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Death Care Services Global Market to Reach $189.8 Billion by 2030: Environment Friendly Green Burials Rise in Popularity

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Global Market for Death Care Services

Global Market for Death Care Services
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.

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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.

  • Baalmann Mortuary

  • Carriage Services, Inc.

  • Charbonnet Labat Funeral Home

  • Classic Memorials Inc

  • Creter Vault Corporation

  • Dignity plc

  • Doric Products Inc

  • Foundation Partners Group LLC

  • Fu Shou Yuan International Group Limited

  • Giles Memory Gardens

  • Hillebrand Funeral Homes Inc

  • InvoCare Limited

  • 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

Key Attributes:

Report Attribute

Details

No. of Pages

525

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$118.3 Billion

Forecasted Market Value (USD) by 2030

$189.8 Billion

Compound Annual Growth Rate

6.1%

Regions Covered

Global

Key Topics Covered:

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?

  • 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

  • Competition

  • 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

  • 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

  • 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

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/flxxwd

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