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2024 U.S. Industry Statistics & Market Forecast - Funeral Homes and Funeral Services


Market Size & Industry Statistics

The total U.S. industry market size for Funeral Homes and Funeral Services: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics        2019        2020        2021        2022        2023
Market Size
(Total Sales/Revenue)


Order at top of page
Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2024 2025 2026 2027 2028
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

The Funeral Homes industry has been facing unprecedented changes in recent years due to numerous factors. One of the most notable trends is the increasing number of cremations, which has been driven by changing attitudes towards traditional burial practices and a growing awareness of environmental concerns. As a result, funeral homes are investing more in cremation-related services, such as urns and ash-scattering services, to meet the needs of families.

Another trend affecting the funeral industry is the shift towards personalized, non-traditional funerals. Consumers are seeking more personalized funeral experiences that reflect the unique life of the deceased, including customized caskets, multimedia presentations, and live streaming of services for family and friends who cannot attend in person.

Additionally, technological advancements have been reshaping the funeral industry – such as online memorial websites, virtual reality tours of funeral homes, and the use of social media platforms to share grief and memories. These changes have opened up opportunities for funeral homes to reach more clients, particularly younger generations who are more comfortable with digital technologies.

Lastly, the ongoing COVID-19 pandemic has had a significant impact on the funeral homes industry, with restrictions on gathering sizes and travel making it challenging to hold traditional funerals. As a result, funeral homes are adapting by offering virtual funerals and other online services to support families during this difficult time.



Product & Services Breakdown

Research products and services in the Funeral Homes and Funeral Services industry generating sales. Note that products are broken into categories with different levels of classification.

Product DescriptionNumber of Companies Sales ($ millions) Percent of Total Sales

Industry Total

Cremation Services For Human Remains

Pre-Burial Services For Human Remains

Funeral Planning And Coordination Services (Include Performing Memorial Service.)

Body Preparation Services

Local Transportation Of Human Remains

Long Distance Transportation Of Human Remains

Other Pre-Burial Services For Human Remains

Interment Of Human Remains

Graves, Plots, And Other Spaces For Human Remains

Graves, Plots, And Other Spaces For Human Remains - Sales

Resale Of Funeral Goods

Resale Of - Caskets

Resale Of - Urns And Other Containers For Cremated Human Remains

Resale Of - Cemetery Goods

Resale Of - Floral Arrangements

Resale Of - Other Funeral Goods

Packaged Funeral Services For The Preparation And Disposition Of Human Remains

Resale Of Merchandise

Resale Of Other Merchandise

All Other Receipts

All Other Operating Receipts



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Funeral Homes and Funeral Services company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Funeral Homes and Funeral Services industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Funeral Homes and Funeral Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 12%

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Chief Executives0%
General and Operations Managers2%
Other Management Occupations 10%
Personal Service Managers 10%
Funeral Home Managers 10%
Building and Grounds Cleaning and Maintenance Occupations 12%
Grounds Maintenance Workers 9%
Grounds Maintenance Workers 9%
Landscaping and Groundskeeping Workers 9%
Personal Care and Service Occupations 47%
Funeral Service Workers 46%
Funeral Attendants 24%
Funeral Attendants 24%
Morticians, Undertakers, and Funeral Arrangers 17%
Morticians, Undertakers, and Funeral Arrangers 17%
Office and Administrative Support Occupations 20%
Secretaries and Administrative Assistants 6%
Secretaries and Administrative Assistants 6%
Secretaries and Administrative Assistants, Except Legal, Medical, and Executive 5%
Other Office and Administrative Support Workers 7%
Office Clerks, General 7%
Office Clerks, General 7%
Source: Bureau of Labor Statistics


Funeral Homes and Funeral Services Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Funeral Homes and Funeral Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Funeral Homes and Funeral Services industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Funeral Homes and Funeral Services industry.
Source:
IncFact




Innovation News



Recent Federal Contracts for Funeral Homes and Funeral Services

  • Feb 27, 2024: MARION COUNTY BOARD OF COUNTY COMMISSIONERS (Ocala, FL) awarded $14,000
  • Feb 26, 2024: INTERNATIONAL MORTUARY SHIPPING, LLC (Union, SC) awarded $175,435
  • Feb 23, 2024: TRIPLE ALLIANCE ENTERPRISES, INC. (Desoto, TX) awarded $14,182
  • Feb 23, 2024: SILVER CREEK MORTUARY (Taylor, AZ) awarded $72,150
  • Feb 22, 2024: RILEY'S FUNERAL HOME HAMPTON CHAPEL, INC. (Hampton, SC) awarded $5,500
  • Feb 21, 2024: REDMON AND HOLLAWAY FUNERAL SERVICES, LLC (Mansfield, TX) awarded $27,480




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