Green Burials and Tailored Send-Offs Makes Headway in the Death Care Market in US
Arizton’s recent market research report on the death care market in US provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by operations (funeral homes and cemeteries), by arrangement (at-need and pre-need), by products and services (caskets & vaults, facility rentals, embalming & cosmetic preparation, urns, and others), and offers detailed competitive analysis.
The death care market in US is anticipated to generate revenues of around $68 billion by 2024, growing at a CAGR of over 4% during 2018-2024.
The increasing development in the existing model/blueprint by improving marketing, products, and distribution methods, or bringing on board entirely innovations will drive the evolution of the market. The leading vendors are investing in premium products and services to serve the boutique clientele in the death care market in US.
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The top 3 drivers and trends propelling the growth of the death care market in US are discussed below:
Cremations Increase in a Tradition Takeover
The steady shift towards cremations from traditional burials will augment the development of the death care market in US. For the first time in 2016, the rate of cremations surpassed traditional burials, according to the NFDA, crossing over 50% to 50.2% in the US. The presence of religious observances is one of the primary factors still restricting the shift to cremation in the US market. The introduction of new processes of water cremation called alkaline hydrolysis where the body is liquefied, and the bones are crushed into ashes is expected to gain traction in the death care market in US over the next few years. Rising costs of funeral services are driving the demand for cremation in the US market. Several funeral homes and cemeteries are opening to introducing crematories as their revenues from burials drop. Cremains allow for easier transportation and cremation provides flexibility and time to ponder over what has to be done with the cremains to consumers. The vendors are also expanding their products and services to cater to a larger section of the consumers in the death care market in US.
Cremation and Burial Statistics 2015-2018
A Green Signal for Green Burial
Green burials are the latest trend gaining immense traction in the death care market in US. Green burials are environment-friendly and include no caskets, no embalming chemicals that were toxic to the environment, and nothing metal, whether urns, caskets, or tombs. The rising need to reduce the individual’s carbon footprint in end-of-life rituals is propelling the adoption of green burials in the death care market in US. The adoption greener farewells are also chosen because these are considered friendlier to the pocket. The extent of the level of the greening of the burial process is only climbing with services ranging from something as simple as covering the deceased in a cotton shroud to burying in a conservation park such as Greenacres, Washington where the families have the option of planting flowers, plants, and shrubs on the grave. The environmental-friendly burials and products, recent years have witnessed a wave of new ideas which include green choices for those who decide on cremation such as a biodegradable urn which includes a seed, enabling a tree to grow from the ashes. Such initiatives will reduce the release of toxic chemicals such as mercury and carbon dioxide and boost revenues in the death care market in US.
Green and Standard Burial Statistics 2015 and 2017
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Tailored Send-Offs
The growing demand for tailored send-offs is driving the development of the death care market in US. The need for a positive funeral experience is leading to an outburst of unique and creative services that are reminiscent of a person’s passions, hobbies, and interests and memorialize their existence and ethos. Customers increasingly want the personality to show through, celebrating the life that was, and are thus seeking personalization in the death care market in US. Personalization is also helping offset some of the losses occurring due to the growing trend towards cremation. This shift in customization could have something to do with the rise in baby boomers’ plans to pre-arrange their funerals. Customization services include memorial services/products (for instance memorial diamonds from cremains/ hair of the deceased), caskets, keepsakes (such as fingerprint jewelry), tributes, music, liturgy, and forming an honor guard in the death care market in US.
The leading vendors in the death care market in US are Service Corporation International (SCI), Hillenbrand, StoneMor, Carriage Services, and NorthStar Memorial Group.
The complete overview of the latest market research report on death care market in US by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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