The death care services market comprise of sales of death care services and other related goods segmented by entities which prepare burial or interment services for funerals, sites or the structures reserved for interment of human or animals remains or for the cremating the dead. The death care services are provided by the organizations or the communities helping clients to handle cremation or burial activities of the body. Death care includes companies who provide death-related goods and services such as funerals, burials, cremations, coffins, lots in cemeteries, headstones and memorials. Various companies developed a model/blueprint to improve the marketing, products, and distribution to bring on board new innovations and solutions. The cremation is said to be an energy-intensive process which puts particulates and greenhouse gases, emitting CO2, however again new processes associated to water cremation called alkaline hydrolysis is not that successful. The industry is also trying to meet and consolidating all the requirement based on attempting for meeting out the personalized requirements of clients and thereby modifying business models to process out simply delivering vaults and paraphernalia related services.
According to study, “Death Care Services Global Market Report 2019” the key companies operating in the death care services global market are Service Corporation International (SCI), Fu Shou Yuan International Group and Nirvana Asia Ltd. The report also includes strategic developments R&D, M&A, agreements, and others.
Based on operations, death care services market is segmented into cemeteries and funeral homes. Based on arrangement, market is segmented into at-need arrangement and pre-need arrangement. At-need arrangement segment holds major share in market owing to increase in geriatric population. In addition, based on product & services, market is segmented into facility rentals, caskets & vaults, urns, embalming & cosmetic preparation and others. Caskets & vaults segment dominates the market due to easy availability of caskets & vaults in retail stores.
The death care services market is driven by increase in incidences of various chronic diseases, followed by rise in number of death across the world, increase in investments on death care services and rise in disposable income in urban areas. However, fluctuations in the availability of raw materials and lack of complete knowledge over-utilizing the service’s inappropriate manner may impact the manner. Moreover, growth in support from the government authorities to manage the whole event with optimum care especially in military and other sectors is a key opportunity for market.
Based on geography, the North-American region holds major share in death care services market owing to growth in adoption of modern ways of cremation activities in urban areas and increase in incidences of death due to severe diseases in the region. Whereas, the European region is anticipated to exhibit higher growth rate due to rise in demand for death care services in the military sector over the forecast period. Additionally, the Asian-Pacific region is also anticipated to exhibit higher growth rate as rise in awareness over the services and increase in population over the forecast period.
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Ankur Gupta, Head Marketing & Communications