Published on 7 Dec 2022 on Insider Monkey via Yahoo Finance

10 Biggest Funeral Companies in the US

In this article, we discuss the 1o biggest funeral companies in the US. If you want to read about some more funeral companies in the US, go directly to the 5 Biggest Funeral Companies in the US.

The funeral service sector is a relatively new one in the United States. Funerals in the United States were presided over by family and neighbors and held in homes up until the 20th century. On the family's land, burials took place frequently. Common cemeteries started to be used as communities grew and established. Later, funeral houses were created to help families with the practical issues brought on by death. The funeral industry has grown increasingly competitive with the advent of "alternative" funeral service providers and retail outlets in recent years. These businesses promote themselves as less expensive options to conventional funeral homes. These non-traditional funeral service providers normally provide the same services as funeral directors, although they may focus on particular services or provide services in a packaged, streamlined, or "no-frills" manner.

According to Statista, in 2022, the market size of funeral homes in the United States was estimated to be $18 billion. This is a significant increase of more than $2 billion since 2021 and indicates the largest annual growth between 2015 and 2022. The market size of the funeral homes industry is expected to increase by 0.5% in 2022. The industry has grown 0.5% per year on average between 2017 and 2022. The primary negative factors affecting this industry are the number of deaths and high competition. In addition to deaths from accidents, suicide, and other causes, the number of deaths is influenced by factors such as the age distribution of the population, infant mortality rates, illness prevalence, and natural catastrophes. As a result, there are fewer fatalities per generation, which harms the revenue generated by the funeral homes sector.