Major companies in the death care services market include Service Corporation International (SCI); Nirvana Asia Ltd and Fu Shou Yuan International Group.
The global death care services market is expected to grow from $103.93 billion in 2020 to $109.79 billion in 2021 at a compound annual growth rate (CAGR) of 5.6%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $147.38 billion in 2025 at a CAGR of 8%.
The death care services market consists of 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. The death care services market is segmented into funeral homes and funeral services; and cemeteries and crematories.
Asia Pacific was the largest region in the global death care services market, accounting for 40% of the market in 2020. 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.
Death care service companies are increasingly using the alkaline hydrolysis method for disposing of corpses. Alkaline hydrolysis is a chemical process for the disposal of human remains using sodium hydroxide and heat. The method uses a solution of 95% water and 5% potassium hydroxide or sodium oxide to reduce a body to components of liquid and bone. Bone fragments are retained and dried into a substance which is similar to cremated ashes. The liquid by-product of alkaline hydrolysis is a non-toxic solution that is disposed through the sewage system. As of August 2019, 19 states in the United States of America have legalized practice of alkaline hydrolysis.
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