In 2024, the market size of funeral homes in the United States was estimated to be **** billion U.S. dollars. This was an increase of roughly *** million U.S. dollars when compared to 2023 and indicated growth of *** percent.

The Funeral Directors, Crematoria and Cemeteries industry’s performance strongly depends on the number of deaths in Australia each year. For decades, medical advances, higher living standards and improved attitudes to health have helped lift the average life expectancy, slowing growth in the death rate. Government restrictions on funeral sizes from the fourth quarter of 2019-20 through part of 2021-22 lowered the average spend per funeral, leading to industry revenue declines over the two years through 2020-21. The COVID-19 pandemic caused the deaths of approximately 15,000 Australians between March 2020 and September 2022, but this represented a moderate proportion of total deaths in Australia, limiting its impact on revenue. Meanwhile, cremations’ increasing popularity has hindered revenue growth, as cremations typically generate less revenue per service. Major companies like InvoCare have reported they struggled over the two years through 2023-24 as consumers tried to cut back their spending amid high inflation and interest rates. The ACCC has also targeted the industry for increased enforcement, and combined, these factors have contributed to a dilution of the industry’s pricing power, limiting margin growth since 2021-22. Overall, industry revenue is expected to increase at an annualised 3.1% over the five years through 2024-25 to $2.0 billion. This trend includes an anticipated 4.2% spike in 2024-25. Most funeral directors are small, family-owned businesses. Funeral directors charge a professional services fee for conducting and managing core funeral services, like collecting and preparing the body for viewing, running the ceremony and transporting the body to the burial site or crematorium. Although governments or not-for-profit trusts own most cemeteries and crematoria, private companies increasingly own and operate these facilities. InvoCare is the largest company, accounting for more than one-quarter of industry revenue in 2024-25. The company was acquired by TPG Capital and delisted in November 2023. The market for funeral services will continue to expand over the coming years. A steady rise in annual deaths, an expanding population and recovering economic conditions will propel industry revenue growth. Even so, more families will choose lower priced cremation services over traditional burial services, limiting the pace of expansion and growth in margins. Industry revenue is forecast to climb at an annualised 4.8% over the five years through 2029-30 to $2.5 billion.

The funeral services sector has undergone notable changes driven by shifting consumer preferences and demographic trends. Personalization has become a cornerstone, enhancing client engagement through tailored ceremonies that honor individual lives. Providers offer themed ceremonies and environmentally-friendly options, allowing for a broad spectrum of experiences that appeal to diverse needs. Rising cremation popularity, driven by affordability and eco-mindedness, necessitates innovative approaches to maintain relevance. Moreover, digital integration is redefining services, with virtual offerings becoming standard. Funeral homes are leveraging technology to facilitate connections, accommodating today's digitally connected families while expanding their service reach. Industry revenue is estimated at a CAGR of 0.8% to $20.8 billion over five years, including a projected 2.1% rise in 2025. In the past five years, the industry's cost management strategies have been pivotal in maintaining profitability despite the pressure of increasing wages. Staffing remains a priority, as skilled professionals are vital for personalized and compassionate services. Wage costs form a significant portion of expenses, but providers counterbalance this by offering premium customized options. Long-term supplier relationships stabilize purchase costs, helping manage the budget effectively. Lower depreciation and rent expenses allow for resource reallocation toward enhancing service quality. The emphasis on community reputation minimizes marketing outlays, primarily driven by referrals, enabling a focus on more impactful investments like training and technology. Looking ahead, prospects appear favorable with an aging population generating sustained demand. Providers will likely craft offerings that resonate with diverse cultural and religious backgrounds, expanding their client base. Urbanization presents new challenges that will drive innovation in service delivery, adapting to space and regulatory limitations. The trend toward pre-planning and pre-payment plans is expected to climb as consumers seek peace of mind and financial certainty. Digital transformation will continue, with funeral homes enhancing virtual experiences to meet technological expectations. Multiculturalism will fuel further customization, prompting providers to offer unique and personalized tributes. By embracing these trends, the industry will remain competitive while meeting evolving consumer needs. Overall, revenue is forecast to rise at a CAGR of 2.4% to $23.4 billion over the next five years.

China Funeral Service: Enterprise: Sales Revenue data was reported at 20,421.998 RMB mn in 2021. This records an increase from the previous number of 13,886.510 RMB mn for 2020. China Funeral Service: Enterprise: Sales Revenue data is updated yearly, averaging 7,791.267 RMB mn from Dec 2006 (Median) to 2021, with 16 observations. The data reached an all-time high of 20,421.998 RMB mn in 2021 and a record low of 2,981.347 RMB mn in 2007. China Funeral Service: Enterprise: Sales Revenue data remains active status in CEIC and is reported by Ministry of Civil Affairs. The data is categorized under China Premium Database’s Other Personal Service Sector – Table CN.GZP: Funeral Service Operation.

