Global Mortuary Bag Market Outlook, Trends, and Industry Analysis
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The global mortuary care and post-mortem management landscape is a critical, yet often understated, component of the broader healthcare and civic infrastructure. At the core of this sector is the mortuary bag market. Mortuary bags, commonly referred to as body bags or cadaver pouches, are highly specialized, non-porous synthetic bags designed specifically for the dignified storage, transportation, and preservation of human and occasionally animal remains. These essential items serve a multitude of vital functions: they ensure the containment of biological fluids and odors, prevent the transmission of bloodborne pathogens and infectious diseases, and provide a secure, respectful enclosure for the deceased from the point of death to the final disposition, whether that be a funeral home, crematorium, or forensic laboratory.
Historically, the transportation of remains relied on canvas or simple cloth shrouds, which offered minimal barrier protection. The modern mortuary bag is a marvel of polymer engineering and infection control. Today’s products are manufactured using advanced flexible plastics such as Polyvinyl Chloride (PVC), Polyethylene (PE), Polyurethane (PU), and increasingly, Polyethylene-vinyl acetate (PEVA). These materials are chosen for their high tensile strength, puncture resistance, and ability to be hermetically sealed. Modern bags incorporate specialized features such as heavy-duty, fluid-tight zippers (often in a C-shape, D-shape, or envelope configuration to facilitate easy placement), reinforced woven nylon handles for safe lifting, and transparent identification tag pockets.
The industry is currently undergoing a significant material transition. With the global rise in cremation rates, traditional PVC bags are being rapidly phased out in many jurisdictions because incinerating PVC releases toxic dioxins and hydrochloric acid, which present severe environmental hazards and damage cremation equipment. Consequently, the market is aggressively pivoting toward chlorine-free, environmentally friendly alternatives like PEVA, which combust cleanly.
Market Size and Growth Projections:
• The global mortuary bag market is estimated to reach a valuation ranging from 880 million USD to 1,270 million USD in the year 2026.
• Driven by an aging global population, the expansion of hospital and forensic infrastructure in emerging economies, and increased government stockpiling for disaster and pandemic preparedness, the market is projected to expand at a steady Compound Annual Growth Rate (CAGR) ranging from 5.5% to 7.9% through the year 2031.
REGIONAL MARKET ANALYSIS
The demand and utilization of mortuary bags vary significantly across different global regions, largely dictated by healthcare infrastructure maturity, mass fatality preparedness protocols, cultural practices surrounding death, and environmental regulations.
North America
• Estimated Market Share: 35% - 40%
• Regional Trends: North America, led by the United States, represents the largest regional market for mortuary bags. This dominance is driven by a highly regulated and professionalized death care industry, stringent Occupational Safety and Health Administration (OSHA) standards regarding biohazard containment, and significant institutional spending. Following the lessons learned from recent global health crises, federal and state agencies, such as the Federal Emergency Management Agency (FEMA), have substantially increased their strategic stockpiles of mass fatality supplies, including heavy-duty mortuary bags. Furthermore, the region has a high rate of hospital-based deaths, ensuring steady baseline demand. The North American market is also leading the transition toward specialized products, such as bariatric bags designed to accommodate heavier remains, reflecting the region's demographic health trends.
Europe
• Estimated Market Share: 25% - 30%
• Regional Trends: Europe forms the second-largest market, characterized by strict regulatory frameworks and a rapidly aging population. Countries like Germany, the United Kingdom, Italy, and France are the primary consumers. The most defining trend in the European market is the aggressive push for sustainability. Guided by the stringent REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals) regulations, European mortuaries and crematoriums are increasingly mandating the use of chlorine-free, biodegradable, or PEVA-based mortuary bags. Cremation rates in parts of Europe are exceedingly high, making the clean-burning properties of these bags a strict requirement rather than an option. Furthermore, Europe's robust network of forensic institutes drives demand for high-end, tamper-evident bags used in criminal investigations.
Asia-Pacific (APAC)
• Estimated Market Share: 18% - 23%
• Estimated Growth Rate: 7% - 9% (Highest regional growth)
• Regional Trends: The Asia-Pacific region is experiencing the most rapid growth in the mortuary bag market. This surge is underpinned by massive population bases in China and India, rapid urbanization, and a paradigm shift from traditional, home-based death care to professional, hospital-based and institutionalized mortuary services. As governments in this region invest heavily in upgrading healthcare and forensic infrastructure, the baseline standard for post-mortem care is rising, mandating the use of standardized body bags. The region is also the global epicenter for the manufacturing of these products. Taiwan, China plays a vital role in the upstream and midstream supply chain, serving as a key hub for advanced polymer production, textile weaving, and the manufacturing of high-quality zipper mechanisms utilized globally. Japan, facing a severely aging demographic, represents a highly mature sub-market with a preference for high-quality, discreet, and respectful mortuary supplies.
South America
• Estimated Market Share: 6% - 9%
• Regional Trends: The South American market is growing steadily, primarily driven by improving healthcare systems in countries like Brazil, Argentina, and Colombia. Urban centers are adopting Western standards of hospital care, which includes strict post-mortem protocols. Unfortunately, elevated rates of violent crime and civil unrest in certain specific locales within the region also necessitate the procurement of heavy-duty forensic mortuary bags by law enforcement and national health ministries. Economic volatility can sometimes impact bulk government procurement, but the baseline clinical demand remains resilient.
Middle East and Africa (MEA)
• Estimated Market Share: 4% - 7%
• Regional Trends: The MEA region is a developing market with highly polarized demand. In the wealthy Gulf Cooperation Council (GCC) countries, state-of-the-art hospitals demand premium mortuary supplies. Conversely, in broader parts of Africa, the market is heavily driven by humanitarian aid, non-governmental organizations (NGOs), and organizations like the Red Cross and the World Health Organization (WHO). These entities procure mortuary bags in massive bulk quantities to manage outbreaks of highly infectious diseases (such as Ebola or cholera) and natural disasters, prioritizing heavy-duty, highly secure containment to prevent community transmission of pathogens.
MARKET SEGMENTATION: TYPE
By Type (End-User and Setting)
• Hospital: This segment constitutes a massive portion of the market volume. Hospitals require a continuous supply of mortuary bags for the immediate post-mortem handling of deceased patients. Bags used in this setting are typically designed for short-term use, facilitating the safe, dignified, and hygienic transfer of the deceased from patient wards to the hospital morgue, and subsequently to a funeral director. The primary focus here is on infection control, preventing the leakage of bodily fluids, and complying with stringent hospital biohazard protocols. These bags are often light-to-medium duty, as they are not typically used for long-term storage or rugged outdoor transport. The COVID-19 pandemic permanently elevated the baseline inventory requirements for hospitals, shifting procurement strategies from just-in-time delivery to robust stockpiling.
• Morgue: The morgue segment—encompassing both hospital-attached morgues, independent forensic institutes, and medical examiner offices—demands highly specialized, heavy-duty products. Bags used in this environment must withstand long-term refrigerated or frozen storage without the polymer cracking or degrading. For forensic applications, the bags must maintain chain-of-custody integrity; therefore, they often feature tamper-evident zipper ties, clear documentation pouches, and robust construction to ensure no biological evidence is lost or contaminated during transport from a crime scene. Furthermore, morgues frequently utilize bags with multiple reinforced handles (often up to eight) to facilitate safe lifting by automated hoists or multiple personnel.
• Others: This broad segment encompasses Funeral Homes, Emergency Medical Services (EMS), Military, and Disaster Response Organizations.
• Funeral homes utilize bags for retrieving remains from residential locations, prioritizing aesthetics, discretion, and ease of use.
• The military and disaster response sectors require the most ruggedized products on the market. These "disaster pouches" must withstand extreme environmental conditions, abrasion from rough terrain, and rapid deployment during mass casualty incidents (earthquakes, tsunamis, conflicts).
