Death Care Services
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 14,500 death care service providers in the US prepare the dead for burial or interment, conduct funerals, and operate sites or facilities reserved for the interment of human or animal remains. Death care service providers include funeral homes, cemeteries, and crematories. Funeral homes account for about 74% of firms, while cemeteries and crematories account for the remainder. Some companies operate facilities that provide funeral services and cemeteries at the same location.
Pre-need Sales Dependent on Financial Markets
Because the proceeds from pre-need sales are typically invested in stocks, bonds and other instruments, death care service providers are vulnerable to declines in financial markets.
Government Regulation
Because the purchase of death care services occurs when families are especially vulnerable, sales are regulated at the federal, state, and local level.
Industry size & Structure
The average death care services provider operates out of a single location, employs 9-10 workers, and generates over $1.5 million annually.
- The death care services industry consists of about 14,500 companies that employ 137,000 workers and generate about $23 billion annually.
- Funeral homes account for about 74% of firms, while cemeteries and crematories account for the remainder.
- The funeral home industry is fragmented; the top 50 firms account for about 22% of industry sales. The cemetery industry is less fragmented; the top 50 firms account for about 53% of industry revenue.
- Traditionally, death care service providers have been small, family-owned businesses that are passed down for generations.
- Large companies include Service Corporation International and Carriage Services.
Industry Forecast
Death Care Services Industry Growth
Recent Developments
Jan 21, 2025 - Revenue Down in Q3
- Total revenue for death care companies in Q3 fell 5.8% compared to a year ago and declined 3.7% compared to the previous quarter, according to the latest data from the Census Bureau. Employment by death care services decreased 0.7% in October 2024 compared to a year ago, according to data from the US Bureau of Labor Statistics. Average wages for nonsupervisory employees in the industry rose 1.6% in October 2024 year over year, reaching $21.62 per hour.
- US life expectancy increased in 2023, according to new data released in December 2024 by the Centers for Disease Control and Prevention. The average life expectancy for the US population in 2023 was about 78.4 years, an increase of 0.9 years from 2022. Life expectancy for males increased from 74.8 years in 2022 to 75.8 years in 2023 while life expectancy for females increased from 80.2 years in 2022 to 81.1 years in 2023. The top three leading causes of death in the US in 2023 were heart disease, cancer, and unintentional injuries. COVID-19 as a cause of death dropped from the fourth leading cause in 2022 to the tenth leading cause in 2023.
- According to Connecting Directors, Thacker Caskets has introduced a new personalization option called “Lid Art” allowing families to add memorial portraits, photo inserts, and other designs to the casket. The program is called “Impressions by Thacker” and allows families to choose from 40 different designs such as hobbies, interests, religion, and the military. The lid art is a full-length magnet that can be installed on the lid. The company considers it an option for families who are considering getting a casket wrapped. According to Thacker’s VP of Marketing, Danielle Thacker, “We have recognized the growing interest by consumers of unique methods of personalization. Consumers have begun going to sources outside the funeral industry to achieve this. A great example is those consumers who have begun purchasing vinyl wrapped caskets, just like a vinyl wrapped car. Thacker has answered this growing funeral consumer demand in a way that is much more affordable and can be done on a traditional at-need delivery timeline with its new lid art product.”
- Several acquisitions in the death care space address providing different types of services to meet the needs of today’s consumers, according to Funeral Director Daily. Major funeral services provider Foundation Partners Group (FPG) acquired the end-of-life help online platform Cake in September 2024. FPG said the acquisition is expected to streamline and personalize the end-of-life planning experience for individuals and families. In September 2024, Batesville acquired death care software case management company Halycon to expand its services offered to funeral homes. The acquisition is expected to assist funeral homes with software offering a family-facing arrangement tool, software with body-tracking capabilities, pet cremation management software, and trade services management software.
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