Death Care Industry
The death care industry is valued at $1 billion in Canada.
It has traditionally been comprised of three principal segments:
- ceremony and tribute, typically in the form of a funeral or memorial service.
- disposition of remains through burial or cremation
- commemoration of the deceased through monuments, markers or inscriptions
Family Memorials is well placed to capitalize on certain attractive fundamental characteristics applicable to the death care industry and, in particular, to the monument segment of that industry.
Death rates in Canada and the US are predictable and demographics point to a significant increase as the bulk of the population ages over the next 25 years.
Death care businesses have traditionally existed with local heritage, tradition and community presence that discourages new entrants into these markets. This presents industry leaders with an opportunity to acquire significant referral business.
Ownership in the death care industry is highly fragmented with the exception of bronze memorial suppliers and casket manufacturers. The majority of death care operators are small, family-owned companies.
The funeral home and cemetery segments of the death care industry have already undergone considerable consolidation. Family Memorials is the first company in North America to begin consolidation in the monument segment.