Press Release

South Korea Fashion Influencer Marketing Market to Reach Around USD 10.31 Million by 2032, Aided by The Presence of Koreans on Social Media Platforms.

South Korea Fashion Influencer Marketing Market

According to a new report by EMR titled, ‘South Korea Fashion Influencer Marketing Market Report and Forecast 2024-2032’, the market attained a value of about USD 2.46 billion in 2023. The market is estimated to grow at a CAGR of 17.3% in the forecast period of 2024-2032 to reach a value of around USD 10.31 million by 2032.

South Korea is ranked 2nd with the largest number of active social media users globally. 38.4 million people out of 52 million are active users on social media platforms such as Instagram, Facebook, and YouTube. The most frequently used social media sites in South Korea are YouTube, KakaoTalk, and Facebook (NASDAQ: META). Hence, the rising social media usage in the country is aiding the South Korea fashion influencer marketing market expansion.

 

Businesses in South Korea find it a lucrative opportunity to promote their businesses through fashion influencers to gain consumer attention. Brands urge such influencers to showcase their clothes or other products at fashion shows, designer dinners, events, special excursions, and social media picture shoots, and sometimes it involves paid sponsorships. Some of the most-followed influencers include lomon991111 with 6.5 million followers, Leeyoum262 with 6.4 million followers, and Yujin_an with 5.9 million followers.

 

In February 2024, iKala Interactive Media Inc., a leading AI transformation solutions provider, updated its AI influencer marketing service, KOL Radar, to include important updates such as "Audience Authenticity Detection," "Competitor Analysis," and the integration of "New Korean Influencer Data." These services help brands gain valuable AI-driven data from an expanding database of around 3 million influencers across eight Asian countries. The service platform KOL Radar included 700,000 Korean influencer profiles from Instagram in March 2024. This enables brand owners to better understand influencer marketing trends and key areas, grow into new international markets, and lower barriers to cross-border business by using AI influencer data. It also gives them access to influencer data that is particular to their target markets.

 

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Market Analysis by Influencer Type and Fashion Type:

  • The market, on the basis of influencer type, can be segmented into mega influencers, macro influencers, micro influencers, and nano influencers.
  • Based on fashion type, the market can be segmented into beauty and cosmetics, apparel, and jewelry and accessories.

 

Key Findings of the Report:

  • In South Korea, 86% of women pursue social media sites prior to making a purchase, and 71% of Korean customers are more inclined to base a purchase decision on a recommendation from social media. As a result, brands are frequently incorporating influencers to gain market share, which is expanding the South Korea fashion influencer marketing market growth.
  • In 2021, there were 13 million users on Instagram in South Korea. Brands often incorporate fashion influencers to promote their products by reviewing and sharing their experiences with viewers. Prominent beauty influencers include Glow with Ava, Risabae, and Pony Syndrome.
  • The smartphone penetration rate is 95% and in Q1 of 2024, there were 50.30 million internet users, with a 97.2 per cent internet penetration rate. The high smartphone and internet penetration rate drives fashion influencer marketing market growth in South Korea.
  • The growing popularity of K-Pop and K-culture further influences brands to increase promotions with celebrity influencers with massive followers, such as Jimin with 53.1 million followers, Lee-Min-Ho with 35.1 million followers, and Ji Chang Wook with 27.1 million followers. A few brands that incorporated celebrity influencers include Fendi, BOSS, Armani and CUCKOO.

 

Key Offerings of the Report:

  • The EMR report gives an overview of the South Korea fashion influencer marketing market for the periods (2018-2023) and (2024-2032).
  • The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the influencer types and fashion types of fashion influencer in South Korea.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

 

The major players in the South Korea fashion influencer marketing market are Lotte Group (Daehong Communication), Hashmeta Pte Ltd., AXJ International Pte Ltd, Market It Co., Ltd., S Marketing & Communications Co,.Ltd, The SMC Group, and Admax Co., Ltd. among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Influencer Type
  • Fashion Type
Breakup by Influencer Type
  • Mega Influencers
  • Macro Influencers
  • Micro Influencers
  • Nano Influencers
Breakup by Fashion Type
  • Beauty and Cosmetics
  • Apparel
  • Jewelry and Accessories
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Lotte Group (Daehong Communication)
  • Hashmeta Pte Ltd.
  • AXJ International Pte Ltd
  • Market It Co., Ltd.
  • S Marketing & Communications Co,.Ltd
  • The SMC Group
  • Admax Co., Ltd.
  • Others

 

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