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 Locations Chapter
The number of deaths in Canada, which dictates demand for funeral services, primarily depends on demographic factors. The incidence of death is higher in areas where the population is larger and older. Consequently, funeral homes tend to be located in more populated areas, where demand for their services is higher. As a result, the majority of funeral homes are located in Ontario, Quebec, Alberta and British Columbia, which are the most densely populated provinces in Canada.
Ontario is home to 38.5% of Canada's total population, while Quebec accounts for another 23.2% of Canadians. Both provinces are leaders in the health and life sciences sector, raising the average life expectancy among inhabitants of these provinces... purchase to read more