Competitive Market Growth, Size, Share and Forecast to 2027 for Global Death Care Services Market 2019 2027, By Component (Products (Casket, Coffins (Oak Coffins, Poplar Coffins, Softwood Coffins, Others), Urns (Ceramic, Wooden, Natural, Glass, Marble, Others), Burial Vaults, Urn Vaults, Memorial Jewellery, Others), Services (Funeral Services, Burial Services (Traditional Burial, Green Burial, Customized Burial, Others), Cremation Services, Transportation Services, Mortuary Services, Catering Services, Graveside Services, Embalming, Clothing & Dressing, Planning & Advisory Services, Others)); By Model (Pre-Need Basis, At-Need Basis); By Coverage (National, International); By Mode (Online, Offline);
The Global Death Care Services Market 2019 2027 was valued US$ 16.39 Bn in 2021 and will grow at a CAGR of 6.30% for the forecast period of 2017-2027, as per the market research report by Absolute Markets Insights titled ” Global Death Care Services Market 2019 2027
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The growing number of old age population which are prone to critical illnesses and have high morbidity rates is driving the demand in the global death care services market.
World’s aging population is growing at unprecedented rates. The statistics of United Nation’s World Population Prospects, 2019 report, states that in 2019, 1 in 11 people (6%) in the world are over the age of 65 years and are expected to grow to 1 in 6 people (16%) by 2050. The declining fertility of populations owing to the changing lifestyle is a major driver for this growing rate of geriatric population. Geriatric people have low physical and mental immunity against any illnesses which causes high morbidity rate. Numerous government organizations such as American Academy of Family Physicians, World Health Organization, European Union and others have stated that this rise in aging population is a major cause for growing number of deaths, worldwide. These inflated number of deaths owing to the rise in aging population has heightened the demand in death care services market across the globe.
Regulatory barriers for entry of new market players is restraining the growth of funeral services industry. Governments of multiple countries have limited the number of licensed companies providing death care services. Hence the unavailability of players providing funeral services has led to a surge in the prices of death care services thus, hampering the growth of market. This price rise has led to legal investigation probe into the subject, which has further disrupted the market growth. The growing popularity of pre-planned death care services along with the funeral insurances, which remain unaffected by the inflated prices once payment is done, are anticipated to overcome these challenges in global death care services market.
The term Global Death Care Services Market 2019 2027 is influenced by a number of variables, including forward/backward integration, economies of scale, the proportion of different distribution channels, elements influencing consumer behavior, such as brand loyalty, price, and accessibility of the product, capital investments, the regulatory environment, production rights and patents, marketing strategies, and other client preferences. The stakeholders in the industry will probably find this knowledge valuable, and it may even motivate them to take action.
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Global Death Care Services Market 2019 2027 Competitive Landscape:
The prominent companies in the Global Death Care Services Market 2019 2027 are:
Antim Yatra Funeral Services, ANXIAN YUAN CHINA HOLDINGS LIMITED, Bestattungen Karl Albert Denk GmbH & Co. KG, Burials Gommel, Carriage Services, Fu Shou Yuan International Group Limited, Funeral Lichtblick Bochum, Funeral parlor Stumpf, Funerals Wagner & Loew, Hillenbrand Inc. (Batesville), INVOCARE NEW ZEALAND LIMITED, Lucentt, mymoria GmbH, Naser Group Inc., NorthStar Memorial Group, NIRVANA ASIA LTD., Park Lawn Corporation, Propel Funeral Partners Limited, Rossi Family Funeral Home, Inc., Schepp Family Funeral Homes, Service Corporation International, Shangyu Luxes Casket Company, Southern Cremations & Funerals, StoneMor Inc., TEAR Co., Ltd., The Natural Funeral Company Limited, Urns.com. and Wilbert amongst others.
Impact of COVID-19:
This article makes observations about COVID-19 consumer behavior, demand changes, shopping trends, supply chain restructuring, market forces dynamics, and significant government involvement. The new study offers further information, analysis, projections, and estimates regarding the market effects of COVID-19.
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Key Benefits of Global Global Death Care Services Market 2019 2027 Report:
- Much work has been devoted to studying both the present and the future as part of the study of global Global Death Care Services Market 2019 2027 trends.
The Global Global Death Care Services Market 2019 2027 Growth Research Report offers comprehensive data on the Market Introduction, Market Summary, Global Market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and National levels.
- Studying global Global Death Care Services Market 2019 2027 trends might help you find business prospects.
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Global Death Care Services Market 2019 2027 Regional Insights
North America region registered the highest share in global death care services market in 2018. However, Asia Pacific region is expected to witness highest growth rate over forecast period owing to high demand from growing number of deaths, which is attracting market players to launch novel products for catering this high demand. China and India are two of the world’s most populated countries in the world, which have high number of deaths per year owing to high prevalence of non-communicable diseases, accidental injuries and other symptoms. There were about 10 million deaths in China in the year of 2017. This high number of deaths causes shortage of burial space which has led to an upsurge in the prices of burial grounds for dead thus, increasing the profit margins of market players. Companies are also launching innovative offerings for tapping the high potential of funeral services industry in Asia Pacific region. For instance, in 2017 the Babaoshan funeral home in Hebei province of China, introduced 3D printing technology for recreating the dead for viewing ceremonies. Also, the Fu Shou Yuan International announced in March 2019 its plans to launch new value added funeral services including virtual graves. The increasing number of death rate along with launch of new offerings is anticipated to contribute towards high growth rate of Asia Pacific region in global death care services market over the forecast years.
The report provides a comprehensive examination of a number of factors, including the distribution of the Global Death Care Services Market 2019 2027 in significant geographic areas. North America, Europe, Asia-Pacific, and Latin America are the key geographical emphasis areas of the study.
Why the Global Death Care Services Market 2019 2027 Report is Beneficial?
- The Global Death Care Services Market 2019 2027 study was constructed using a comprehensive and modern research approach.
- The study contains a large amount of data on the most current technological and product advancements in the Global Death Care Services Market 2019 2027 and offers a complete analysis of the market competition for the Global Death Care Services Market 2019 2027.
- The numerous evaluations of how these upgrades may affect the ongoing growth of Global Death Care Services Market 2019 2027
In the research report for the Global Death Care Services Market 2019 2027 study, extensive historical data and analysis are presented.
- The graphical data representations used in the Global Death Care Services Market 2019 2027 report, such as bar graphs, statistics, pie charts, etc., make the report’s insights obvious and simple to comprehend.
Global Death Care Services Market 2019 2027 Segmentation:
Based on the makeup of the product and the intended use for which it is to be used, various divisions have been made within the Global Death Care Services Market 2019 2027 market. The growth rate and market share of each market segment are assessed. The experts have also investigated prospective areas where the producers could make money in the ensuing years. Thanks to the accurate volume and value estimates provided by the geographical analysis, market participants can better understand the entire industry.
Global Death Care Services Market:
- Oak Coffins
- Poplar Coffins
- Softwood Coffins
- Burial Vaults
- Urn Vaults
- Memorial Jewellery
- Funeral Services
- Burial Services
- Traditional Burial
- Green Burial
- Customized Burial
- Cremation Services
- Transportation Services
- Mortuary Services
- Catering Services
- Graveside Services
- Embalming, Clothing & Dressing
- Planning & Advisory Services
- Pre-Need Basis
- At-need Basis
Global Global Death Care Services Market 2019 2027 by Region Global Death Care Services Market 2019 2027
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
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