SAN FRANCISCO, May 6, 2020 /PRNewswire/ -- The global dry-cleaning & laundry services market size is anticipated to reach USD 79.91 billion by 2027, expanding at a CAGR of 3.4% over the forecast period, according to a new report by Grand View Research, Inc. Rising awareness regarding cleanliness and personal hygiene amongst the consumers is expected to escalate the growth of market in coming years.
Key suggestions from the report:
- Laundry services are projected to expand at the fastest CAGR of 3.8% over the forecast period owing to consumers' inclination towards casual clothing, hence limiting the need for dry-cleaning services for formal business clothes and other specialty clothes
- The residential application segment is projected to register the highest CAGR of 3.7% over the forecast period due to increasing number of working households demanding dry-cleaning and laundry services at economical value
- Some of the key players operating in the global market are Alliance Laundry Systems LLC; The Huntington Company; ZIPS Dry Cleaners; Alsco Pty Limited; and Rinse, Inc.
Read 80 page research report with TOC on "Dry-cleaning & Laundry Services Market Size, Share & Trends Analysis Report By Services (Laundry, Dry Cleaning, Duvet Clean), By Application, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/dry-cleaning-laundry-services-market
Dry-cleaning and laundry services provide the convenience required by the customers at an economical amount. Rapidly evolving city lifestyle appears to be a crucial factor driving the demand for such services. Working population living in the city have a busy lifestyle and they find fewer time to run their household chores. As this population consider doing laundry as a hectic and time-consuming task, they prefer opting for various laundry services. Moreover, women who are working full time to support their family are hardly getting enough time to do their laundry. They are increasingly considering dry-cleaning and laundry services as their prime option for cleaning their clothes. These factors are expected to drive the demand for these services during the forecast period.
In addition, increasing professional workers who wear business clothes, such as suits and jackets, can't be washed with traditional process and require professional cleaning to maintain their quality and lifespan. This factor is driving demand for dry-cleaning services, which is further expected to fuel the growth of market during the forecast period.
The laundry segment accounted for more than half of the share in the market in 2019. Consumers' inclination towards casual clothing, thus reducing the need for dry cleaning, is driving this segment. Moreover, frequency of washing casual or everyday clothes is higher than duvet and dry cleaning. Hence, laundry service is projected to expand at the highest CAGR over the forecast period.
Asia Pacific led the market in 2019 and will continue to enjoy its leading position during the forecast period. Growing working population, coupled with increasing spending on dry-cleaning and laundry services, is expected to propel the growth of dry-cleaning and laundry services market during the forecast period.
Grand View Research has segmented the global dry-cleaning & laundry services market based on services, application, and region:
- Dry-cleaning & Laundry Services Outlook (Revenue, USD Million, 2016 - 2027)
- Dry Cleaning
- Duvet Clean
- Dry-cleaning & Laundry Services Application Outlook (Revenue, USD Million, 2016 - 2027)
- Dry-cleaning & Laundry Services Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- New York
- U.S. (Excluding N.Y.)
- Asia Pacific
- Central & South America
- Middle East & Africa
- South Africa
Find more research reports on Homecare & Decor Industry, by Grand View Research:
- Laundry Detergent Market – The global laundry detergent market size was valued at USD 133.3 billion in 2016. The rising penetration of washing machines in the developing economies is likely to be key driver for demand over the forecast period.
- Online Laundry Service Market – The global online laundry service market size was valued at USD 13.3billion in 2018. Rising demand for convenient laundry with less investment will boost the product demand in the market.
- Laundry Detergent Pods Market – The global laundry detergent pods market size was valued at USD 9.04 billion in 2018. The product has shown a sharp growth in demand over the years owing to the convenience of measurement it offers during laundry.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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