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Death Care Services - Global Market Trajectory & Analytics

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    Report

  • 525 Pages
  • April 2022
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 5141466

Global Death Care Services Market to Reach US$154.5 Billion by the Year 2027


Amid the COVID-19 crisis, the global market for Death Care Services estimated at US$100.7 Billion in the year 2020, is projected to reach a revised size of US$154.5 Billion by 2027, growing at a CAGR of 6.3% over the period 2020-2027. Funeral Homes & Funeral Services, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$108 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cemeteries & Crematories segment is readjusted to a revised 6.8% CAGR for the next 7-year period. This segment currently accounts for a 29.1% share of the global Death Care Services market.



The U.S. Accounts for Over 33.9% of Global Market Size in 2020, While China is Forecast to Grow at a 8% CAGR for the Period of 2020-2027


The Death Care Services market in the U.S. is estimated at US$34.1 Billion in the year 2020. The country currently accounts for a 33.92% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$18.7 Billion in the year 2027 trailing a CAGR of 8% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.1% and 6.3% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 5.6% CAGR while Rest of European market (as defined in the study) will reach US$18.7 Billion by the year 2027.

Select Competitors (Total 220 Featured) -

  • Astral Industries, Inc.
  • Baalmann Mortuary
  • Charbonnet Family Services
  • CJ. Boots Casket Company
  • Classic Memorials Inc
  • Creter Vault Corporation
  • Doric Products Inc
  • Giles Memory Gardens
  • Hillebrand Funeral Homes Inc
  • Kepner Funeral Homes
  • McMahon, Lyon & Hartnett Funeral Home, Inc.
  • Musgrove Mortuaries & Cemeteries
  • NorthStar Memorial Group, LLC
  • StoneMor Partners L.P.

What's New for 2022?

  • Global competitiveness and key competitor percentage market shares
  • Market presence across multiple geographies - Strong/Active/Niche/Trivial
  • Online interactive peer-to-peer collaborative bespoke updates
  • Access to the publisher's digital archives and Research Platform
  • Complimentary updates for one year
Frequently Asked Questions about the Global Market for Death Care Services

What is the estimated value of the Global Market for Death Care Services?

The Global Market for Death Care Services was estimated to be valued at $100.7 Billion in 2020.

What is the growth rate of the Global Market for Death Care Services?

The growth rate of the Global Market for Death Care Services is 6.3%, with an estimated value of $154.5 Billion by 2027.

What is the forecasted size of the Global Market for Death Care Services?

The Global Market for Death Care Services is estimated to be worth $154.5 Billion by 2027.

Who are the key companies in the Global Market for Death Care Services?

Key companies in the Global Market for Death Care Services include Astral Industries, Inc., Baalmann Mortuary, Charbonnet Family Services, CJ. Boots Casket Company, Classic Memorials Inc, Creter Vault Corporation, Doric Products Inc, Giles Memory Gardens and Kepner Funeral Homes.

