Global Dry-Cleaning And Laundry Services Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
9 Jul, 2021
The dry-cleaning and laundry services market consists of sales of dry-cleaning and laundry services and related goods by entities (organizations, sole traders and partnerships) that operate coin-operated or similar self-service laundries and drycleaners; provide dry-cleaning and laundry services (except coin-operated); and/or supply, on a rental or contract basis, laundered items such as uniforms, gowns, and shop towels. Establishments in the dry-cleaning and laundry services industry are mainly involved in washing and/or cleaning clothes and linen and include coin-operated laundries and drycleaners, dry-cleaning and laundry services, linen suppliers and industrial launderers.
Global Dry-Cleaning And Laundry Services Market Size And Drivers:
The global dry-cleaning and laundry services market is expected to grow from $93.8 billion in 2020 to $104.5 billion in 2021 at a compound annual growth rate (CAGR) of 12%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $127 billion in 2025 at a CAGR of 5%. Gradual shift in customer spending towards tourism is expected to positively impact the hospitality sector in the forecast period.
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Trends In The Global Dry-Cleaning And Laundry Services Market
Use of cashless self-service laundries or coin-operated laundries and drycleaner machines is growing across the world. This growth is primarily due to emergence of cards and other alternative electronic payment methods such as RFID contactless credit cards, or NFC enabled mobile wallets that provide a cost-effective alternative to handle cash and are also easy to use. Apart from this, cashless laundry machines also provide relief from painstaking cash management in laundries, and secure solutions over cash operated machines, which have to be carefully monitored for thefts.
Global Dry-Cleaning And Laundry Services Market Segments:
The global dry-cleaning and laundry services market is further segmented based on type, end use, distribution channel and geography.
By Type: Coin-Operated Laundries And Drycleaners, Dry-Cleaning And Laundry Services (except Coin-Operated), Linen And Uniform Supply
By End-Use: Commercial Dry-Cleaning And Laundry Services, Residential Dry-Cleaning And Laundry Services, Coin-Operated Laundries And Drycleaners
By Distribution Channel: Offline, Online
By Geography: The global dry-cleaning and laundry services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global dry-cleaning and laundry services market, accounting for 35% of the market in 2020.
Read More On The Report For The Global Dry-Cleaning And Laundry Services Market At:https://www.thebusinessresearchcompany.com/report/dry-cleaning-and-laundry-services-global-market-report
Dry-Cleaning And Laundry Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides dry-cleaning and laundry services market overviews, analyzes and forecasts market size and growth for the global dry-cleaning and laundry services market, dry-cleaning and laundry services market share, dry-cleaning and laundry services market players, dry-cleaning and laundry services market segments and geographies, dry-cleaning and laundry services market’s leading competitors’ revenues, profiles and market shares. The dry-cleaning and laundry services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.