Matchmaking - Caribbean

Caribbean

Highlights

Revenue in the Matchmaking market is projected to reach US$6.87m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of -21.99%, resulting in a projected market volume of US$2.55m by 2028.
In the Matchmaking market, the number of users is expected to amount to 283.4k users by 2028.
User penetration will be 0.7% in 2024 and is expected to hit 0.7% by 2028.
The average revenue per user (ARPU) is expected to amount to US$25.86.
In global comparison, most revenue will be generated China (US$1.21bn in 2024).
With a projected rate of 3.8%, the user penetration in the Matchmaking market is highest South Korea.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Matchmaking market in the Caribbean is experiencing significant growth and development due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Caribbean have shifted towards online matchmaking platforms, driven by the increasing use of smartphones and the internet. People are now more inclined to use online platforms to find potential partners, as it offers convenience and a wider pool of potential matches. Additionally, the younger generation in the Caribbean is more open to the idea of online dating, further fueling the growth of the matchmaking market. Trends in the market show a growing demand for niche matchmaking services in the Caribbean. As people become more specific about their preferences and interests, there is a need for specialized matchmaking platforms that cater to specific demographics or interests. For example, there is a rise in platforms that focus on connecting individuals with shared cultural backgrounds or specific hobbies. This trend reflects the desire for more personalized and targeted matchmaking experiences. Local special circumstances in the Caribbean also contribute to the development of the matchmaking market. The region is known for its vibrant and diverse culture, which creates opportunities for matchmaking platforms to cater to specific cultural preferences. Additionally, the Caribbean is a popular tourist destination, attracting a large number of travelers each year. This presents an opportunity for matchmaking platforms to connect locals with tourists, creating unique and exciting dating experiences. Underlying macroeconomic factors play a role in the growth of the matchmaking market in the Caribbean. The region has experienced economic growth in recent years, resulting in increased disposable income for individuals. As a result, people are more willing to spend on dating services, including matchmaking platforms. Furthermore, the growing middle class in the Caribbean has led to a rise in aspirations for romantic relationships, driving the demand for matchmaking services. In conclusion, the matchmaking market in the Caribbean is developing rapidly due to changing customer preferences, emerging trends in the market, local special circumstances, and underlying macroeconomic factors. Online platforms, niche matchmaking services, cultural preferences, and economic growth all contribute to the growth and expansion of the market. As the Caribbean continues to evolve, the matchmaking industry is expected to thrive and provide innovative solutions for individuals seeking romantic connections.

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.