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Funeral Homes in Canada: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Funeral Homes in Canada Market Research Report | NAICS 81221CA | Mar 2016

Ashes to ashes: Consumers will demand more inexpensive and environmentally friendly funeral options

IBISWorld’s Funeral Homes market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 11-16
1.0%
Annual Growth 16-21
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Profit
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Employment
15,758
Businesses
1,224
Industry Analysis & Industry Trends

Demand for Funeral Homes industry services does not strongly fluctuate with the business cycle and is more a product of demographic factors and consumer preferences. Canada's growing and aging population has resulted in the number of deaths trending upward over the past five years, boosting demand for funeral services. However, traditional burials are costly and a growing number of Canadians are opting for cremations to alleviate the financial pressure of honouring their loved ones. During the five years to 2021, demographic and societal factors will continue to drive industry growth. As more baby boomers (individuals born between 1946 and 1964) become seniors, the number of adults aged 65 and older is anticipated to increase... purchase to read more

Industry Report - Industry Investment Chapter

The Funeral Homes industry has a low level of capital intensity. For every dollar spent on wages, operators allocate about $0.09 toward capital investment. Funeral homes must purchase buildings, motor vehicles and equipment such as mortuary cots and cot covers, casket display racks, casket carriers, chairs, devotional stands, casket biers, operating tables, body and casket lifts, tents and vault carts. The appearance of a funeral home is an important factor in attracting customers, leading operators to invest a significant amount of money in maintaining their property.

In addition to capital expenses, funeral homes must invest heavily in their staff... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Funeral Homes Industry?

This industry conducts funerals and prepares the deceased for burial or interment. Funeral homes organize wakes, transport the deceased and sell caskets and related merchandise. This industry includes funeral homes combined with crematories; however, establishments that primarily conduct cremation are excluded from this industry and are included in the Cemetery Services industry (IBISWorld report 81222CA).

Industry Products
Preburial servicesFuneral-related merchandise salesPackaged funeral servicesCremation servicesInterment services
 
Industry Activities
Providing funeral director servicesProviding embalming servicesOperating funeral homes combined with crematoriesProviding mortician servicesProviding visitation or viewing servicesProviding funeral servicesProviding graveside committal servicesSelling funeral merchandise, such as caskets, flowers and obituary noticesTransporting the deceased


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