Death Care Services Global Market to Reach $189.8 Billion by 2030: Environment Friendly Green Burials Rise in Popularity
Global Market for Death Care Services
Dublin, March 13, 2023 (GLOBE NEWSWIRE) -- The "Death Care Services: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Death Care Services estimated at US$118.3 Billion in the year 2022, is projected to reach a revised size of US$189.8 Billion by 2030, growing at a CAGR of 6.1% over the analysis period 2022-2030.
Funeral Homes & Funeral Services, one of the segments analyzed in the report, is projected to record 5.9% CAGR and reach US$131.9 Billion by the end of the analysis period.
Taking into account the ongoing post pandemic recovery, growth in the Cemeteries & Crematories segment is readjusted to a revised 6.6% CAGR for the next 8-year period.
The U.S. Market is Estimated at $39.9 Billion, While China is Forecast to Grow at 7.8% CAGR
The Death Care Services market in the U.S. is estimated at US$39.9 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$24.1 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 6.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR.
Select Competitors (Total 220 Featured) -
Arbor Memorial Inc.
Carriage Services, Inc.
Charbonnet Labat Funeral Home
Classic Memorials Inc
Creter Vault Corporation
Doric Products Inc
Foundation Partners Group LLC
Fu Shou Yuan International Group Limited
Giles Memory Gardens
Hillebrand Funeral Homes Inc
Kepner Funeral Homes
McMahon, Lyon & Hartnett Funeral Home, Inc.
Musgrove Mortuaries & Cemeteries
Nirvana Asia Ltd.
NorthStar Memorial Group, LLC
Service Corporation International
StoneMor Partners L.P.
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
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 digital archives and Research Platform
Complimentary updates for one year
No. of Pages
2022 - 2030
Estimated Market Value (USD) in 2022
Forecasted Market Value (USD) by 2030
Compound Annual Growth Rate
Key Topics Covered:
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?
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
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
Death Care Services - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Death Care Services: A Prelude
Global Market Prospects & Outlook
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
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
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
Median Cost of Funeral by Item in the US for 2021
Demand for Advance Funeral Planning Driven by Aging Population
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
Global Cancer Incidence: Number of New Cancer Cases in Million for the Years 2018, 2020, 2025, 2030, 2035 and 2040
Number of New Cancer Cases and Deaths (in Million) by Region for 2020
World Diabetes and Population Statistics (2021, 2030 & 2045)
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
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
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