Funeral Homes in Massachusetts
The Funeral Homes industry in Massachusetts has grown modestly over the past five years. During the period, the senior population in the state has outpaced general state population growth and indicating an aging of the Massachusetts population. This trend has bolstered the industry since the elderly population sometimes pre-purchases funeral arrangements and because they are statistically more likely to die. Moreover, relatively strong growth in per capita disposable income in the state has enabled families to purchase more merchandise and added services for their departed loved ones, increasing sales at industry establishments. Massachusetts industry growth is anticipated to accelerate over the next five years. Continued growth in the state's elderly population will drive underlying demand for funeral services. Meanwhile, relatively low rates of cremation in the state will result in higher revenue per customer, as will projected growth in the state's per capita disposable income over the period.
This industry includes companies that conduct funerals and prepare the deceased for burial or interment. Industry establishments organize wakes, transport the dead and sell caskets and related merchandise. This industry includes funeral homes combined with crematories; however, establishments that primarily conduct cremation are excluded from this industry and are included in the Cemetery Services industry (IBISWorld report 81222).
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.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook