The population in China is said to be growing older at a faster rate than almost every other country in the world. The conditions have been attributed to things like their restrictions on child baring and low mortality rate. And because of the rapidly aging population, it's posing a number of problems, like how many workers they will have in the market for every retiree.
It's expected that by 2040 for example, that they'll have 1.6 workers in the market for every one retiree, whereas now they estimate that it's about five workers for every one.
One area is seeing a lot of success in China as a consequence and that's the funeral market and it's expected to see major growth within the coming years. At the moment, when it comes to the number of individuals within China who are 60 years or older, it's estimated to be around 222 million people.
That number will grow, with estimates placing the future total at around 300 million by 2050.
The most popular burial trend at the moment is said to be cremations and eco funerals. Some of the options for “eco funerals” have been things like biodegradable urns or coffins that are made of wicker and seagrass.
When it comes to Asian funeral services, the market has been seeing steady growth and it's estimated to be pulling in roughly $62 billion every year. Compare that market to the US, which is said to have a funeral market that's around $20 billion a year; of course a much smaller population in relation.
Industry experts have said that changes are needed badly; that the market is ripe for disruption. Funeral services haven't changed that much from what you would expect them to be say 50 years ago.
There is a push for more personalized and creative, and non-religious options etc, within the funeral market globally. Eco-friendly burials aren't only growing in popularity within China, but it's also a market that is growing around the world.
There are even options of people who want to send their remains to space, or take part in a Viking burial, aside from opting for a paper or wicker coffin, or going for the bio-urn; it's no longer just the standard coffin or cremation options available. And no doubt when it comes to cremations, a major factor influencing people to take this route is because it's more cost effective than a traditional burial would be.
With eco-friendly burials, right now they are said to be the most popular options in areas like Vietnam, Malaysia, and the Philippines.
Pics:
Pixabay
Sources:
https://www.theatlantic.com/magazine/archive/2016/06/chinas-twilight-years/480768/
https://en.wikipedia.org/wiki/One-child_policy
http://www.cnbc.com/2016/09/27/analysts-are-raving-about-this-one-industry-in-china-that-has-no-overcapacity-problem.html
https://www.thestar.com/business/2017/05/19/asian-eco-funeral-market-on-the-rise.html
http://www.pbs.org/pov/homegoings/economics-of-the-funeral-industry/
https://qz.com/948857/funeral-homes-and-the-death-industry-are-undergoing-radical-shifts-toward-diy-death/
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https://steemit.com/science/@doitvoluntarily/orbiting-space-a-growing-burial-trend
Chinese spend a lot in their funeral service, but this is optional. When China economy goes down, the funeral service has pressure to stop. Government support, at least right now, is solely focusing on elderly care service. This market has been booming exponentially and won't go down as easily as funeral service.
I just want see this city :))
what city?
The first three that the biggest :) I want make street photography :) I like B&W :)
Yes, It will be interesting to see how there economy will deal with this. The funeral business will boom even if there economy shrinks a bit.
"There are even options of people who want to send their remains to space..."
Well, that's gonna be pricey
just a short trip there and back lol
a silly question but... i wonder how their family members would visit their dead ones graves (sounds pretty rude in wording but i dont know the proper words for it)
wouldnt the family members have to travel to space as well
they can visit them in their memory from wherever they are, they don't need to be going to a cemetery in order to think about their loved ones :) & i dont think they stay in space lol i think they just go for a short trip there and back...
ahhh that certainly makes sense, thanks for clarifying lol
Seems like a strange business to innovate. But then, 50 years without change in the current level of innovation in the world is like they're in the stone age...
A good eco friendly option would be the sky burial practice from the tibetans.
not familiar with that one :)
check it out
eco-friendly for sure.... 😧
Wooh!! Sending remains to space...people have too much money or they don't like mother earth
The thing is, everything's booming in China because they're inflating a massive derivatives bubble in basically every industry. It's totally insane.
bubbles everywhere!
While the Chinese population is getting older and older, the average age of the Indian population keeps decreasing so that in a matter of only a decade, India will surpass China as the most populous country in the world.
Burials seem to be getting weirder and weirder. Eco burials are one thing but sending coffins off to outer space? Takes mooning to a whole 'nother level. Great find @doitvoluntarily!
yeah it sure does lol 😆
Great information! Planned Parenthood? Just sayin..... ☆☆☆☆☆😎
I think the first photo is Taiwan ...
China and other develpoed countries have a really big problem with aging population because in some time the people who work won't be able to maintain those who don't.
I think the best solution for this would be to copy the chilean pension system, In this sistem you earn money while working and invert a bit in an investment fund for when you're old, at the start you would earn less money, but at long term it's the only viable option
I think it's only in China where we'll see funeral parlor millionaires. I've seen somewhere in the internet an idea where the dead put into a coffin with a seed of a tree of some sort and then this tree will eventually grow. One problem would be when it's already time to use those trees cause by then the relatives would think that it's their memory of their loved one. Is that also considered as eco-funeral?
bio urn is kinda like that lol :)
Oh yeah, I think that's what I saw.
It's brilliant I must say. :)
Am I the only one who just doesn't give a f*** about what happens to my body once I'm dead? I have been eating bodies of dead animals for years...so it only seems fair that once I am dead, I should be buried and allow other creatures to have a feast.
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I think this is true even in the west where there's also an ageing population.
What are your suggestions for solving this problem?