Funeral Products and Services Market, By Type (Traditional Services Type, Memorial Services Type, and Immediate Service Type), By Application (At-Need and Pre-Need), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI287419 | Publish Date: February 2024 | No. of Pages: 168

Global Funeral Products And Services Overview

The demand for funeral goods and services is continuing to rise worldwide due to an ageing population and rising urbanization. Increased mortality rates have further fueled demand for death care services and goods on the international market. Additional factors driving demand for death care services include rising rates of infectious illnesses, malnutrition, and under nutrition.

Funeral Products and Services Market was valued at US$ 54.5 Billion in 2024 and is projected to grow at a CAGR of 6.40% to reach US$ 101 Billion by 2034.

Global Funeral Products And Services Drivers & Restraints

The rise in mortality rates has also sped up demand on the international market. Additionally, the rising death toll is primarily attributed to a variety of variables, including rising disposable income and rising disease prevalence, both of which are anticipated to support the expansion of the global market. Additionally, vendors are offering more monuments and memorials for holding funeral services. Due to these considerations, the demand for funeral-related goods and services is predicted to stay strong on the international market. The increased need for embalming procedures due to musculoskeletal, chemical, and biological risks associated with conducting funerals. Throughout the projection period, the market for funeral goods and services will continue to expand significantly.                         

Global Funeral Products And Services Segmentations & Regional Insights

The Global Funeral Products and Services Market is segmented based on type, application and region.

On the basis of type, the Global Funeral Products and Services Market is segmented into Traditional Services Type, Memorial Services Type, and Immediate Service Type. On the basis of application, the Global Funeral Products and Services Market is segmented into At-Need and Pre-Need. 

Regional Insights:

On basis of region the Global Funeral Products and Services Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Growth in North America for funeral products and services industry is being challenged by the increasing popularity of cremation. In addition, death rates in the U.S are also predicted to rise, propel growth in the funeral product and services industry.

Report Scope:

Attribute

Details

Base year for estimation

2023

Forecast period

2024– 2034

Market representation

Revenue in USD Million & CAGR from 2023 to 2034

Market Segmentation

By Type – Traditional Services Type, Memorial Services Type, and Immediate Service Type.

By Application – At-Need and Pre-Need.     

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Funeral Products and Services report based on test, application, and region.

Global Funeral Products and Services Market, By Type:

  • Traditional Services Type
  • Memorial Services Type
  • Immediate Service Type

Global Funeral Products and Services Market, By Application:

  • At-Need
  • Pre-Need

Global Funeral Products and Services Market, By Region:

  • North America
    • Middle East & Africa
      • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Asia Pacific
      • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
    • Europe
      • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
    • U.S.
    • Canada

Global Funeral Products And Services Competitive Landscape & Key Players

The key players operating the Global Funeral Products and Services Market  Includes Service Corporation International, Matthews International Corporation, Dignity Plc, StoneMor Partners, InvoCare Ltd., Carriage Services, Inc., Fu Shou Yuan International Group Ltd., San Holdings, Inc., Nirvana Asia Ltd. and Funespana SA. Advancements in the product as well as in manufacturing process, product launches, and strategic partnerships are some trends witnessed in the global funeral products and services market. For instance, in March 2017, Service Corporation International owned and activated 475 cemeteries and 1,500 funeral homes (of which 283 are combination locations) in 45 states, eight Canadian provinces, the District of Columbia, and Puerto Rico.  Through its businesses, SCI offers assurance of value, quality, caring service, and exceptional customer satisfaction.

Global Funeral Products And Services Company Profile

FAQs

The Global Funeral Products and Services Market is segmented into category, form, product type, nature, end-use industry, and region.

The rise in the death rate is fueling demand for memorials, burial or cremation, and funerals, among other services.

By region, North America to grow at the highest CAGR during the forecast period.

The Key players operating in the Global Funeral Products and Services Market include Service Corporation International, Matthews International Corporation, Dignity Plc, StoneMor Partners, InvoCare Ltd., Carriage Services, Inc., Fu Shou Yuan International Group Ltd., San Holdings, Inc., Nirvana Asia Ltd. and Funespana SA.