Funeral, Crematorium and Cemetery Services in New Zealand - Industry Market Research Report

Playing with fire: The popularity of lower-priced cremations has been burying revenue and profit

Providers of funeral, crematorium and cemetery services have been facing challenging operating conditions. Service revenue is highly correlated with the number of annual deaths. New Zealand's population has been expanding, contributing to more deaths, which supports revenue from funerals and other death-related services. Household disposable incomes have been trending upwards, leaving New Zealanders with more money to spend on expensive burial services. Despite these positive factors, revenue has dwindled thanks to the effects of the COVID-19 pandemic. Funeral, crematorium and cemetery service revenue is expected to decline at an annualised 0.4% over the five years through 2022-23, to total $289.1 million. Industry participants operate funeral homes, cemeteries and crematoria. Services provided include managing and conducting funerals, cremations and burials, as well as the provision of undertaking and embalming services. 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.