United States - Total Revenue for Funeral Homes and Funeral Services, All Establishments, Employer Firms was 16940.00000 Mil. of $ in January of 2022, according to the United States Federal Reserve. Historically, United States - Total Revenue for Funeral Homes and Funeral Services, All Establishments, Employer Firms reached a record high of 17162.00000 in January of 2021 and a record low of 10181.00000 in January of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Total Revenue for Funeral Homes and Funeral Services, All Establishments, Employer Firms - last updated from the United States Federal Reserve on October of 2025.

In 2024, there were almost ****** funeral homes in the United States - a slight decrease compared to the previous year. There were roughly ***** fewer funeral homes in the United States in 2024 than there were in 2004. Death care services There are several different components that make up the death care services industry in the United States. As this service is deemed a necessity by most, historically it has demonstrated itself as profitable engagement. Funeral homes, for example, had a market size of **** billion U.S. dollars in 2024 - an increase when compared to the previous year. With such a large and nationwide enterprise, the funeral service industry alone needed a workforce of approximately ****** funeral attendants in 2024. Furthermore, the mean annual wage of this personnel group was around ****** U.S. dollars in 2024. Cremation services The cremation rate in the United States has been increasing rapidly since 1975. To demonstrate the swift rise in popularity of cremations, this rate was at **** percent in 1975 and reached approximately ** percent in 2024. With such a rise in prominence came an increase in price for this death care service. The median cost of an adult funeral with a viewing and a cremation in the United States was almost ***** U.S. dollars in 2023, meaning this service increased in price by almost ***** U.S. dollars since 2014.

United States - Total Revenue for Funeral Homes and Funeral Services, Establishments Subject to Federal Income Tax, Employer Firms was 16940.00000 Mil. of $ in January of 2022, according to the United States Federal Reserve. Historically, United States - Total Revenue for Funeral Homes and Funeral Services, Establishments Subject to Federal Income Tax, Employer Firms reached a record high of 17162.00000 in January of 2021 and a record low of 10181.00000 in January of 1998. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Total Revenue for Funeral Homes and Funeral Services, Establishments Subject to Federal Income Tax, Employer Firms - last updated from the United States Federal Reserve on October of 2025.

China Funeral Service: Cremation Rate data was reported at 58.800 % in 2021. This records an increase from the previous number of 55.700 % for 2020. China Funeral Service: Cremation Rate data is updated yearly, averaging 47.750 % from Dec 1986 (Median) to 2021, with 36 observations. The data reached an all-time high of 58.800 % in 2021 and a record low of 26.200 % in 1986. China Funeral Service: Cremation Rate data remains active status in CEIC and is reported by Ministry of Civil Affairs. The data is categorized under China Premium Database’s Other Personal Service Sector – Table CN.GZP: Funeral Service Overview.

The U.S. Burial Insurance Market is a rapidly growing industry, valued at USD 35.87 billion in 2021. It is projected to grow at a CAGR of 3.4% during the forecast period of 2022-2027 due to factors such as increasing awareness about the importance of burial insurance, growing geriatric population, and rising healthcare costs.

China Funeral Service: Number of Unit data was reported at 4,373.000 Unit in 2021. This records an increase from the previous number of 4,201.000 Unit for 2020. China Funeral Service: Number of Unit data is updated yearly, averaging 2,969.000 Unit from Dec 1985 (Median) to 2021, with 37 observations. The data reached an all-time high of 4,559.000 Unit in 2014 and a record low of 155.000 Unit in 1985. China Funeral Service: Number of Unit data remains active status in CEIC and is reported by Ministry of Civil Affairs. The data is categorized under China Premium Database’s Other Personal Service Sector – Table CN.GZP: Funeral Service Overview.

Graph and download economic data for Producer Price Index by Industry: Burial Casket Manufacturing: Secondary Products (PCU339995339995S1) from Jun 2012 to Sep 2021 about funeral, secondary, production, manufacturing, PPI, industry, price index, indexes, price, and USA.

In 2021, nearly *********** bodies were cremated in China. There were around *** thousand funeral homes and over ***** thousand crematories in the country. The cremation rate exceeded ** percent in 2021.

殡葬服务业:企业:营业收入在12-01-2021达20,421.998百万人民币，相较于12-01-2020的13,886.510百万人民币有所增长。殡葬服务业:企业:营业收入数据按年更新，12-01-2006至12-01-2021期间平均值为7,791.267百万人民币，共16份观测结果。该数据的历史最高值出现于12-01-2021，达20,421.998百万人民币，而历史最低值则出现于12-01-2007，为2,981.347百万人民币。CEIC提供的殡葬服务业:企业:营业收入数据处于定期更新的状态，数据来源于民政部，数据归类于中国经济数据库的其他个人服务业 – Table CN.GZP: Funeral Service Operation。