Burial Casket: Introduction
- Burial caskets used for burial are made from wood or metal and come with a number of liner options for the interior. Bronze, copper, or steel are used to manufacture metal burial caskets while the most basic type of wooden burial casket is a woven casket.
- The burial casket industry is greatly affected by the evolution in the product and consumer demand. The coronavirus pandemic has affected countless industries around the world for the worse while the funeral business on the other hand is thriving. The burial casket market is expected to grow during the forecast period due to the current health scenario.
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Key Drivers and Opportunities of the Global Burial Casket Market
- The rise of COVID-19 is a major factor expected to drive the burial casket market. The rise in elderly population, increasing accidents, natural calamities, health issues, depression, and suicides are the parameters which are likely to fuel the burial casket market during the forecast period. Economy has a role to play in this market; stronger the economy, more will be the demand for high end burial caskets.
- Many people are coming up with startups to enter the funeral services industry. The startups have tie ups with hospitals, cemeteries, and crematoriums, and offer hassle free services. The offering of a complete package in the form of funeral service and burial casket is likely to be preferred by consumers during the forecast period.
- The only threat to the industry is the increasing popularity of cremation due to its eco-friendlier nature compared to a burial. Cremations accounted for 50.2 percent of funerals in 2016, up from 48.5 percent in 2015 in the U.S.
- The US$ 20 billion funeral services industry is being forced to meet the changing desires of the customer while many people also are increasingly preplanning their funeral arrangements since the pandemic began. Few global players who operate in this market and new players entering the market have huge scope during the forecast period.
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Europe to Hold Major Share of the Global Burial Casket Market
- In terms of geography, the global burial casket market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- Europe holds majority share in the global burial casket market. The pandemic hit many countries in the region adversely, resulting in rising death rates. Europe is likely to be followed by North America in terms of share in the burial casket market. The U.S. is the dominating country in the global burial casket market.
- Next in ranking are South America, Middle East & Africa, and Asia Pacific. Despite countries with higher population in Asia Pacific, the burial rate in the region is low and hence it accounts for minimum share in the global burial casket market.
Key Players Operating in the Global Market
Major players operating in the global burial casket market include:
- Amalgamated Casket Company Pty. Ltd.
- Batesville Casket Company
- Cercueils Alliance Caskets Inc.
- Clark Grave Vault Co.
- H. H. Webb & Co. Pty. Ltd.
- M And N Coffin And Casket Manufacturing
- Northern Casket (1976) Limited
- Southern Craft Manufacturing Inc.
- Thacker Casket Manufacturing Inc.
- Victoriaville & Co Inc.
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