Social Assistance Global Market Sees Growth Rate Of 12% Through 2022

The global social assistance market size is expected to grow from $1.54 trillion in 2021 to $1.73 trillion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The social assistance market is expected to reach $2.63 trillion in 2026 at a CAGR of 11.1%.

What is the Global Social Assistance Market?

The social assistance market consists of the revenues from social assistance services by entities (organizations, sole traders and partnerships) that provide social assistance services such as child day care services, community food housing and relief services, vocational rehabilitation services and individual and family services. These services do not include residential or accommodation services, except on a short-day basis. The social assistance market is segmented into child day care services and community and individual services.

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What drives the Global Social Assistance Market?

An expected increase in the women employment rate in the forecast period is estimated to drive the market for child care. For instance, the share of women in the labor force in the USA is expected to increase 47.2% in 2024, driving the demand for on-site child care 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.

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Global Social Assistance Market Segments
The global social assistance market is segmented:
By Type: Child Day Care Services, Community and Individual Services
By Mode: Online, Offline
By Application: Food Stamp Program, Disaster Relief Services, Adoption Services, Self-Help
By Geography: The regions covered in the social assistance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Social Assistance Global Market Report 2022provides market size and growth forecasts for the global social assistance market, global social assistance market share, social assistance market segments and geographies, social assistance market competitive landscape including leading competitors’ revenues, profiles and market shares. The social assistance market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Social Assistance Industry Playersinclude World Food Programme, THE SALVATION ARMY INTERNATIONAL TRUST, UNICEF, Bright Horizons Family Solutions, Sanctuary Housing, KinderCare Education, Food For Poor, Goodstart Early Learning, Primrose Schools, and G8 Education. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.