Casual Dating - Singapore

Singapore

Highlights

Revenue in the Casual Dating market is projected to reach US$1.49m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 3.03%, resulting in a projected market volume of US$1.68m by 2028.
In the Casual Dating market, the number of users is expected to amount to 46.8k users by 2028.
User penetration will be 0.7% in 2024 and is expected to hit 0.8% by 2028.
The average revenue per user (ARPU) is expected to amount to US$35.27.
In global comparison, most revenue will be generated United States (US$293.80m in 2024).
With a projected rate of 4.5%, the user penetration in the Casual Dating market is highest United States.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Casual Dating market in Singapore is experiencing significant growth and development due to changing customer preferences and trends in the market.

Customer preferences: Customers in Singapore are increasingly turning to casual dating as a way to meet new people and explore romantic relationships without the commitment of a traditional long-term partnership. This shift in preferences can be attributed to several factors, including the growing acceptance of casual relationships in society, the desire for more flexibility and freedom in personal lives, and the increasing popularity of online dating platforms.

Trends in the market: One of the key trends in the Casual Dating market in Singapore is the rise of online dating platforms. These platforms provide a convenient and accessible way for individuals to connect with potential partners, offering a wide range of features and options to cater to different preferences. The popularity of online dating platforms is driven by factors such as the ease of use, the ability to connect with a larger pool of potential partners, and the availability of advanced matching algorithms that help users find compatible matches. Another trend in the market is the increasing emphasis on casual and non-committal relationships. Many individuals in Singapore are prioritizing their personal and professional goals, and are opting for casual dating as a way to meet their romantic needs without compromising their other commitments. This trend is also influenced by the changing societal norms and attitudes towards relationships, with casual dating becoming more accepted and normalized.

Local special circumstances: Singapore is a cosmopolitan city with a diverse population, which contributes to the growth of the Casual Dating market. The city-state attracts expatriates and professionals from around the world, creating a multicultural environment where individuals are more open to exploring different types of relationships. Additionally, the fast-paced lifestyle and high-stress levels in Singapore may also contribute to the popularity of casual dating, as individuals seek a way to relax and unwind without the pressures of a committed relationship.

Underlying macroeconomic factors: The strong economy and high disposable income levels in Singapore also play a role in the development of the Casual Dating market. With a high standard of living and a culture that values experiences and enjoyment, individuals in Singapore are more willing to spend on leisure activities, including casual dating. The availability of various entertainment options, such as restaurants, bars, and events, further supports the growth of the market. In conclusion, the Casual Dating market in Singapore is experiencing growth and development due to changing customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. As casual dating becomes more accepted and popular, online dating platforms and the emphasis on non-committal relationships are driving the market forward. The multicultural environment and high disposable income levels in Singapore also contribute to the growth of the market.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.