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(MoneyNewsWire.Net, August 02, 2018 ) This industry consists of religious organizations that provide religious worship or promote religious activities for both organized religions and smaller faiths that are not recognized in mainstream religious teaching. Establishments include churches, temples, mosques, synagogues and other houses of worship, as well as convents, monasteries and religiously affiliated community centers. This industry does not include schools and hospitals operated by religious organizations.
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The global religious organizations market was valued at $224 billion in 2017, and is expected to be driven by increased per capita disposable income, number of adults aged 65 and older, number of households, number of immigrants and natural disaster index. North America was the largest geographic region in the market, accounting for more than half of the global market share, due to technological advancements.
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The USA was the largest country in the market, accounting for more than two-fifth of the global religious organizations market share. This rapid growth was mainly due to the strong economic growth rate and exponential increase in GDP that increased the demand for commercial services from both individuals and business establishments. The USA was followed by China and India as the next largest countries in the market.
The top five competitors in the market are The Salvation army, Feeding America, Samaritan's Purse, Food For The Poor and Blessings International. The Salvation Army was the largest competitor in the market in 2017. The Salvation Army is a Protestant Christian para-church and an international charitable organisation structured in a quasi-military fashion. The organisation reports a worldwide membership of over 1.7 million, consisting of soldiers, officers and adherents collectively known as Salvationists.
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