US Death Care Market - Focused Insights 2023-2028

MARKET INSIGHTS

The U.S. death care market was valued at USD 22.19 billion in 2022 and is projected to reach USD 28.29 billion by 2028, growing at a CAGR of 4.13% during the forecast period. This industry encompasses organizations and companies providing services such as cremation, funeral arrangements, burial, and memorial services. The market is primarily dominated by major players like SCI, Carriage Services, StoneMor Partners L.P., NorthStar Memorial Group, Forest Lawn Memorial-Parks & Mortuaries, and Anderson-McQueen Funeral Home. Additionally, numerous family-owned and independent businesses contribute significantly to the market landscape.

The market's growth is driven by innovative business models and digital advancements, such as live streaming services, which are reshaping consumer experiences. Leading vendors offer a range of funeral services, including preneed arrangement packages that allow consumers to plan services in advance.

The market report provides detailed insights into the U.S. death care market, including market size, forecasts, and segmentations. It offers a comprehensive view of both the demand and supply sides of the market. Additionally, the report profiles and evaluates key players and other prominent participants in the industry, offering a current and in-depth analysis of market trends and dynamics.

KEY HIGHLIGHTS:

• The U.S. death care market has risen since the COVID-19 pandemic due to growing infectious diseases. In the South and West regions, there are many states where natural disaster causes a greater number of deaths, which causes a rise in demand for death care services.
• In the US death care market, pricing, location, and professionalism are the three main criteria for selecting death care service consumers.
• In the late ’70s, the death care market of the U.S. experienced high demand for at-need arrangements. Currently, consumers prefer preneed arrangements as it reduces the stress of funeral arrangements and do not financially burden close family members.
• The market is witnessing significant growth due to a few factors, such as the number of funeral homes and cemeteries, rising demand for online funerals, increasing demand for designed caskets & urns, and rising demand for green burial.
• SCI, Carriage Services, StoneMor Partners L.P., NorthStar Memorial Group, Forest Lawn Memorial-Parks & Mortuaries, and Anderson-McQueen Funeral Home are the leading players and have strong U.S. death care market penetration. Vendors such as New Belgium Brewing Company, The Legacy Funeral Services of Texas, LLC, Montefiore Cemetery, The Spring Grove Family, and Mount Auburn Cemetery are the other prominent players with a noteworthy presence in the market.
• Over the last few years, many large companies have followed the market's acquisition strategy. For instance, SCI and Carriage Services have acquired many funeral homes and cemeteries over the last few years.
• Many companies offer personalized services and products, such as caskets and urns, trending in the U.S. death care market.
• The demand for Preneed arrangements is rising, which reduces the stress and financial burden caused due to sudden death, thus helping the companies in the market grow.