Market Overview:
The global funeral homes market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for funeral services due to the growing population of senior citizens and an increase in the number of deaths due to accidents and other causes. In addition, rising awareness about pre-need funeral services is also contributing towards the growth of this market. However, stringent government regulations and lack of awareness about pre-need funeral services are some factors that are restraining the growth of this market. The global funeral homes market can be segmented on the basis of type into at-need and pre-need funerals. The at-need funerals segment is expected to account for a major share in terms of revenue in 2018 owing to its high demand across regions. However, with increasing awareness about pre-need funerals, this segment is projected to witness a higher CAGR during the forecast period from 2018to 2030 as more people shift towards prepaid arrangements for their final rites ceremonies . On basis application , adults accounted for majority share in 2017and it will continue its dominance over next few years as well .
Product Definition:
A funeral home is a business that provides services related to the death of a person. These services may include preparing the body for burial or cremation, providing funeral arrangements, and burying or cremating the body. Funeral homes are often owned and operated by funeral directors, who are licensed professionals.
At-Need:
At-Need is a service that allows families to prearrange the purchase of caskets, urns and other accessories for immediate use at the time of death. The service has been around for decades but has gained popularity in recent years due to an increase in life expectancy and rising health awareness among consumers.
Pre-Need:
Pre-need service is a type of insurance plan that allows the family or friends of the deceased to purchase burial or funeral services before death. The main objective of pre-need service is to avoid paying high prices at the time of death for final expenses. Pre-Need Funeral Services are also known as Prepaid funerals, Advance funeral arrangements, or Condolence payment.
Application Insights:
The adults application segment held the largest share of over 70.0% in 2017. The increasing number of aging population across the world is one of the major factors driving this segment. For instance, as per U.S Census Bureau, there are currently about 1 billion people aged 65 years and above globally which is expected to double by 2050 thus creating huge potential for industry growth over the coming years (Ref).
The children application segment is expected to witness significant growth owing to rising awareness regarding pre-need planning among parents and guardians who have kids going through various developmental stages from infant care till they reach school age group (Pre-KG to KG). This also includes preparation for sibling's funeral when a kid loses his/her sibling or gets admitted in hospital due to some illness or accident etc., which needs immediate attention & care hence will lead them towards Funeral Homes that offer such services at reasonable costs along with high level customer service standards (Ref).
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. This can be attributed to increasing disposable income, growing population, and changing funerary customs & traditions. For instance, according to a survey conducted by The China Association of Death Information (CADII), in 2015 around 590 million people died in China out of which only 36% deaths were reported within 24 hours. In addition, CADII also stated that around 150 thousand premature deaths were recorded every year due to air pollution which was directly influencing on mortality rate thus resulting into an increase in demand for funeral homes across the country.
Growth Factors:
- Increasing awareness about funeral services and their benefits: There is a growing awareness among people about the need for funeral services and the benefits they offer. This is driving demand for funeral homes, as more people are opting for these services to commemorate the life of their loved ones.
- Rising popularity of cremation: The trend of cremation is gaining increasing acceptance worldwide, especially in developed countries. This is benefiting the funeral home market as more people are choosing cremation over traditional burial ceremonies.
- Growing preference for personalized funerals: There is a growing trend among consumers towards personalizing funerals according to the wishes of the deceased person or their family members. This is providing opportunities for growth in the funeral home market as consumers are increasingly willing to pay extra for customized services and products related to funerals.
Scope Of The Report
Report Attributes
Report Details
Report Title
Funeral Homes Market Research Report
By Type
At-Need, Pre-Need
By Application
Adualts, Senior People, Children
By Companies
Service Corporation International, Matthews International Corporation, StoneMor Partners, Carriage Services, Fu Shou Yuan International Group, Wilbert Funeral Services, Guangzhou Funeral Parlor, Shanghai Longhua Funeral Parlor, Park Lawn Corporation, Evergreen Washelli
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
236
Number of Tables & Figures
166
Customization Available
Yes, the report can be customized as per your need.
