NEWARK, Del, Oct. 10, 2023 (GLOBE NEWSWIRE) -- The global dry-cleaning and laundry services market reached US$ 69.3 billion in 2022. Revenue generated by the dry-cleaning and laundry services is likely to witness US$ 74.8 billion in 2023. Demand is poised to soar at 7.0% CAGR over the forecast period between 2023 and 2033. Sales are anticipated to total US$ 147 billion by 2033.
Hotels and resorts might offer laundry services as an amenity to guests. This can drive demand for outsourcing laundry operations to professional dry cleaners, as it provides convenience for both guests and the establishment. Large hotel chains and hospitality groups often establish long-term contracts with laundry service providers to ensure a consistent supply of clean textiles across their properties.
Regular and thorough cleaning of linens and uniforms is crucial for maintaining a safe environment, further boosting demand for laundry services. Tourism growth in a region directly correlates with the demand for laundry services. Destinations experiencing an uptick in tourism will likely see an increased need for laundry services to support the industry.
Gain Valuable Insights from Industry Experts to Shape Your Growth Strategies. Access our Sample Report Now: https://www.futuremarketinsights.com/reports/sample/rep-gb-17941
The competitive nature of the hospitality sector drives innovation and high service standards. Dry cleaners may need to invest in advanced equipment and technology to meet the evolving needs of their hospitality clients.
The rising e-commerce and delivery services drive the market during the forecast period. E-commerce and delivery services often require employees to wear uniforms or company-branded clothing. This can lead to a high volume of work wear that needs regular cleaning, boosting demand for laundry services.
Several e-commerce businesses deal with sensitive or specialized items, such as electronics, garments with delicate fabrics, or products with unique cleaning requirements. Dry cleaners may see increased demand for their expertise in handling these items.
E-commerce and delivery companies rely on fast operations. They might require laundry and dry-cleaning services to provide quick turnaround times to ensure that uniforms and linens are readily available for their workforce. With more people shopping online, consumers might also require dry-cleaning and laundry services for their clothing and household textiles, contributing to market growth.
E-commerce businesses and consumers are increasingly focused on sustainability. Dry cleaners that offer eco-friendly cleaning methods can attract these environmentally conscious customers. E-commerce and delivery companies might opt for uniform rental services requiring consistent cleaning and maintenance. It will help in creating a recurring revenue stream for laundry service providers.
E-commerce companies might enter into partnerships or offer promotions with local laundry services to provide added value to their customers, further driving demand for these services. E-commerce often experiences seasonal peaks, such as during holiday seasons. This can result in surges in demand for laundry and dry-cleaning services to prepare for increased shipping and fulfillment operations.
In the wake of the COVID-19 pandemic, hygiene and safety standards have become paramount. E-commerce and delivery services might prioritize clean and sanitized uniforms and linens, increasing the need for laundry services. As e-commerce companies expand into new regions or cities, they might seek local laundry partners, creating opportunities for laundry services to expand their customer base.
Request for our Comprehensive Research Methodology to Understand the Market: https://www.futuremarketinsights.com/request-report-methodology/rep-gb-17941
Key Takeaways from Dry-cleaning and Laundry Services Market Report:
- The global market for dry-cleaning and laundry services is expected to reach a valuation of US$ 147 billion by 2033.
- Over the forecast period, dry-cleaning and laundry services sales are expected to grow at a CAGR of 7.0%.
- The United States is projected to reach a valuation of US$ 25.5 billion by 2033.
- In 2033, South Korea is projected to reach a total of US$ 8 billion.
- By service, the laundry segment is estimated to expand at a CAGR of 6.8% from 2023 to 2033.
“Growth of tourism and hospitality industry is likely to drive demand for dry-cleaning and laundry service market. Key manufacturers are working on providing laundry services with eco-friendly washes. Sustainability is a key concern affecting this market, and this trend will likely influence consumer behavior through 2033.” - Opines Sneha Verghese, Senior Consultant for Consumer Goods and Products at Future Market Insights (FMI).
