The production value of advertising and market research in Belgium experienced fluctuations between 2013 and 2023, beginning at €5.6 billion in 2013 and falling to €4.83 billion in 2023. The decline was more pronounced from 2018 onward, highlighted by a significant drop of 17.09% in 2020, reflected in a negative Compound Annual Growth Rate (CAGR) of -1.24% over the last five years. Despite a partial recovery of 19.09% in 2021, values continued to decrease steadily year-on-year by 1.13% over the following two years. Forecasts indicate a continuing downward trend with a projected 0.98% decrease annually over the next five years, bringing the value to €4.54 billion by 2028.

Future trends to watch for:

Increasing digitalization within the advertising sector may drive new growth opportunities.
Transnational partnership and innovative research methodologies could impact market dynamics.
Changes in regulatory environments and privacy laws may pose challenges to traditional advertising and market research.