Matchmaking - Malawi

Malawi

Highlights

Revenue in the Matchmaking market is projected to reach US$448.80k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 0.56%, resulting in a projected market volume of US$458.90k by 2028.
In the Matchmaking market, the number of users is expected to amount to 53.8k users by 2028.
User penetration will be 0.2% in 2024 and is expected to hit 0.2% by 2028.
The average revenue per user (ARPU) is expected to amount to US$8.86.
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 Malawi is experiencing significant growth and development in recent years.

Customer preferences: Customers in Malawi are increasingly turning to matchmaking services to find potential partners. This is due to several factors, including the convenience and efficiency of online matchmaking platforms. These platforms allow individuals to easily connect with others who share similar interests and values, increasing the likelihood of finding a compatible partner. Additionally, matchmaking services provide a level of privacy and discretion that is appealing to many customers in Malawi, who may prefer to keep their search for a partner confidential.

Trends in the market: One of the key trends in the matchmaking market in Malawi is the rise of online platforms. These platforms offer a wide range of features and tools that make it easier for individuals to find and connect with potential partners. Features such as advanced search filters, personality assessments, and compatibility algorithms help users narrow down their options and find the most suitable matches. Furthermore, the increasing use of smartphones and internet access in Malawi has made online matchmaking more accessible to a larger segment of the population.

Local special circumstances: One of the unique aspects of the matchmaking market in Malawi is the cultural significance of marriage. Marriage is highly valued in Malawian society, and finding a suitable partner is often seen as a priority. As a result, matchmaking services are in high demand, as individuals seek assistance in finding compatible partners. Additionally, traditional matchmaking methods, such as arranged marriages, are still prevalent in some parts of the country. However, there is a growing acceptance and adoption of online matchmaking platforms in urban areas, where individuals have more freedom to choose their partners.

Underlying macroeconomic factors: The growing middle class in Malawi is a key driver of the matchmaking market. As more individuals achieve financial stability, they are increasingly seeking meaningful relationships and companionship. Additionally, the increasing urbanization and Western influence in Malawi have led to a shift in societal norms and attitudes towards dating and relationships. This has created a demand for modern matchmaking services that cater to the changing preferences and expectations of individuals in Malawi. In conclusion, the matchmaking market in Malawi is experiencing growth and development due to changing customer preferences, the rise of online platforms, cultural significance of marriage, and underlying macroeconomic factors. As more individuals in Malawi seek meaningful relationships and companionship, the demand for matchmaking services is expected to continue to rise.

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.