The 2023-2028 World Outlook for Funeral Homes and Funeral Services

The 2023-2028 World Outlook for Funeral Homes and Funeral Services

This study covers the world outlook for funeral homes and funeral services across more than 190 countries. For each year reported, estimates are given for the latent demand, or potential industry earnings (P.I.E.), for the country in question (in millions of U.S. dollars), the percent share the country is of the region, and of the globe. These comparative benchmarks allow the reader to quickly gauge a country vis-à-vis others. Using econometric models which project fundamental economic dynamics within each country and across countries, latent demand estimates are created. This report does not discuss the specific players in the market serving the latent demand, nor specific details at the product level. The study also does not consider short-term cyclicalities that might affect realized sales. The study, therefore, is strategic in nature, taking an aggregate and long-run view, irrespective of the players or products involved.

This study covers funeral homes and funeral services as defined by the North American Industrial Classification system or NAICS (pronounced "nakes").

The NAICS code for funeral homes and funeral services is 81221. It is for this definition that aggregate latent demand estimates are derived. Funeral homes and funeral services is specifically defined as follows:

81221 See industry description for 812210.

812210 This industry comprises establishments primarily engaged in preparing the dead for burial or interment and conducting funerals (i.e., providing facilities for wakes, arranging transportation for the dead, selling caskets and related merchandise). Funeral homes combined with crematories are included in this industry.

8122101 Establishments primarily engaged in providing services, such as preparing the dead for burial, providing facilities for wakes, arranging transportation for the dead, and conducting funerals. The sale of caskets and related merchandise is often an integral part of the service provided by establishments in this industry. Independent funeral directors and embalmers are included in this industry.

8122102 Establishments primarily engaged in providing funeral services (except funeral homes and crematories).