• This segment also includes specialty variations such as infant/pediatric bags and highly reinforced bariatric bags designed for excessive weight capacities.
INDUSTRY CHAIN AND VALUE CHAIN STRUCTURE
The mortuary bag market relies on a specialized, linear industry chain deeply rooted in the petrochemical and plastics manufacturing sectors.
Upstream Sector
The upstream involves the sourcing and refinement of raw materials. The primary inputs are petrochemical derivatives used to create polymer resins, notably PVC, Polyethylene (PE), and PEVA. The quality of these resins dictates the final product's tensile strength, flexibility at low temperatures (crucial for refrigeration), and barrier properties. Other critical upstream components include the manufacturing of heavy-duty nylon or polyester webbing for handles, high-strength industrial threads, and specialized zippers (often rust-proof nylon or heavy-duty metal). The cost structure of the entire market is heavily influenced by the upstream volatility of global crude oil and natural gas prices, which directly impact polymer costs.
Midstream Sector
The midstream encompasses the actual manufacturing and assembly of the mortuary bags. This is where specialized production techniques are employed. Because a mortuary bag must be entirely leak-proof to contain biohazards, traditional needle-and-thread stitching is insufficient for the main seams. Manufacturers utilize Radio Frequency (RF) welding or ultrasonic heat sealing. These processes melt the plastic layers together at a molecular level, creating a continuous, impenetrable bond. Midstream players must also adhere to strict quality control standards, batch-testing bags for burst strength, zipper sheer strength, and fluid retention. The midstream is characterized by a mix of specialized mortuary equipment manufacturers and large-scale industrial plastics fabricators who dedicate a portion of their production lines to medical/mortuary products.
Downstream Sector
The downstream sector consists of the distribution and procurement channels. This includes medical supply distributors, specialized funeral home supply catalogs, and direct-to-government sales. Procurement is often done via long-term, high-volume contracts. The end-users—hospitals, mortuaries, medical examiners, and NGOs—dictate the demand based on mortality rates, epidemiological factors, and institutional protocols.
Value Chain Analysis
Value creation in this market is increasingly shifting away from basic raw material processing toward material innovation and compliance. Manufacturers who invest in R&D to produce cost-effective, high-strength PEVA bags that meet stringent environmental cremation standards capture a premium in the market. Furthermore, value is generated through strategic logistics and supply chain reliability. During crises, the ability to rapidly surge production and deliver thousands of units to a specific geographic location provides a massive competitive advantage. Brand reputation for reliability (i.e., a bag that will absolutely not tear or leak under stress) is a critical value driver, as product failure in this specific industry results in severe psychological distress for families and severe biohazard risks for workers.
KEY MARKET PLAYERS
The global mortuary bag market is highly fragmented, populated by dedicated death-care equipment specialists, diversified medical supply companies, and industrial plastic manufacturers.
• Mortech Manufacturing: A highly respected, legacy player in the United States, Mortech specializes in a comprehensive range of post-mortem equipment, from autopsy tables to mortuary refrigeration. Their mortuary bags are considered medical-grade and are heavily utilized by state medical examiners and forensic laboratories. Their deep integration into the overall morgue infrastructure makes them a preferred vendor for newly constructed or renovated pathology departments.
• Flexmort: A highly innovative company based in the United Kingdom, Flexmort is globally renowned for its modern approach to deceased management. While they manufacture high-quality traditional bags, they are particularly famous for their mass fatality and cooling solutions. Their bags are often integrated with their proprietary mobile cooling systems, providing flexible, scalable solutions for hospitals facing sudden capacity issues or disaster response teams in the field.
• Isofroid: A prominent French manufacturer specializing in cold chain and mortuary equipment. Isofroid provides a robust catalog of cadaver bags tailored heavily to the stringent requirements of the European market. Their product lines emphasize durability, cold-temperature resistance (essential for long-term storage in their refrigeration units), and compliance with European bio-safety standards.
