Europe Funeral Insurance Market Size and Share 2034
Europe Funeral Insurance Market Growth, Size, Trends Analysis - By Age Group, By Distribution Channel - Regional Outlook, Competitive Strategies and Segment Forecast to 2034
| Published: Aug-2025 | Report ID: HLCA25254 | Pages: 1 - 154 | Formats*: |
| Category : Healthcare | |||
Europe Funeral Insurance Market Introduction and Overview
According to SPER Market Research, the Europe Funeral Insurance Market is estimated to reach USD 300.27 billion by 2034 with a CAGR of 7.2%.
The report includes an in-depth analysis of the Europe Funeral Insurance Market, including market size and trends, product mix, Applications, and supplier analysis.The European funeral insurance market was valued at USD 149.82 billion in 2024 and was expected to increase at a compound annual growth rate (CAGR) of 7.2% between 2025 and 2034. This anticipated growth is largely due to the aging population in numerous European nations, resulting in a heightened demand for funeral services and related insurance products. As life expectancy increases, more individuals are looking for ways to alleviate the financial strain of end-of-life expenses, which is significantly boosting interest in funeral insurance policies.
By Age Group Insights:
The over-60 age group held the largest revenue share in 2024 for funeral insurance, driven by their growing awareness of mortality and the need for financial planning for end-of-life arrangements. This demographic focuses on securing their financial future and easing the emotional and financial stress on their families. They seek personalized guidance and detailed information when looking at funeral insurance options. Meanwhile, the over-50 segment is predicted to grow rapidly from 2025 to 2034, as these individuals become more aware of funeral costs and wish to ensure peace of mind for themselves and their families. They prefer insurance policies that offer extensive coverage, including burial arrangements and grief support.
By Distribution Channel Insights:
In 2024, the direct-to-customer segment also captured a significant share of revenue. This model allows insurers to sell directly to consumers, cutting out intermediaries like brokers, which leads to better transparency and pricing. Digital platforms have made it easier for consumers to research and buy funeral insurance online, appealing to their need for convenience and accessibility. Funeral homes play a vital role by providing essential support for funerals and offering tailored insurance products. Their established client relationships allow them to present insurance options sensitively, guiding families in choosing coverage that fits their needs and finances. This personalized service improves customer satisfaction and helps clients feel more secure during difficult times.
Regional Insights:
In 2024, France's funeral insurance market held the largest share. The popularity of funeral insurance in France has surged as funeral costs continue to rise, prompting families to seek methods to lessen the financial burden during times of grief. The funeral insurance market in Spain has also experienced notable growth, fueled by an aging demographic that has escalated the demand for pre-need funeral services and insurance products. With increasing life expectancy, more individuals are pursuing financial solutions to mitigate the impact of funeral expenses on their families. This demographic transition has fostered a greater awareness of the necessity for planning for end-of-life costs, leading to a rise in funeral insurance policies that address various needs and preferences.
Market Competitive Landscape:
Prominent companies are embracing innovative technologies to optimize operations and improve customer experiences. This includes the adoption of digital platforms for policy management and claims processing. There is a growing trend of strategic partnerships and collaborations, enabling companies to expand their reach and diversify their service offerings. For example, in May 2024, BNP Paribas Cardif and Neuflize OBC began exclusive negotiations to form a strategic agreement to enhance life insurance offers in France. This alliance aims to use each other's skills and knowledge to better their positions in the life insurance industry.
Recent Developments:
In April 2024, BNP Paribas Cardif reached an agreement with Fosun Group, a Chinese investment firm, to purchase its share in Ageas, a well-known international insurance group. This acquisition aligns with BNP Paribas’s strategy to strengthen its foothold in the insurance industry and broaden its financial services portfolio.
In May 2024, BNP Paribas Cardif and Neuflize OBC commenced exclusive discussions to establish a strategic partnership centered on life insurance in France. This collaboration is designed to improve their offerings in the life insurance market by utilizing each other’s strengths and expertise.
