Matchmaking - Latvia

Latvia

Highlights

Revenue in the Matchmaking market is projected to reach US$691.10k in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.01%, resulting in a projected market volume of US$763.20k by 2029.
In the Matchmaking market, the number of users is expected to amount to 16.7k users by 2029.
User penetration will be 0.8% in 2024 and is expected to hit 1.0% by 2029.
The average revenue per user (ARPU) is expected to amount to US$45.19.
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 Latvia has seen significant growth in recent years, driven by changing customer preferences and the increasing popularity of online dating platforms. Customer preferences in the Casual Dating market have shifted towards more casual and non-committal relationships, as individuals seek to explore their options and enjoy the freedom of casual dating. This trend is not unique to Latvia, as it is seen in many countries worldwide. The convenience and accessibility of online dating platforms have made it easier for people to connect with others who share similar interests and desires, further fueling the growth of the Casual Dating market. In addition to customer preferences, there are several trends in the Casual Dating market in Latvia that have contributed to its development. One trend is the increasing use of mobile dating apps, which allow users to connect with potential partners on the go. This has made casual dating more convenient and accessible, particularly for younger generations who are constantly connected to their smartphones. Another trend in the market is the rise of niche dating platforms catering to specific interests or demographics. These platforms provide a more targeted approach to casual dating, allowing individuals to find like-minded partners who share their hobbies, lifestyles, or cultural backgrounds. This trend reflects the growing demand for personalized and tailored experiences in the Casual Dating market. Local special circumstances in Latvia have also influenced the development of the Casual Dating market. The country has a relatively small population, which can make it challenging for individuals to meet new people and expand their social circles. Online dating platforms have filled this gap by providing a platform for individuals to connect with others outside of their immediate social networks. Underlying macroeconomic factors have also played a role in the growth of the Casual Dating market in Latvia. The country has experienced steady economic growth in recent years, leading to increased disposable income and a higher standard of living. This has allowed individuals to allocate more resources towards leisure activities, including casual dating. In conclusion, the Casual Dating market in Latvia has experienced significant growth due to changing customer preferences, the rise of online dating platforms, and underlying macroeconomic factors. The convenience and accessibility of online dating have made it easier for individuals to explore casual relationships, while niche dating platforms cater to specific interests and demographics. Local special circumstances, such as a relatively small population, have further driven the demand for online dating. Overall, the Casual Dating market in Latvia is expected to continue growing as more individuals embrace the freedom and flexibility of casual dating.

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.