Matchmaking - Nepal

Nepal

Highlights

Revenue in the Matchmaking market is projected to reach US$1.96m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of NaN%, resulting in a projected market volume of US$-1.51m by 2028.
In the Matchmaking market, the number of users is expected to amount to 82.3k users by 2028.
User penetration will be 0.3% in 2024 and is expected to hit 0.3% by 2028.
The average revenue per user (ARPU) is expected to amount to US$23.82.
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 Nepal has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: In Nepal, traditional arranged marriages have long been the norm, with families playing a central role in the matchmaking process. However, there is a growing shift towards more modern and independent approaches to finding a life partner. Younger generations are increasingly seeking compatibility and personal choice in their relationships, leading to a rise in the popularity of matchmaking services. These services provide individuals with a platform to connect with potential partners based on shared interests, values, and goals.

Trends in the market: One of the key trends in the matchmaking market in Nepal is the increasing use of online platforms and mobile applications. These platforms provide a convenient and accessible way for individuals to search for and connect with potential partners. The use of technology has also enabled matchmaking services to offer more personalized and tailored experiences, matching individuals based on their specific preferences and requirements. Another trend in the market is the growing demand for professional matchmaking services. As more individuals prioritize their careers and education, they have less time to dedicate to finding a life partner. Professional matchmaking services offer a solution by taking on the task of finding compatible matches and arranging introductions, saving individuals time and effort.

Local special circumstances: Nepal is a country with a diverse cultural landscape and a strong emphasis on family values. While there is a growing acceptance of modern approaches to matchmaking, there are still cultural and societal factors that influence the market. For example, individuals may still seek the approval and involvement of their families in the matchmaking process, even if they are using online platforms or professional services. This blend of traditional and modern approaches creates a unique market dynamic in Nepal.

Underlying macroeconomic factors: The growing matchmaking market in Nepal is also influenced by underlying macroeconomic factors. Economic development and increased urbanization have led to changing lifestyles and attitudes towards relationships. As more people move to cities and become financially independent, they have more freedom to make choices about their personal lives, including their choice of a life partner. Additionally, a rising middle class and increased disposable income have made matchmaking services more affordable and accessible to a larger segment of the population. In conclusion, the matchmaking market in Nepal is experiencing growth due to changing customer preferences, the adoption of technology, and the unique blend of traditional and modern approaches. As the country continues to develop economically and socially, the market is expected to further expand and evolve to meet the changing needs and expectations of individuals seeking meaningful relationships.

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.