% of marketing leaders have agreed that influencer marketing was a high or top priority for their marketing calendar for 2021, as per INCA influencer marketing survey. The survey has also found that the 50% of respondents are set to increase influencer marketing spends by 25-36%.
“Influencer marketing industry is at a point of inflexion and can take off, subject to the industry initiating to measure, quantify and make investments in influencer marketing accountable. The ‘India Influencer Marketing Report’ is GroupM and INCA’s attempt to do the same,” Ashwin Padmanabhan, president, partnerships and trading, GroupM India, stated.