Summary
Major players in the child and youth services market are Children Aid And Family Services, UNICEF (United Nations Children Fund), International Foster Care Organization, International Society For Prevention of Child Abuse And Neglect (ISPCAN), CARE International, Stepstone Family & Youth Services, North East Independent Living Services, Child Welfare League of America, United States Children’s Bureau, The European Child Safety Alliance, and Voices of Youth.
The global child and youth services market will grow from $140.29 billion in 2022 to $149.27 billion in 2023 at a compound annual growth rate (CAGR) of 6.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The child and youth services market is expected to grow to $185.36 billion in 2027 at a CAGR of 5.6%.
The child and youth services market consists of revenues earned by entities that provide non-residential social assistance to children and youth.The child and youth services market includes establishments such as adoption agencies, youth centers, child guidance organizations, youth self-help organizations, foster care placement services.
The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Child services refer to health, mental, social, and rehabilitative assistance services for children provided by public and private agencies. Youth services refer to health, mental, social, and rehabilitative assistance services offered by public and private agencies for children and youth.
Western Europe was the largest region in the child and youth services market in 2022.Asia Pacific was the second-largest region in the child and youth services market.
The regions covered in the child and youth services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main services types of child and youth services are foster and guardianship placement services, counseling and information services, social assistance services, children and youth recreational programs, private and state adoption services, and others.Social assistance organizations offer a wide range of services, such as assisting the homeless, counseling troubled individuals, training the unemployed or underemployed, and assisting families in obtaining financial assistance.
The services are provided to various age groups including infants, children, adolescents, and youth. The different modes include online and offline.
The benefits from community programs for children and youth contributed to the growth of the child and youth services market. According to youth.gov, young people surrounded by a variety of opportunities engage in less risky behavior when in adulthood. A study was conducted that for the first five years where youth are involved in the 4-H youth development program, they showed a lower risk of having social, and personal behavioral problems and four times more likely to contribute to the communities, and two times as likely to be civically active. These factors are expected to have a positive impact on the child and youth services market’s growth.
The lack of employment and job training in foster care is expected to hinder the growth of the child and youth services market.According to Foster, a US-based non-profit organization, after aging out of foster care, homelessness and unemployment become a huge challenge for youth.
Although there are more than 34 million entry-level jobs national wide in the US, many foster youths are not prepared for being independent and do not have the skills or resources needed for the opportunities.Access to technology is crucial for foster children to be competing with their peers.
Foster youth do not receive the same resources and opportunities as their peers.For instance, only 5% of rural, and 21% of urban foster youth have access to a computer at home.
Therefore, the lack of employment and job training facilities in foster care and some communities has a negative impact on the child and youth services market.
Predictive analytics is a technique increasingly used by communities for the welfare of children and youth.Predictive analytics in the context of child welfare is commonly about maltreatment risk levels.
The approach works through quantifying the risk and can be used to target the services that are given to children, families, and communities that are most likely to have benefits.For instance, the Illinois Department of Children and Family Services used a predictive analysis model to understand the children who were at risk of placement in congregate care settings.
The predictive analytics identified a set of predictors including behavioral and emotional problems of children. This helped the department to design and implement a therapeutic foster care intervention that could be an alternative for congregate care.
In April 2021, Clifford Beers, a US-based children’s mental health outpatient clinic acquired Farnam House for an undisclosed amount.Clifford Beers acquired Farnam House to bridge current programming and connect local adolescents to additional services.
Farnam House is a community center that offers educational and recreational opportunities to young people in the area.
The countries covered in child and youth services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The child and youth services market research report is one of a series of new reports that provides child and youth services market statistics, including child and youth services industry global market size, regional shares, competitors with a child and youth services market share, detailed child and youth services market segments, market trends and opportunities, and any further data you may need to thrive in the child and youth services industry. This child and youth services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
