The Death Care Services Global Market Report 2023 by The Business Research Company, provides death care services market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Death Care Services Global Market Report 2023, the global death care services market size will grow from $113.42 billion in 2022 to $122.98 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of death care services market is expected to grow to $165.3 billion in 2027 at a CAGR of 7.7%.
Decreasing life expectancy is expected to propel the growth of the death care services market. The number of years a person can expect to live is referred to as life expectancy. The decreasing life expectancy leads to more people dying, and the higher deaths thereby drive the death care services market.
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The death care services market is segmented:
1) By Type: Funeral Homes And Funeral Services, Cemeteries And Crematories
2) By Arrangement: At-Need Arrangement, Pre-Need Arrangement
3) By Mode: Online, Offline
Major Players:
- Service Corporation International
- Dignity plc
- Carriage ServicesInc.
- StoneMor Partners L.P
- Fu Shou Yuan International Group
Death care service companies are increasingly using the alkaline hydrolysis method for disposing of corpses. Alkaline hydrolysis is a chemical process for the disposal of human remains using sodium hydroxide and heat. The method uses a solution of 95% water and 5% potassium hydroxide or sodium oxide to reduce a body to components of liquid and bone. Bone fragments are retained and dried into a substance that is similar to cremated ashes. The liquid by-product of alkaline hydrolysis is a non-toxic solution that is disposed of through the sewage system. For instance, as of 2020, Washington, a state in the United States of America, legalized the practice of alkaline hydrolysis as acceptable means of disposition for human bodies.
The death care services market report table of contents includes:
1. Executive Summary
2. Death Care Services Market Characteristics
3. Death Care Services Market Trends And Strategies
4. Death Care Services Market – Macro Economic Scenario
5. Death Care Services Market Size And Growth
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28. Key Mergers And Acquisitions In The Death Care Services Market
29. Death Care Services Market Future Outlook and Potential Analysis
30. Appendix
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