Matchmaking - Ghana

Ghana

Highlights

Revenue in the Matchmaking market is projected to reach US$2.19m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.09%, resulting in a projected market volume of US$2.20m by 2028.
In the Matchmaking market, the number of users is expected to amount to 128.9k users by 2028.
User penetration will be 0.4% in 2024 and is expected to hit 0.4% by 2028.
The average revenue per user (ARPU) is expected to amount to US$18.29.
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 Ghana is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Ghanaians are increasingly turning to matchmaking services to find compatible partners. This shift in preferences can be attributed to the changing social dynamics and the desire for more personalized and efficient ways of finding love. Matchmaking platforms offer a convenient and efficient way for individuals to connect with potential partners based on their preferences and compatibility.

Trends in the market: One of the key trends in the matchmaking market in Ghana is the rise of online matchmaking platforms. These platforms provide a digital space for individuals to create profiles, search for potential partners, and communicate with them. The ease of access and the ability to connect with a larger pool of potential partners have made online matchmaking platforms popular among Ghanaians. Another trend in the market is the growing demand for matchmaking services tailored to specific religious or cultural groups. Ghanaians value their cultural and religious backgrounds, and there is a preference for partners who share the same values and beliefs. Matchmaking services that cater to specific religious or cultural groups provide a focused and targeted approach to finding compatible partners.

Local special circumstances: Ghanaian society places a strong emphasis on marriage and family values. Finding a life partner is considered a priority for many individuals, and matchmaking services offer a solution to this need. Additionally, traditional matchmakers have long played a role in Ghanaian society, and the transition to online matchmaking platforms is a natural progression in this market.

Underlying macroeconomic factors: The growing middle class in Ghana has contributed to the development of the matchmaking market. As more Ghanaians attain higher levels of education and disposable income, they are seeking more sophisticated and personalized ways of finding love. Matchmaking services provide a solution that aligns with the aspirations and lifestyles of the emerging middle class. Furthermore, the increasing penetration of smartphones and internet connectivity in Ghana has created a conducive environment for the growth of the online matchmaking market. Ghanaians are increasingly tech-savvy and comfortable using digital platforms for various purposes, including finding romantic partners. In conclusion, the matchmaking market in Ghana is experiencing growth due to changing customer preferences, emerging trends, and local special circumstances. The rise of online matchmaking platforms and the demand for services tailored to specific religious or cultural groups are driving this growth. Additionally, the growing middle class and increasing internet penetration in Ghana are contributing to the development 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.