Dating app market to bring in $7.6 billion in revenue in 2022

The online dating app market is another industry that has flourished in the internet age. It has grown into a multi-billion dollar industry in the new century and is currently growing at a compound annual growth rate (CAGR) of 6%. According to figures presented by SafeBettingSites.com, matchmaking/dating apps are expected to generate $7.6 billion in annual revenue by 2027.

The online matchmaking/dating market has seen healthy growth over the past four to five years, especially the online dating segment. According to Statista, in 2017, the global annual revenue of the market was $4.7 billion. In 2021, annual revenue grew to $7.5 billion, a 60% increase over four years. The online dating segment generated the majority of this growth. The online dating segment was worth $1.5 billion in 2017 and grew to $2.8 billion in 2021. Most of this 87% growth in this segment came in 2020 and 2021, likely due to of the pandemic.

The matchmaking app segment grew from $2.6 billion in 2017 to $3.8 billion in 2021, a growth of 46%, which is comparatively smaller than the online dating market.

However, after a period of sustained growth, the current year does not seem to bring good news for the dating/matchmaking application market. Annual revenue is estimated to be $7.6 billion in 2022, a mere 1.3% growth.

Compared to 2017-2021, market growth is expected to slow down in the coming years. The market is expected to be worth $8.7 billion in 2027. The online dating and matchmaking segments are expected to grow at a slow and steady pace, while there is virtually no growth expected for the casual dating segment.

East-West divide

The most striking observation of the regional income distribution is that matchmaking apps perform well in conservative Asian societies in China, India and Japan, while dating apps perform well in the United States and in Europe.

The United States is the essential market for dating/matchmaking applications. In 2021, the American market represented 32% of global turnover. Additionally, 54% of US revenue came from dating apps.

In the same year, the Chinese market was worth $1.5 billion, and matchmaking apps accounted for 80% of Chinese revenue.