Table of Contents

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Caring for the Dead is a Sacred Task for Humans, A Culture That Provides the Cornerstone for Growth in the Death Care Services Market
  • Impact of COVID-19 Pandemic and Looming Global Recession
  • 2020 Marked as a Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed?
  • EXHIBIT 1: World Economic Growth Projections (Real GDP, Annual % Change) for 2020 through 2022
  • A Sad Reality COVID-19 Pushes Up Demand for Funeral Services
  • Steeped in Ritual, Farewell for the Dead Due to COVID or Otherwise Drives Demand for Funeral Services
  • EXHIBIT 2: COVID-19 Deaths Push Up Demand for Funeral Services: Global COVID-19 Deaths (In 000s) As of 04 April 2022 by Country
  • COVID-19 Impact on the US Death Care Industry
  • Competition
  • EXHIBIT 3: Death Care Services - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for 73 Players Worldwide in 2022 (E)
  • Death Care Services: A Prelude
  • Global Market Prospects & Outlook
  • World Brands
  • Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Death Industry Journeys Into the Digital Afterlife: COVID-19 Exposes the Fragility of Human Death Rituals & Steps Up the Role of Digital Technologies
  • Death Care Industry Embraces Technology and Innovation in a Major Way
  • Death Care Startups Exploring Innovative Ways of Honoring Loved Ones
  • Funeral Home Software to Maintain Relevance in Death Care Space
  • Death Care Practices becoming Economically Distressing & Environmentally Cataclysmic
  • For the Cycle of Life to Continue, Environment Friendly Green Burials Rise in Popularity
  • Driven By Burial Plot Shortages, Cremation Rises in Popularity Over Traditional Burials
  • EXHIBIT 4: Convenience, Cost Effectiveness & Environment Friendly Benefits to Help Cremation Bypass Casket Burials by the Year 2035: % Share of Cremation in North America for Years 1960 Through 2035
  • EXHIBIT 5: Cremation Rates (in %) for Select Countries (2021)
  • Notable Trends Influencing Death Care Industry
  • With the Pandemic Pushing Millions Into Poverty & Unemployment, Crowdfunding for Funeral Services Gains Momentum
  • Need for Government to Support Death Care
  • Entry of Ecommerce Retailers Offering Affordably Priced Burial and Memorial Products
  • Death Care Startups Follow Footprints of E-Commerce Players to Push Gains
  • Rising Funeral Costs: Opportunities for Death Care Services Market
  • EXHIBIT 6: Median Cost of Funeral by Item in the US for 2021
  • Demand for Advance Funeral Planning Driven by Aging Population
  • EXHIBIT 7: Global Population In the 65+ Age Group in Million by Geographic Region for the Years 2019, 2025, 2035 and 2050
  • Increasing Prevalence of Chronic & Lifestyle Diseases to Propel Market Growth
  • EXHIBIT 8: Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
  • EXHIBIT 9: Number of New Cancer Cases and Deaths by Region for 2020
  • EXHIBIT 10: World Diabetes and Population Statistics (2021, 2030 & 2045)
  • EXHIBIT 11: Global HIV Prevalence: Number of People Living with AIDs (in Million) by Region as of June 2021
  • COVID-19 Pandemic-Triggered Rise in Demand for Cadaver Bags Stands Testimony to the Human Tragedy: Implications for the Death Care Industry
  • EXHIBIT 12: Global Demand Spike for Cadaver Bags Highlights Excess Deaths Associated with COVID-19: Global Market for Cadaver Bags (In US$ Million) for Years 2018 Through 2022
  • Exploitative Side of Death Care

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Death Care Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • US Death Care Market Only Poised to Continue Moving Ahead
  • EXHIBIT 13: Number of Deaths Per 1000 Population in the US (1995-2030)
  • EXHIBIT 14: North American Elderly Population by Age Group: 1975-2050
  • Shift towards Cremation Services Over Burials
  • EXHIBIT 15: Cremation Rate and Burial Rate (in %) in the US for 2005-2030
  • Funeral Homes & Pre-Need Arrangements: Trending Segments of US Death Care Market
  • Interesting Dynamics with Potential to Reshape US Death Care Market
  • Competition
  • EXHIBIT 16: US Death Care Service Market: Leading Players by Revenue Breakdown (in %) for 2022 (E)
  • Market Analytics

CANADA


JAPAN


CHINA

EUROPE

  • Death Care Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)
  • Market Analytics

FRANCE


GERMANY


ITALY


UNITED KINGDOM


SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Death Care Services Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Analytics

LATIN AMERICA


REST OF WORLD

IV. COMPETITION

  • Total Companies Profiled: 220

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Astral Industries, Inc.
  • Baalmann Mortuary
  • Charbonnet Family Services
  • CJ. Boots Casket Company
  • Classic Memorials Inc
  • Creter Vault Corporation
  • Doric Products Inc
  • Giles Memory Gardens
  • Hillebrand Funeral Homes Inc
  • Kepner Funeral Homes
  • McMahon, Lyon & Hartnett Funeral Home, Inc.
  • Musgrove Mortuaries & Cemeteries
  • NorthStar Memorial Group, LLC
  • StoneMor Partners L.P.