Funeral Homes in the US
The Funeral Homes industry includes businesses that plan memorial services and prepare human corpses for interment or cremation. Demand for industry services is relatively steady because most Americans pass through a funeral home upon their death, which is inevitable. However, changing funeral preferences in recent years have led more families away from burial and toward lower-cost cremation services, reducing the industry revenue generated per client. Additionally, competition for this industry's funereal products has been heightened by the emergence of alternative sales channels, including e-commerce. Over the five years to 2023, the industry's growth is anticipated to continue slowing. The growing popularity of cremation will remain the primary obstacle to industry growth. However, a slight expected uptick in the US death rate will bode well for the industry.
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. The industry includes funeral homes combined with crematories; however, establishments that primarily conduct cremation are excluded from this industry and accounted for in the Cemetery Services industry (see 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.
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