Global Death Care Services Market Size, Share, Trends & Growth Forecast Report – Segmented By Operations (Funeral Homes and Cemeteries), Arrangement (At-need and Pre-need), Products & Services (Caskets & Vaults, Facility Rentals, Embalming & Cosmetic Preparation, URS and Others) and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Industry Analysis (2024 to 2029)

Updated On: June, 2024
ID: 9135
Pages: 150

Global Death Care Services Market Size (2024 to 2029)

As per our report, the size of the global death care services market is estimated to be worth USD 73.55 billion by 2029, growing at a CAGR of 4% during the forecast period.

Organizations or communities hold death care services to help clients handle the cremation or burial activities of the body. In addition, these organizations offer customized services following the requirements of the customers.

MARKET DRIVERS

Increasing incidences of chronic diseases leading to a rise in deaths worldwide is a key driving factor for the global death care services market.

Changes in lifestyles and a rise in working people with hectic schedules are boosting the demand for the global death care services market. Besides, growing awareness of these services promotes market shares, especially in developed and developing countries. Furthermore, the focus on improving clients' personalized requirements and changing models to deliver quality services is accelerating the growth rate of the death care services market.

Growing support from the government authorities to manage the whole event with optimum care, especially in the military and other sectors, is anticipated to create growth opportunities for the market. The rise in death care services investments is another factor leveling the market demand. In addition, the increasing prevalence of the services associated with death-related rituals such as funerals, burials or cremation, or death memorials is fuelling the death care services market's growth rate. The rise in disposable income in urban areas is also one of the factors leveraging the market's growth rate.

Digital transformation in death care services also drive the market forward in the coming years. More than twenty-five percent of people are planning a funeral service online due to the pandemic. People feel more comfortable with technology expected to drive the death care service market. More than 25 percent of people see about the funeral online. A digital transformation can help to meet consumers by providing efficient, cost-effective services. Attracting new clients in this market is a new way to boost market growth in the coming years.

MARKET RESTRAINTS

However, fluctuations in the availability of raw materials and increasing prices eventually limit the market's growth rate. Lack of complete knowledge and over-utilization of the service in an inappropriate manner are also slowly impeding market demand. People in rural areas are less aware of these new services, which remains a significant challenge for the market developers' death care services. The decreasing number of working people in these death care organizations is also a factor in declining market demand.

REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2023 to 2029

Base Year

2023

Forecast Period

2024 to 2029

Segments Covered

By Operations, Arrangement, Products & Services, and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis; DROC, PESTLE Analysis, Porter's Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leader Profiled

StoneMor, NorthStar Memorial Group, Carriage Services, and Hillenbrand, Astral, Classic Memorials, CJ. Boots Casket Company, Baalmann Mortuary, Campbell Funeral Homes, Charbonnet Family Services, Creter Vault Corporation, Doric Products

SEGMENTAL ANALYSIS

Global Death Care Services Market By Operations

Based on Operations, the Funeral homes segment holds the most significant share of the market, whereas cemeteries are deemed to hit the highest CAGR in the coming years. Funeral homes are involved in retailing memorial and burial products, eventually making the market share move forward. The funeral home sector has expanded due to increasing beyond family-owned and operated funeral homes. Increasing the best customer services and creating new innovative techniques for customer satisfaction drives the market forward.

Next to funeral homes, the Cemetery segment has the largest market share. The National Funeral Directors Association in the United States has estimated that nearly 80% of Americans will opt for cremation by 2035. In 2019, garden cemeteries were the first public parks in the United States. These are known as memorial parks, which were designed as burial grounds and with green space.

Global Death Care Services Market By Arrangement

Based on the arrangement, the at-need category is ruling with dominant market share. The increasing geriatric population is a common factor for the increasing shares of at-need arrangements. At-need services are provided to the families when they have no plan in advance of death. This happens in case of sudden death due to chronic diseases and long-term or short-term medical diagnosis. Therefore, family members select these At-need services.

The pre-need arrangements segment is growing at a CAGR of 2% during the forecast period. Pre-need arrangements are made by the person or family member who will die in a few days or months. More and more Americans are choosing pre-need agreements to purchase funeral and burial products and services before death. In a recent survey, one in five persons above 55 and older are using this funeral purchase, which drives the segment growth.

