Global Cemetery Service Market Overview:
The Cemetery Services sector is offering burials and cremations based services. Cremations generally cost significantly lower than the burial services. The growing demand for cremations has improved over the last few years because of cost attentions, environmental reasons, religious thoughts and changing consumer preferences. As cremations contribute a low amount of revenue and profit for cemeteries, along with the growing demand for cremations has harmfully affected the industry. There is a rise in the number of cremations in FY 2018 and FY 2019, prevention a strong threat to the industry. This industry considers formations that operate sites and structures that reserved for interment activities. This industry also considers players that offer cremation based services. Some of the key players profiled in the study are Service Corporation International (United States), Chemed Corp. (United States), StoneMor Partners (United States), Wilbert Funeral Services (United States), Fu Shou Yuan International Group (China), Lung Yen Life Service Corp (China), Carriage Services (United States), Nirvana Asia Ltd. (Malaysia), Professional Cemetery Services (United States) and SCI Shared Resources, LLC (United States).
On the basis of geography, the market of Cemetery Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services, the sub-segment i.e. Interment Services will boost the Cemetery Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Advancement in Funeral Services
- Growing Demand of Cemetery Services Businesses in the United States Region
- Lack of Consumer Awareness
- Rising Investment in Cremations Service in Developed Regions Such As United States, EMEA, and Others
- Required High Initial Investment to Enter in this Market
Major Market Developments:
In Dec 2019, StoneMor Partners L.P. announced an agreement to sell Oakmont Memorial Park & Mortuary for the carriage services worth USD 33 million. This sale is a StoneMor’s strategy to attract the multiple divest assets and helps in reducing debt levels, and others.
The global cemetery service market is moderately competitive and covers a few market players. In concern of the market share, some of the key players are highly focusing on the global market. These key companies are focusing on strategic partnerships and initiatives to enhance their market share and improve their profitability.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Cemetery Services Providers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Cemetery Service market on the basis of product [At-Need and Pre-Need] , application [Adults, Senior People and Children], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Cemetery Service market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Cemetery Service industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Players which are also part of the research are .
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Cemetery Service market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.