Dublin, Aug. 04, 2023 (GLOBE NEWSWIRE) -- The "Global Funeral Services Market (2023-2028) by Service, Species, Nature, Distribution Channel, and Geography, Competitive Analysis, Impact of Economic Slowdown & Impending Recession with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
According to this report, the global funeral services market is estimated to be USD 13.98 Bn in 2023 and is projected to reach USD 18.91 Bn by 2028, with a steady CAGR of 6.23%.
Market Dynamics:
The Funeral Services Market is influenced by various factors that drive, restrain, and offer opportunities and challenges for its growth. The key market dynamics are as follows:
Drivers:
- Rising Mortality Rate will Boost the Demand for Funeral Homes and Funeral Services: The increasing mortality rate, coupled with the growing aging population, is expected to drive the demand for funeral services and homes.
- Rising Terminal Diseases: The prevalence of terminal diseases is on the rise, leading to a higher number of funerals and an increased demand for funeral services.
Restraints:
- Limited Reach of Burial Insurance Policy: The limited awareness and reach of burial insurance policies may restrain market growth, as it hinders the adoption of funeral services.
Opportunities:
- Growing Awareness of the Coverages and Benefits of Burial Insurance: The increasing awareness of burial insurance coverages and benefits presents opportunities for market players to expand their customer base.
Challenges:
- Unmet Needs/Opportunity Analysis: Identifying and addressing the unmet needs of consumers in the funeral services market can be a challenge for industry participants.
Market Segmentation:
The Global Funeral Services Market is segmented based on Service, Species, Nature, Distribution Channel, and Geography.
- By Service, the market is classified into:
- Burial
- Cremation
- Memorial
- Others
- By Species, the market is classified into:
- Human
- Pet
- By Nature, the market is classified into:
- Immediate-Need
- Pre-Planned
- By Distribution Channel, the market is classified into:
- Offline
- Online
- By Geography, the market is classified into:
- Americas
- Europe
- Middle East & Africa
- Asia-Pacific
Companies Mentioned:
The report features profiles of key players in the funeral services market, including:
- Aetna, Inc.
- Allianz Life
- Amar International Repatriations
- Carriage Group Services
- Co-Operative Group Ltd.
- Dignity PLC
- Fidelity Life Association
- Invocare Australia Pty Ltd.
- Naser Group, Inc.
- Oakmont Memorial Park & Mortuary
- Foundation Partners Group, LLC.
- Sollon Funeral And Cremation Services, Ltd.
- Memorial Hospital-West Volusia
- Norwich Cemetery Association
- Precoa
- Hart Funeral Homes
- Nirvana Asia Ltd.
- Ritual Funeral Enterprise
- Service Corp. International
- Stonemor
Why buy this report?
The "Global Funeral Services Market (2023-2028)" report offers a comprehensive evaluation of the market with in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The report is compiled through extensive primary and secondary research, including interviews, surveys, and observations of renowned industry personnel. It includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. Additionally, the report addresses the impact of COVID-19 and the economic slowdown on the market, along with regulatory scenarios across various geographies. The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Report Highlights:
- Comprehensive analysis of the market, including key market dynamics and trends.
- In-depth market segmentation analysis.
- Historical, current, and projected market size based on value and volume.
- Market shares and strategies of key players.
- Recommendations to companies for strengthening their foothold in the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 202 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $13.98 Billion |
| Forecasted Market Value (USD) by 2028 | $18.91 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/psorh5
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