Dublin, May 13, 2021 (GLOBE NEWSWIRE) -- The "Dry-Cleaning and Laundry Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Dry-Cleaning and Laundry Services is projected to reach US$75.1 billion by 2025, driven by the continuous evolution of consumer behavior and lifestyle and the resulting lack of time for household chores and increased willingness to utilize commercial laundry eservices.
Over the years, the demand for cleaning and laundry services has recorded strong growth from residential, commercial and industrial sectors. The increase in single person households and rapid pace of urbanization, strong growth in sectors such as healthcare and hospitality have also contributed to the rise in demand for laundry services. The contribution of emerging economies, with their high economic growth, has been significant in driving demand for dry cleaning and laundry services.
In the coming years, the market is poised to benefit from the steady growth in hospitality sector, increasing opportunities for franchising, and technological advancements. The growing participation of women in workforce and cost effectiveness of laundry services are driving market growth.
The rising Internet penetration levels, increasing use of smart phones and the advent of mobile apps are expected spur demand for online on-demand laundry services. Companies are spinning the right business model with online dry cleaning and laundry services. As the on-demand economy becomes larger, online laundry services are opening the doors of opportunities for laundry businesses. Companies are stepping up their efforts to develop feature-rich laundry mobile apps.
Apps help showcase services; reach customers in different sections of the society; eliminates location barriers; and provides customers an easy user interface to access services. Integration of in-app features such as real-time tracking of laundryman; viewing service order status; and payment options through audio QR scanning are helping make these services more convenient to use.
Further, the laundry services market will be favored by advent of smart laundry technologies, which have the ability to increase efficiency of laundry operations and reduce costs of laundry services for customers.
The market will also be impacted by the changing trends in clothing sector, rise in minimum wages and shortage of skilled personnel. The introduction of smart laundry technologies due to the advent of IoT and wireless technologies is also driving laundry services market. The advent of smart washing machines capable analyzing input parameters like load size and type for determining the amount of detergent required is leading to significant improvements in efficiency of laundry service operations and facilitating in cost reduction.
Also impacting the dry cleaning and laundry services market is the growing awareness about the need for adopting eco-friendly laundry practices, which is fueling adoption of sustainable processes that help in saving energy, water and costs. Hotel industry is a dynamic, customer-oriented sector that relies heavily on laundry services to ensure clean laundry for enhanced guest experiences and service.
Demand for lodging services and travel accommodation continues to grow at a healthy pace steered by progressive trend in world travel and tourism industry. Rising number of travelers in leisure, business, pilgrimage, education, and medical tourism verticals continues to expand the lodging services and travel accommodation market, thereby enhancing the use of commercial laundry services and machinery.
Also, against the backdrop of significant rise in number of travelers, hotels now offer rooms for multiple bookings on a single day. This is expected to drive the frequency of linen change in hotel rooms on a daily basis which is expected to drive the demand for laundry and dry-cleaning services at hotels.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Dry-Cleaning and Laundry Services Market: Prelude
- Commercial Laundry Services to Present Significant Growth Opportunity
- Asia-Pacific: A High Growth Regional Market
- Competition
- Dry-Cleaning and Laundry Services Competitor Market Share Scenario Worldwide (in %): 2019
- Recent Market Activity
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
- Aramark Corporation (USA)
- Cintas Corp. (USA)
- CSC ServiceWorks, Inc. (USA)
- CWS-boco International GmbH (Germany)
- Elis SA (UK)
- EVI Industries, Inc. (USA)
- Huntington Cleaners & Shirt Laundry (USA)
- Mulberrys LLC (USA)
- The Procter & Gamble Company (USA)
- UniFirst Corporation (USA)
- Yates Dry Cleaning (USA)
- Zipjet Ltd. (UK)
3. MARKET TRENDS & DRIVERS
- Advent of Smart Laundry Technologies to Spur Market Growth
- Driven by High-Speed Internet Connectivity and Smartphone Penetration, Online On-Demand Laundry Services Market Grows at a Healthy Pace
- Coin-Operated Laundry Services Market Grows at a Slow Pace
- Hospitality Sector: An Important Market for Laundry Services
- Rise in Lodging Services & Travel Accommodation to Drive Increased Use of Commercial Laundry Services
- for Holidays, Leisure & Recreation, Business & Professional, and Others
- Demand on Rise for Sustainable Laundry Services
- Sustained Growth in the Market for Cashless Self-Service Laundries
- Franchising Business Model Gains Traction in Dry Cleaning and Laundry Services Industry
- Healthcare Services: A Traditional Revenue Generator for Laundry Services
- High Demand for Laundry Services from Uniform Supply Market
- Residential Laundry Services Market Benefits from Changing Lifestyles and Rise in Single-Person Households
- Outsourcing of Laundry Services Gains Momentum
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 92
For more information about this report visit https://www.researchandmarkets.com/r/espbx7