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Funeral Homes in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Funeral Homes Market Research Report | NAICS 81221 | Oct 2016

Ashes to ashes: Rising demand for cremation services will subdue revenue growth

IBISWorld’s Funeral Homes market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$14bn
Annual Growth 11-16
0.6%
Annual Growth 16-21
Annual Growth
Profit
Profit
Employment
108,411
Businesses
15,781
Industry Threats & Opportunities
  • While demand for funeral services is steady, competition from e-commerce and cremation services pose a threat to the industry
  • Growth in the number of persons over 65 years of age has led to a slight uptick in the capita death rate
  • The trends that defined the industry over the past five years are anticipated to hold, preventing any significant revenue growth
  • ... purchase to read more

Industry Analysis & Industry Trends

Demand for Funeral Homes 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 toward lower-cost cremation services, reducing the industry revenue generated per client. In addition, the emergence of alternative sales channels for funereal products retailed by this industry, including e-commerce, has heightened competition. Over the next five years, the industry is anticipated to stagnate. However, a slight expected uptick in the US death rate will bode well for the industry... ... purchase to read more

Industry Report - Starting a New Business Chapter

The Funeral Homes industry has medium barriers to entry, primarily given government regulations, licensing requirements and initial capital costs required to start a business. Competition continues to remain high, with entrants to the industry increasing as revenue growth from existing operators has risen. Furthermore, the level of assistance is low, as there is no governmental assistance for the industry, further contributing to the medium barriers to entry.

While funeral homes have lower barriers to entry compared to cemetery operations, potential entrants will find that the vertical integration of the industry can itself be a barrier to entry. Larger companies typically have combination operations, meaning they have a cemetery adjoining a funeral home operation. Thi.. ... purchase to read more

Additional Insights for the Funeral Homes Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Funeral Homes Industry are

  • Having a good reputation
  • Effective cost controls
  • Must comply with government regulations
  • IBISWorld analysts also discuss how external factors such as Number of deaths and Number of adults aged 65 and older in the Funeral Homes industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Funeral Homes 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. 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).

    Industry Products
    CremationFuneral planning servicesBody preparation and internmentTransportationResale of merchandise
     
    Industry Activities
    Providing funeral director servicesProviding embalming services Operating funeral homes combined with crematories Providing mortician services Providing visitation or viewing servicesProviding funeral servicesProviding graveside committal servicesSelling funeral merchandise (e.g. caskets, flowers and obituary notices)Transporting the deceased


    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Number of deaths
  • Number of adults aged 65 and older
  • Per capita disposable income
  • Number of cremations
  • commerce sales
  • Current Performance
  • Demand drivers
  • New competition
  • Chart: Revenue Growth
  • Industry Outlook
  • Cremation becomes norm
  • Participation and profit
  • Table: Funeral Homes Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Funeral Homes Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Religious Organizations
  • Consumers
  • Key Selling Industries
  • Cemetery Services
  • Florists
  • Masonry
  • Newspaper Publishing
  • Religious Organizations
  • Wood Paneling Manufacturing
  • Products & Services
  • Funeral planning services
  • Resale of merchandise
  • Body preparation and internment
  • Other
  • Cremation
  • Transportation
  • Chart: Funeral Homes Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Individuals aged 80 and older
  • Individuals aged 65 to 79
  • Individuals aged 45 to 64
  • Individuals aged 25 to 44
  • Individuals aged under 25
  • Chart: Major Market Segmentation for the Funeral Homes Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Funeral Homes
  • Basis of Competition
  • Internal competition
  • External competition
  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Funeral Homes Industry
  • Industry Globalization
    Major Companies
    Service Corporation International
  • Table: Service Corporation International - financial performance
  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Funeral Homes Industry
  • Chart: Tools of the Trade: Growth Strategies for Success
  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth
  • Regulation & Policy
    Industry Assistance
    Key Statistics
  • Table: Industry Data for the Funeral Homes Industry
  • Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Deaths (2007-2021)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Table: Industry Financial Ratios
  • Jargon & Glossary
    At-Need
  • Arrangement of a funeral service for a deceased person who did not have a prepaid funeral plan in place.
  • Pre-Need
  • Purchase of a funeral plan prior to death.
  • Traditional Funeral Service
  • Includes both a religious service and a service at the cemetery or crematorium.

  • Why Buy this Report?
    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 Funeral Homes:
    • 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 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 Funeral Homes 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 Funeral Homes, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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