Coffin & Casket Manufacturing in the US - Industry Market Research Report

Coffin & Casket Manufacturing in the US - Industry Market Research Report

  • June 2020 •
  • 35 pages •
  • Report ID: 5931555 •
  • Format: PDF
The final nail: Revenue will likely suffer as more consumers to opt for cremation services

Abstract

Coffin & Casket Manufacturing
The Coffin and Casket Manufacturing industry has struggled over the five years to 2019 with changing attitudes toward death among Americans. Although demand for deathcare products and services generally increases in line with the aging baby-boomer population, the expenses associated with burial and a greater cultural acceptance of cremation have sharply reduced demand for caskets. Since cremations are typically the lowest-cost funeral method, this has put pressure on funeral homes, increasing price-based competition in this upstream industry and curtailing manufacturers’ profit. The industry’s decline is expected to continue over the five years to 2024. IBISWorld does not expect any significant growth in cemetery space in the coming years, and space constraints will continue to push up the price of burial, encouraging more consumers to opt for cremation services. In addition, factors such as the mobility of the population and changing religious attitudes, which have driven the popularity of cremation over recent decades, are not expected to reverse.

This industry primarily manufactures burial caskets, cases and vaults intended to contain dead bodies during and after burial or until cremation. Consumers often purchase these items from funeral homes, but in some cases, they may also purchase them directly from the manufacturers.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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