Market Insights eCommerce Dating Services

Matchmaking - Sri Lanka

Sri Lanka

Revenue in the Matchmaking market is projected to reach US$3.66m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.11%, resulting in a projected market volume of US$3.68m by 2029.
In the Matchmaking market, the number of users is expected to amount to 143.1k 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$28.01.
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 is gaining popularity in Sri Lanka, with more and more people embracing this modern approach to relationships.

Customer preferences: In Sri Lanka, there is a growing preference for casual dating among the younger generation. This can be attributed to the influence of Western culture, increased exposure to global trends through the internet and social media, and a desire for more freedom and independence in personal relationships. Young adults in Sri Lanka are looking for casual dating experiences that allow them to explore their options, meet new people, and have fun without the commitment and expectations of a traditional relationship.

Trends in the market: The casual dating market in Sri Lanka is witnessing a surge in the number of online dating platforms and apps. These platforms provide a convenient and discreet way for individuals to connect with like-minded people who are also interested in casual dating. The ease of use and accessibility of these platforms have contributed to their popularity among young adults in Sri Lanka. Additionally, the COVID-19 pandemic has further accelerated the adoption of online dating, as people turned to virtual connections during periods of lockdown and social distancing.

Local special circumstances: Sri Lanka is a conservative society with strong cultural and religious values. However, there is a growing acceptance of casual dating among the younger generation, especially in urban areas. This shift in attitudes can be attributed to the influence of globalization, exposure to Western media, and changing social norms. While casual dating may still face some social stigma in certain circles, the overall acceptance and understanding of this modern approach to relationships are gradually increasing.

Underlying macroeconomic factors: Sri Lanka has experienced rapid economic growth in recent years, leading to an increase in disposable income among the middle class. This has created a demand for leisure activities and entertainment options, including casual dating. Additionally, the country's improving internet infrastructure and increasing smartphone penetration have made online dating more accessible to a larger segment of the population. In conclusion, the casual dating market in Sri Lanka is developing due to changing customer preferences, the growing popularity of online dating platforms, shifting social norms, and favorable macroeconomic factors. As the younger generation continues to embrace casual dating as a lifestyle choice, the market is expected to further expand in the coming years.

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.