Dry-cleaning and Laundry Services Market size was over USD 69 Billion in 2023 and is projected to cross USD 147 Billion by the end of 2036, growing at more than 7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of dry-cleaning and laundry services is assessed at USD 74 Billion.
The primary factor behind the growth is the increasing hotel sector and the rising demand for dry cleaning and laundry in hotels. According to the National Library of Medicine, the travel and tourism sector, which includes hotels and other lodging options, bars, restaurants, cruise ships, casinos, travel agencies, tour operators, and other related businesses, generated over USD 4.5 trillion in consumer expenditure in 2020.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
7% |
Base Year Market Size (2023) |
USD 69 Billion |
Forecast Year Market Size (2036) |
USD 147 Billion |
Regional Scope |
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Services (Laundry, Dry Cleaning, Duvet Cleaning)
Laundry segment is poised to capture dry-cleaning and laundry services market share of around 58% by the end of 2036. The largest segment of dry-cleaning and laundry services is laundry, with a market value of USD 30.16 billion in 2023. The increasing technological advancement in laundry services will propel this segment to hold the largest market.
Technical solutions for the commercial laundry services sector are still being developed as the business has grown into a profitable one. Optimal services are now more accessible than ever thanks to laundry tracking software and incredibly sophisticated washing machines.
Application (Residential, Commercial)
In dry-cleaning and laundry services market, residential segment is expected to hold revenue share of more than 67% by 2036. This expansion will be noticed because of the rising expansion of residential units globally.
According to the World Bank, currently, more than 50% of people on the planet reside in cities. The global urban population is expected to rise to 6 billion people by 2045, a 1.5-fold increase. In order to accommodate their growing population, city officials must act swiftly to plan for expansion and supply the infrastructure, affordable housing, and essential services.
Our in-depth analysis of the market includes the following segments:
Product |
|
Application |
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Distribution Channel |
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Type |
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Garments |
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APAC Market Statistics
Asia Pacific dry-cleaning and laundry services market is set to account for revenue share of more than 55% by the end of 2036. The region’s dry-cleaning and laundry services sector is thriving, because of the rising middle-class population and rising incomes of people. According to the Asian Development Bank, in the past several decades, developing Asia's middle class (USD 2-USD 20) has expanded significantly in comparison to other global areas. Moreover, more than USD 1.8 trillion in total yearly middle-class expenditure added more than 800 million individuals to the middle class.
The market for dry-cleaning and laundry services has expanded in China as a result of the rising population and their inclination towards cleanliness and advanced material in this country. China's population is estimated to have decreased from 1.412 billion in the 2020 census to 1.409 billion in 2023.
The Indian dry-cleaning and laundry services development mainly lies in the rising investment in healthcare infrastructure, and growing spending. India ranks second with 205 million new middle-class citizens and USD 256 billion in yearly middle-class spending.
Japan will also be a significant place in the growth of dry-cleaning and laundry services because of the increasing commercial sector in this region. Japan has more than 5.3 million non-governmental commercial enterprises, according to the country's most recent national census. Private businesses, such as single proprietorships and incorporated firms, made up the bulk of these entities.
North American Market Analysis
North America dry-cleaning and laundry services market revenue is projected to reach USD 25.5 Billion by the end of 2036 owing to the increasing demand for organic home care products in this region. The demand for cleaning goods, including hand sanitizers, disinfectants, and other household cleaning products, is unprecedented for retailers.
Dry-cleaning and laundry services are especially in actual demand in the U.S., driven by the rising use of eco-friendly solvents for cleaning. The percentage of American products promoted with green chemistry increased to 15.10% in 2020. Highlighting the growing need for and acceptance of green chemistry solutions across a range of sectors.
In Canada, dry-cleaning and laundry services will encounter massive growth because of the increasing presence of online laundry services. Customers may now outsource these tasks as on-demand laundry apps have become popular in Canada. These applications offer doorstep pickup and delivery choices to their users.
Leading companies are concentrating on enhancing the features and specifications of dry-cleaning and laundry services in addition to forming alliances, mergers, and acquisitions to broaden their product offerings. A few of the key players in the dry-cleaning and laundry services market are:
Author Credits: Parul Atri
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