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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 provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

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 SWOT Analysis Chapter

The Funeral Homes industry is in the mature phase of its lifecycle. Demand for industry services does not typically fluctuate with the business cycle but instead depends on demographic factors and consumer preferences. Canada's growing and aging population results in the number of deaths following an upward trajectory over the long-term, benefiting industry revenue. In recent years, consumer preferences have trended toward lower-cost, simpler ceremonies and cremations, dampening industry profitability. Over the 10 years to 2021, industry value added (IVA), or contribution to the overall economy, is expected to slow to an annualized rate of 0.6%. In comparison, Canada's GDP is projected to grow at an annualized rate of 1.9% over the period... 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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