Global Death Care Services Market By Products & Services

Based on products & services, the Caskets & Vaults type of products & services lead with dominant market share. The easy availability of caskets and vaults in retail stores broadens the demand in the death care services market. These play an essential role in the death care service market. These are used to hold the body during visitations and funeral services. Most critical death service players focus on manufacturing these caskets and vaults, which drives the segment's growth.

Embalming & Cosmetic Preparation is the next segment that drives the market forward. In most developed countries, they also concentrate more on the makeup and cosmetic application to the dead body because, at the funeral, there is a visit section for the dead person to show respect; for this, the family members also focus more on the appearance of the body. So, cosmetics are applied to the body and hair to create a live appearance. Then, based on the body condition, this makeup is applied to the body.

REGIONAL ANALYSIS

Regionally, the North American Death Care Services Market leads with the highest share of the market due to rising incidences of death due to severe diseases. Also, the adoption of modern ways of cremation activities in urban areas is ascribed to bolster the market demand in this region. These death care services are responsible for organizing funerals, burials, and cremations and provide other death-related goods and services in the United States. Nearly 3.5 million people died in 2019 in the United States. Most of the deaths are due to the Covid-19 pandemic and some other chronic diseases. This factor boosts the market growth in this region. In the U.S, this death care service is also used for the military sector. This is used to preserve the bodies of dead soldiers for their trip home. For the long journey of the dead bodies, these services provide arterial injection and treatment chemicals not to infect the dead body. In America, the death care services market provides customer services, so people can contact the death care service providers flexibly and describe the way they want to receive the services. During the COVID-19 pandemic, the Public Health Agency of Canada agreed with the Canadian Public Health and Funeral Service Association of Canada to develop a document that provides guidance and measures for death care services. This includes death care providers at funeral homes, cemeteries and crematorium operators, medical personnel, and any other personnel community members in remote and isolated communities. 

The Europe Death Care Services Market is next in dominating the market shares with the rise in the demand for death care services in the military sector. In recent years, most European start-ups have been working on developing the funeral market in this region by increasing technology and design. This is used to reduce the burden of funeral management, as more people cannot do all the work when they lose loved ones. Therefore, in the coming years, Germany will see stable developments in the death care service. In Germany, one of the restraints of this market is due to the high cost of funeral services. But, based on the manufacturers and government laws, these become cost-effective, driving the market growth in this region.

The Asia Pacific is expected to have a significant growth rate. The increasing population and awareness of the services in most countries are escalating the market demand. For example, in India, death care services support family members who are sad and low because of losing their loved persons. These services take care of all the last rites of the person and complete arrangements so that the family does not have to worry about all these. By considering all these factors, the market has grown in this region. China is also a prominent manufacturer of these death care services, but it has moderate growth due to the license's approval from the government. This country has the most significant number of older people who are age 60 years. Due to increasing deaths due to viral infections in this region, the market has grown forward.

Latin America region also has mild growth in this sector due to increasing awareness about this type of service for the people who are not having children and family members with lots of money to take care of themselves.

KEY MARKET PARTICIPANTS

Some noteworthy companies profiled in the report's global death care services market are StoneMor, NorthStar Memorial Group, Carriage Services, Hillenbrand, Astral, Classic Memorials, and CJ. Boots Casket Company, Baalmann Mortuary, Campbell Funeral Homes, Charbonnet Family Services, Crater Vault Corporation, Doric Products, Evergreen Washelli, Giles Memory Gardens, Kepner Funeral Homes, McMahon, Lyon & Hartnett Funeral Home, Musgrove Mortuaries and Cemeteries.

RECENT MARKET HAPPENINGS

  • In 2019, Fu Shou Yuan International Group Ltd. introduced burial and funeral services due to the increasing number of deaths.

DETAILED SEGMENTATION OF THE GLOBAL DEATH CARE SERVICES MARKET INCLUDED IN THIS REPORT

This market research report on the global death care services market has been segmented and sub-segmented into the following categories and analyzed market size and forecast until 2029.

By Operations

  • Funeral Homes
  • Cemeteries

By Arrangement

  • At-need
  • Pre-need

By Products & Services

  • Caskets & Vaults
  • Facility Rentals
  • Embalming & Cosmetic Preparation
  • URS
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • The Middle East and Africa

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Frequently Asked Questions

How much is the global death care market going to be worth by 2029?

The Size of the global death care services market is estimated to be worth USD 73.55 billion by 2029.

At What CAGR, the global death services market is expected to grow from 2024 to 2029?

The global death care services market to grow at a CAGR of 4% from 2024 to 2029.

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