• Vezzani Group: A major European player with a strong foothold in the funeral and mortuary supplies sector. Vezzani offers a wide array of consumables, including a diverse range of mortuary bags. They are known for providing extensive options in terms of materials (including eco-friendly variants), zipper configurations, and sizes, catering specifically to the nuanced needs of European funeral directors and municipal morgues.
• Mopec: One of the largest and most prominent American manufacturers of pathology, anatomy, and mortuary equipment. Mopec provides an extensive line of body bags ranging from lightweight transport pouches to ultra-heavy-duty disaster bags. Their massive distribution network and strong relationships with major North American hospital networks and academic medical centers solidify their position as a market leader.
• Peerless Plastics: Operating as a specialized plastics and polymer manufacturer, Peerless Plastics represents the industrial side of the market. They leverage their expertise in flexible PVC and PEVA manufacturing to produce high-volume, cost-effective mortuary bags. Their strength lies in manufacturing efficiency and the ability to fulfill massive bulk orders for government agencies and large medical distributors.
• Classic Plastics Corporation: A well-established US-based manufacturer known specifically for mortuary garments and body bags. Classic Plastics has built a strong brand reputation within the funeral directing community by providing reliable, high-quality products. They are noted for their proprietary material blends that reduce odors and their focus on providing dignified, visually respectful containment solutions for funeral homes.
• Auden Funeral Supplies Limited: Based in the UK, Auden is a premier supplier to the funeral profession. Their approach to the mortuary bag market is highly customer-centric, focusing on the specific ergonomic and aesthetic needs of funeral directors. They provide bags that prioritize ease of handling, discreet appearance, and compatibility with standard mortuary stretchers and refrigeration trays used throughout the UK.
• SmartChoice Funeral Supplies: A dynamic company focused on providing a comprehensive suite of consumables directly to funeral homes. They compete by offering highly competitive pricing, rapid shipping, and a streamlined ordering process for essential items like body bags. Their product portfolio is tailored to the day-to-day operational needs of independent funeral directors, ensuring reliable stock of various sizes and material types.
OPPORTUNITIES AND CHALLENGES
Market Opportunities
• The Green Transition to Eco-Friendly Materials: The most significant opportunity lies in the rapid development and commercialization of environmentally friendly mortuary bags. As municipal governments globally crack down on emissions from crematoriums, the demand for bags made from PEVA, specialized biodegradable plastics, or woven organic materials that emit zero toxic gases upon incineration is skyrocketing. Manufacturers leading this green transition will capture massive market share in Europe and North America.
• Institutional Pandemic and Mass Fatality Stockpiling: The COVID-19 pandemic exposed severe vulnerabilities in global supply chains for mortuary supplies. Consequently, governments, federal agencies (like FEMA), and large hospital networks are now legislatively mandated or strategically driven to maintain massive, rotating stockpiles of mortuary bags. This guarantees a baseline of large-scale, recurring procurement contracts independent of the immediate death rate.
• Advancements in Odor and Pathogen Containment: There is a growing opportunity for technological innovation within the bags themselves. The integration of advanced antimicrobial linings, proprietary odor-absorbing carbon layers, and enhanced hermetic zipper technologies provides a premium product tier for high-end forensic and long-term storage applications.
Market Challenges
• Raw Material Cost Volatility: Because the vast majority of mortuary bags are derived from petrochemicals, manufacturers are highly exposed to the extreme volatility of global oil and gas markets. Sudden spikes in resin costs can severely compress profit margins, especially since many government and hospital contracts are negotiated at fixed prices years in advance.
• Environmental Pushback Against Single-Use Plastics: While the industry is shifting away from PVC, the reality remains that mortuary bags are fundamentally large, single-use plastics. The broader global regulatory war on single-use plastics poses a long-term challenge. Manufacturers must constantly adapt to evolving environmental legislation without compromising the structural integrity and biohazard containment properties required of the product.
