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Laundry and Dry-Cleaning Services Market Forecast to Surpass $86.59 Billion by 2030 with a CAGR of 3.2%
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Ottawa, April 25, 2023 (GLOBE NEWSWIRE) — Beyond Market Insights LLC Published a new report titled “Laundry and Dry-Cleaning Services Market Size, Share, Growth Report, by Type (Self-Service and Conventional), By End User (Residential and Commercial), By Distribution Channel (Online and Offline), and By Region – Global Industry Overview, Research, Analysis, Premium Insights, Historical Data, and Forecasts 2023 – 2030″.
The global laundry and dry-cleaning services market has been witnessing steady growth over the years. The increasing need for dry-cleaning and laundry services across various sectors, including hospitality, healthcare, and textiles, has been the primary driving factor for this growth. The market is also being driven by the rise in disposable income, urbanization, and the growing number of working professionals, which has led to an increase in demand for time-saving and convenient services. This report will provide an in-depth analysis of the dry-cleaning and laundry services market, including market dynamics, drivers, restraints, opportunities, and regional landscape.
Customers are driving the business by using dry cleaning and laundry services more frequently because they provide convenience at a low cost. Additionally, it is anticipated that higher consumer spending on these services would fuel market development throughout the projected timeframe. Everyone likes to wear clean, well-kept clothes, even if most customers dislike washing them often. Due to their busy schedules, many seek dry cleaning and laundry services to care for their dirty clothes. Laundry and dry-cleaning services are growing increasingly well-liked as trustworthy, useful, and inexpensive services since busy clients are more willing to pay for their laundry. These elements will likely increase demand for these services throughout the forecast timeframe. The world’s growing working population, more spending on clothes and cleaning services, and other factors are expected to further fuel the demand for these services throughout the projection period.
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The global laundry and dry-cleaning services market has been segmented into type, end-user, distribution channels, and region. Based on type, the market is segmented into self-service and conventional. The conventional category dominated the market in 2022. Based on end-user the market is segmented into residential and commercial consumers. The residential application category commanded a substantial market share in 2022, and this dominance is expected to persist during the projected period. Based on the distribution channel, the dry cleaning and laundry services market is split into offline and online sectors. The offline category dominated the market in 2022.
Market Dynamics:
The dry-cleaning and laundry services market is expected to witness significant growth over the next few years. The increasing need for time-saving and convenient services, coupled with rising disposable incomes, is expected to drive market growth. The rise in urbanization and the growing number of working professionals have also contributed to the growth of the market.
However, there are several factors that could restrain the market growth, including high competition from local players, increasing environmental concerns related to the use of chemicals in dry cleaning, and the lack of standardization in the industry.
Browse Complete Laundry and Dry-Cleaning Services Market Report Details and Table of Contents: https://beyondmarketinsights.com/report/laundry-and-dry-cleaning-services-market/
Drivers:
The growth of the dry-cleaning and laundry services market is being driven by several factors, including:
- Increase in disposable income: With the rise in disposable income, people are increasingly looking for time-saving and convenient services such as dry cleaning and laundry.
- A growing number of working professionals: The rise in the number of working professionals has led to an increase in demand for time-saving services, including dry cleaning and laundry.
- Urbanization: The increasing rate of urbanization has led to a rise in demand for convenient services, including dry cleaning and laundry.
- Increase in the hospitality sector: The growth of the hospitality sector has also contributed to the growth of the dry-cleaning and laundry services market.
Restraints:
The growth of the dry-cleaning and laundry services market could be restrained by several factors, including:
- High competition from local players: The market is highly competitive, with many local players offering similar services, which could restrain the growth of the market.
- Environmental concerns related to chemicals: The use of chemicals in dry cleaning has been linked to environmental concerns, which could affect the growth of the market.
- Lack of standardization: The lack of standardization in the industry could also restrain the growth of the market.
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Opportunities:
The dry-cleaning and laundry services market presents several opportunities for growth, including:
- Expansion into new markets: There is an opportunity for companies to expand their services into new markets, both domestically and internationally.
- Introduction of eco-friendly services: With increasing environmental concerns, there is an opportunity for companies to introduce eco-friendly services, which could attract environmentally-conscious consumers.
- Adoption of new technologies: The adoption of new technologies, such as automation and artificial intelligence, could improve the efficiency of dry-cleaning and laundry services, which could attract new customers and improve customer retention.
