Casket companies make some news. . . .and what is the future demand

In a new world order that includes cremation, alkaline hydrolysis, and natural organic reduction it is sometimes forgotten that over 1 million caskets are sold in the United States every year.  To that discussion we will bring you some news from a couple of casket companies today.

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Batesville, long known for its casket products, is continuing their transition to a total solutions company for funeral homes.  To that end they are introducing their “Remembrance Store” which will be a co-branded turnkey e-commerce storefront designed to generate incremental revenue streams for funeral homes.

According to this recent press release from Batesville,  “families are increasingly turning to outside providers and often shopping online for urns, remembrance jewelry, keepsakes, and other memorial products, leaving funeral homes vulnerable to both lost revenue and relationships”.

According to that press release:

• 58% of pre-need and 64% of at-need families researched funeral products such as urns and jewelry online, highlighting a need for shoppable digital resources consumers can access prior to contacting the funeral home.

• 30% of families buy urns before contacting a funeral home.

• 38% of pre-need and 37% of at-need consumers purchased remembrance products through Amazon.

• 32% of pre-need and 36% of at-need families consider shopping online to be a more ideal place to purchase memorialization products vs. only 20% at funeral homes.

Batesville’s “Remembrance Store”  will give families who prefer to shop online the convenience of purchasing through their trusted funeral home, which would allow funeral homes to capture that online revenue that may be going to other sources at this time.

Private Label Caskets, operating out of Indianapolis, Indiana, recently posted the following notice to their website:

Another Announcement ––  While we didn’t see it as a press release on the Batesville website we did receive the following notice from Batesville on their Facebook page which appeared on our Facebook scroll on October 28:

“We’re honored that Private Label has chosen Batesville as their recommended domestic supplier for their customers.  In times of change, we believe strength comes from partnership — and we’re committed to making this transition seamless for every funeral home they serve.  At Batesville, we’re proud to honor the tradition that defines this profession while driving the transformation prepares it for the future.”

Tom Anderson
Funeral Director Daily

Funeral Director Daily take:  The National Funeral Directors Association (NFDA) recently released this report which predicts that traditional burial in a casket will drop from today’s selection rate of 33.2% to approximately 13.0% –  a number that is lower than was originally thought —  by 2045.

We question what that might mean for casket companies in raw numbers.  Here’s some available statistics and some projected ideas that may give meaning to that answer.

In 2024, the United States reported approximately 3.1 million deaths with a 33.2% burial rate.  Extrapolating those numbers would mean that about 1,029,000 caskets were needed for those burials.

In 2050, projections tell us that the United States will grow to about 380 million people and the death rate per thousand people will grow from today’s level of about 9.06 deaths per 1,000 people to about 10.3 deaths per 1,000 people because of an “older average age”.  Projections tell us extrapolating those numbers would bring about a raw number death total of about 3.9 million residents.  At a 13.0% casket useage that would mean that about 507,000 caskets would be needed for those deaths.

Total US Population
1950 = 148 million, 2010 = 309 million, 2025 = 343 million

So, if those population, death rate, and disposition projections hold up over the next two decades you can see that only about 1/2 of the caskets used today will be needed in 2050.  If those numbers hold up there will probably be casket company consolidations and, as Batesville is doing, branching of the company into other segments.

U.S. Death Rate
1950=9.65/1000, 2010=8.00/1000, 2021=10.40/1000, 2021 represents a rise per pandemic

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