• Ethical and Psychological Stigma in Marketing: The mortuary bag market operates under a unique psychological constraint. Marketing and brand promotion must be handled with extreme sensitivity and discretion. Aggressive sales tactics or insensitive public branding can cause severe reputational damage. Building a brand relies heavily on quiet reliability, B2B relationships, and strict adherence to dignity and respect for the deceased.
1.1 Study Scope 1
1.2 Research Methodology 2
1.2.1 Data Sources 3
1.2.2 Assumptions 5
1.3 Abbreviations and Acronyms 6
Chapter 2 Global Market Executive Summary 7
2.1 Global Mortuary Bag Market Size (USD Million) and Growth Rate (2021-2031) 7
2.2 Global Mortuary Bag Market Volume (K Units) and Consumption Trends 9
2.3 Market Segmentation by Type (Hospital, Morgue, Others) 11
2.4 Regional Market Performance Overview 13
2.5 Global Market Concentration and Competition Summary 15
Chapter 3 Market Dynamics and Industry Trends 17
3.1 Primary Growth Drivers: Rising Healthcare Infrastructure and Disaster Management 17
3.2 Market Restraints: Environmental Concerns regarding Non-Biodegradable Plastics 19
3.3 Industry Opportunities: Development of Bio-based and Degradable Bags 21
3.4 Technological Trends: Leak-proof Zippers and Heavy-duty Material Innovations 23
3.5 Porter’s Five Forces Analysis 25
Chapter 4 Manufacturing Process and Material Analysis 28
4.1 Raw Material Sourcing: PVC, PEVA, and Polyester Fiber 28
4.2 Manufacturing Technology: Heat-sealing and Electronic Welding 30
4.3 Quality Standards and Certification (ISO 9001, OSHA Compliance) 33
4.4 Packaging and Sterilization Procedures 35
Chapter 5 Global Mortuary Bag Market by Type 38
5.1 Market Size and Volume Forecast by Type (2021-2031) 38
5.2 Hospital Use Mortuary Bags 40
5.3 Morgue Use Mortuary Bags 43
5.4 Others (Disaster Management, Forensic, Military) 46
Chapter 6 Global Mortuary Bag Market by Region 49
6.1 North America (USA, Canada) 49
6.2 Europe (Germany, UK, France, Italy, Spain, Benelux) 52
6.3 Asia-Pacific (China, Japan, South Korea, India, SE Asia, Taiwan (China)) 55
6.4 Latin America (Brazil, Mexico) 58
6.5 Middle East and Africa (Saudi Arabia, UAE, South Africa) 61
Chapter 7 Supply Chain and Value Chain Analysis 64
7.1 Upstream Polymer and Accessory Suppliers 64
7.2 Midstream Manufacturing and Assembly Operational Analysis 66
7.3 Downstream Distribution: Funeral Homes, Hospitals, and GPOs 68
7.4 Value Chain Profitability Analysis 70
Chapter 8 Global Competition and Market Share Analysis 72
8.1 Global Market Share Analysis by Key Players (2021-2026) 72
8.2 Global Market Concentration Ratio and Ranking 74
8.3 Strategic Benchmarking of Top Manufacturers 76
Chapter 9 Import and Export Analysis 78
9.1 Major Exporting Regions and Key Producing Countries 78
9.2 Major Importing Regions and Consumption Centers 80
9.3 Trade Policies and Tariff Impacts 82
Chapter 10 Key Company Profiles 84
10.1 Mortech Manufacturing 84
10.1.1 Company Introduction 84
10.1.2 SWOT Analysis 85
10.1.3 Mortech Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 86
10.2 Flexmort 87
10.2.1 Company Introduction 87
10.2.2 SWOT Analysis 88
10.2.3 Specialized Cooling and Storage Integration 89
10.2.4 Flexmort Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 90
10.3 Isofroid 91
10.3.1 Company Introduction 91
10.3.2 SWOT Analysis 92
10.3.3 Isofroid Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 93
10.4 Vezzani Group 94
10.4.1 Company Introduction 94
10.4.2 SWOT Analysis 95
10.4.3 European Market Distribution Strategy 96
10.4.4 Vezzani Group Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 98
10.5 Mopec 99
10.5.1 Company Introduction 99
10.5.2 SWOT Analysis 100
10.5.3 R&D Investment in Heavy-duty Cadaver Bags 101
10.5.4 Mopec Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 102
10.6 Peerless Plastics 103
10.6.1 Company Introduction 103
10.6.2 SWOT Analysis 104
