India Religious and Spiritual Market to Grow at 10.15% CAGR by 2027 | IMARC Group

India Religious and Spiritual Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,”the India religious and spiritual market is expected to exhibit a CAGR of 10.15% during 2022-2027. Religion includes a set of a social-cultural system of practices and moral beliefs that is are commonly shared by among a group or community. On the other hand, , whereas spirituality refers to an individual practice that is related to the process of building beliefs about the meaning of life. They both consist of prophecies, worldviews, holy places, and symbols, and the and worship of deities, which is often considered as to be a medium for seeking peace and solace in life. Some of the pPopular religious and spiritual products utilized across in India includeinclude candles and incense sticks, books and literature tools, statues of a deities,y and stones and crystals. Due to the powerful religious and spiritual beliefs of the masses and their daily worship and religious rituals, it there has been a considerable rise in the uptake of these products across the countryis propelling the market growth.

The sudden outbreak of coronavirus (COVID-19) disease and the subsequent lockdown restrictions have adversely affected the religious and spiritual market in India. The mandatory temporary closure of religious and spiritual places across the country had negatively impacted the sales of these products during the onset of the pandemic. However, with considerable improvements in vaccination rates across India, the brick-and-mortar spaces that offer religious and spiritual services are gradually opening their doors to the public. Along with this, continuous developments in the e-commerce infrastructure and the advent of online delivery models are also providing a boost to the sales of these products across the country. In addition to this, the introduction of online puja services and spiritual activities due to the penetration of high-speed internet connectivity is positively influencing the market growth.bh

Request Free Sample Report: https://www.imarcgroup.com/india-religious-spiritual-market/requestsample

India Religious and Spiritual Market Trends:

The market in India is primarily driven by the rising pilgrimage tourism across the country. This is supported by the increasing popularity of pilgrimage trips to religious destinations, including Haridwar, Ajmer, and Amritsar, among the masses. Along with this, the launch of various rejuvenation and spirituality programs across the country is also gaining prominence among the masses. Furthermore, continuous technological advancements and the widespread integration of automation with the manufacturing processes of several products are creating a positive outlook for the market. Other factors, including the increasing adoption of smartphones among the masses and rising investments and funding by private and public agencies in the development projects of religious establishments, are further contributing to the market growth across India.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Key Market Segmentation:

Breakup by Sector:

  • Organised
  • Unorganised

Breakup by Income Source:

  • Religious Tourism
  • Donations
  • Media and Music
  • Religious Items and Merchandise
  • Construction and Infrastructure
  • Others

Breakup by Distribution Channel:

  • Direct from Religious Places
  • Retail
  • Online

Breakup by Religion:

  • Hinduism
  • Islam
  • Sikhism
  • Buddhism
  • Christianity
  • Others

Breakup by Region:

  • North India
  • West and Central India
  • South India
  • East India

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/india-religious-spiritual-market

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Key highlights of the Report:

  • Market Performance (2016-2021)
  • Market Outlook (2022-2027)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact US

IMARC Group
30 N Gould St, Ste R
Sheridan, WY (Wyoming) 82801 USA
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800

Browse Other Related Reports:

Clinical Microbiology Market: https://www.imarcgroup.com/clinical-microbiology-market
Digital Lending Platform Market: https://www.imarcgroup.com/digital-lending-platform-market
Plastic Antioxidants Market: https://www.imarcgroup.com/global-plastic-antioxidants-market
Vitamin Ingredients Market: https://www.imarcgroup.com/vitamin-ingredients-market
Mobile Application Development Platform Market: https://www.imarcgroup.com/mobile-application-development-platform-market

Popular posts from this blog

GCC LED Lighting Market Size, Trends, Growth, Forecast & Industry Report 2024-2032

Image
According to IMARC Group, the GCC led lighting market share reached us$ 876.9 million in 2023 . Looking forward, Imarc group expects the market to reach us$ 2,174.9 million by 2032, exhibiting a growth rate (CAGR) of 10.3% during 2024-2032. The report has segmented the market by product type (panel lights, down lights, street lights, and others), application (residential, commercial, industrial, and others), import and domestic manufacturing (imports, domestic manufacturing), public and private sectors (public sector, private sector), outdoor and indoor application (indoor, outdoor), and region. Request to Get the Sample Report: https://www.imarcgroup.com/gcc-led-lighting-market/requestsample What is the LED Lighting Market ? Light Emitting Diode (LED) lighting has emerged as a transformative technology in the field of illumination, revolutionizing the lighting solutions are perceived and utilized. LEDs are semiconductor devices that emit light when an electrical current passes
Read more

Blood Group Typing Market Size, Key Facts, Dynamics, Segments and Forecast Report 2023-2028

Image
  The new report by Expert Market Research titled, ‘Global  Blood Group Typing Market Size , Trend, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global blood group typing market. It assesses the market based on its segments like offerings, techniques, test types, end-uses, and major regions. Get a Free Sample Report with Table of Contents@   https://www.expertmarketresearch.com/reports/blood-group-typing-market/requestsample The key highlights of the report include: Market Overview 2018-2028 • Historical Market Size (2021):  USD 2 billion • Forecast CAGR (2023-2028):  9.10% • Forecast Market Size (2027):  USD 3.37 billion The market for blood group typing is being driven by the increasing prevalence of chronic diseases, along with the rising demand for blood from various end-users such as hospitals and clinics, research institutes, and blood banks, among others. The increasing number of emergencies and road accidents that demand blood transfusions
Read more

Global Civil Engineering Market Size to Grow at a CAGR of 5.2% in the Forecast Period of 2023-2028

Image
The ‘Global   Civil Engineering Market Growth , Size, Share, Trend, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global civil engineering market, assessing the market on the basis of its segments like services, applications, customers, and major regions. The report studies the latest updates in the market, along with their impact across the market. It is also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models. Civil Engineering Market Share, Size, Industry Report, Key Player, Major Segments, and Forecast The key highlights of the report include: Market Overview (2018-2028) • Forecast CAGR (2023-2028):  5.2% Civil engineering provides efficient and reliable assistance in building large structures, ensures environmental safety, facilitates coordination with transportation to manage traffic, and enables the understanding of
Read more