--- title: U.S. Funeral Home Revenues Grow the Most in 20 Years in 2020 description: The COVID-19 pandemic resulted in a record 3.4 million deaths and a record 1.9 million cremations, and the death care industry benefitted from that increase in 2020 and 2021. image: https://blog.marketresearch.com/hubfs/Autumn%20colors%20on%20a%20tree%20at%20the%20Gettysburg%20National%20Cemetary%2c%20Pennsylvania..jpeg --- [![MarketResearch.com](https://blog.marketresearch.com/hs-fs/hub/209482/file-22777923.gif?width=295&height=66&name=file-22777923.gif "MarketResearch.com")](https://www.marketresearch.com/) [Market Research Blog](https://blog.marketresearch.com/) # U.S. Funeral Home Revenues Grow the Most in 20 Years in 2020 by [John LaRosa](https://blog.marketresearch.com/author/john-larosa), on August 1, 2022 ![death care industry statistics 2020-2022](https://blog.marketresearch.com/hs-fs/hubfs/Autumn%20colors%20on%20a%20tree%20at%20the%20Gettysburg%20National%20Cemetary%2c%20Pennsylvania..jpeg?width=300&name=Autumn%20colors%20on%20a%20tree%20at%20the%20Gettysburg%20National%20Cemetary%2c%20Pennsylvania..jpeg)The $20 billion U.S. funeral homes industry is a mature, low-growth and fragmented business comprised of mostly independent services. The COVID-19 pandemic resulted in a record 3.4 million deaths and a record 1.9 million cremations, and the industry benefitted from that increase in 2020 and 2021. This is a fragmented industry, where barriers to entry are high. The four largest companies in the business as a group capture 22% of total sales. Approximately 85% of funeral homes in the United States are privately owned by families or individuals. ## Top 5 Things to Know About the Funeral Home Industry **Industry size:** Marketdata estimates that the U.S. death care industry was worth $20.2 billion in 2021, with receipts up 8.4% from 2019. Approximately $15.6 billion of this was generated by funeral homes. Revenues grew another 7.7% in 2021 to $21.7 billion. Industry revenues are forecast to grow at a slower 1.9% average annual pace from 2022-2025, to $23.4 billion. **COVID-19 pandemic affects operations:** The pandemic has turned the industry inside out, in terms of how it serves its customers. Cremations reached a record 1.9 million in 2020, as the cremation rate hit a new peak of 57.5%. As the price of the average funeral is now to $7,848, more people are opting for less costly cremations. During the COVID-19 pandemic, funeral homes had to shift to much greater use of virtual services, and more cremations, as consumers were hesitant to organize in-person family gatherings for fear of infection. Virtual services are expected to continue post-pandemic. **Funeral industry metrics:** The average funeral home had estimated receipts of $1.05 million in 2020, and the average cemetery had revenues of $910,000. The national median cost of a funeral with a viewing and burial in 2021 was approximately $7,848, while the cost of a funeral with cremation was approximately $6,971.  **Market share:** Four large death care companies include Service Corp. Intl., Carriage Services, StoneMor Inc., and Park Lawn Corp., which had combined revenues of $5.2 billion in 2021 — good for 22% of the industry’s revenues. They are growing via acquisitions. **Major death care industry trends:** The industry is being impacted by a rising share of cremations, accelerated use of virtual services, consolidation, more environmentally conscious burials, more online competition for products such as caskets, urns, etc., stable/declining prices, greater customization and personalization of services, and an aging American population. ## Where to Learn More For more information, see the comprehensive 101-page report titled [The U.S. Funeral Homes, Cemeteries & Crematories Industry](https://www.marketresearch.com/Marketdata-Enterprises-Inc-v416/Funeral-Homes-Cemeteries-Crematories-31989646/?progid=91794) by Marketdata, a respected market research firm. This report includes key death care industry statistics and provides competitor profiles. It also explains: - Factors affecting demand - Industry size, trends, and growth - Effects of the COVID-19 pandemic --- **About the Author:**  John LaRosa is the President of [Marketdata LLC ](https://www.marketresearch.com/Marketdata-Enterprises-Inc-v416/?progid=91794)and is the author of 100+ industry and market studies. His research appears in top media outlets including ABC, CNN, Fox, *Forbes*, *USA Today*, *The Wall Street Journal*, *The New York Times*, and a variety of trade journals.  Topics: [Industry Insights](https://blog.marketresearch.com/topic/industry-insights) - [Tweet](https://twitter.com/share) [![Will Self-Driving Vehicles Be a Reality by 2025? 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