Global Coffin Market Overview:
Coffin is a funerary box used for viewing or keeping a human dead body for buried or cremation. The word coffin derived from the French word “coffin”, which means basket. These are the symbols of funeral rituals and respect paid to the dead human body. Coffins are traditionally six-sided or four-sided rectangular but it varies in countries and regions across the world. Coffins in Ghana are specially designed coffins with artwork and innovative forms like airplanes, pigs, onions, tomatoes, etc. The increasing demand for a coffin in American and European countries is expected to increase the market growth in the coming years.
Market Drivers
- Increasing Demand for Wood Coffins
- Growing Number of Death Rates
Market Trend
- Rising in Demand for Eco-Friendly Coffins
Restraints
Opportunities
- Uses of eco-friendly coffins are increasing
Challenges
- Increasing Preferences for Cremating Death Bodies
Competitive Landscape:
Some of the key players profiled in the report are Hillenbrand (United States), JC Walwyn & Sons Ltd (United Kingdom), P & L Manufacturing Ltd (United Kingdom), The London Casket Company (United Kingdom), Sinseeseng Casket Trading(Malaysia), NCH Global Sdn. Bhd. (Malaysia), GARDEN OF EDEN FUNERAL (Philippines), Jiangsu Classical Casket Co., Ltd.(China), Juson Wood Co., Limited(China), Hilltop Plus Inc (United States) and C.J. Boots Casket Company (United States). Analyst at AdvanceMarketAnalytics see North and Europe Vendors to retain maximum share of Global Coffin market by 2025. Considering Market by Size, the sub-segment i.e. 0-3 ft will boost the Coffin market. Considering Market by Material, the sub-segment i.e. Wood type will boost the Coffin market. Considering Market by Shapes, the sub-segment i.e. Hexagonal will boost the Coffin market.
In February 2018, Matthews International completed the acquisition of Star Granite & Bronze, a Georgia-based manufacturer of quality granites for USD 41.2 million. This acquisition made Matthews’ vision to be the premier full-line supplier to the death care industry and enables them to offer an expanded suite of best-in-class products and solutions to help customers meet the memorialization needs of families.
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Coffin market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Coffin market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners and Distributors, Raw Material Suppliers, Dealers, Suppliers, Traders, and Distributors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.