Europe has seen a surging demand for dating services recently, despite the fact that half of the global dating industry revenue comes from the United States and China.
According to data presented by OnlyAccounts.io, over 95 million Europeans will use dating services this year, or 3.5 million more than in 2022.
The Number of Dating App Users Grows, but Revenue Remains Below 2021 Levels
After their exploding popularity in 2020 and 2021 amid COVID-19 lockdowns, dating apps and websites suffered a significant revenue drop last year as life returned to normal. According to a Statista survey, dating industry revenue declined or remained unchanged across all major markets in 2022, and Europe was no exception.
Between 2017 and 2020, the revenue in the European dating services industry grew 35% and hit $1.35bn. A year later, this figure rose to an all-time high of $1.51bn before falling to $1.44bn in 2022. Statista expects the entire market to gross $1.5bn this year, which is still below the 2021 levels. Around 40% of that value, or $620 million, will come from online dating as the market`s largest revenue stream. Matchmaking and casual dating services follow with $590 million and $280 million in revenue, respectively. Statista expects the following years to witness steady growth, with Europe`s dating services revenue reaching $1.62bn by 2027.
On the other hand, the number of users in the European dating services market has been constantly growing. According to Statista, more than 33 million people in Europe tried their luck with dating apps and websites in the past five years, pushing the total user count to 91.6 million in 2022.
This figure is expected to grow by 4% to over 95 million in 2023. More than 80% of all users, or around 77.2 million, prefer online dating apps. Casual dating and matchmaking services follow with 23.3 million and 8.5 million users, respectively.
Only Three Apps Hold 45% of the Market
Dating apps have become increasingly popular over the past years, especially among younger generations, making it easier than ever for people to connect with potential partners. And while Europeans can choose from a variety of available dating apps, Tinder remains their top choice.
The Statista data show around 22% of all dating app users in Europe prefer Tinder, the number-one app in the market. Bumble ranked second with a 12% share last year. Badoo, LOVOO, and Happn follow with 11%, 5%, and 4% shares, respectively.
The full story and statistics can be found here: https://onlyaccounts.io/blog/more-than-95-million-europeans-to-use-dating-services-in-2023-entire-market-to-gross-1-5b/