The global online dating industry is expected to hit more than 570 million users and over $7.8bn in revenue this year, and around 30% of that value will come from the United States, the world’s largest online dating market.
According to data presented by OnlyAccounts.io, Americans will spend around $2.5bn on dating apps this year, or more than Chinese, Japanese, and Britons combined.
More than 20 million Americans Have Started Using Dating Apps in the Past Five Years
After their surging popularity 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 services revenue dropped or stagnated across all major markets in 2022, and the United States was no exception.
Between 2017 and 2021, the revenue in the US dating services industry grew 52%, rising from $1.54bn to $2.35bn. However, last year saw a modest 1.7% year-over-year growth, with revenues rising to $2.39bn.
Statista expects the US market to grow by 3.7% and hit a $2.48bn value this year. Around 55% of that value, or $1.35bn, will come from online dating, the market`s largest revenue stream. Matchmaking and casual dating services follow with $840 million and $290 million in revenue, respectively.
According to Statista, the following years will see steady growth, with the US dating services revenue growing by 8% and reaching $2.68bn by 2027. As the second-largest globally, the Chinese market will see a 9% increase in this period, with revenues rising from $1.54bn to $1.68. India follows with a modest 1.3% growth and around $403 million in dating services revenue by 2027.
On the other hand, the number of Americans using online dating apps has been constantly growing. According to Statista, almost 20 million people in the United States tried their luck with dating apps and websites in the past five years, pushing the total user count to 73.6 million in 2023. This figure is expected to grow by another 6.3 million, with almost 80 million Americans using dating apps by 2027.
Almost 60% of All Dating App Users in the US are Millenials; Tinder is the No.1 App
One of the key factors driving the growth of the online dating industry in the United States is the convenience and accessibility of dating apps and websites, making it easier than ever for people to connect with potential partners.
According to Statista Digital Market Outlook, Millennials are the biggest user group in the US online dating market, making up almost 60% of the total user count. The Statista data also showed some interesting facts about the most used apps for online dating.
While Americas can choose from a variety of available dating apps, Tinder remains their top choice. The Statista data show around 16% of all dating app users in the US prefer Tinder, the number-one app in the market. Bumble ranked second with a 14% share. Hinge and MeetMe follow, with a 10% share each.