Competitive Landscape:
Key companies are embracing eco-friendly practices, such as using eco-friendly detergents, recycling water, and reducing energy consumption to appeal to eco-conscious consumers. To increase customer retention, they offer a broad range of services beyond traditional dry cleaning and laundry, such as tailoring, shoe repair, and garment alterations.
Key Companies in the Dry-cleaning and Laundry Services Market
- ZIPS Dry Cleaners: ZIPS provides dry cleaning services for various clothing items, including suits, dresses, and shirts. ZIPS is known for its turnaround time, often offering same-day dry cleaning services for items dropped off early.
- Alsco Pty Limited, the company offers a variety of linen and towel rental services for hotels, restaurants, and other businesses in the hospitality industry. The company offers rental and laundering services for mats, including entrance mats, anti-fatigue mats, and logo mats.
Get More Valuable Insights
FMI has released an objective global market assessment, presenting past demand data from 2018 to 2022 and projecting forecast statistics for 2023 to 2033.
Dry-cleaning and laundry services market by services (laundry, dry cleaning, and duvet cleaning), by application (residential and commercial) & region from 2023 to 2033
Scope of the Report:
| Attribute | Details | |
| Estimated Market Size (2023) | US$ 74.8 billion | |
| Projected Market Valuation (2033) | US$ 147 billion | |
| Value-based CAGR (2023 to 2033) | 7.0% | |
| Forecast Period | 2023 to 2033 | |
| Historical Data Available for | 2018 to 2022 | |
| Market Analysis | Value (US$ billion/million) and Volume (MT) | |
| Key Regions Covered | Latin America, North America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa | |
| Key Countries Covered | United States, Mexico, Brazil, Chile, Peru, Argentina, Germany, France, Italy, Spain, Canada, United Kingdom, Belgium, Nordic, Poland, Russia, Japan, South Korea, China, Netherlands, India, Thailand, Malaysia, Indonesia, Singapore, Australia, New Zealand, GCC Countries, South Africa, Central Africa, and others | |
| Key Market Segments Covered |
| |
| Key Companies Profiled |
| |
Get Instant Access to Our Detailed Report: https://www.futuremarketinsights.com/checkout/17941
About the Consumer Products Division at Future Market Insights (FMI)
FMI's consumer products team offers comprehensive business intelligence services, with a vast array of reports and data points analyzed across 50+ countries over a decade. The team provides consulting services and end-to-end research, offering expert analysis, actionable insights, and strategic recommendations to clients worldwide. Contact them to explore how they can assist with your unique business intelligence needs.
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food and beverage market reports and studies that include consumer market, retail, and manufacturer research perspectives. She has also been involved in several bulletins in food magazines and journals.
Explore FMI’s Extensive Ongoing Coverage in Consumer Product Domain:
The anticipated size of the global laundry care market in 2022 was close to US$ 98.2 billion. It is thus anticipated to have produced US$ 180.3 billion by 2023, alongside a CAGR of 5.7% from 2023 to 2033.
The laundry sanitizers market size is anticipated to grow to a valuation of US$ 37.7 million in 2023. It is expected to exhibit a compound annual growth rate (CAGR) of 3% from 2023 to 2033 to reach US$ 50.66 million in 2033.
The On-Demand Laundry Service Market will likely hold the global market at a moderate CAGR of ~30.4% during the forecast period. The global market holds a forecasted revenue of ~US$ 25.5 Billion in 2022 and is likely to cross ~US$ 362.51 Billion by the end of 2032.
Pre-treater laundry products are one of those laundry products gaining traction among its target segments. Pre-treater laundry products are primarily used in to remove the some of the toughest stains on garments.
Baby detergents & laundry product is an essential consumer good which has gained high popularity in recent years owing to increasing awareness about the availability of these products and rising concerns about the skin health of newly born babies.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