10.6.3 Peerless Plastics Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 105
10.7 Classic Plastics Corporation 106
10.7.1 Company Introduction 106
10.7.2 SWOT Analysis 107
10.7.3 Classic Plastics Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 109
10.8 Auden Funeral Supplies Limited 110
11.8.1 Company Introduction 110
10.8.2 SWOT Analysis 111
10.8.3 Auden Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 112
10.9 SmartChoice Funeral Supplies 113
10.9.1 Company Introduction 113
10.9.2 SWOT Analysis 114
10.9.3 Marketing and Direct-to-Funeral-Home Strategy 115
10.9.4 SmartChoice Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 116
Chapter 11 Future Forecast and Strategic Recommendations 117
11.1 Global Market Size and Volume Forecast (2027-2031) 117
11.2 Growth Opportunities by Segment and Emerging Region 119
11.3 Strategic Recommendations for Manufacturers and Distributors 121
Table 2. Global Mortuary Bag Market Volume by Type (K Units) 2021-2031 39
Table 3. Mortuary Bag Market Revenue in Key Countries (USD Million) 2021-2031 63
Table 4. Mortech Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 86
Table 5. Flexmort Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 90
Table 6. Isofroid Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 93
Table 7. Vezzani Group Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 98
Table 8. Mopec Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 102
Table 9. Peerless Plastics Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 105
Table 10. Classic Plastics Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 109
Table 11. Auden Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 112
Table 12. SmartChoice Mortuary Bag Sales, Price, Cost and Gross Profit Margin (2021-2026) 116
Table 13. Global Export Volume Analysis of Mortuary Bag by Region (2021-2026) 79
Table 14. Global Import Value Analysis of Mortuary Bag by Region (2021-2026) 81
Table 15. Key Raw Material Prices for Mortuary Bag Production (USD/MT) 29
Table 16. Global Top 5 Mortuary Bag Players Ranking and Positioning 75
Table 17. Trade Barriers and Duty Rates for Medical Grade Plastics by Region 83
Table 18. Summary of Key Regulatory Certifications by Manufacturer 34
Table 19. Forecasted CAGR for Global Mortuary Bag Market by Segment (2027-2031) 118
Table 20. Projected Global Mortuary Bag Sales Revenue by Region (2027-2031) 119
Figure 1. Global Mortuary Bag Market Size (USD Million) 2021-2031 8
Figure 2. Global Mortuary Bag Market Volume (K Units) 2021-2031 10
Figure 3. Global Market Share of Mortuary Bag by Type in 2026 12
Figure 4. North America Mortuary Bag Market Revenue (USD Million) 2021-2031 50
Figure 5. Europe Mortuary Bag Market Revenue (USD Million) 2021-2031 53
Figure 6. Asia-Pacific Mortuary Bag Market Revenue (USD Million) 2021-2031 56
Figure 7. Global Market Share of Mortuary Bag by Key Players in 2026 73
Figure 8. Mortech Mortuary Bag Market Share (2021-2026) 86
Figure 9. Flexmort Mortuary Bag Market Share (2021-2026) 90
Figure 10. Isofroid Mortuary Bag Market Share (2021-2026) 93
Figure 11. Vezzani Group Mortuary Bag Market Share (2021-2026) 98
Figure 12. Mopec Mortuary Bag Market Share (2021-2026) 102
Figure 13. Peerless Plastics Mortuary Bag Market Share (2021-2026) 105
Figure 14. Classic Plastics Mortuary Bag Market Share (2021-2026) 109
Figure 15. Auden Mortuary Bag Market Share (2021-2026) 112
Figure 16. SmartChoice Mortuary Bag Market Share (2021-2026) 116
Figure 17. Forecast of Global Mortuary Bag Consumption Volume (Units) 2027-2031 118
Figure 18. Growth Rate Forecast of Mortuary Bags in Asia-Pacific 2027-2031 120
Figure 19. Global Export Value Trends for Mortuary Bags 2021-2026 79
Figure 20. Supply Chain Map of Global Mortuary Bag Industry 65
Research Methodology
- Market Estimated Methodology:
Bottom-up & top-down approach, supply & demand approach are the most important method which is used by HDIN Research to estimate the market size.

