The market that keeps on giving – Global NGOs and charitable organization revenues are expected to reach $369 Bn by 2025

The Business Research Company’s NGOs And Charitable Organizations Global Market Report 2022: Market Size, Trends, And Forecast To 2026

LONDON, GREATER LONDON, UK, January 26, 2022 /EINPresswire.com/ -- The Global Non-Governmental Organizations (NGOs) and Charitable Organizations market has largely recovered from the relatively modest impact of COVID-19 on this sector, and now reflects the economic fortunes of the different regions. In 2021, the global market was dominated by the Asia Pacific region. Increasing charitable giving in emerging markets is primarily due to economic growth and increased disposable income. This, coupled with the impact of increasing personal and corporate social responsibility and the increasing use of social media for fund raising such as donation-based crowd funding and virtual charity events, are likely to drive revenue growth in the NGOs and charitable organizations over the next 5 years.

The NGOs and charitable organizations market consists of the revenues generated by these companies, including grant-making foundations or charitable trusts and other establishments engaged in raising funds for a wide range of social welfare activities, such as health, educational, scientific, and cultural activities.

The outbreak of the Coronavirus disease (COVID-19) has acted as a modest restraint on the global NGOs and charitable organizations market in 2020, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. Despite this, the pandemic also boosted public and corporate altruism and charitable giving in sectors linked to health and social deprivation. As a result, the global NGOs and charitable organizations market fell by 1.8% to $280 billion in 2020 but bounced back to revenues of $286 billion in 2021, matching the pre-COVID revenues of $285 billion in 2019.

Trusts and Foundations remain the dominating segment, accounting for 57.7% ($165 billion) of NGOs and charitable organizations revenues in 2021. Voluntary Health Organizations and Other NGOs and Charitable Organizations account for 16.7% and 12.4% of NGOs and charitable organizations revenues, respectively. As per data from the Global Market Model, the market is expected to reach $370 billion in 2025 at a CAGR of 6.7%.

In 2021, Asia Pacific remained the largest region in the global NGOs and charitable organizations market, accounting for 38.1% of the market. North America and Western Europe were the second and third largest regions, accounting for 29.1% and 19.2% of the global NGOs and charitable organizations market, respectively. Africa was the smallest region in the global NGOs and charitable organizations market. From 2021 to 2025, revenue growth is expected to be highest in the Middle East and Asia Pacific regions, with CAGRs of 9.5% and 8.6% respectively, over this period.

Increases in personal and corporate social responsibility are a major driver for revenue growth in the NGOs and charitable organizations market. Increasing corporate social responsibility will contribute to the growth of the NGOs and charitable organizations market. Corporate Social Responsibility (CSR) is a concept, in which the companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. Companies are increasingly prioritizing corporate social responsibility as a part of their vision to support social causes. Importantly, millennials and higher income groups prefer to be associated with brands that are committed to social causes. This is increasing companies’ CSR expenditure. For instance, Sysco, an American multinational food products company, as a part of its 2025 responsibility goals, will donate 200 million meals and contribute $50 million to local communities. Increasing CSR will positively impact the market for NGOs and charitable organizations, going forward.

Social Media has become increasingly important to revenue generation in the NGO and charitable organizations market. Donation-based crowdfunding, or nonprofit crowdfunding, involves individuals raising money for friends, family, or even strangers using crowdfunding platforms easily accessible on the internet and social media. Individuals also use peer-to-peer fundraising on these platforms to raise money for a specific charity or cause. Similarly, in-person fundraising events, traditionally a vital source of revenue for many charities, have moved on-line. Events raise resources, allow charities to engage with supporters, and form an essential element in building and growing personal relationships. In-person events were largely absent throughout the second half of 2020, which had a significant impact on fundraising. But charities have adapted to meet the ‘new normal’. The absence of in-person events has led to an explosion in virtual events.

Virtual events offer myriad benefits for charities. They limit costs and increase the pool for participation. Charities do not need to hire venues, pay for catering, or cover many of the administrative costs of in-person events. Effective virtual events demand only a strong message, an engaged audience, and enthusiastic participants. Virtual conferences allow people to attend from the comfort of their own home. Charities can therefore overcome geographical limitations. Virtual conferences can engage speakers, sponsors, and supporters who otherwise may have been unable to join. Attendees do not have to book flights, other forms of travel, hotel rooms, or any other necessities. All they must do is turn on their computers, which offers the additional benefit of limiting carbon emissions. It is expected that this trend will continue to underwrite growth throughout the forecast period.

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