Matchmaking - Vietnam

Vietnam

Highlights

Revenue in the Matchmaking market is projected to reach US$21.53m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.31%, resulting in a projected market volume of US$22.98m by 2029.
In the Matchmaking market, the number of users is expected to amount to 944.9k users by 2029.
User penetration will be 0.8% in 2024 and is expected to hit 0.9% by 2029.
The average revenue per user (ARPU) is expected to amount to US$25.99.
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

Casual dating is gaining popularity in Vietnam as more and more people are embracing the idea of non-committal relationships.

Customer preferences: Vietnamese customers, especially the younger generation, are increasingly interested in casual dating due to several reasons. Firstly, there is a growing acceptance of modern dating practices, influenced by Western culture and media. This has led to a shift in attitudes towards relationships, with many individuals seeking short-term connections rather than long-term commitments. Additionally, the rise of social media and dating apps has made it easier for people to connect with potential partners and explore casual dating opportunities.

Trends in the market: One of the key trends in the casual dating market in Vietnam is the increasing use of dating apps. These apps provide a convenient platform for individuals to meet and connect with like-minded people. They offer features such as location-based matching, allowing users to find potential partners in their vicinity. The popularity of dating apps has also been fueled by the COVID-19 pandemic, as people turned to online platforms to meet new people while adhering to social distancing measures. Another trend in the market is the emergence of niche dating platforms catering to specific interests or communities. These platforms provide a more targeted approach to casual dating, allowing individuals to find partners who share similar hobbies, interests, or backgrounds. This trend reflects the growing demand for personalized experiences in the dating scene.

Local special circumstances: Vietnamese society has traditionally placed a strong emphasis on family values and marriage. However, there has been a gradual shift in societal norms, especially in urban areas, where individuals are more open to exploring different relationship dynamics. This cultural shift has contributed to the growing acceptance of casual dating in Vietnam.

Underlying macroeconomic factors: Vietnam's rapid economic growth has had a significant impact on the dating market. As the country becomes more prosperous, individuals have more disposable income and leisure time to invest in their personal lives. This has created a conducive environment for the casual dating market to thrive. In conclusion, the casual dating market in Vietnam is experiencing growth due to changing customer preferences, the rise of dating apps, and the influence of Western culture. The emergence of niche dating platforms and the country's economic development are also contributing factors. As Vietnamese society continues to evolve, it is likely that the casual dating market will continue to expand in the coming years.

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.