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Australia funeral services market revenue driven by an ageing population and increase in population numbers
Funeral and Related Services in Australia: ISIC 9303 - a new market research report on 2014-04-02 07:23:02
Due to the ageing and increase of Australia´s population, the industry for funeral services in the country grew 11% annually on average throughout the review period. In 2010, the reviewed market reached over A$1.4 billion.
Due to the specifics of the services provided, the majority of customers are households, which accounted for 91% value share of the total demand in 2010. Since 2000, household expenditure in the market grew net 167%. Business purchases also grew remarkably. In the review period B2B purchases grew net 241% with 13% average annual growth.
The reviewed market is thus growing faster than the overall country´s economy and is in a growth phase. The growing population of Australia throughout the review period suggests that demand will increase further in future. The turnover of local service providers expanded in line with that of the total market at 11% annually throughout 2000-2010, mainly due to local nature of the services provided.
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