Market Insights eCommerce Dating Services

Matchmaking - Bulgaria

Bulgaria

Revenue in the Matchmaking market is projected to reach US$1.65m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.64%, resulting in a projected market volume of US$1.79m by 2029.
In the Matchmaking market, the number of users is expected to amount to 41.5k users by 2029.
User penetration will be 0.6% in 2024 and is expected to hit 0.7% by 2029.
The average revenue per user (ARPU) is expected to amount to US$42.72.
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

The Casual Dating market in Bulgaria has been experiencing significant growth in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this development. Customer preferences in the Casual Dating market in Bulgaria have shifted towards more casual and non-committal relationships. This can be attributed to changing societal norms and an increasing focus on individual freedom and personal fulfillment. As a result, there is a growing demand for platforms and services that cater to these preferences, providing a convenient and discreet way to meet potential partners. Trends in the market reflect the increasing popularity of online dating platforms and mobile applications. These platforms offer a wide range of features and functionalities that appeal to the tech-savvy Bulgarian population. The convenience and accessibility of these platforms have made it easier for individuals to connect with others who share their interests and desires. Additionally, the rise of social media has also contributed to the growth of the Casual Dating market, as it provides a platform for individuals to showcase their lifestyle and attract potential partners. Local special circumstances in Bulgaria also play a role in the development of the Casual Dating market. The country has a relatively young population, with a high percentage of millennials and Generation Z individuals who are more open to casual relationships. Furthermore, the urbanization and modernization of Bulgarian society have led to increased social mobility and a greater emphasis on personal freedom, which further fuels the demand for casual dating services. Underlying macroeconomic factors also contribute to the growth of the Casual Dating market in Bulgaria. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and a higher standard of living for many Bulgarians. This economic stability has created a favorable environment for the development of the Casual Dating market, as individuals have more resources to spend on leisure activities and personal experiences. In conclusion, the Casual Dating market in Bulgaria is experiencing growth due to customer preferences for casual relationships, trends in the market towards online platforms and mobile applications, local special circumstances such as a young and urban population, and underlying macroeconomic factors such as economic growth and increased disposable income. These factors collectively contribute to the development and expansion of the Casual Dating market in Bulgaria.

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.