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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Indian Religious and Spiritual Market Growth
Indian religions, also known as Indic religions, include Hinduism, Islam, Buddhism, Jainism, and Sikhism. These religions are characterised by their diverse practices, such as temple ceremonies, pilgrimages, traditional rituals, and festivals, which play a central role in the daily lives of Indians. In contrast to religion, which involves a collective set of scriptures, rituals, and beliefs about the divine, spirituality deals with an individual's personal relationship with the transcendent aspects of human existence.
Religious tourism in India is a major part of the entire tourism market, with 60% of domestic tourists engaging in religious tourism. The increasing spiritual tourism in regions such as Puri, Varanasi, Tirupati, and Shirdi is expected to be one of the key factors significantly aiding the Indian religious and spiritual market expansion. Cities such as Puri and Varanasi not only provide a traditional religious experience but also help people rejuvenate themselves in yoga retreats and Ayurvedic spas, thus attracting a wider clientele.
Indian Religious and Spiritual Market Report Snapshots
Indian Religious and Spiritual Market Size
Indian Religious and Spiritual Market Growth
Indian Religious and Spiritual Market Trends
Indian Religious and Spiritual Market Share
Indian Religious and Spiritual Companies
Indian Religious and Spiritual Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the Indian religious and spiritual market reached a value of USD 58.56 billion in 2023.
The market is expected to grow at a CAGR of 10% between 2024 and 2032.
The major drivers of the market include rising disposable incomes, increasing population, expanding online distribution channels, and the rising pilgrimage tourism in India.
Key trends aiding market expansion include the government initiatives to promote religious tourism, introduction of digital platforms, and development of Indian railway to support the seamless travel of devotees.
Regions considered in the market are North India, East and Central India, West India, and South India.
The major religions considered in the market include Hinduism, Islam, Sikhism, Buddhism, and Christianity, among other religions.
The leading income sources in the market can be divided into religious tourism, donations, media and music, religious items and merchandise, construction and infrastructure, among others.
The major distribution channels in the market include direct from religious place, retail, and online.
The leading trust or managing bodies are Sree Padmanabhaswamy Temple Trust (SPST), Shri Saibaba Sansthan Trust, Tirumala Tirupati Devasthanams (TTD), Shri Mata Vaishno Devi Shrine Board, Shree Siddhivinayak Ganapati Temple Trust, and Akal Takht, among others. The media companies are T-Series Pvt. Ltd., Sanskar Info TV Pvt. Ltd., and Vedic Broadcasting Limited, among others. The religious travel companies are Yatra Online Limited, Tour My India Pvt Ltd, Travel Planner, and Spiritual India Tours, among others whereas the merchandise companies include Moksh Agarbatti, ITC Limited, NR Group, and One Point Six Technologies Pvt Ltd (Leadstart), among others. The online service providers include Rgyan, Kalpnik Technologies, and Templefolks, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124