Online Dating - Canada

Canada

Highlights

Revenue in the Online Dating market is projected to reach US$62.58m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 1.65%, resulting in a projected market volume of US$66.80m by 2028.
In the Online Dating market, the number of users is expected to amount to 3.1m users by 2028.
User penetration will be 7.5% in 2024 and is expected to hit 7.7% by 2028.
The average revenue per user (ARPU) is expected to amount to US$21.40.
In global comparison, most revenue will be generated United States (US$1.39bn in 2024).
With a projected rate of 17.9%, the user penetration in the Online Dating market is highest United States.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Dating market in Canada has been experiencing significant growth in recent years. Customer preferences have shifted towards online dating platforms as a convenient and efficient way to meet potential partners. Additionally, the market is being driven by several trends, including the increasing use of mobile dating apps and the growing acceptance of online dating among older demographics.

Customer preferences: Canadian consumers have shown a strong preference for online dating platforms due to their convenience and accessibility. With busy lifestyles and limited time for socializing, many individuals are turning to online dating as a way to meet new people. Online dating allows users to browse through profiles and connect with others from the comfort of their own homes, eliminating the need for traditional dating methods. This convenience factor has made online dating a popular choice among Canadians.

Trends in the market: One major trend in the Canadian online dating market is the increasing use of mobile dating apps. With the widespread adoption of smartphones, more and more Canadians are using dating apps to find potential partners. These apps offer a seamless and user-friendly experience, allowing users to swipe through profiles and message potential matches on the go. The convenience and accessibility of mobile dating apps have contributed to the growth of the online dating market in Canada. Another trend in the market is the growing acceptance of online dating among older demographics. In the past, online dating was primarily associated with younger individuals. However, there has been a shift in recent years, with older Canadians embracing online dating as a way to meet new people. This trend can be attributed to the increasing number of older adults who are single or divorced and looking for companionship. The online dating market has responded to this demand by catering to the specific needs and preferences of older users.

Local special circumstances: Canada's multicultural society has also influenced the development of the online dating market. The country is home to a diverse population, with individuals from various cultural backgrounds. Online dating platforms in Canada have recognized the importance of catering to different cultural preferences and have tailored their services accordingly. This inclusivity has contributed to the growth of the online dating market in Canada.

Underlying macroeconomic factors: The growth of the online dating market in Canada can also be attributed to underlying macroeconomic factors. The country has a strong economy, with high levels of internet penetration and smartphone adoption. These factors have created a favorable environment for the online dating industry to thrive. Additionally, Canada has a high rate of urbanization, with a significant portion of the population living in cities. This urban lifestyle, coupled with busy schedules, has contributed to the popularity of online dating as a way to meet new people. In conclusion, the Online Dating market in Canada has experienced significant growth in recent years. Customer preferences have shifted towards online dating platforms due to their convenience and accessibility. The market is being driven by trends such as the increasing use of mobile dating apps and the growing acceptance of online dating among older demographics. Canada's multicultural society and favorable macroeconomic factors have also contributed to the development of the online dating market in the country.

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.