Funeral Homes and Funeral Services Market by Service and Geography - Forecast and Analysis 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR45104
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 Funeral Homes and Funeral Services Market - 2021-2025

The funeral homes and funeral services market size is expected to reach a value of USD 27.82 billion, at a CAGR of 5.85%, during 2021-2025. This research study helps in a deep understanding of the underlying forces driving the market growth and current and potential target customers across segmentations. According to our comprehensive survey, factors such as new products and service launches are projected to significantly support market growth during the forecast period. From this market research report you can gather necessary insights on the latest trends and challenges that will have a far-reaching effect on the market growth.

Funeral Homes and Funeral Services Market Size

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Funeral Homes and Funeral Services Market Segments

Every aspect of business improvement planning depends on the understanding of current and potential target customers across segmentations. Our funeral homes and funeral services market analysis report extensively covers service (at-need and pre-need) and geography (Europe, North America, APAC, South America, and MEA), wherein you will obtain insights on qualitative and quantitative data that can help in optimizing financial results and seize business opportunities

Furthermore, given the current pandemic situation and its significant effect on industries, it is essential to understand the vulnerable market segments and recovery scope. Our market research experts have evaluated the impact of COVID-19 across market segments for our clients to understand the long-term business implications and foresee opportunities to strengthen market foothold. This market research report entails a thorough qualitative and quantitative analysis on the post-pandemic funeral homes and funeral services market predictions on-demand changes for 2021-2025.

Funeral Homes and Funeral Services Market Vendors and Competitive Analysis

The funeral homes and funeral services market is fragmented and the vendors are deploying organic and inorganic growth strategies to gain a competitive advantage. Our analysts have outlined other well-thought-out business planning approaches of key players from our in this market research report.

The funeral homes and funeral services market share report highlights the repercussions of the effects of the pandemic across regions and segments, and the entire value chain. To make the most of the emerging opportunities and recover from adverse COVID-19 shock, the market vendors should focus more on leveraging change in consumer behavior and growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The funeral homes and funeral services market forecast report comprises detailed insights on complete key vendor profiles. The profiles include particulars on the production, sustainability, prospects of the leading companies, and other crucial vendor landscape analysis.

Funeral Homes and Funeral Services Market Vendors

Funeral Homes and Funeral Services Market - Region Opportunities 2021-2025

29% of the funeral homes and funeral services market growth will originate from APAC during the forecast period. The market research report includes exclusive information on potential business locations and understand the demographics of current and prospective customers.

Funeral Homes and Funeral Services Market Share by Geography

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APAC has been exhibiting a significant growth rate for funeral homes and funeral services market vendors. The funeral homes and funeral services market share growth in APAC will be faster than the growth of the market in regions such as North America and Europe. Our report will help you garner competitive intelligence and regional opportunities in store for vendors.

Funeral Homes and Funeral Services Market Insights by Service

Funeral Homes and Funeral Services Market Share by Service

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The funeral homes and funeral services market share growth by the at-need segment will be significant during the forecast period. This segment is driven by the rising number of unexpected deaths, mostly due to accidents. This report provides an accurate prediction of the contribution of all the segments to the growth of the funeral homes and funeral services market size.

From the funeral homes and funeral services market segmentation insights, players can identify the demand pattern of target customers and make effective business plans to capture untapped segments. In addition, the analytical data on the segmentations will enable effective product and service positioning among the right end-users, which will facilitate significant exposure and growth for the vendors. Given the current pandemic impact on various industries across the globe, our report has extensively incorporated updated actionable market insights on post COVID-19 impact on each segment.

Funeral Homes and Funeral Services Market Drivers & Trends

Even if the success rate of a business is higher, every factor, including challenges, influencing any market growth needs to be considered to mitigate potential risks at an earlier development stage. One of the key factors impeding the funeral homes and funeral services market growth is the increasing costs of raw materials. After thorough analysis of this market we have curated exhaustive insights on the key industry trends, drivers, and challenges in this report, which will help companies evaluate and build growth strategies.

New product and service development by both global and local players contribute to the growth of the global funeral homes and funeral services market. New products and services can accelerate the growth of vendors and increase their market shares. In January 2019, TribuCast, a division of LIVECLOUDTV LLC, launched its remote funeral attendance solution. TribuCast provides a safe, secure, and dignified way for people to attend a funeral or memorial service remotely. In October 2018, Simplicity Cremations, a subsidiary of Dignity, launched a new, unique, low-cost funeral service. The new service would cost around $2,425, which is inclusive of the crematorium and doctor's fees.

This funeral homes and funeral services market analysis report provides detailed information on key trends, drivers, and challenges that is the essence of business planning and strengthening marketing strategies across regions and segmentations.

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Funeral Homes and Funeral Services Market Report Outlook

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive funeral homes and funeral services market growth during the next five years
  • Precise estimation of the funeral homes and funeral services market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the funeral homes and funeral services market across Europe, North America, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of funeral homes and funeral services market vendors

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Funeral Homes And Funeral Services Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 5.85%

Market growth 2021-2025

$ 27.82 billion

Market structure

Fragmented

YoY growth (%)

5.23

Regional analysis

Europe, North America, APAC, South America, and MEA

Performing market contribution

APAC at 29%

Key consumer countries

US, UK, France, Canada, and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Carriage Services Inc., Co-operative Group Ltd., Dignity Plc, Funeral Partners Ltd., InvoCare Australia Pty Ltd., Matthews International Corp., Nirvana Asia Ltd., Park Lawn Corp., Service Corp. International, and Wimberly Funeral Home

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Service

    • Market segments
    • Comparison by Service
    • At-need - Market size and forecast 2020-2025
    • Pre-need - Market size and forecast 2020-2025
    • Market opportunity by Service

    Customer landscape

    • Customer landscape

    Geographic Landscape

    • Geographic segmentation
    • Geographic comparison
    • Europe - Market size and forecast 2020-2025
    • North America - Market size and forecast 2020-2025
    • APAC - Market size and forecast 2020-2025
    • South America - Market size and forecast 2020-2025
    • MEA - Market size and forecast 2020-2025
    • Key leading countries
    • Market opportunity by geography
    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Vendor landscape
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Carriage Services Inc.
    • Co-operative Group Ltd.
    • Dignity Plc
    • Funeral Partners Ltd.
    • InvoCare Australia Pty Ltd.
    • Matthews International Corp.
    • Nirvana Asia Ltd.
    • Park Lawn Corp.
    • Service Corp. International
    • Wimberly Funeral Home

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
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    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
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    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
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    The funeral homes and funeral services market growth will increase by $25.52 billion during 2019-2024.
    The funeral homes and funeral services market is expected to grow at a CAGR of 5.74% during 2019-2024.
    Technavio has segmented the funeral homes and funeral services market by service (At-need and Pre-need) and geographic (Europe, North America, APAC, South America, and MEA).
    Carriage Services Inc., Co-operative Group Ltd., Dignity Plc, Funeral Partners Ltd., InvoCare Australia Pty Ltd., Matthews International Corp., Nirvana Asia Ltd., Park Lawn Corp., Service Corp. International, Wimberly Funeral Home are a few of the key vendors in the funeral homes and funeral services market.
    APAC will register the highest growth rate of 28.64% among the other regions. Therefore, the funeral homes and funeral services market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the funeral homes and funeral services market growth are:
    • New products and service launches
    The funeral homes and funeral services market vendors should focus on grabbing business opportunities from the at-need segment as it accounted for the largest market share in the base year.
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