Religious Organizations Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Religious Organizations Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021 •
  • 175 pages •
  • Report ID: 6071852 •
  • Format: PDF
Major players in the religious organizations market are Curves, ServiceMaster, H.E.B., Anschutz Entertainment Group, Blessings International, Mary Kay, The Salvation Army, Tom’s of Maine, Samaritan’s Purse, and Feeding America.

The global religious organizations market is expected to grow from $317.02 billion in 2020 to $333.52 billion in 2021 at a compound annual growth rate (CAGR) of 5.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $409.63 billion in 2025 at a CAGR of 5.3%.

The religious organizations market consists of sales of religious services by entities (organizations, sole traders, and partnerships) that operate religious establishments such as churches, temples, monasteries, and similar places of worship, and/or administer an organized religion or promote religious activities.This market includes donations received by religious organizations.

Only goods and services traded between entities or sold to end consumers are included.

The use of technology is increasingly being used by religious organizations to leverage the religious organization assets for social impact.For instance, Goodlands is a start-up that is using geo-data to map the lands of the catholic church globally.

It uses the geographic information system (GIS) software to make a map of the roman catholic church across the world with boundaries and layer on layer of data about the church and environmental contexts, then uses the land assets for creating new ways to channel them for social good.

The religious organizations market covered in this report is segmented by type into the public organization; private organization; individuals and by religious groups into Christians; Muslims; Hindus; others.

There has been a marked increase in legal and political restrictions on religion around the world.The increase in the restrictions on religion is mainly due to social hostilities involving religion including violence and harassment by private individuals, organizations or groups, and government’s favoritism of religious groups.

The government restricts a religion by imposing laws, policies, and actions by state officials that restrict religious beliefs and practices, or through funding for religious education, property, and clergy.For instance, in India, national and state laws (such as Freedom of Religion Acts or anti-conversion laws) are used to violate the religious freedom of minority communities.

These laws have been enacted to regulate religious conversions.Moreover, religious discrimination is perceived as a direct assault on an individual’s belief system.

For instance, a study of Christians in the U.S., published in SpringerLink Journal of Religion in 2018, found that perceived religious discrimination was associated with stress among individuals who perceived themselves to be members of a sociocultural (but not numeric) minority group.

The growth in disposable income contributes to the religious organizations market.Growth in economic conditions leads to higher disposable income that encourages individuals to participate and contribute to charity events.

According to an OECD report In the United States, the average household net adjusted disposable income per capita is USD 45, 284 a year. In 2018, the United States growth in real household income outpaced growth in real GDP by 3.1 percentage points. On average, globally, individuals donate around 2% of their disposable income and an increase in disposable income results in a directly proportional increase in donations. For instance, in 2018, a 5% increase in disposable income accounted for 2.1%of gross domestic product (GDP). Therefore, the growth in disposable income drives the market for religious organizations market.