Online Dating - Hong Kong

Hong Kong

Highlights

Revenue in the Online Dating market is projected to reach US$11.84m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 0.53%, resulting in a projected market volume of US$12.16m by 2029.
In the Online Dating market, the number of users is expected to amount to 492.8k users by 2029.
User penetration will be 6.5% in 2024 and is expected to hit 6.6% by 2029.
The average revenue per user (ARPU) is expected to amount to US$24.29.
In global comparison, most revenue will be generated United States (US$1.39bn in 2024).
With a projected rate of 17.7%, the user penetration in the Online Dating market is highest United States.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Matchmaking market in Hong Kong is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Matchmaking market in Hong Kong are shifting towards more personalized and efficient services. Customers are increasingly seeking matchmaking services that cater to their specific needs and preferences, such as age, education level, and occupation. They are also looking for services that provide a higher success rate in finding compatible partners. As a result, matchmaking agencies in Hong Kong are adapting their services to offer more customized and targeted matches, utilizing advanced algorithms and data analytics to increase the likelihood of successful matches. Trends in the Matchmaking market in Hong Kong are driven by advancements in technology and the increasing use of online platforms. Online matchmaking platforms have gained popularity in Hong Kong, providing customers with a convenient and efficient way to find potential partners. These platforms offer a wide range of features, such as compatibility tests, personalized profiles, and messaging systems, which enhance the matchmaking experience. Additionally, the rise of social media and dating apps has further accelerated the growth of the online matchmaking market in Hong Kong, as more people are turning to these platforms to meet potential partners. Local special circumstances in Hong Kong also contribute to the development of the Matchmaking market. Hong Kong has a high population density and a fast-paced lifestyle, which can make it challenging for individuals to meet potential partners through traditional means. This has led to an increased reliance on matchmaking services, as people seek more efficient ways to find compatible partners. Furthermore, Hong Kong has a strong cultural emphasis on marriage and family, which further fuels the demand for matchmaking services. Underlying macroeconomic factors are also playing a role in the growth of the Matchmaking market in Hong Kong. Hong Kong has a strong economy and a high level of disposable income, which allows individuals to invest in matchmaking services. Additionally, the increasing number of professionals and busy working individuals in Hong Kong has created a demand for matchmaking services that can save time and effort in the search for a partner. As a result, the Matchmaking market in Hong Kong is expected to continue growing in the coming years. In conclusion, the Matchmaking market in Hong Kong is experiencing growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards personalized and efficient services, the rise of online platforms, the unique circumstances of Hong Kong, and the strong economy all contribute to the growth of the market. As the market continues to evolve, matchmaking agencies in Hong Kong will need to adapt and innovate to meet the changing needs of customers.

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.