Casual Dating - Bulgaria

Bulgaria

Highlights

Revenue in the Casual Dating market is projected to reach US$276.80k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -0.75%, resulting in a projected market volume of US$266.60k by 2029.
In the Casual Dating market, the number of users is expected to amount to 88.6k users by 2029.
User penetration will be 1.3% in 2024 and is expected to hit 1.4% by 2029.
The average revenue per user (ARPU) is expected to amount to US$3.14.
In global comparison, most revenue will be generated United States (US$293.80m in 2024).
With a projected rate of 4.6%, the user penetration in the Casual Dating market is highest Armenia.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Dating market in Bulgaria is experiencing steady growth, driven by changing customer preferences and the increasing popularity of online platforms for meeting potential partners.

Customer preferences: Bulgarian customers are increasingly turning to online dating platforms as a convenient and efficient way to meet new people. The younger generation, in particular, is embracing online dating as a way to connect with others who share similar interests and values. With busy lifestyles and limited time for socializing, online dating offers a convenient solution for Bulgarians to find potential partners.

Trends in the market: One of the key trends in the Bulgarian online dating market is the growing popularity of niche dating platforms. These platforms cater to specific interests or demographics, such as religious or cultural preferences, allowing users to find like-minded individuals more easily. This trend reflects the desire for more personalized and targeted dating experiences, as users seek to find partners who share their values and interests. Another trend in the market is the increasing use of mobile dating apps. As smartphone penetration continues to rise in Bulgaria, more people are accessing online dating platforms through their mobile devices. This shift towards mobile dating apps offers users greater flexibility and convenience, as they can connect with potential partners anytime and anywhere.

Local special circumstances: Bulgaria's unique cultural and social dynamics also play a role in shaping the online dating market. The country has a relatively small population compared to other European countries, which can limit the pool of potential partners for individuals. Online dating provides a solution to this challenge by expanding the reach and options for meeting new people. Furthermore, Bulgaria has a high percentage of single adults, which contributes to the demand for online dating services. The country's low marriage rate and high divorce rate indicate a need for alternative ways of finding long-term relationships. Online dating platforms offer a viable solution for individuals who are seeking meaningful connections and are open to exploring different avenues for romance.

Underlying macroeconomic factors: Bulgaria's improving economic conditions have also contributed to the growth of the online dating market. As the country's economy continues to develop, more people have disposable income to spend on leisure activities, including online dating subscriptions. This increased spending power has resulted in a larger customer base for online dating platforms, driving market growth. In conclusion, the Online Dating market in Bulgaria is expanding due to changing customer preferences, the popularity of niche dating platforms, the rise of mobile dating apps, unique local circumstances, and improving macroeconomic conditions. As more Bulgarians embrace online dating as a way to meet potential partners, the market is expected to continue growing in the coming years.

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.