Dublin, July 14, 2022 (GLOBE NEWSWIRE) — The “Global Religious Organizations Market Report 2022 by Type, Religious Groups, Revenue Source” report has been added to from ResearchAndMarkets.com offer.
The global market for religious organizations is expected to grow from $326.00 billion in 2021 to $351.33 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $449.99 billion in 2026 with a CAGR of 6.4%.
The growth in disposable income is contributing to the market for religious organizations. Growing economic conditions lead to higher disposable income which encourages individuals to participate and contribute to charitable events. According to an OECD report in Australia, the average household net adjusted disposable income per capita is $684,635 per year.
In 2020, real household income growth in Australia exceeded real GDP growth by 4.38 percentage points. On average, overall, household savings are 10.26 percentage points. Household savings from net disposable income is 209.89 percentage points. Hence, the growth in disposable income is driving the market for religious organizations.
There has been a marked increase in legal and political restrictions on religion around the world. The increase in restrictions on religion is mainly due to social hostilities involving religion, including violence and harassment by individuals, organizations or groups, and government favoritism towards religious groups.
The government restricts a religion by imposing laws, policies, and actions by state officials that restrict religious beliefs and practices, or by funding religious education, property, and clergy. For example, in India, national and state laws (such as religious freedom laws or anti-conversion laws) are used to violate the religious freedom of minority communities. These laws were enacted to regulate religious conversions.
The use of technology is increasingly used by religious organizations to leverage the strengths of the religious organization for social impact. For example, Goodlands is a start-up that uses geographic data to map Catholic church lands around the world. It uses Geographic Information System (GIS) software to create a map of the Roman Catholic Church around the world with boundaries and layer upon layer of data about the church and environmental contexts, then uses the assets land to create new ways to channel them for social good.
North America was the largest region in the religious organization market in 2021. Asia-Pacific was the second largest region in the religious organization market. Regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
1) By type: Public body; Private organization; People
2) By Religious Groups: Christians; Muslims; Hindus; Others
3) By source of income: religious tourism; Donations; Media and Music; Religious articles and goods; construction and infrastructure; Others
Main topics covered:
2. Characteristics of the religious organizations market
3. Religious Organizations Market Trends and Strategies
4. Impact of COVID-19 on Religious Organizations
5. Religious Organizations Market Size and Growth
5.1. Global Historical Market for Religious Organizations, 2016-2021, USD Billion
5.1.1. Market Drivers
5.1.2. Market Constraints
5.2. Global Religious Organization Forecast Market, 2021-2026F, 2031F, Billion USD
5.2.1. Market Drivers
5.2.2. Market Constraints
6. Religious Organizations Market Segmentation
7. Regional and Country-wise Analysis of Religious Organizations Market
8. Asia-Pacific Religious Organizations Market
9. Religious Organizations Market in China
10. Religious Organizations Market in India
11. Religious Organization Market in Japan
12. Australia Religious Organizations Market
13. Religious Organization Market in Indonesia
14. Religious Organization Market in South Korea
15. Religious Organizations Market in Western Europe
16. Religious Organizations Market in UK
17. Religious Organizations Market in Germany
18. Market of religious organizations in France
19. Eastern Europe Religious Organizations Market
20. Religious Organizations Market in Russia
21. North America Religious Organizations Market
22. Religious Organizations Market in United States
23. South America Religious Organizations Market
24. Religious Organizations Market in Brazil
25. Middle East Religious Organizations Market
26. Market for Religious Organizations in Africa
27. Religious Organizations Market Competitive Landscape and Company Profiles
29. Key mergers and acquisitions in the religious organizations market
29. Religious Organizations Market Future Outlook and Potential Analysis
- The Southern Baptist Convention
- Anschutz Entertainment Group
- International Blessings
- Mary Kay
- The Salvation Army
- Tom from Maine
- Samaritan’s Purse
- Feed America
- Food for the poor
For more information on this report, visit https://www.researchandmarkets.com/r/ai5hsx