Reaching for the heavens: Revenue expands as an ageing population boosts industry demand

Operators in the Funeral Activities industry offer cemetery, crematorium, embalming and undertaker services. The industry includes the maintenance of mausoleums and the renting and maintenance of graves. Due to the essential nature of industry services, demand is considered to be price inelastic. A change in the price of industry services leads to a less than proportionate drop in industry demand. The industry is mainly affected by the number of deaths in the United Kingdom. In 2015-16, a significant increase in real household disposable income led to increased demand for prepaid funeral services, which supported revenue growth. In the current year, the number of deaths in the United Kingdom is expected to increase, which can be attributed to an ageing more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

Industry Threats & Opportunities

  • Industry revenue has expanded, partly thanks to an increase in the number of deaths
  • Eco-friendly cremations are becoming more popular due to growing concern for the environment
  • The popularity of prepaid funeral agreements is expected to increase over the next five years
  • Industry Report - Industry Locations Chapter

    The South EastThe South East region is estimated to have the highest number of industry establishments, accounting for 14.3% of industry establishments. The South East is an ideal location for operators that want to be close to wealthy customers. The region has a high level of average household disposable income when compared with other regions. Accordingly, a large proportion of people in the South East are able to afford expensive funerals. Therefore, industry operators have turned towards the South East as a key market for their services.The North WestThe North West accounts for approximately 12.1% of industry establishments in the current year. The high population density of this region has drawn in many industry operators. Alt...purchase to read more.

    Additional Insights for the Funeral Activities Industry

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

  • Product is sold at high profile outlets
  • Access to the necessary amount of land/type of property
  • Having a good reputation
  • IBISWorld analysts also discuss how external factors such as Number of deaths and Median age of the population in the Funeral Activities industry impact industry performance..

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    What's in this report

    What is the Funeral Activities Industry?

    This industry consists of businesses that manage the burial or cremation of humans, including the sale and maintenance of graves and mausoleums and the renting of equipped space in funeral parlours. This industry excludes religious funeral service activities and cemetery gardening activities.

    Industry Products
  • Burials
  • Cremations
  • Prepaid funeral services
  • Natural alternatives
  • Industry Activities
  • Cremations
  • Providing burial services
  • Funeral directing
  • Prepaid funeral planning
  • Natural burials
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Number of deaths
  • Median age of the population
  • Real household disposable income
  • Consumer credit

  • Current Performance
  • Reaching capacity
  • Opting for cremations
  • Death rates
  • Regulatory pressure
  • Chart: Revenue Growth

  • Industry Outlook
  • Ageing population
  • Innovative solutions
  • Structure and alternatives
  • Table: Funeral Activities Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Funeral Activities Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Consumers

  • Key Selling Industries
  • Catering Services
  • Florists
  • Stone Cutting, Shaping & Finishing
  • Wooden Container Manufacturing

  • Products & Services
  • Burials
  • Cremations
  • Prepaid funeral services
  • Natural alternatives
  • Chart: Funeral Activities Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • People aged between 65 and 84
  • People aged 85 and over
  • People aged between 45 and 64
  • People aged between 25 and 44
  • People aged 24 and under
  • Chart: Major Market Segmentation for the Funeral Activities Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesDepreciationRent and utilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Funeral Activities

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Funeral Activities Industry

  • Industry Globalization
    Dignity plc, Funeral Services Ltd,
  • Table: Dignity plc - financial performance
  • Table: Funeral Services Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Funeral Activities Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Funeral Activities Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • A facility attached to a funeral home or chapel that is used to cremate a deceased person.
  • Disbursement Fees
  • Costs such as burial fees, cremation fees, ministers' fees and doctors' fees that are passed on to clients.
  • Mercury Abatement
  • Government regulation intended to reduce atmospheric pollution caused by cremating.
  • Prepaid Funeral
  • Arrangement and payment for funeral services prior to death.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Funeral Activities market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    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 Activities:
    • 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 Activities 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 Activities, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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