Dublin, Dec. 04, 2023 (GLOBE NEWSWIRE) -- The "Death Care Services - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Death Care Services Market to Reach $189.8 Billion by 2030
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. Growth in the Cemeteries & Crematories segment is estimated at 6.6% CAGR for the next 8-year period.
The report highlights the importance of caring for the deceased as a sacred task for humans, emphasizing the cultural significance that provides the cornerstone for the growth of the death care services market. The COVID-19 pandemic is noted as a significant factor that has increased the demand for funeral services. The report discusses how the steeped rituals and farewells for the deceased, whether due to COVID-19 or other causes, have driven the demand for funeral services.
In terms of competition, the global key competitors' percentage market share in the death care services market for 2023 is provided, along with an assessment of competitive market presence categorized as strong, active, niche, or trivial for players worldwide in 2023.
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. 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.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
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 |
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
FOCUS ON SELECT PLAYERS(Total 220 Featured)
- Doric Products, Inc.
- Hillenbrand, Inc.
- 1-800-Flowers.com, Inc.
- Fu Shou Yuan International Group Limited
- Matthews International Corporation
- Co-operative Group Ltd.
- NorthStar Memorial Group
- Amedisys, Inc.
- Mack Industries
- FUNECAP GROUPE
For more information about this report visit https://www.researchandmarkets.com/r/5tptld
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