The Global Laundry And Dry-Cleaning Services Market Was Worth USD 67.30 Billion In 2022 And Is Estimated To Grow To USD 86.59 Billion By 2030, With A CAGR Of Approximately 3.2 % Over The Forecast Period From 2023 To 2030.
Laundry and Dry-Cleaning Services Market Overview
The industry is driven by customers’ increasing use of dry cleaning and laundry services because they provide convenience at an affordable price. Additionally, increased consumer expenditure on these services is predicted to drive market expansion during the projected period. Although most customers don’t appreciate washing their laundry frequently, everyone wants to wear clean, well-kept garments. Due to their busy lifestyles, many people actively seek dry cleaning and laundry services to take care of their filthy garments. Because busy customers are increasingly prepared to pay for their laundry, dry cleaning, and laundry services are becoming more and more popular as dependable, practical, and affordable services. During the projected period, these factors are anticipated to fuel demand for these services. During the forecast period, the demand for these services is anticipated to be further fueled by the expanding working population worldwide, increased expenditure on clothing and cleaning services, and other factors.
The COVID-19 pandemic’s social impact appears to be diminishing, but it has a growing economic impact. The ripple affects the epidemic has had and will continue to have on a national and global level are unparalleled, ranging from laundry firms needing to close down to entirely ceasing shop temporarily. According to a report by Planet Laundry, the coronavirus caused a 7% decline in average gross income for laundry operators between 2019 and 2021. When Americans returned from work, it was common practice to do a short laundry at the neighborhood laundromat. The necessity to go outside and use these services has significantly decreased since working from home.
Consumers are increasingly choosing laundry facilities and dry-cleaning services as a result of technical improvements, the increased use of the internet and social media, and shifting customer demographics. While new investors are searching for a chance to create cutting-edge laundry facilities and dry-cleaning services, these changes might be intimidating for long-time operators of these businesses who are trying to stay up with the times. A significant trend in the market and a driver of business growth is the growing use of Internet services by the general consumer population. Other factors contributing to these services’ widespread popularity are their ease and comfort.
Future clothing trends, rising minimum wages, a lack of qualified labor, the limited penetration of organized laundry services in developing nations, and shifting industry laws are some of the factors that might limit the expansion of the dry-cleaning and laundry services market. Additionally, throughout the projection period, the growth of the dry cleaning and laundry services market is anticipated to be constrained by the rise in at-home washing. During the projected period, the market expansion is anticipated to be hampered by rising washing machine innovations and a decline in prices.
The global laundry and dry-cleaning services market has been segmented into type, end-user, and distribution channels.
- Residential and commercial customers comprise the two end-user segments of the dry cleaning and laundry services industry. In 2022, the residential application category held a sizable market share, and it is anticipated that it will continue to dominate over the forecast period. The expansion of the residential segment is anticipated to be fueled by an increase in the number of homes with working members worldwide, as well as increased expenditure on clothing and dry cleaning. Additionally, it is projected that customers’ preferences for professional cleaning service providers will expand throughout the projection period due to rising concerns about personal hygiene and cleanliness.
- The dry cleaning and laundry services industry is divided into offline and online segments based on the distribution channel. Because today’s consumers have busy schedules and are prepared to pay for their clothes, offline laundry services are growing in popularity as dependable, practical, and reasonably priced services. Over the projection period, the demand for these services is anticipated to be further fueled by the expanding working population, increased expenditure on clothing and cleaning services, and other factors.
- In 2022, the Asia Pacific category dominated the market driven by expanding economies like China and India, a growing working population, and increased expenditure on dry cleaning and laundry services. Due to a sizable population opting for quick dry-cleaning and laundry services, China is anticipated to continue to be a significant stakeholder in the Asia Pacific region.
Laundry and Dry-Cleaning Services Market Competitive Landscape
- Some of the main competitors dominating the global laundry and dry-cleaning services market include– 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.
- July 2021: Gulf States Machinery Co., Alliance Laundry Systems increased the size of its direct network infrastructure. The purchase follows the company’s direct distribution partners’ impressive performances, proving the effectiveness of the company’s strategy of picking excellent businesses in developing 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)
Laundry and Dry-Cleaning Services Market By End User Outlook (Revenue, USD Million, 2017- 2030)
Laundry and Dry-Cleaning Services Market By Distribution Channel Outlook (Revenue, USD Million, 2017- 2030)
Laundry and Dry-Cleaning Services Market By Region Outlook (Revenue, USD Million, 2017- 2030)
- North America
- The UK
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Laundry and Dry-Cleaning Services Market Report Scope
|Market Size Value in 2022
||USD 67.30 billion
|Revenue Forecast in 2030
||USD 86.59 billion
||CAGR of 3.2 % from 2023 to 2030
|Base Year for Estimation
||2017 – 2022
||2023 – 2030
||Revenue in USD million and CAGR from 2023 to 2030
||Revenue forecast, company ranking, Trends
competitive landscape, and growth factors
||Type, End Users, Distribution Channel, and Region
||North America; Europe; Asia Pacific; Latin America; Middle East & Africa
||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.