According to 'The Future of World Religions: Population Growth and Projections, 2010-2050' study, all the major world's religions will see a marked increase in numbers by 2050, with the exception of Buddhists.
Islam will grow faster than any other faith and by 2050, Islam and Christianity will nearly equal in number.
The study also forecasts that Muslims will make up to 10 per cent of Europe's total population by 2050 if current fertility rates and youth populations grow at their present rate.
Since Muslims are predicted to increase in number by 73 per cent and Christians about half as fast at 35 per cent, Muslims are projected to outnumber Christians worldwide around 2070.
Muslims, "other religions" and those unaffiliated with religion are expected to see the largest rise in North America, reported CBS News.
By 2050, the US is projected to have more Muslim than Jewish people.
Muslims have been identified to have the highest fertility rate with an average of 3.1 children per woman. Christians come second with an average of 2.7 children per woman.
According to the study, in 2010, over a quarter of the world's population was under 15 with Muslims comprising over one third of the total youth population as compared to Christians who accounted for 27 per cent of the total.
Christianity was the world's largest religion in 2010 with an estimated 2.2bn followers, followed by Islam with a close 1.6bn followers.