Modern Love: India’s Dating Industry

Reading Time: 1 minutes

Cupid’s Target:

India is the 5th fastest-growing dating app market in the world as users spend millions every year.
The growth in India’s spending is far higher than the global average year-on-year increase of 12% for this category of apps in 2022.
Indian consumers spent $9.9 million up to December 2022 on dating and friendship apps. This is more than double compared to the same period last year ($4.5 million).
They had forked out money in-app purchases to get unlimited swipes or enhance their profiles to get that perfect match.

Swipe Right on Growth:

According to Statista.com, the online dating segment’s turnover in India is expected to reach $783 million by 2024 from $454 million in 2021.
Currently, dating apps reach 2.2% of India’s total population, with projections of 3.6% by 2024, according to industry surveys.
Roughly 20 million Indians used dating apps just five years ago. This figure surged by a massive 293% since then and hit 82.4 million in 2023.
The surge in usage is especially strong outside metro cities, which now account for 70% of users of the dating apps such as Tinder, Bumble and TrulyMadly.

Tinder, Bumble, Chamet!

While globally, Tinder is the most popular app in this category in terms of consumer spend, in India, it is Chamet, a video call service, which connects you to people in over 150 countries.
Second in terms of consumer spend is Bumble, which was backed by actress Priyanka Chopra, and third in the pecking order is Tinder, according to the App Annie data.
Apart from global dating apps like Tinder, Bumble, and Hinge, there are many Indian dating apps that have popped up in the arranged marriage-first economy like Aisle, HiHi and QuackQuack amongst others.

Love Meets Business:

Bumble India hinted at a more than 200% YoY growth in India in Q3 of 2022.
Bumble’s entry into India (alongside other Southeast Asian countries) catapulted its numbers from nearly 20 Mn to 40 Mn users within a year.
Tinder’s growth in Tier-II cities has doubled as much as the metros in the past year.

Love, Laughter, and Longevity:

Revenue in the dating services market is projected to reach $397.90m in 2023.
India will become the world`s second-largest dating services market by 2027, with roughly 35 million more users than the United States.
In 2023, Indians will spend almost $400 million on dating apps, up from $270 million just four years ago

Shreya Gupta

Wordsmith @smallcasehq

Cancel reply

Dislaimer: This platform is intended for informational purposes only and is not intended to provide investment advice. The stock prices displayed are delayed and may not reflect the most current market conditions. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. You can also consider consulting a financial advisor before making any investment decisions. Smallcase Technologies Private Limited shall not be responsible for any losses that may occur as a result of using this platform.

The views expressed in this article are those of the author and do not necessarily reflect the views of Smallcase Technologies Private Limited (STPL) or any of its associates. The information provided in this article is for educational and informational purposes only. Investors are responsible for their investment decisions and are responsible to validate all the information used to make the investment decision. Investors should understand that his/her investment decision is based on personal investment needs and risk tolerance, and performance information available on here is one amongst many other things that should be considered while making an investment decision. Past performance does not guarantee future returns.

Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL (in case of IAs) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. The examples and/or scurities quoted (if any) are for illustration only and are not recommendatory.

The content and data available on the website, including but not limited to index value, return numbers and rationale are for information and illustration purposes only. Charts and performance numbers do not include the impact of transaction fee and other related costs. Past performance does not guarantee future returns and performances of the portfolios are subject to market risk. Data used for calculation of live returns and other information is provided by exchange approved third party vendors and has neither been audited nor validated by the Company. Detailed return calculation methodology is available here. Detailed volatility calculation methodology is available here.

The user agrees to assume complete and full responsibility for the outcomes of all of his/her investment decisions that he/she makes, including any direct, indirect, incidental, consequential, special, punitive or any other losses/damages if any that may be incurred by him/her. Smallcase Technologies shall not be responsible or liable for any direct, indirect, incidental, consequential, special, punitive or any other losses/damages arising out of the recipient's investments. For disclosures related to Smallcase Technologies Pvt Ltd, please visit this page .

All smallcases present in the articles are created by SEBI licensed entities. The disclosure of these entities can be found below: