Industry Analysis & Industry Trends
The financial performance of the Funeral Directors, Crematoria and Cemeteries industry is strongly influenced by the number of deaths in Australia each year. This statistic has remained relatively stable over the past five years as medical advances, higher living standards and improved attitudes to health have helped lift life expectancy and, in many cases, prolonged life. Industry revenue growth has also been restricted by the increasing proportion of cremations compared with burials, as cremations generally involve lower revenue per service. Economic uncertainty following the financial crisis has led to many consumers demanding cheaper, low-margin services. IBISWorld forecasts industry revenue will grow by 1.3% in 2012-13, to $991.2 million... purchase to read more
Industry Report - Industry Key Buyers Chapter
IBISWorld estimates that the four largest operators in the industry account for 39% of total industry revenue in 2012-13. However, InvoCare, the industry's dominant player, accounts for an estimated 35.1% of the industry's revenue on its own; this percentage has grown over the past five years as it has made a number of large acquisitions. The Australian Competition and Consumer Commission (ACCC) forced InvoCare to sell a Sydney funeral director and a Brisbane crematorium when it purchased Bledisloe Holdings in 2011. Any future consolidation will be closely watched by the ACCC.
Aside from InvoCare, the industry is highly fragmented and has a very low level of concentration. The majority of operators in the industry are small operators and many of them are family run businesses... purchase to read more