Cremation has become the preferred end-of-life choice in the United States, surpassing traditional burials and projecting a market share of 82% by 2045. Its growth is driven by affordability, as the median cost of cremation is considerably lower than that of burials. This significant shift is forcing funeral providers to adapt through changes in pricing, services, and the adoption of innovative technologies. As a result, many funeral homes are diversifying their offerings, leading to a notable reduction in the number of providers since 2004.
Cremation rates soared from 3.56% in 1960 to 61.9% in 2024, with projections estimating 82.1% by 2045, while traditional burials have plummeted to 33.2%.
The cremation boom not only reflects changing consumer preferences but also acts as a transformative force, redefining an industry previously rooted in centuries-old traditions.
Cremation's rise impacts funeral home margins, pushing many towards diversification into memorial services and premium products, contributing to the closure of 27% of providers since 2004.
Emerging technologies such as alkaline hydrolysis and promession offer eco-friendly alternatives, enabling funeral service providers to align with consumer demands for sustainability.
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