The funeral market - Spain

As of 2020, the global funeral market has experienced a notable surge in demand, primarily due to the COVID-19 pandemic, which led to a significant increase in mortality rates. This trend caused a stark upturn in funeral services, with Spain witnessing a 17.7% increase in deaths in 2020 compared to the previous year and its funeral sector reaching a turnover of 1,700 million euros. The aging population in Spain, with seniors aged 65 or over making up 20.1% of the national populace, is leading to a projected increase in deaths, estimated to grow annually by 0.4% to 1.2% over the next 20 years.

Consequently, the funeral services market in Spain is evolving, with a noticeable shift toward cremation, which now accounts for around 44.9% of funeral services, and a growing preference for digital and sustainable funeral options. There is also a high prevalence of funeral insurance in Spain, with over 46% of the population covered, indicating a unique market trend within the country. Regional legislation varies, with calls for national legislation to streamline the sector’s operations. The sector is dominated by significant players like Mémora, Albia, Funespaña, and Servisa, and employs over 12,000 people across approximately 1,100 companies.

Understanding the Spanish Funeral Services Market

The Spanish funeral services market has been distinctive, reflecting the unique cultural, demographic, and regulatory settings of the country. From an overview of the prevailing trends, it's evident that an aging population, coupled with an increase in secular ceremonies and environmental concerns, is shaping the market's future. Spain's senior citizenry, counting over 9.5 million - constituting more than 20 percent of the total population - paints a picture of a market with increasing future demand. Given the growing life expectancy, currently standing around the mid-80s, the country is set to witness a higher number of deaths, projected to rise between 0.4 and 1.2 percent every year for the next twenty years. By the end of this decade, the toll is predicted to cross 470 thousand, while by 2060, an estimated 650 thousand deaths are expected. In 2021, the number fell to roughly 450 thousand, closer to pre-pandemic figures.

A trend gaining momentum is the preference for cremations over traditional burials. Interestingly, the discrepancy between city and rural dwelling is stark, with urban areas exhibiting higher rates. Digital transformation has been sweeping across the sector, with a significant portion of the population manifesting a readiness to contract funeral services online. Additionally, a robust shift towards sustainable and environmentally friendly funeral services is notable, with the majority of citizens favoring 'green' funerals and nearly 40 percent willing to pay extra for such services. Secular ceremonies are experiencing a rise, presently accounting for 12 percent, possibly impacted by the pandemic restrictions on gatherings. This inclination towards non-religious services encapsulates the broader societal shift towards secularism, particularly pronounced in larger urban locales. Furthermore, insurance covering funeral expenses is a standout feature of the Spanish market. In conclusion, the Spanish funeral services market is on a trajectory shaped by an aging demographic, technological advancements, shifting societal norms, and a pronounced predilection for pre-emptive.

Major Players in the Spanish Funeral Market

Within the intricate and deeply regulated landscape of Spain’s funeral sector, several key players have distinguished themselves through their notable presence and impact. These major players not only reflect the trends and demands within the market, but also help to shape the future of funeral services in the country. Below is an overview of these influential companies and their unique contributions to the industry.

• Mémora : With the backing of the Canadian pension fund Ontario Teachers Pension Fund (OTPP), Mémora secures a significant position within the Spanish and Portuguese markets. Their dedication to providing comprehensive funeral services is evident in their extensive facilities, which include a large number of mortuaries, crematoria, and cemeteries. Their workforce too mirrors their expansive reach, with around 1,400 employees dedicated to facilitating the final journey.
• Albia: Operating under the umbrella of Santalucía – a leading name in funeral insurance – Albia represents a convergence of assurance and funeral service provision. Their geographical footprint is notable with a multitude of mortuaries, crematoria and cemeteries across the country. Albia stands as a testament to Santalucía’s commitment to the funeral business and serves the needs of numerous families during their time of mourning.
• Funespaña: As a subsidiary of Mapfre – Spain's paramount insurer and a notable third in the funeral industry stake – Funespaña exhibits strength both in terms of services offered and breadth of facilities. Its growth and reach are reflected in the numerous services provided, the substantial employee base, and the well-spread network of mortuaries, crematoria, and cemeteries.
• Servisa: With Ocaso at its helm – holding the position as the second largest funeral insurer in Spain – Servisa echoes the strength and reliability of its parent company. Its solid performance within the sector is indicated by a robust number of funeral homes, impressive turnover figures, and a workforce that’s dedicated to honoring the deceased.

These companies play pivotal roles in shaping the funeral services market in Spain. From committing to eco-friendly practices to embracing digital innovations that cater to contemporary needs, they not only respond to the expectations of the society but also take active part in crafting the future landscape of funeral services in the country. With their influence and response to market trends, these market leaders continue to redefine how funeral services are perceived and delivered in Spain.

Inforamtion

• Number of pages : ~ 40 pages
• Format : Digital and PDF versions
• Last update : 04/05/2023

Summary and extracts

List of charts presented in this market study

• Worldwide funeral market sales
• Growth forecasts for the funeral industry
• Market size of funeral services in Spain
• Number of deaths per month
• Senior population
• Evolution of life expectancy in Spain
• Change in the population over 65
• Evolution of the number of deaths
• Distribution of the number of deaths by sex
• Incineration vs. burial
• Secular versus religious ceremonies
• Incineration rates in different European countries
• Evolution of the number of people with death insurance
• Jobs by gender
• Distribution of companies by turnover
• Evolution of the number of jobs in the funeral sector
• Cemeteries, crematoria and funeral homes
• Capacity and demand for crematoria and undertakers
• Funeral Service Evaluation
• Breakdown of costs for a funeral service
• Prices for burials and cremations in different cities