A recent report published by
Infinium Global Research provides an in-depth analysis of segments and
sub-segments in the global as well as a regional casket and coffin market. The
study also highlights the impact of drivers, restraints, and macro indicators
on the global and regional casket and coffin market over the short term as well
as long term. The report is a comprehensive presentation of trends, forecast
and dollar values of the global casket and coffin market. According to the report,
the global casket and coffin market is projected to grow with a healthy CAGR
over the forecast period of 2021-2027.
The casket and coffin market is
expected to grow with a healthy CAGR during the forecast period. A casket is a
specially intended box made to contain a deceased person’s body. It is
typically utilized during a funeral service for viewing the body. Then, if the
family has not chosen a cremation burial, the casket containing the body is
lowered into the ground during the burial ceremony. However, a coffin is also a
particularly designed box that holds a deceased person’s body for a funeral
service. Like a casket, it may also be utilized for viewing and burial. In most
countries outside the United States, people use the term ‘coffin’ when they
want to describe the ceremonial box that is utilized to hold a loved one’s body
during the funeral and burial.
Many people are coming up with
start-ups to enter the casket and coffin market. The start-ups have tie-ups
with hospitals, cemeteries, and crematoriums, and provide hassle-free services.
Furthermore, the offering of a complete package in the form of a burial casket
and coffin is likely to be preferred by consumers during the forecast period.
However, the only threat to the industry is the increasing popularity of
cremation owing to its eco-friendlier nature compared to burial. Cremations
accounted for 50.2% of funerals in the year 2016, up from 48.5% in the year
2015 in the United States. The casket and coffin industry is being forced to
meet the changing desires of the customer while numerous people also are
increasingly preplanning their funeral arrangements since the epidemic began. Few
global players who operate in this market and new players entering the market
have enormous scope during the projection period.
Among the geographies, the North
American region is expected to hold the largest share in the global casket and
coffin market owing to the presence of numerous key players in the region.
Further, the region is also anticipated to account for the major market share
owing to the increasing number of deaths across the region. Moreover, the
European region is projected to witness the fastest growth in the casket and
coffin market during the forecast period. The pandemic hit numerous countries
in the region adversely, resulting in increasing death rates. Additionally, the
European region is likely to be followed by North America in terms of share in
the casket and coffin market.
The report on the global casket and
coffin market covers segments such as material, price, and distribution
channel. On the basis of material, the sub-markets include metal, wooden, and
others. On the basis of price, the sub-markets include low, medium, and high.
On the basis of distribution channel, the sub-markets include online, and
The report provides profiles of
the companies in the market such as Hillenbrand Inc., Matthews International
Corp., 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 Limited,
and Thacker Casket Manufacturing Inc..
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and restraining
the growth in this market. Moreover, The IGR-Growth Matrix analysis given in
the report brings an insight into the investment areas that existing or new
market players can consider. The report provides insights into the market using
analytical tools such as Porter's five forces analysis and DRO analysis of the casket and coffin market. Moreover, the study highlights current market trends
and provides forecast from 2021-2027. We also have highlighted future trends in
the market that will affect the demand during the forecast period. Moreover,
the competitive analysis given in each regional market brings an insight into
the market share of the leading players.