The Value Added of Advertising and Market Research in Belgium saw a fluctuating trend from 2013 to 2023, standing at 1.65 Billion Euros in 2023. The sector experienced notable growth phases, particularly in 2016 with a 7.67% year-on-year increase, and a significant dip in 2020 by -5.2% due to external factors presumably linked to the global pandemic. However, modest recovery was observed in 2021 with a 5.45% increase. The average annual growth (CAGR) over the last five years has been 0.75%.
Future trends to watch for include:
- Continued, moderate value growth projected at 1.7 Billion Euros by 2027 and 1.71 Billion Euros by 2028.
- A five-year forecasted CAGR of 0.58%, indicating steady but slow growth.
- Impact of digital transformation and data analytics advancements on market research methodologies.
