Overview and Scope
Social assistance refers to beneficial services provided by public institutions in addition to or beyond social security benefits to ensure that the basic needs of those lacking sufficient resources are met. Social assistance aims to reach the poorest and/or most vulnerable sections of society and provide a minimum basic standard of living.
Sizing and Forecast
The social assistance market size has grown strongly in recent years. It will grow from $1725.74 billion in 2023 to $1834.24 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to social welfare programs, economic factors, aging population, healthcare services.
The social assistance market size is expected to see strong growth in the next few years. It will grow to $2320.58 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to demographic shifts, economic recovery and resilience, mental health services, childcare services, substance abuse and addiction services. Major trends in the forecast period include digital transformation, mental health and wellness support, childcare and early childhood education, technology-enabled social assistance, community engagement and volunteerism.
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Segmentation & Regional Insights
The social assistance market covered in this report is segmented –
1) By Type: Child Day Care Services, Community And Individual Services
2) By Mode: Online, Offline
3) By Application: Food Stamp Program, Disaster Relief Services, Adoption Services, Self-help
Subsegments Covered: Baby And Child Day Care Centers, Pre-Kindergarten And Preschool Centers, Nursery Schools, Community Food, Housing, And Relief Services, Individual And Family Services
Western Europe was the largest region in the social assistance market in 2023. Asia-Pacific was the second-largest region in the social assistance market. The regions covered in the social assistance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
An expected increase in the women’s employment rate in the forecast period is estimated to drive the market for social assistance. For instance, the share of women in the labor force in the USA is expected to increase by 47.2% in 2024, driving the demand for on-site childcare facilities at corporates. The rise of the on-site child care market is also highly supported by government initiatives to encourage women to work, which will directly contribute to the growth of the child care market in the forecast period, thereby driving the social assistance market.
Key Industry Players
Major companies operating in the social assistance market include United Nations World Food Program, The Salvation Army International Trustee Co, United Nations International Children’s Emergency Fund, Bright Horizons Family Solutions Inc., Sanctuary Housing, KinderCare Learning Centers LLC, Food For The Poor Inc., Goodstart Early Learning Ltd., Primrose Schools, G8 Education Ltd., Young Men’s Christian Association, Boys & Girls Clubs of America Inc., American Cancer Society Inc., Catholic Charities USA, Goodwill Industries International Inc., American Red Cross, Feeding America, Habitat for Humanity International Inc., United Way of America, The Nature Conservancy, Humane Society of the United States, The Trevor Project Inc., St. Jude Children’s Research Hospital Inc., Big Brothers Big Sisters of America, Amyotrophic Lateral Sclerosis Association, The Michael J. Fox Foundation for Parkinson’s Research, The Leukemia & Lymphoma Society Research Programs Inc., Alzheimer’s Disease and Related Disorders Association Inc., American Heart Association Inc., American Lung Association, Arthritis Foundation, The Multiple Sclerosis Society of India, National Kidney Foundation of Arizona, National Breast Cancer Foundation Inc., Muscular Dystrophy Association, Cystic Fibrosis Foundation.
The social assistance market report table of contents includes:
1. Executive Summary
- Social Assistance Market Characteristics
- Social Assistance Product/Service Analysis -Product/Service Examples
- Social Assistance Market Trends And Strategies
- Social Assistance Market – Macro Economic Scenario
- Global Social Assistance Market Size and Growth
- Social Assistance Market Segmentation
……………..
- Key Mergers And Acquisitions In The Social Assistance Market
- Social Assistance Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Social Assistance Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Social Assistance Market, Segmentation By Mode, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Social Assistance Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
……………
Table 144: United Nations World Food Program Financial Performance
Table 145: The Salvation Army International Trustee Co Financial Performance
Table 146: United Nations International Children’s Emergency Fund Financial Performance
Table 147: Bright Horizons Family Solutions Inc. Financial Performance
Table 148: Sanctuary Housing Financial Performance
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