The value added of advertising and market research in Brazil exhibited steady growth from 2013 through 2023, with an incremental increase bringing the 2023 value to 50.08 billion Brazilian Reals. Despite minor fluctuations, the overall trend has been positive, particularly since 2017. The year-on-year growth in 2022 and 2023 was 4.82% and 4.55% respectively, indicating a consistent uptrend. Over the last five years, the compound annual growth rate (CAGR) averaged at 5.23%.
Looking forward, the forecasted data from 2024 to 2028 suggest a continued increase, albeit at a slower pace. The projected 5-year CAGR is 3.03%, leading to a cumulative growth rate of 16.11% over this period, reaching 60.65 billion Brazilian Reals by 2028. This indicates a moderate but sustained expansion in the Brazilian advertising and market research industry.
Future trends to watch for:
- Digital transformation and technology advancements impacting advertising strategies.
- Increased focus on data analytics within market research.
- Potential regulatory changes affecting the industry landscape.
- Shifts in consumer behavior post-pandemic.
- The rise of new advertising platforms, particularly in digital and social media spaces.
