The funeral market - United Kingdom

The global funeral market, valued at $62.5 billion in 2023, is anticipated to grow at an average annual rate of 6.1% to reach $113 billion by 2033. A rise in cremations, partly due to changing preferences and partly to the COVID-19 pandemic, has been observed, with the UK seeing an increase from 74.37% in 2000 to 80.93% in 2021. The UK funeral market is witnessing a shift towards personalized and eco-friendly services, with a significant uptake in direct cremations, which increased from 2% in 2018 to 18% in 2022. Demographics show an aging population, with a higher ratio of older women, and in England, COVID-19 has notably contributed to a deviation from expected mortality rates across all age groups. The UK's market landscape features fragmentation with small local businesses and national chains; Dignity Ltd reported a turnover of £270.5 million in 2022, and Pure Cremation showed £11.2 million in 2021. Regulations vary, with Scotland moving towards a statutory licensing scheme while other regions remain unregulated..Evolving Funeral Market Trends in the UK In recent years, the UK has witnessed several significant trends reshaping its funeral market. These trends are a reflection of demographic shifts, changing social norms, and economic factors, as well as the lingering effects of the Covid-19 pandemic. Demographically, the UK is experiencing an aging population with a higher proportion of women amongst the elderly, especially evident in higher age groups. With a total of nearly 12.6 million people aged 65 or older, representing around 20 percent of the national population, the demand for funeral services is expected to increase. Mortality rates have changed due to the pandemic, with deaths in the 85 years and older age group being the most recorded, and a significant number of excess deaths in all age groups when compared to expected figures. Notably, there have been between 4,000 and 5,000 deaths due to Covid-19 in the 65-74 age group. Cremation trends have been particularly noteworthy. Between 2000 and 2021, cremations in the UK increased from about 70 percent to over 80 percent of all deaths. This shift towards cremation is attributed to several factors, including increased cost-effectiveness, lack of space in traditional cemeteries, and a growing desire for more flexibility in memorial practices. The market for funeral services is highly fragmented, featuring a mix of small local businesses and larger national companies. This has led to localized demand, with most clients preferring nearby crematory services. The diversity of the industry is also reflected in the number of funeral homes and crematoria, with around 315 crematoria reported in 2021. Financially, the cost of a funeral can vary significantly across regions, with prices for a simple cremation ranging from approximately £2,800 to £3,350 and for a burial from around £3,000 to over £7,200 across different places in the UK. The funeral market's segmentation reveals that leading companies are turning towards offering both traditional and cremation services, highlighting the importance of flexibility in catering to current demands. Dignity Ltd, Pure Cremation, and Funeral Partners are some of the key players in the market, showing turnovers ranging from £10 to £60 million for Funeral Partners and £9 to £28 million for Golden Charter Ltd. Regulations within the UK funeral services sector differ across regions. While England, Wales, and Northern Ireland have no formal regulatory frameworks for funeral directors, Scotland's Burial and Cremation (Scotland.### Key Market Players Shaping the UK Funeral Industry The UK funeral market is characterized by a dynamic mix of traditional and modern companies that provide a broad range of services to cater to the evolving needs and preferences of their customers. These key players include both large-scale providers with national networks, as well as specialized firms that offer targeted services such as direct cremation and eco-friendly burials. Here's an overview of some of the significant companies leading the charge in the UK funeral market: **Pure Cremation:** Standing out for its focus on direct cremations, Pure Cremation addresses the growing demand for no-frills, affordable funeral options. The company prides itself on its straightforward service that involves the cremation of the deceased sans a formal funeral service followed by the return of the ashes to the family. Their business model revolves around simplicity, affordability, and customer convenience. **Funeral Partners:** Funeral Partners distinguishes itself as one of the UK's chief independent funeral service providers with an impressive portfolio of over 200 branches. Owned by the private equity firm LDC, Funeral Partners maintains a commitment to offering personalized services and helping families through difficult times with compassion and sensitivity. **Dignity Ltd:** Dignity is a heavyweight in the UK funeral sector, boasting a substantial presence with over 800 branches nationwide. Recognized for its full spectrum of funeral services, the company ensures that each farewell is as unique as the individual it honors. Dignity is publicly traded on the London Stock Exchange, reflecting its prominence and the trust placed in it by the public. **Golden Charter Ltd.:** This company is notable for its pre-planned funeral arrangements, offering insurance and retirement plans that provide peace of mind to individuals looking to prepare for the future. Golden Charter Ltd. is known for its commitment to making the process of planning a funeral as seamless and stress-free as possible. **The Green Graveyard Company Ltd:** True to its name, The Green Graveyard Company is an innovator in sustainable burials. The firm provides a range of eco-friendly options that allow for the deceased to be laid to rest in a manner that honors their environmental values. They offer services that include natural burials and biodegradable caskets, thus catering to a niche yet increasingly significant segment of the market. **Natural Burial Company Ltd:** Specializing in nature-based funerals, this company offers services that reflect a profound respect for the environment. Their approach includes natural burials and group ceremonies, all designed to provide a dignified and eco-conscious farewell to loved ones.

Inforamtion

• Number of pages : 30 pages
• Format : Digital and PDF versions
• Last update : 26/04/2023

Update Details

---

Summary and extracts

List of charts

• Funeral industry turnover
• Growth forecasts for the funeral industry
• Percentage of cremations
• Number of registered deaths in England
• Choice by type of burial in 2018
• Choice by burial type in 2022
• Reasons for direct cremation
• Number of companies in the field of funeral services and related activities

Show more Hide

---