In the current SektorReport Consumer Goods, Retail, E-Commerce, we are focusing on a segment that is rarely in the spotlight - the funeral industry. However, it is precisely here that a fundamental structural change is currently taking place. The demographic reality in the DACH region - over 22% of the population in Germany is aged 65 or older - is leading to a steady increase in the number of deaths. In 2022, over 1.06 million deaths were registered in Germany alone - an increase of more than 20% compared to 2000. This growth in demand is making the market increasingly interesting for investors.

The traditionally highly fragmented market - almost 5,700 funeral homes in Germany, mostly family-run - is being shaken up by succession problems and a shortage of specialists. More and more providers are joining larger groups or looking for strategic partners. This is encouraging a trend towards consolidation, which is increasingly being driven by financial investors.
A clear signal of this is the acquisition of the renowned Leo Kuckelkorn Bestattungen GmbH in Cologne by the Ahorn Group in January 2025. The Ahorn Group, a subsidiary of IDEAL Lebensversicherung, is thus further expanding its nationwide presence - with four acquisitions already this year. The acquisition shows that succession solutions are increasingly being provided by established groups that combine experience with integration and professionalism.

At the same time, new business models are entering the market: companies such as Mymoria combine digital planning with regional proximity and have built up a considerable branch network with the support of venture capital. The sector is therefore evolving into a more capital-intensive, professional services market, but one that remains heavily influenced by cultural expectations and regulatory frameworks.

In this report, we analyze how consolidation, investor interest and social change are reflected in the funeral market - and which business models have a future.

In diesem Report analysieren wir, wie sich Konsoli­dierung, Investoreninteresse und gesellschaftlicher Wandel im Bestattungsmarkt konkret niederschlagen – und welche Geschäftsmodelle Zukunft haben.

Our SektorReports are available in German language. If you have further questions regarding this topic, feel free to get in touch.