Dublin, July 09, 2024 (GLOBE NEWSWIRE) -- The "Pet Funeral & Cremation Services in the US - Industry Market Research Report" report has been added to ResearchAndMarkets.com's offering.
Industry revenue increased at a CAGR of 12.5% to $1.3 billion over the past five years, including a 1.3% increase in 2024 alone. The jump in 2024 can be mainly attributed to the continued growth in the number of household pets throughout the past five years.
Many factors have fueled consumers' choice of burial and cremation services. The increasing cost of conventional burial services, especially in population centers with diminished cemetery space, has prompted consumers to consider lower-cost cremation. However, traditional burials still remain the most popular service offered. Additionally, households increasingly view their pets as an integral part of the family. This, combined with a rising pet ownership rate, has boosted demand for pet burial and cremation services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Instant access to hundreds of data points and trends:
- Market estimates from 2014-2029
- Competitive analysis, industry segmentation, financial benchmarks
- Incorporates SWOT, Porter's Five Forces and risk management frameworks
Market share concentration for the Pet Funeral & Cremation Services industry in the US is low, which means the top four companies generate less than 40% of industry revenue.
The average concentration in the sector in the United States is 21%.
Market Highlights:
- Revenue still climbed at the height of the pandemic
- Pet funeral and cremation services focus primarily on cats and dogs
- The price of funerals and cremations is a major form of competition
For more information about this report visit https://www.researchandmarkets.com/r/n7274y
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