Over the five years to 2017, the declining significance of religious traditions and the increased transience of the US population, which diminishes the importance of permanent burial plots, have fueled a trend of rising cremations. In addition, changing attitudes toward pets have made funeral and cremation services for cats and dogs a growing market. As a result, more funeral homes have entered the industry by expanding their service offerings to cater to growing demand. Over the five years to 2022, cremation is anticipated to continue gaining popularity. Cremation is anticipated to continue gaining traction among younger generations who have already seen older relatives opt for it, further eroding cultural traditions surrounding burial. In addition, the aging of the population as the baby boomer enters their senior years will lead to growth in the number of annual US deaths, bolstering demand across the funeral services sector more generally.
This industry provides cremation services for both humans and pets at both funeral homes and standalone crematoria. Industry operators also retail related funeral products, such as caskets and urns.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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