Scope of the report:
| Report Metric | Details |
| Market size available for years | 2021-2034 |
| Base year considered | 2024 |
| Forecast period | 2025-2034 |
| Segments covered | By Age Group, By Distribution Channel |
| Regions covered | France, Germany, Italy, Spain, United Kingdom, Rest of Europe |
| Companies Covered | Allianz, AXA, Avalon Group Companies, Diaspora Insurance, Banco Santander S.A, Monuta, Co-op Funeralcare, Swiss Life AG, Mutualidad, Menzis. |
- Europe Funeral Insurance Market Size (FY 2021-FY 2034)
- Overview of Europe Funeral Insurance Market
- Segmentation of Europe Funeral Insurance Market By Age Group (Over 50, Over 60, Over 70, Over 80)
- Segmentation of Europe Funeral Insurance Market By Distribution Channel (Direct-to-Consumer, Broker-Assisted, Tied-agent Assisted, Funeral Homes, Others)
- Statistical Snap of Europe Funeral Insurance Market
- Expansion Analysis of Europe Funeral Insurance Market
- Problems and Obstacles in Europe Funeral Insurance Market
- Competitive Landscape in the Europe Funeral Insurance Market
- Details on Current Investment in Europe Funeral Insurance Market
- Competitive Analysis of Europe Funeral Insurance Market
- Prominent Players in the Europe Funeral Insurance Market
- SWOT Analysis of Europe Funeral Insurance Market
- Europe Funeral Insurance Market Future Outlook and Projections (FY 2025-FY 2034)
- Recommendations from Analyst
1. Introduction
- 1.1. Scope of the report
- 1.2. Market segment analysis
2. Research Methodology
- 2.1. Research data source
- 2.1.1. Secondary Data
- 2.1.2. Primary Data
- 2.1.3. SPERs internal database
- 2.1.4. Premium insight from KOLs
- 2.2. Market size estimation
- 2.2.1. Top-down and Bottom-up approach
- 2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
- 4.1. Driver, Restraint, Opportunity and Challenges analysis
- 4.1.1. Drivers
- 4.1.2. Restraints
- 4.1.3. Opportunities
- 4.1.4. Challenges
5. Market variable and outlook
- 5.1. SWOT Analysis
- 5.1.1. Strengths
- 5.1.2. Weaknesses
- 5.1.3. Opportunities
- 5.1.4. Threats
- 5.2. PESTEL Analysis
- 5.2.1. Political Landscape
- 5.2.2. Economic Landscape
- 5.2.3. Social Landscape
- 5.2.4. Technological Landscape
- 5.2.5. Environmental Landscape
- 5.2.6. Legal Landscape
- 5.3. PORTERs Five Forces
- 5.3.1. Bargaining power of suppliers
- 5.3.2. Bargaining power of buyers
- 5.3.3. Threat of Substitute
- 5.3.4. Threat of new entrant
- 5.3.5. Competitive rivalry
- 5.4. Heat Map Analysis
6. Competitive Landscape
- 6.1. Europe Funeral Insurance Market Manufacturing Base Distribution, Sales Area, Product Type
- 6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Europe Funeral Insurance Market
7. Europe Funeral Insurance Market, By Age Group (USD Million) 2021-2034
- 7.1. Over 50
- 7.2. Over 60
- 7.3. Over 70
- 7.4. Over 80
8. Europe Funeral Insurance Market, By Distribution Channel (USD Million) 2021-2034
- 8.1. Direct-to-Consumer
- 8.1.1. Online
- 8.1.2. Others
- 8.2. Broker-Assisted
- 8.3. Tied-agent Assisted
- 8.4. Funeral Homes
- 8.5. Others
9. Europe Funeral Insurance Market, (USD Million) 2021-2034
- 9.1. Europe Funeral Insurance Market Size and Market Share
10. Europe Funeral Insurance Market, By Region, (USD Million) 2021-2034
- 10.1. France
- 10.2. Germany
- 10.3. Italy
- 10.4. Spain
- 10.5. United Kingdom
- 10.6. Rest of Europe
11. Company Profile
- 11.1. Allianz
- 11.1.1. Company details
- 11.1.2. Financial outlook
- 11.1.3. Product summary
- 11.1.4. Recent developments
- 11.2. AXA
- 11.2.1. Company details
- 11.2.2. Financial outlook
- 11.2.3. Product summary
- 11.2.4. Recent developments
- 11.3. Avalon Group Companies
- 11.3.1. Company details
- 11.3.2. Financial outlook
- 11.3.3. Product summary
- 11.3.4. Recent developments
- 11.4. Diaspora Insurance
- 11.4.1. Company details
- 11.4.2. Financial outlook
- 11.4.3. Product summary
- 11.4.4. Recent developments
- 11.5. Banco Santander S.A
- 11.5.1. Company details
- 11.5.2. Financial outlook
- 11.5.3. Product summary
- 11.5.4. Recent developments
- 11.6. Monuta
- 11.6.1. Company details
- 11.6.2. Financial outlook
- 11.6.3. Product summary
- 11.6.4. Recent developments
- 11.7. Co-op Funeralcare
- 11.7.1. Company details
- 11.7.2. Financial outlook
- 11.7.3. Product summary
- 11.7.4. Recent developments
- 11.8. Swiss Life AG
- 11.8.1. Company details
- 11.8.2. Financial outlook
- 11.8.3. Product summary
- 11.8.4. Recent developments
- 11.9. Mutualidad
- 11.9.1. Company details
- 11.9.2. Financial outlook
- 11.9.3. Product summary
- 11.9.4. Recent developments
- 11.10. Menzis
- 11.10.1. Company details
- 11.10.2. Financial outlook
- 11.10.3. Product summary
- 11.10.4. Recent developments
- 11.10.5. Recent developments
- 11.11. Others
12. Conclusion
13. List of Abbreviations
14. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Europe Funeral Insurance Market is projected to reach USD 300.27 billion by 2034, growing at a CAGR of of 7.2% during the forecast period.
Europe Funeral Insurance Market grew in Market size from 2025. The Market is expected to reach USD 300.27 billion by 2034, at a CAGR of 7.2% during the forecast period.
Europe Funeral Insurance Market CAGR of 7.2% during the forecast period.
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Europe Funeral Insurance Market size is USD 300.27 billion from 2025 to 2034.
Europe Funeral Insurance Market is covered By Age Group, By Distribution Channel
The France, Germany, Italy, Spain, United Kingdom, Rest of Europe is the highest Market share in the Europe Funeral Insurance Market.
Allianz, AXA, Avalon Group Companies, Diaspora Insurance, Banco Santander S.A, Monuta, Co-op Funeralcare, Swiss Life AG, Mutualidad, Menzis.
The report includes an in-depth analysis of the Europe Funeral Insurance Market, including market size and trends, product mix, Applications, and supplier analysis.
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