Regional Landscape:
The dry-cleaning and laundry services market is expected to witness significant growth across various regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is expected to witness the highest growth due to increasing urbanization and rising disposable income in countries such as China and India.
In 2022, Asia Pacific surpassed the Americas and is predicted to maintain its lead throughout the projected period. An increasing working population, the presence of developing economies like China and India, and rising spending on dry cleaning and laundry services are expected to boost the market throughout the forecasted period. China is expected to continue to play a vital role in the Asia Pacific area since a substantial population chooses rapid dry-cleaning and laundry services. Europe is predicted to have phenomenal growth throughout the anticipated era. An increasing labor force and an increase in disposable income are factors in the rise. It is predicted that several dry-cleaning and laundry service providers offering a wide range of services, including washing, folding, and ironing, as well as pick-up and drop-off services, will continue to substantially support the market in the area over the projected time.
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Key players in the global laundry and dry-cleaning services market include-
- Alliance Laundry Systems LLC
- Cintas Corporation
- CWS International
- Dry Harder
- DryClean USA
- Elis SA
- La Teinturerie
- Lapels Cleaners
- Martinizing Dry Cleaners
- PRESSTO
- PWS Laundry
- The Laundry House
- Top Dry Cleaners
- UniFirst Corporation
- Zoots
Recent Developments
- July 2021: Alliance Laundry Systems and Gulf States Machinery Co. have expanded their direct network infrastructure. The acquisition follows the company’s direct distribution partners’ exceptional results, demonstrating the success of the company’s selection of top-tier firms in emerging markets.
The global Laundry and Dry-Cleaning Services Market is segmented as follows:
Laundry and Dry-Cleaning Services Market by Type Outlook (Revenue, USD Million, 2017- 2030)
- Self-Service
- Conventional
Laundry and Dry-Cleaning Services Market by End User Outlook (Revenue, USD Million, 2017- 2030)
- Residential
- Commercial
Laundry and Dry-Cleaning Services Market by Distribution Channel Outlook (Revenue, USD Million, 2017- 2030)
- Online
- Offline
Laundry and Dry-Cleaning Services Market by Region Outlook (Revenue, USD Million, 2017- 2030)
- North America
- The U.S.
- Canada
- Mexico
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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DRY-CLEANING & LAUNDRY SERVICES MARKET SIZE, SHARE & TRENDS ANALYSIS REPORT
TABLE OF CONTENT
Chapter No. 1: Introduction
Chapter No. 2: Executive Summary
Chapter No. 3: COVID-19 Impact Analysis
Chapter No. 4: Laundry and Dry-Cleaning Services Market – By Type Segment Analysis
Chapter No. 5: Dry-Cleaning and Laundry Services Market – By Distribution Channel Segment Analysis
Chapter No. 6: Laundry and Dry-Cleaning Services Market – By End-user Segment Analysis
Chapter No. 7: Laundry and Dry-Cleaning Services Market – Regional Analysis
Chapter No. 8: Dry-Cleaning and Laundry Services Market – Industry Analysis
Chapter No. 9: Key Investment Pockets Analysis
Chapter No. 10: Analysis of Competitive Landscape
Chapter No. 11: Company Profiles
Chapter No. 12: Research Methodology
| Laundry and Dry-Cleaning Services Market Report Scope | |
| Report Attribute | Details |
| Market Size Value in 2022 | USD 67.30 billion |
| Revenue Forecast in 2030 | USD 86.59 billion |
| Growth Rate | CAGR of 3.2 % from 2023 to 2030 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 – 2022 |
| Forecast Years | 2023 – 2030 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2030 |
| Report Coverage | Revenue forecast, company ranking, Trends competitive landscape, and growth factors |
| Segments Covered | Type, End Users, Distribution Channel, and Region |
| Regional Scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
| Key Companies Profiled | Alliance Laundry Systems LLC, Cintas Corporation, CWS Internationa, Dry Harder, DryClean USA, Elis SA, La Teinturerie, Lapels Cleaners, Martinizing Dry Cleaners, PRESSTO, PWS Laundry, The Laundry House, Top Dry Cleaners, UniFirst Corporation, Zoots. |
| Download PDF Brochure | |
About
Beyond Market Insights LLC is a leading market research company that provides customized research reports, consulting services, and syndicated research reports. The company has a team of experienced analysts who provide accurate and reliable insights to clients. The company’s mission is to provide high-quality research reports that help clients make informed business decisions.
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