The turnover in the advertising and market research sector in Belgium has shown a marked decline over the past decade. In 2023, the turnover stood at 1.15 billion Euros. From 2013 to 2023, the sector experienced significant fluctuations with sharp drops particularly from 2018 onwards. The sector saw a consistent decline from 2018 (-18.02%) through to 2020 (-12.03%) before a slight recovery in 2021 (+14.75%), only to decline again thereafter. The CAGR for the period from 2018 to 2023 was -6.9%, indicating a steady negative growth trajectory.
Looking forward, the forecasted turnover continues to decline, reaching 0.82931 billion Euros by 2028. The anticipated CAGR from 2024 to 2028 is -5.16%, with an overall projected growth rate decline of -23.28% over the next five years. This trend suggests ongoing challenges for the sector.
Future trends to watch for include:
- The impact of emerging digital advertising technologies and data analytics on market research turnover.
- The potential resurgence of traditional advertising platforms.
- Changes in consumer behavior and preferences influencing advertising strategies.
- Regulatory impacts on advertising content and data privacy concerns.
