A group that is not organized with the goal of making a profit and in which no portion of the organization's income is allocated to its members, directors, or executives is referred to as a non-profit organization (sometimes abbreviated as NPO). "Non-stock corporations" is a word that is commonly used to refer to corporations that are not for profit.
Nonprofit organizations and other types of businesses have had to navigate waves of constant change and uncertainty in the past year as a direct result of the COVID-19 pandemic, which caused conditions not seen in recorded history. In order for nonprofit organizations to remain operational in the face of unavoidable closures, extended periods of working from home, and a lack of consistency regarding reopening plans, these organizations have had to continually adapt by putting into practice strategies such as online fundraising for nonprofits.
North America will dominate the Non-Profit Organizations Market
The robust expansion of economies in North America's emerging markets and rising household disposable income were the primary contributors to growth in the region. In the historical period, growth was negatively impacted by several factors, including government bans on certain types of funding sources, as well as improper use of funding.
Asia-Pacific will see a stable growth rate in the period of interest
As a result of improvements in corporate social responsibility, the market in Asia-Pacific for nonprofit organizations is expected to grow. The concept of "Corporate Social Responsibility" (CSR) refers to the way in which businesses integrate concerns about the community and the environment into their day-to-day operations and their relationships with various stakeholders. The concept of social responsibility on the part of businesses as an integral part of their overarching strategies to address societal issues is receiving an increasing amount of attention.
The Educational Institutes Segment will dominate the Non-Profit Organizations Market
The number of people seeking education is on the rise, and businesses in the private sector are beginning to recognize the market's potential. Due to the extremely high level of interest in receiving an education, the number of private universities has exploded over the past five years, significantly outpacing the growth of any other type of university.
The market size for nonprofit organizations was estimated to be 264.73 billion dollars in 2022, and it is anticipated that the total income would expand at a CAGR of 4.53% from 2022 to 2029, eventually reaching almost 377.31 billion dollars by 2029.
The growth that occurred throughout the historical period was driven by a robust economic expansion in developing countries, and a rise in the number of money customers had available to spend. During the historical period, expansion was hindered by intentional and unintentional mismanagement of financial resources and by governmental restrictions placed on certain types of funding sources.
Future expansion will be aided by factors such as growing corporate social responsibility, ened understanding of the importance of protecting the environment, and expanded use of the internet. Future expansion of the market for nonprofit organizations may be hampered by a number of variables, including but not limited to ened geopolitical tensions, stringent regulations, and COVID-19.
Because it is more convenient, donors are increasingly turning to mobile devices to make donations to charitable organizations. Mobile technology allows for improved communication with an organization's supporters, as well as a more streamlined and hassle-free means of raising funds for the group. Donations made using mobile apps are increasingly being supported and promoted by charitable groups.
The market for charitable organizations is expected to grow as improvements are made to corporate social responsibility. The notion of "Corporate Social Responsibility" (CSR) refers to how corporations integrate concerns about the community and the environment into their day-to-day operations and relationships with various stakeholders.
The concept of social responsibility on the part of businesses as an integral part of their overarching strategies to address societal issues is receiving increasing attention. Additionally, millennials have a preference for associating themselves with businesses that are socially conscious.
Among the leading companies in the global non-profit organization market are Nanhi Kali, American RedCross, UNICEF USA, Natural Resources Defense Council, Feed the Children, The Rotary Foundation, The Nature Conservancy, AmeriCares, The Direct Relief Médecins Sans Frontières, Helpage India, Goonj, Give India Foundation, Bill & Melinda Gates Foundation, and Smile Foundation.
- A great deal of uncertainty has been brought about as a result of the current political climate, which has an effect on everything from the legislation.
- In these uncertain and rapidly shifting times, nonprofit organizations have been charged with the responsibility of continuing to pursue their missions.
- Because of shifts in both technology and the ways in which individuals take in and process information, nonprofit organizations need to exercise a greater degree of creativity in their approaches to social media, outreach, and communications.
- As the paradigm of charitable giving continues to shift, nonprofit organizations have a responsibility to monitor the ways in which their core donor base is shifting and the ways in which these shifts may affect them.
Non-Profit Organization Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2029||USD 377.31 billion.|
|Growth Rate||CAGR of 4.53% during 2021-2029|
|Segment Covered||By Type, By End- User, By Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Nanhi Kali, American RedCross, UNICEF USA, Natural Resources Defense Council, Feed the Children, The Rotary Foundation, The Nature Conservancy, AmeriCares, The Direct Relief Médecins Sans Frontières, Helpage India, Goonj, Give India Foundation, Bill & Melinda Gates Foundation, and Smile Foundation.|
Key segments in ‘Global Non-Profit Organization Market’
By Type, 2019-2029 (USD Billion)
- Private Foundations
- Private Orienting Foundations
- Public Charities
By End-User, 2019-2029 (USD Billion)
- Large Enterprises
By Application, 2019-2029 (USD Billion)
- Educational Institutes
- Human Service Group
- Healthcare Units
- Religion Establishment
- Environmental Institution
- Animal Welfares
By region, 2019-2029 (USD Billion)
- North America
- The United States of America
- The United Kingdom
- South Korea
- South America