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The Indian religious and spiritual market reached approximately USD 58.56 billion in 2023. The market is further expected to grow at a CAGR of 10% during the forecast period of 2024-2032.
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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Religious and Spiritual Market Overview
8.1 Key Industry Highlights
8.2 Global Religious and Spiritual Historical Market (2018-2023)
8.3 Global Religious and Spiritual Market Forecast (2024-2032)
8.4 Global Religious and Spiritual Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Indian Religious and Spiritual Market Overview
9.1 Key Industry Highlights
9.2 India Religious and Spiritual Historical Market (2018-2023)
9.3 India Religious and Spiritual Market Forecast (2024-2032)
10 Indian Religious and Spiritual Market by Religion
10.1 Hinduism
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Islam
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Sikhism
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Buddhism
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Christianity
10.5.1 Historical Trend (2018-2023)
10.5.2 Forecast Trend (2024-2032)
10.6 Others
11 Indian Religious and Spiritual Market by Income Source
11.1 Religious Tourism
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.1.3 Breakup by Religion Type
11.1.3.1 Hinduism
11.1.3.2 Islam
11.1.3.3 Sikhism
11.1.3.4 Buddhism
11.1.3.5 Christianity
11.1.3.6 Others
11.2 Donations
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.2.3 Breakup by Religion Type
11.2.3.1 Hinduism
11.2.3.2 Islam
11.2.3.3 Sikhism
11.2.3.4 Buddhism
11.2.3.5 Christianity
11.2.3.6 Others
11.3 Media and Music
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Religious Items and Merchandise
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.4.3 Breakup by Product
11.4.3.1 Books and Literature
11.4.3.2 Idols
11.4.3.3 Flowers and Garlands
11.4.3.4 Candles and Incense Sticks
11.4.3.5 Others
11.5 Construction and Infrastructure
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Indian Religious and Spiritual Market by Distribution Channel
12.1 Direct from Religious Places
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Retail
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Online
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
13 Indian Religious and Spiritual Market by Region
13.1 North India
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 East and Central India
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 West India
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South India
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 By Trust or Managing Bodies
