Online Dating Industry Statistics, Market Size, Trends, Revenue
The concept of dating came into existence back in the 1990s. After a few years, online dating got introduced. A lot of people were skeptical about online dating at first. They have not accepted it immediately.
With time, people became familiar with it and started accepting it. Now, the online dating industry has reached a whole new level.
Various dating apps like Tinder, Bumble, Hinge, Happen, etc., has a huge contribution to the success of the online dating industry. Even Facebook recently entered the online dating world with its Facebook Dating service. These apps have integrated complex algorithms to ensure that users can find the best possible match.
If you are wondering how the online dating industry has reached great heights, then you have reached the right place.
In this blog, we will discuss the online dating industry statistics, market size, trends, and revenue.
So, let us start.
Online Dating Industry Statistics
Here, we walk you through some of the latest online dating statistics worldwide:
- Around 280 million users will be using online dating services in 2024. Besides this, there would be 113 million users of matchmaking services and 70 million casual daters.
- Between January 2022 to 2023, 5.3 million users visited an online dating site daily. If we take it to the month, then 211 million users visited a dating site in a month.
- According to CompareCamp, there are 1500+ dating apps in the online dating industry. Out of which, American company Match Group Inc holds the majority of them.
- As per CompareCamp, there would be 35.4 million paying and non-paying dating app users by 2024 in the US only.
- As per GWI, the growth of the online dating industry has been steady since 2017. In the last quarter of 2020 i.e. around the Covid-19 pandemic, around 39% of single, widowed, and divorced users state that they have used online dating services. The ratio of males to females using the online dating service is 43:33.
Online Dating Market Size
One of the primary questions appearing in your mind while going through these figures about the online dating industry is, How big is the online dating industry?
Let us look at some of the latest statistics to understand the market size of the online dating industry.
According to AlliedMarketResearch, the worldwide dating market size was about the US $7.05 billion in 2021, and it is anticipated to grow at a compound annual growth rate (CAGR) of 5.5% between 2022-2030
As per IBISWorld, the US dating market size growth will be 2.4% in 2023. It means that the US dating services will have a market size of $4.3 billion in 2023.
As per MarketWatch, the online dating market size is expected to cross $10,378 Million by 2026.
The global online dating market size can further be divided based on service offering such as matchmaking, online dating, and casual dating. It was valued at $8.3 billion in 2020 and is expected to grow at a CAGR of 7.7% between 2021 to 2028.
On the basis of that, we have estimated yearly valuation as shown below.
|Year||Dating Global Market Size in Billions|
The online dating industry has observed tremendous growth over the past few years. Moreover, we will notice higher growth in the online dating industry in the years to come.
There are various factors that indicate that the online dating industry will have a large market size in the near future. Out of all, one of the crucial factors contributing to increased market size is an increase in the number of singles in North America, Asia-Pacific, and Europe region.
Another factor is an increase in internet penetration. Millennials use dating apps to find new friends and also their soulmates. They check out the likes, dislikes, and interests of the person before matching with them.
The dating app service providers have understood the needs of the users and integrated features accordingly. Due to this, the online dating industry is growing exceptionally well.
Online Dating Industry Trends
With gradually growing at a great pace, the dating industry also witnessed some amazing trends over the period. Here we have listed some popular trends among them.
Virtual Dating and Video Dating
Various forms of virtual communication, such as video calls, video chats, audio calls, audio notes, etc., gained enough attention over the last few years. The trend of these things is not going to reduce anytime soon.
According to thezoereport, 65% of users love virtual dating after the social distancing rules were about to get over. Various popular dating apps like Tinder, Bumble, and Happn started integrating virtual dating features and have observed massive growth over the last year.
Niche Dating Apps and Sites
Niche dating apps are becoming a new normal. Businesses start providing dating services focusing on a particular group of people or communities based on their age, demographics, interests, and many more.
For example, Udolly is a dating app that connects disabled people across the globe. Biker Planet is one of the leading websites that connect biker singles worldwide. There are many apps for the LGBT community that serve only LGBT people around the world.
Health Transparency is New Normal
People have become more aware of their health due to Covid-19 and connect with users with the same belief.
Singles now check their boundaries and only connect with partners with the same comfort zones. For instance, users who have taken vaccines love to match with the same kind of people.
Various popular dating platforms such as OkCupid, Bumble, and Hinge understood users’ needs and introduced ‘badges’ that indicate the vaccination status or the comfort level with various activities. Bumble dating app allows users to set up their covid dating preferences from their profile.
It is yet another popular dating trend that has evolved over the years. In speed dating, people are allowed to meet many singles online in a short amount of time. Depending on the conversation, they can decide to start a relationship with a person or not.
Speed dating is one of the fastest-growing trends in the dating industry. It’s the best opportunity that you can turn into a successful business. Check out this step-by-step guide about starting a speed dating business for a successful startup.
