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.
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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Global Burial Casket Market: Research Scope
Global Burial Casket Market, by Product Type
- Metal Casket
- Wooden Casket
Global Burial Casket Market, by Price
Global Burial Casket Market, by Distribution Channel
Global Burial Casket Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.