15.2.1.1 Sree Padmanabha Swamy Temple Trust (SPST)
15.2.1.1.1 Company Overview
15.2.1.1.2 Service Portfolio
15.2.1.1.3 Demographic Reach and Achievements
15.2.1.1.4 Certifications
15.2.1.2 Shri Saibaba Sansthan Trust
15.2.1.2.1 Company Overview
15.2.1.2.2 Service Portfolio
15.2.1.2.3 Demographic Reach and Achievements
15.2.1.2.4 Certifications
15.2.1.3 Tirumala Tirupati Devasthanams (TTD)
15.2.1.3.1 Company Overview
15.2.1.3.2 Service Portfolio
15.2.1.3.3 Demographic Reach and Achievements
15.2.1.3.4 Certifications
15.2.1.4 Shri Mata Vaishno Devi Shrine Board
15.2.1.4.1 Company Overview
15.2.1.4.2 Service Portfolio
15.2.1.4.3 Demographic Reach and Achievements
15.2.1.4.4 Certifications
15.2.1.5 Shree Siddhivinayak Ganapati Temple Trust
15.2.1.5.1 Company Overview
15.2.1.5.2 Service Portfolio
15.2.1.5.3 Demographic Reach and Achievements
15.2.1.5.4 Certifications
15.2.1.6 Akal Takht
15.2.1.6.1 Company Overview
15.2.1.6.2 Service Portfolio
15.2.1.6.3 Demographic Reach and Achievements
15.2.1.6.4 Certifications
15.2.1.7 Others
15.2.2 By Media Companies
15.2.2.1 T-Series Pvt. Ltd.
15.2.2.1.1 Company Overview
15.2.2.1.2 Product Portfolio
15.2.2.1.3 Demographic Reach and Achievements
15.2.2.1.4 Certifications
15.2.2.2 Vedic Broadcasting Limited
15.2.2.2.1 Company Overview
15.2.2.2.2 Product Portfolio
15.2.2.2.3 Demographic Reach and Achievements
15.2.2.2.4 Certifications
15.2.2.3 Sanskar Info TV Pvt. Ltd.
15.2.2.3.1 Company Overview
15.2.2.3.2 Product Portfolio
15.2.2.3.3 Demographic Reach and Achievements
15.2.2.3.4 Certifications
15.2.2.4 Others
15.2.3 By Religious Travel Companies
15.2.3.1 Yatra Online Limited
15.2.3.1.1 Company Overview
15.2.3.1.2 Product Portfolio
15.2.3.1.3 Demographic Reach and Achievements
15.2.3.1.4 Certifications
15.2.3.2 Tour My India Pvt Ltd
15.2.3.2.1 Company Overview
15.2.3.2.2 Product Portfolio
15.2.3.2.3 Demographic Reach and Achievements
15.2.3.2.4 Certifications
15.2.3.3 Travel Planner
15.2.3.3.1 Company Overview
15.2.3.3.2 Product Portfolio
15.2.3.3.3 Demographic Reach and Achievements
15.2.3.3.4 Certifications
15.2.3.4 Spiritual India Tours
15.2.3.4.1 Company Overview
15.2.3.4.2 Product Portfolio
15.2.3.4.3 Demographic Reach and Achievements
15.2.3.4.4 Certifications
15.2.3.5 Others
15.2.4 By Merchandise Companies
15.2.4.1 Moksh Agarbatti
15.2.4.1.1 Company Overview
15.2.4.1.2 Product Portfolio
15.2.4.1.3 Demographic Reach and Achievements
15.2.4.1.4 Certifications
15.2.4.2 ITC Limited
15.2.4.2.1 Company Overview
15.2.4.2.2 Product Portfolio
15.2.4.2.3 Demographic Reach and Achievements
15.2.4.2.4 Certifications
15.2.4.3 NR Group
15.2.4.3.1 Company Overview
15.2.4.3.2 Product Portfolio
15.2.4.3.3 Demographic Reach and Achievements
15.2.4.3.4 Certifications
15.2.4.4 One Point Six Technologies Pvt Ltd (Leadstart)
15.2.4.4.1 Company Overview
15.2.4.4.2 Product Portfolio
15.2.4.4.3 Demographic Reach and Achievements
15.2.4.4.4 Certifications
15.2.4.5 Others
15.2.5 By Online Service Providers
15.2.5.1 Rgyan
15.2.5.1.1 Company Overview
15.2.5.1.2 Product Portfolio
15.2.5.1.3 Demographic Reach and Achievements
15.2.5.1.4 Certifications
15.2.5.2 Kalpnik Technologies Pvt Ltd
15.2.5.2.1 Company Overview
15.2.5.2.2 Product Portfolio
15.2.5.2.3 Demographic Reach and Achievements
15.2.5.2.4 Certifications
15.2.5.3 Templefolks
15.2.5.3.1 Company Overview
15.2.5.3.2 Product Portfolio
15.2.5.3.3 Demographic Reach and Achievements
15.2.5.3.4 Certifications
15.2.5.4 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Religious and Spiritual Market: Key Industry Highlights, 2018 and 2032
2. India Religious and Spiritual Market: Key Industry Highlights, 2018 and 2032
3. India Religious and Spiritual Historical Market: Breakup by Religion (USD Million), 2018-2023
4. India Religious and Spiritual Market Forecast: Breakup by Religion (USD Million), 2024-2032
5. India Religious and Spiritual Historical Market: Breakup by Income Source (USD Million), 2018-2023
6. India Religious and Spiritual Market Forecast: Breakup by Income Source (USD Million), 2024-2032
7. India Religious and Spiritual Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
8. India Religious and Spiritual Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
9. India Religious and Spiritual Historical Market: Breakup by Region (USD Million), 2018-2023
10. India Religious and Spiritual Market Forecast: Breakup by Region (USD Million), 2024-2032
11. India Religious and Spiritual Market Structure
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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