Navigating the Evolving Landscape of the Global Death Care Services Market

LONDON, GREATER LONDON, UK, December 13, 2023 /EINPresswire.com/ -- In a poignant intersection of necessity and innovation, the global death care services market is poised for substantial growth. From $113.42 billion in 2022, the market is projected to reach $122.98 billion in 2023, reflecting a robust Compound Annual Growth Rate (CAGR) of 8.4%. Projections indicate a sustained upward trajectory, with the market size expected to expand to $165.3 billion by 2027, maintaining a steady CAGR of 7.7%.

Catalyst for Growth: Decreasing Life Expectancy
A pivotal driver for the growth of the death care services market is the decreasing life expectancy, signaling a rise in mortality rates. Life expectancy, denoting the number of years an individual can anticipate to live, has seen a decline, leading to an increase in the number of deaths. Notably, data from the Centers for Disease Control and Prevention (CDC) reveals a decline in life expectancy in the US, attributed in part to a surge in accidental deaths and unintentional injuries.

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Market Leaders and Emerging Trends
Major players shaping the death care services market include Service Corporation International, Dignity plc, Carriage Services, Inc., StoneMor Partners L.P., and others. An intriguing trend within the industry is the adoption of the alkaline hydrolysis method for corpse disposal. This chemical process, utilizing sodium hydroxide and heat, yields bone fragments and a non-toxic liquid by-product, disposed of through the sewage system. Some regions, exemplified by Washington state, have embraced the practice of alkaline hydrolysis as an acceptable means of disposition for human bodies.

Regional Dynamics and Comprehensive Analysis
In 2022, the Asia-Pacific region emerged as the predominant player in the death care services market, with North America securing its position as the second-largest region. The global analysis encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Diverse Segmentation to Meet Varied Needs

The global death care services market is intricately segmented, catering to diverse service types, arrangements, and modes:

• By Type: Funeral Homes And Funeral Services, Cemeteries And Crematories
• By Arrangement: At-Need Arrangement, Pre-Need Arrangement
• By Mode: Online, Offline

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Death Care Services Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Death Care Services Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on death care services market size, death care services market drivers and trends, death care services market major players, competitors' revenues, market positioning, and death care services market growth across geographies. The death care services market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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