The final nail: Coffin sales will fall as cremation continues to gain popularity

Although the number of annual deaths has increased as a result of an increasing population, demand for industry services has continued to decline over the five years to 2017. Conditions are not expected to improve over the next five years, and consumer preferences will likely continue to trend in favor of cremations rather than traditional burial services...purchase to read more.

Industry Statistics & Market Size
Revenue
$657m
Annual Growth 12-17
-3.6%
Forecast Growth 17-22
Profit
Employment
3,471
Businesses
108

Industry Threats & Opportunities

  • High burial expenses and a greater cultural acceptance of cremation have reduced demand for caskets
  • The industry’s decline has primarily been driven by Americans’ changing attitudes regarding death
  • Rising burial costs are anticipated to discourage consumers
  • Industry Report - Industry Investment Chapter

    Capital intensity in this industry is low. Large-scale producers increasingly employ automated processes for woodworking, metal shaping and embroidery. However, labor is required to oversee machinery and perform quality control tasks. Furthermore, while production is mostly concentrated to the top industry operators, some small, custom craftsmen operate using a much more labor-intensive manufacturing model. These manufacturers require typically highly skilled woodworkers with higher wages. Overall, for every dollar spent on labor, the average industry operator invests $0.07 in capital equipment...purchase to read more.

    Additional Insights for the Coffin & Casket Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Coffin & Casket Manufacturing Industry are

  • Ability to control total supply on market
  • Having a diverse range of clients
  • Concentration on core business
  • IBISWorld analysts also discuss how external factors such as Number of deaths and Number of cremations in the Coffin & Casket Manufacturing industry impact industry performance..

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    What's in this report

    What is the Coffin & Casket Manufacturing Industry?

    This industry primarily manufactures burial caskets, cases and vaults intended to contain dead bodies during and after burial or until cremation. Consumers often purchase these items from funeral homes, but in some cases, they may also purchase them directly from the manufacturers.

    Industry Products
  • Metal burial caskets and coffins
  • Wood burial caskets and coffins
  • Other burial caskets and coffins
  • Industry Activities
  • Manufacturing metal burial caskets and coffins
  • Manufacturing wood burial caskets and coffins
  • Manufacturing cloth burial caskets and coffins
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of deaths
  • Number of cremations
  • Number of adults aged 65 and older
  • Per capita disposable income

  • Current Performance
  • Limited competition
  • Ashes to ashes
  • Declining profit
  • Chart: Revenue Growth

  • Industry Outlook
  • Rising cremations
  • Ongoing consolidation
  • Potential threats
  • Table: Coffin & Casket Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Coffin & Casket Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Funeral Homes

  • Key Selling Industries
  • Furniture Wholesaling
  • Lumber Wholesaling
  • Metal Wholesaling

  • Products & Services
  • Metal burial caskets and coffins
  • Wood burial caskets and coffins
  • Other burial caskets and coffins
  • Other
  • Chart: Coffin & Casket Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Midsize funeral homes ($1.0-$5.0 million in sales)
  • Small funeral homes (<$1.0 million in sales)
  • Other
  • Large funeral homes (>$5.0 million in sales)
  • Cemeteries
  • Chart: Major Market Segmentation for the Coffin & Casket Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Coffin & Casket Manufacturing

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Coffin & Casket Manufacturing Industry

  • Industry Globalization
    Hillenbrand Inc., Matthews International Corp.,
  • Table: Hillenbrand Inc. - financial performance
  • Table: Matthews International Corp. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Coffin & Casket Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Coffin & Casket Manufacturing Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of cremations (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Burial Vault
  • Container, made of a base and a dome, meant to contain caskets and coffins that decompose quickly such as wood.
  • Cremation
  • The use of high temperature burning or vaporization to reduce dead bodies to basic chemical compounds, such as gases and ashes.
  • Mahogany
  • A hardwood that is prized for its beauty, duration and color.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Coffin & Casket Manufacturing Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Coffin & Casket Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Coffin & Casket Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Coffin & Casket Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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