Market Insights eCommerce Dating Services

Matchmaking - Bangladesh

Bangladesh

Revenue in the Matchmaking market is projected to reach US$7.03m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.97%, resulting in a projected market volume of US$8.96m by 2029.
In the Matchmaking market, the number of users is expected to amount to 440.5k users by 2029.
User penetration will be 0.3% in 2024 and is expected to hit 0.2% by 2029.
The average revenue per user (ARPU) is expected to amount to US$15.21.
In global comparison, most revenue will be generated in China (US$1,211.00m in 2024).
With a projected rate of 3.8%, the user penetration in the Matchmaking market is highest in South Korea.

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Analyst Opinion

Casual dating has been gaining popularity in Bangladesh in recent years, driven by changing social attitudes and increased internet penetration in the country.

Customer preferences: Bangladesh is a conservative society with strong cultural and religious values, but there has been a shift in attitudes towards relationships and dating. Younger generations are more open to the idea of casual dating as they seek to explore their personal freedom and independence. Additionally, the influence of Western culture through media and the internet has also played a role in shaping customer preferences.

Trends in the market: The casual dating market in Bangladesh has seen a significant growth due to the rise of online dating platforms and apps. These platforms provide a convenient and discreet way for individuals to connect and meet potential partners. The ease of use and accessibility of these platforms have made it more socially acceptable for people to engage in casual dating.

Local special circumstances: Bangladesh has a large population of young people, with a significant portion of the population being under the age of 30. This demographic trend has contributed to the growth of the casual dating market as young people are more likely to be open to new experiences and relationships. Additionally, the increasing number of women joining the workforce and pursuing higher education has also contributed to the changing dynamics of relationships in the country.

Underlying macroeconomic factors: Bangladesh has experienced rapid economic growth in recent years, which has led to an increase in disposable income among the middle class. This has provided individuals with the financial means to engage in activities such as casual dating. Furthermore, the growth of the internet and smartphone penetration in the country has made it easier for people to access online dating platforms and connect with potential partners. In conclusion, the casual dating market in Bangladesh is developing due to changing social attitudes, increased internet penetration, and the rise of online dating platforms. The younger generation's desire for personal freedom and independence, along with the influence of Western culture, has contributed to the growing acceptance of casual dating. Additionally, the large population of young people and the increasing number of women in the workforce have also played a role in shaping the market. The underlying macroeconomic factors of rapid economic growth and increased disposable income have provided individuals with the means to engage in casual dating.

Methodology

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.