Global Death Care Services Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
18 Jun, 2021
The death care services market consists of sales of death care services and related goods by entities (organizations, sole traders and partnerships) that prepare the dead for burial or interment, conduct funerals, operate sites or structures reserved for the interment of human or animals remains, and/or cremate the dead.
Global Death Care Services Market Size And Drivers:
The global death care services market is expected to grow from $103.93 billion in 2020 to $109.79 billion in 2021 at a compound annual growth rate (CAGR) of 5.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $147.38 billion in 2025 at a CAGR of 8%. Digital revolution is the main driver of the market.
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Trends In The Global Death Care Services Market
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 which is similar to cremated ashes. The liquid by-product of alkaline hydrolysis is a non-toxic solution that is disposed through the sewage system. As of August 2019, 19 states in the United States of America have legalized practice of alkaline hydrolysis.
Global Death Care Services Market Segments:
The global death care services market is further segmented based on type, arrangement, mode and geography.
By Type: Funeral Homes And Funeral Services, Cemeteries And Crematories
By Arrangement: At-Need Arrangement, Pre-Need Arrangement
By Mode: Online, Offline
By Geography: The global death care services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global death care services market, accounting for 40% of the market in 2020.
Read More On The Report For The Global Death Care Services Market At:https://www.thebusinessresearchcompany.com/report/death-care-services-global-market-report-2020-30-covid-19-impact-and-recovery
Death Care Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides death care services market overviews, analyzes and forecasts market size and growth for the global death care services market, death care services market share, death care services market players, death care services market segments and geographies, death care services market’s leading competitors’ revenues, profiles and market shares. The death care services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.