Coffin & Casket Manufacturing in the US - Industry Market Research Report

The final nail: Space constraints will continue to push up the price of burial

Coffin and casket manufacturing has endured significant volatility through the end of 2023. Although demand for deathcare products and services often increases in line with the aging baby-boomer population, the expenses associated with burial and a greater cultural acceptance of cremation have sharply decreased demand for caskets. Since cremations are often the lowest-cost funeral method, this has put pressure on funeral homes, increasing price-based competition in this upstream industry and curtailing manufacturers' profit. Nonetheless, the COVID-19 pandemic caused an unprecedent number of deaths and this muted the industry's overall decline. Still, the widespread distribution of the COVID-19 vaccine and herd immunity will continue to mitigate COVID-19-related deaths, hampering demand. Coffin and casket manufacturing revenue has plunged at a CAGR of 4.4% over the past five years and is expected to total $652.7 million in 2023, when revenue will fall by an estimated 0.6%. This industry primarily manufactures burial caskets, cases and vaults intended to contain dead bodies during and after burial or until cremation. Consumers often purchase these items from funeral homes, but in some cases, they may also purchase them directly from the manufacturers. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.