The Business Research Company’s Death Care Services Global Market Report 2020-30: Covid 19 Impact And Recovery
LONDON, GREATER LONDON, UK, July 3, 2020 /EINPresswire.com/ — Crematories are offering green funeral and burial services to environmentally conscious customers. A green funeral offers environmentally-friendly options such as funeral in a natural setting, use of only recycled paper products, locally-grown organic flowers and food, biodegradable clothing, shroud or casket, and use of formaldehyde-free products. In natural burial, the body is buried in a natural setting without embalming, and instead of traditional standing headstones, plants, trees or flat rocks are used as grave markers. These crematories also use alkaline hydrolysis process, which uses 90% less energy than flame cremation. Charles F. Snyder Funeral Home & Crematory is one such green funeral service provider in Pennsylvania.
The global death care services market is expected to grow from $102.3 billion in 2019 to $102.4 billion in 2020 at a compound annual growth rate (CAGR) of 0.1%. The low growth is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $124.8 billion in 2023.
The death care services market consists of the 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.
Asia Pacific was the largest region in the global death care services market, accounting for 40% of the total share in 2019. North America was the second largest region accounting for 27% of the global death care services market. Africa was the smallest region in the global death care services market.
The global death care services market is segmented by type into funeral homes and funeral services, and cemeteries and crematoria. By arrangement, the market is segmented into at-need arrangement and pre-need arrangement. By mode, the market is segmented into online and offline.
The major players in the global death care services industry are Service Corporation International (SCI), Nirvana Asia Ltd, and Fu Shou Yuan International Group.
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Source: EIN Presswire