More Social Media Integrations
Integration of various social media platforms was considered unimportant earlier as people date for fun and time-pass. The industry has completely evolved over the decade, and now users love to know each other well before fixing a date. Hence, integration with different social media platforms will play a vital role in the coming years.
Social & Community-Focused Solutions
One-on-One dating is not going to end anytime soon. With the changing times, the online dating world has understood the importance of community-focused dating. Some of the dating apps now allow dating in groups. Fourplay is one such dating app that is built based on this concept. The app enables users to do double dating.
Collaborations that Enhance User Experience and Improve Brand Visibility
Some leading dating brands have constantly partnered with various organizations to provide a top-notch experience to users, market themselves in a unique way, and take their business to a new level.
During the pandemic, Bumble has made various brand collaborations to help users cope with the challenges that they face daily. It initially collaborated with Babe Wine to help users move forward with breakups occurring in the pandemic.
Hinge, a popular dating app, discovered that many people feel anxious or nervous before a date during the pandemic. The company grabbed this opportunity and partnered with meditation & wellness app Headspace to offer pre-date medications to the app users.
Several brand collaborations have purely been meant to boost user experience at the time of the pandemic. Hinge discovered the users want more & more unique date ideas. Hence, Hinge teamed up with well-known eCommerce site Uncommon Goods to introduce a virtual date night kit. The product offers users recipes for making cocktails & mocktails.
Online Dating Revenue
Whenever you look at the online dating industry, one of the questions that appear in your mind is, How much do online dating services make?
Here are some statistics which answer your question.
According to Statista, the revenue of the online dating segment is expected to reach US $ 3.1bn in 2023. Further, the revenue will grow at a CAGR of 3.23% between 2023 to 2027 and reach US $3.41bn by 2027.
As per Statista, the revenue in the online dating segment in the United States is anticipated to reach US$1.35bn in 2023. The revenue will reach around $1.47bn by 2027.
The global dating app revenue has increased from $1.38 billion in 2015 to $5.61 billion in 2021.
These figures clearly indicate that the online dating industry will reach a gigantic height in the upcoming years.
Online Dating User Penetration
According to Statista, the user penetration of online dating will be 5.0% in 2023 and is anticipated to reach 5.5% in 2027. The total number of users in the online dating industry is expected to reach 440.9 million in 2027.
According to Statista, the user penetration rate is highest in the United States at 14.72%. However, it shows that the user penetration rate is the lowest in India at 2.74%.
According to PewResearch, three-in-ten adults in the United States have used a dating app or site once in their lifetime. Further, the number changes depending on age and sexual orientation.
Many people use dating apps for hookups, finding friends, and also their life partners. Let us have a look at the total number of dating app users across the globe.
Dating App Users Worldwide
Every year, the usage of dating apps is increasing. According to BusinessofApps, the number of online dating app users were 323 million in 2021.
The above table clearly indicates that the number of dating app users increases year on year. It is also expected that the number of dating app users would grow exponentially.
One of the main reasons is that the leading dating giants, such as Bumble and Hinge, have started app marketing for relationships rather than hookups.
Another main reason is the covid-19 pandemic. According to Apptopia, the dating app engagement in the last quarter of 2020 has surpassed the pre-pandemic level as marketers practice new ways to increase app engagement to retain users.
It also stated that the top 20 dating apps in the US got 17 million daily active users in November 2020. Hence, there were 2 million more active users than the previous year.
The demand for the online dating industry will increase in the coming years. We would see people of different ages, cultures, and social beliefs adopting it. The main reason people love to choose online dating is that it is convenient. Another reason people would opt for online dating is that it helps to find the most suitable match.
We would also observe that social media and dating would come together to help users in dating. Various brands will also support dating platforms to connect with users and promote their business.
If you have understood the importance of online dating and want to become part of this ever-growing industry, you can contact us.
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FAQs on Online Dating Industry
Is the dating app industry growing?
The online dating industry growth is not going to stop anytime soon. As per IndustryARC, the online dating industry market size will grow at a CAGR of 4% between 2021 to 2026 and reach $10,738 million in 2026.
Which country uses online dating the most?
The United States stands in the first position, with 49 million people using online dating services, according to Statista. It has a user penetration of 14.72% worldwide.
How much is the online dating industry worth?
According to Statista, the online dating industry will be worth $3.1bn in 2023. The revenue is expected to grow at a CAGR of 6.25% between 2022 to 2026 and reach US$3.41bn by 2027.
Who are the key suppliers in the online dating industry?
The key suppliers in the online dating industry consist of eHarmony.Inc, Match Group.Inc, The Meet Group Inc., Spice of Life.Inc, Love Global Group Ltd, Zoosk Inc., and more.
Who are the leading players in the online dating industry?
The key players in the online dating industry include Tinder, Bumble, Badoo, PlentyofFish, OkCupid, Match.com, and Happn.