Matchmaking - Caribbean

Caribbean

Highlights

Revenue in the Matchmaking market is projected to reach US$6.87m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of -6.67%, resulting in a projected market volume of US$4.87m by 2029.
In the Matchmaking market, the number of users is expected to amount to 287.6k users by 2029.
User penetration will be 0.7% in 2024 and is expected to hit 0.7% by 2029.
The average revenue per user (ARPU) is expected to amount to US$25.86.
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.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Casual Dating market in the Caribbean is experiencing significant growth and development due to changing customer preferences, emerging trends, and local special circumstances. Customer preferences in the Caribbean have shifted towards more casual and non-committal relationships, leading to an increased demand for casual dating services. This shift can be attributed to several factors, including changing societal norms, increased urbanization, and the influence of Western culture. As Caribbean societies become more open-minded and progressive, individuals are seeking alternative ways to meet potential partners and explore their romantic and sexual desires. Trends in the market reflect this shift in customer preferences. Online dating platforms and mobile applications have gained popularity in the Caribbean, providing individuals with a convenient and discreet way to connect with others who share their interests and desires. These platforms offer a wide range of features and options, allowing users to customize their dating experience and find matches based on specific criteria. Additionally, the use of social media and virtual communication tools has further facilitated the growth of casual dating in the region. Local special circumstances also contribute to the development of the Casual Dating market in the Caribbean. The region is known for its vibrant tourism industry, attracting millions of visitors each year. This influx of tourists creates a dynamic and diverse dating pool, providing opportunities for both locals and visitors to engage in casual dating experiences. Moreover, the Caribbean's tropical climate and picturesque landscapes create an idyllic backdrop for romantic encounters, making it an attractive destination for casual dating. Underlying macroeconomic factors also play a role in the growth of the Casual Dating market in the Caribbean. Economic development and increased disposable income have allowed individuals to prioritize their personal lives and invest in their relationships. As the Caribbean continues to experience economic growth, more people are able to afford the luxury of casual dating and explore their romantic and sexual desires. Overall, the Casual Dating market in the Caribbean is developing rapidly due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As Caribbean societies become more open-minded and progressive, the demand for casual dating services is expected to continue to grow, creating new opportunities for businesses in the region.

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.