Religious Organizations Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 12/11/2023
SIC Codes: 8661
NAICS Codes: 8131
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
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Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Religious Organizations Industry Profile

Religious organizations operate churches, temples, monasteries, mosques, and similar places of worship. The largest groups include Christians, Muslims, and Hindus; major types of Christian churches include Catholic, Protestant, and Eastern Orthodox.

Religious organizations count about 6 billion followers worldwide, with Christians account for about 2 billion of the world's population, followed by Muslims (1.8 billion) and Hindus (1.1 billion), according to Brittanica. Among the world's Christian denominations, Catholics are the most numerous. Sizes of individual congregations vary greatly.

In the US, religious organizations encompass about 350,000 congregations, according to Hartford Institute for Religious Research and Journal for the Scientific Study of Religion. Two-thirds of Americans identify as Christian, according to Pew Research. Protestants represent the largest share of Christians in the US.

COMPETITIVE LANDSCAPE

Demand is driven by consumers' desire for spiritual growth, guidance, inspiration, and demographics — older Americans are most likely to attend church. The profitability of a church depends primarily on the congregation's ability to attract members who can provide financial support. Large congregations have advantages in their ability to offer more programs and activities. Small congregations can compete effectively by maintaining stronger connections with members.

Although a significant number of Americans belong to a church, the number of adults having no religious preference is seeing growth. Major factors for attending a place of worship include sermons that teach more about scripture or help members become more connected to religion, ...

 
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