1)Top-down & Bottom-up Approach
Top-down approach uses a general market size figure and determines the percentage that the objective market represents.

Bottom-up approach size the objective market by collecting the sub-segment information.

2)Supply & Demand Approach
Supply approach is based on assessments of the size of each competitor supplying the objective market.
Demand approach combine end-user data within a market to estimate the objective market size. It is sometimes referred to as bottom-up approach.

- Forecasting Methodology
- Numerous factors impacting the market trend are considered for forecast model:
- New technology and application in the future;
- New project planned/under contraction;
- Global and regional underlying economic growth;
- Threatens of substitute products;
- Industry expert opinion;
- Policy and Society implication.
- Analysis Tools
1)PEST Analysis
PEST Analysis is a simple and widely used tool that helps our client analyze the Political, Economic, Socio-Cultural, and Technological changes in their business environment.

- Benefits of a PEST analysis:
- It helps you to spot business opportunities, and it gives you advanced warning of significant threats.
- It reveals the direction of change within your business environment. This helps you shape what you’re doing, so that you work with change, rather than against it.
- It helps you avoid starting projects that are likely to fail, for reasons beyond your control.
- It can help you break free of unconscious assumptions when you enter a new country, region, or market; because it helps you develop an objective view of this new environment.
2)Porter’s Five Force Model Analysis
The Porter’s Five Force Model is a tool that can be used to analyze the opportunities and overall competitive advantage. The five forces that can assist in determining the competitive intensity and potential attractiveness within a specific area.
- Threat of New Entrants: Profitable industries that yield high returns will attract new firms.
- Threat of Substitutes: A substitute product uses a different technology to try to solve the same economic need.
- Bargaining Power of Customers: the ability of customers to put the firm under pressure, which also affects the customer's sensitivity to price changes.
- Bargaining Power of Suppliers: Suppliers of raw materials, components, labor, and services (such as expertise) to the firm can be a source of power over the firm when there are few substitutes.
- Competitive Rivalry: For most industries the intensity of competitive rivalry is the major determinant of the competitiveness of the industry.

3)Value Chain Analysis
Value chain analysis is a tool to identify activities, within and around the firm and relating these activities to an assessment of competitive strength. Value chain can be analyzed by primary activities and supportive activities. Primary activities include: inbound logistics, operations, outbound logistics, marketing & sales, service. Support activities include: technology development, human resource management, management, finance, legal, planning.

4)SWOT Analysis
SWOT analysis is a tool used to evaluate a company's competitive position by identifying its strengths, weaknesses, opportunities and threats. The strengths and weakness is the inner factor; the opportunities and threats are the external factor. By analyzing the inner and external factors, the analysis can provide the detail information of the position of a player and the characteristics of the industry.

- Strengths describe what the player excels at and separates it from the competition
- Weaknesses stop the player from performing at its optimum level.
- Opportunities refer to favorable external factors that the player can use to give it a competitive advantage.
- Threats refer to factors that have the potential to harm the player.
- Data Sources
| Primary Sources | Secondary Sources |
|---|---|
| Face to face/Phone Interviews with market participants, such as: Manufactures; Distributors; End-users; Experts. Online Survey |
Government/International Organization Data: Annual Report/Presentation/Fact Book Internet Source Information Industry Association Data Free/Purchased Database Market Research Report Book/Journal/News |