Death Care comprises of the management of funerary arrangements like care of the dead & services offered to surviving the family members. This includes cremation or burials, funerals, memorials, cemeteries, coffins etc. Death care services are held by specific communities or organizations to assist the customers to handle the cremation or burial activities of the body, which is accelerating the growth rate of the market. The Corona-Virus pandemic has augmented demand for the death care services for instance refrigerated storages, crematory services and others.
Referring to study, “Death Care Services Global Market Report 2020-30: Covid 19 Impact and Recovery” some of the key companies that are currently working in the global death care services market include Nirvana Asia Ltd, Service Corporation International (SCI), Fu Shou Yuan International Group among others. Leading companies are progressively more using the alkaline hydrolysis process to dispose of corpses. Alkaline hydrolysis is the chemical method for disposal of human remains using sodium-hydroxide & heat.
By type, death care services market is segregated as cemeteries & crematorie, funeral homes & funeral services and others. Funeral homes provide various services that include memorial & burial products, facilities for memorial services, embalm or prep bodies for burial or cremation, and deal with the mandatory paperwork & activities for a variety of aspects of the grave & burial process, arrange for staff and vehicles for graveside & funeral services as per the customer’s requirements. By arrangement, market is segregated as pre-need arrangement and at-need arrangement. Pre-need arrangement segment holds major share in global market owing to personalization and financial benefits. Additionally, at-need arrangement segment is anticipated t witness higher growth rate due to increase in geriatric population during the forecast period. In addition, by mode, market is segregated as offline mode and online mode.
The death care services market is driven by increase in number of deaths, followed by growth in geriatric population, rise in numbers of cremations, increase in disposable income in urban areas, growth in adoption of modern ways of cremation activities in urban areas, personalization of death and introduction of new process of funerals & burials. However, decrease in number of working people in death care organizations and fluctuations in the availability of raw materials may impact the market. Moreover, increase in investment on death care services and rise in discoveries & consumers warming up to novel methods of body disposition including water cremation and body composting are key opportunities for market.
By geography, the Asia-pacific region holds major share in global death care services market owing to high prevalence of chronic diseases including respiratory, diabetes and cardiovascular in the region. The North-America and Europe regions are estimated to witness higher growth rate due to rise in demand for death care services in the military sector coupled with increase in number of deaths & introduction of novel offerings over the forecast period. It is predicted that future of the global death care services market will be bright as a result of substantial increase in mortality rate during the forecast period.
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Ankur Gupta, Head Marketing & Communications