New York, July 25, 2022 (GLOBE NEWSWIRE) -- The Insight Partners has published a new research report titled Global Cloth Drying Products Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Rotary Dryer, Wall-Mounted Dryer, and Drying Rack), Distribution Channel (Supermarket and Hypermarkets, Specialty Stores, Online Retail, and Others), and Geography. The cloth drying products market is expanding at a steady pace, especially in developing countries. Increasing urbanization, migration to cities leading to small apartment habitats, climate changes, and the growing demand for convenience products have significantly contributed to the market. The product innovations, such as smart cloth drying products, which can be attached to the ceiling, have further aided the market.
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Cloth Drying Products Market - Strategic Insights
| Report Coverage | Details |
| Market Size Value in | US$ 3.7 Billion in 2022 |
| Market Size Value by | US$ 4.91 Billion by 2028 |
| Growth rate | CAGR of 4.8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 140 |
| No. Tables | 58 |
| No. of Charts & Figures | 72 |
| Historical data available | Yes |
| Segments covered | Product Type, and Distribution Channel |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Cloth Drying Products Market: Competitive Landscape and Key Developments
Addis Housewares Ltd.; Brabantia Branding B.V.; Honey-Can-Do International LLC; Freudenberg Home and Cleaning Solutions GmbH; INTER IKEA SYSTEMS BV; JOMOO KITCHEN & BATH CO., LTD.; Julu Ltd.; RACKBUDDY; Vale Mill (Rochdale) Ltd.; Juwel; and Leifheit AG are the prominent players operating in the global cloth drying products market.
In 2021, North America accounted for the largest share of the global cloth drying products market. The market in Asia Pacific is expected to grow at the highest rate during the forecast period. The US is one of the world's leading consumers of cloth drying products. According to the US Association of Home Appliance Manufacturers, there are more than 90 million clothes dryers in the US. Moreover, the rising number of double-income households in the country is also driving the demand for bathroom and bedroom fitted cloth drying products, which is further expected to boost the cloth drying products market over the forecast period.
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The awareness regarding the benefits of line drying laundry is increasing among consumers worldwide. Therefore, consumers are increasingly preferring clothesline dryers over expensive tumble dryers. Clothesline dryers come in a variety of types. They are portable, wall-mounted, and rotatable. Their height can also be adjusted according to consumer requirements, making them highly convenient and easy to use. Clothesline dryers are generally made of anticorrosive metal, appropriate for different weather conditions. Clothesline dryers are foldable, making them easier to store. The rising awareness of the benefits of line drying over machine drying or tumble drying is driving the growth of the cloth drying products market.
Based on product type, the global cloth drying products market is segmented into rotary dryer, wall-mounted dryer, and drying rack. In 2021, the drying rack segment accounted for the largest revenue share while wall-mounted dryer is expected to account for the highest growth rate over the forecast period. Based on the distribution channel, the global cloth drying products market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2021, the supermarkets and hypermarkets segment accounted for the largest revenue share and is expected to account for the highest growth rate over forecast period.
The market for cloth drying products is witnessing high demand due to increasing urbanization and the increased number of ergonomically designed products available in the market. As people have started adopting compact habitats, such as studio apartments, the demand for compressible products has also increased. Cloth drying products, such as drying racks and wall-mounted dryers, are foldable and, thus, beneficial to use without consuming too much space.
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Cloth drying product manufacturers are constantly innovating to meet endlessly evolving consumer trends. They are launching technologically advanced products to attract tech-savvy consumers. For instance, in April 2020, Xiaomi, one of the leading technology groups in Hong Kong, launched a new line of retractable clothesline dryers, named Xiaomi Mijia Smart Clothes Dryer, with voice assistance, automated deployment, and integrated LED lights. These retractable dryers can sustain a weight of 35 kg of wet clothes. The product uses voice assistant technology by which consumers can adjust the height of the clothesline according to their convenience. The integrated LED lighting system adjusts the light depending on the surrounding light. Such technologically advanced products are expected to gain immense popularity among consumers, especially the youth.
Similarly, in March 2019, Bespoke Marketing, a Canada-based company, launched the NuBreeze cloth drying rack with COOL AIR technology, claiming that it dried clothes twice as fast as the regular drying rack and used 3 times less energy as compared to a 100-Watt light bulb. The rack consumes 95% less energy than a tumble dryer, making it highly sustainable. The device consists of curved air flaps that evenly distribute air across clothes loaded on the rack. Moreover, the drying rack can load up to 20 kg of wet clothes and is also suitable for delicate fabrics. Such innovative cloth drying products are expected to gain significant momentum in the coming years.
Manufacturers are also innovating the design of cloth dryers, keeping their consumers' convenience in mind. For instance, in June 2020, Lifestyle Clothesline launched a new range of products under the brand name Hills Hoist Clothesline in the Australian market. This new line of cloth dryers comprises folding and rotating dryers, fixed models, wall-mounted clotheslines, retractable and extending units, portable clotheslines, and clothes airer. All these products under the new brand line have modern structural designs that cater to various consumer requirements. Such an extensive range of products with different usage and unique features is expected to attract a large group of consumers in the near future. Thus, the availability of innovative products has significantly contributed to the cloth drying products market.
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Based on product type, the global cloth drying products market is segmented into rotary dryer, wall-mounted dryer, and drying rack. In 2021, the drying rack segment accounted for the largest revenue share, while the wall-mounted dryer is expected to account for the highest growth rate over the forecast period. Many manufacturers are offering various products under the wall-mounted segments, which can be easily fitted in the apartment or balcony and folded back onto the wall when not in use. For instance, Honey-Can-Do also offers a wall-mounted drying rack with arms that fold flat when not in use. These dryers are specially designed with materials that match any home décor or interiors and look inconspicuous when not in use. Such flexible designs of wall-mounted dryers are further enhancing their popularity among consumers.
In 2021, North America accounted for the largest share of the global cloth drying products market. The growth of the cloth drying products industry is also attributed to the rising number of dual-income households and nuclear families. People are trying to save time and effort and prefer to dry their clothes on indoor drying racks instead of hanging their clothes outside their balconies, which is driving the growth of the laundry products sector in the region.
Benefits of line drying over machine/tumble drying and growing awareness regarding environmental sustainability are drivers of cloth drying products. Line drying of clothes is quite beneficial, especially when compared to machine drying or tumble drying. Using a clothesline dryer, consumers can reduce their carbon footprints and save on electricity bills.
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Impact of COVID-19 Pandemic on Cloth Drying Products Market Size
The COVID-19 pandemic affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The consumer goods industry suffered serious disruptions in supply chains and shutdowns of production plants in the initial phases of the pandemic. The pandemic hindered the supply chains, manufacturing, delivery schedules, and goods sales. Further, various companies announced possible delays in product deliveries and a slump in future sales of their products in 2020. In addition, the bans imposed by various countries on international travel compelled enterprises to temporarily suspend their collaboration and partnership plans.
Due to the shutdown of manufacturing units and shortage of raw materials, there was a shortfall in the production and delivery of various products. The market for cloth drying products also witnessed a similar impact of the pandemic. Due to the severe spread of the virus, consumers stayed inside their homes and chose to spend money only on essential goods. This factor lowered the sales of cloth drying products. However, as the market situation improved with the introduction of vaccines and the relaxation of government restrictions, the sales of nonessential goods, including home essentials, increased significantly in the region. This factor positively impacted the cloth drying products market size growth across the world.
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