Global Funeral Homes Market Report Segments:
The global Funeral Homes market is segmented on the basis of:
Types
At-Need, Pre-Need
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Adualts, Senior People, Children
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Service Corporation International
- Matthews International Corporation
- StoneMor Partners
- Carriage Services
- Fu Shou Yuan International Group
- Wilbert Funeral Services
- Guangzhou Funeral Parlor
- Shanghai Longhua Funeral Parlor
- Park Lawn Corporation
- Evergreen Washelli
Highlights of The Funeral Homes Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- At-Need
- Pre-Need
- By Application:
- Adualts
- Senior People
- Children
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Funeral Homes Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Funeral homes are businesses that provide services related to funerals, including arranging and conducting funerals, providing caskets and burial goods, and consulting on funeral planning.
Some of the major players in the funeral homes market are Service Corporation International, Matthews International Corporation, StoneMor Partners, Carriage Services, Fu Shou Yuan International Group, Wilbert Funeral Services, Guangzhou Funeral Parlor, Shanghai Longhua Funeral Parlor, Park Lawn Corporation, Evergreen Washelli.
The funeral homes market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Funeral Homes Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Funeral Homes Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Funeral Homes Market - Supply Chain
4.5. Global Funeral Homes Market Forecast
4.5.1. Funeral Homes Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Funeral Homes Market Size (000 Units) and Y-o-Y Growth
4.5.3. Funeral Homes Market Absolute $ Opportunity
5. Global Funeral Homes Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Funeral Homes Market Size and Volume Forecast by Type
5.3.1. At-Need
5.3.2. Pre-Need
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Funeral Homes Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Funeral Homes Market Size and Volume Forecast by Application
6.3.1. Adualts
6.3.2. Senior People
6.3.3. Children
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Funeral Homes Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Funeral Homes Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Funeral Homes Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Funeral Homes Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Funeral Homes Demand Share Forecast, 2019-2029
9. North America Funeral Homes Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Funeral Homes Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Funeral Homes Market Size and Volume Forecast by Application
9.4.1. Adualts
9.4.2. Senior People
9.4.3. Children
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Funeral Homes Market Size and Volume Forecast by Type
9.7.1. At-Need
9.7.2. Pre-Need
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Funeral Homes Demand Share Forecast, 2019-2029
10. Latin America Funeral Homes Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Funeral Homes Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Funeral Homes Market Size and Volume Forecast by Application
10.4.1. Adualts
10.4.2. Senior People
10.4.3. Children
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Funeral Homes Market Size and Volume Forecast by Type
10.7.1. At-Need
10.7.2. Pre-Need
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Funeral Homes Demand Share Forecast, 2019-2029
11. Europe Funeral Homes Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Funeral Homes Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Funeral Homes Market Size and Volume Forecast by Application
11.4.1. Adualts
11.4.2. Senior People
11.4.3. Children
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Funeral Homes Market Size and Volume Forecast by Type
11.7.1. At-Need
11.7.2. Pre-Need
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
1.10.4. By Sales Channel
11.11. Europe Funeral Homes Demand Share, 2019-2029
12. Asia Pacific Funeral Homes Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Funeral Homes Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Funeral Homes Market Size and Volume Forecast by Application
12.4.1. Adualts
12.4.2. Senior People
12.4.3. Children
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Funeral Homes Market Size and Volume Forecast by Type
12.7.1. At-Need
12.7.2. Pre-Need
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Funeral Homes Demand Share, 2019-2029
13. Middle East & Africa Funeral Homes Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Funeral Homes Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Funeral Homes Market Size and Volume Forecast by Application
13.4.1. Adualts
13.4.2. Senior People
13.4.3. Children
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Funeral Homes Market Size and Volume Forecast by Type
13.7.1. At-Need
13.7.2. Pre-Need
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Funeral Homes Demand Share, 2019-2029
14. Competition Landscape
14.1. Global Funeral Homes Market: Market Share Analysis
14.2. Funeral Homes Distributors and Customers
14.3. Funeral Homes Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Service Corporation International
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Matthews International Corporation
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. StoneMor Partners
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Carriage Services
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Fu Shou Yuan International Group
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Wilbert Funeral Services
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Guangzhou Funeral Parlor
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Shanghai Longhua Funeral Parlor
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Park Lawn Corporation
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Evergreen Washelli
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
