SyQuest projects that the dry-cleaning and laundry services market will attain a value of USD 154.76 billion by 2030, with a CAGR of 3.8% over the forecast period (2023-2030). The dry-cleaning and laundry market is currently undergoing a period of substantial growth, primarily attributed to the escalating demand from customers searching for practical and budget-friendly solutions for maintaining their garments. This trend toward convenience and cost-effectiveness is a driving force behind the expansion of the market.
Westford, USA, Aug. 24, 2023 (GLOBE NEWSWIRE) — According to SyQuest, the dry-cleaning and laundry services market is witnessing a notable surge in demand as consumers progressively turn to these services for convenience and cost-effectiveness. The allure of convenience at a reasonable price point is propelling the growth of this market. Additionally, there is a marked increase in consumer spending on such services, which is anticipated to accelerate market expansion over the forecast period further.
Browse in-depth TOC on the “Dry-Cleaning and Laundry Services Market”
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Pages – 165
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Tables – 62
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Figures – 75
Several enterprises, such as cleanly and rinse, have adeptly recognized the vast potential within the realm of laundry services and are directing substantial investments to enhance their foothold in the dry-cleaning and laundry services market. The surge in online laundry services is notably fueled by a heightened demand stemming from a proliferation of hotels, hospitals, restaurants, and various other business establishments seeking streamlined solutions.
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Prominent Players in Dry-Cleaning and Laundry Services Market
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Laundry Services Segment is Expected to Dominate the Market Due to the Growing Popularity
Laundry services segment asserted its dominance over the dry-cleaning and laundry services market, commanding a substantial share exceeding 57.5%. This sector’s prominence is attributed to its growing popularity, driven by factors such as reliability, notable technical advancements in the laundry industry, and the ongoing trend of urbanization. These factors are collectively anticipated to serve as pivotal growth drivers propelling the market forward over the forecast period.
The market in Europe is poised for significant growth, attributed to two key factors that contribute to its expansion. The region’s prevalent high-fashion culture significantly influences the dry-cleaning and laundry services market’s trajectory. The demand for professional and specialized garment care services is rising with a strong emphasis on clothing quality and maintenance.
Residential Application Segment is Expected to Grow the Market Due to the Growing Population
Residential application segment established its supremacy within the dry-cleaning and laundry services market, capturing a significant share of 63.6%. This dominance can be attributed to the robust expansion of the residential segment, which is set to be propelled by multiple factors. A notable contributor is the escalating global count of residential units, reflecting a growing population and urbanization trends.
Regional markets in the Asia Pacific established themselves as the foremost shareholder, commanding a substantial share of approximately 35%, and this dominance is anticipated to persist with a projected CAGR of 8.4% across the forecast period. The region’s prominent position is underpinned by factors contributing to its dry-cleaning and laundry services market leadership.
A comprehensive analysis of the major players in the dry-cleaning and laundry services market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Dry-Cleaning And Laundry Services Market
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In 2022, Pony showcased various new, advanced, and innovative laundry and dry-cleaning equipment, exemplifying their accomplishments and future ambitions. Among the notable offerings was the ANGEL 3.0…
Read More: Dry-Cleaning and Laundry Services Market to Surpass 154.76 Billion by 2030