The death care industry includes companies who provide death-related goods and services such as funerals, burials, cremations, coffins, lots in cemeteries, headstones and memorials.
The death care services market expected to reach a value of nearly $184.46 billion by 2025, significantly growing at a CAGR of +12% during the forecast period. The growth in the death care services market is due to the digital revolution and leading vendors investing in premium products and services to serve the boutique consumers. However, the market for death care services is expected to face certain restraints from several factors such as the entrant of e-commerce giants such as Walmart and Amazon offering burial and memorial products at low prices.
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The death care services market consists of the sales of death care services and related goods by entities (organizations, sole traders and partnerships) that prepare the dead for burial or interment, conduct funerals, operate sites or structures reserved for the interment of human or animals remains, and/or cremate the dead.
Several companies are either developing an existing model/blueprint by improving marketing, products, and distribution methods or bringing on board entirely innovations in the US market. The rise in the number of GoFundMe and Kickstarter campaigns that are crowdfunding funeral costs is becoming a trend especially among cases where the death was sudden.The US death care market is driven by the digital revolution and innovated business models to draw consumers. The leading vendors are also investing in premium products and services to serve the boutique consumers in the US market.
The uncertainty of life and death marks as a unique characteristic on which hinges the demand in the US death care market. The predominance of traditional standards which witnesses the whole embalmed body in an open casket, combined with prayers among others is still a large part of the funeral services in the US. The industry is also witnessing the emergence of a lot of non-traditional services from unique services that enable pressing cremains into diamonds to green burials.
As per study key players of this market are WALMART, 1-800-FLOWERS.COM, AMAZON.COM, CARRIAGE SERVICES INC., HILLENBRAND, INC., MATTHEWS INTERNATIONAL, ROCK OF AGES CORP., SERVICE CORP. INTERNATIONAL & STONEMOR PARTNERS
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The death care services market expected to reach a value of nearly $184.46 billion by 2025, significantly growing at a CAGR of +12% during the forecast period.
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