Global Dry-Cleaning And Laundry Services Market Opportunities And Strategies Report

The global dry-cleaning and laundry services market is expected to decline from $106.2 billion in 2019 to $104 billion in 2020 at a compound annual growth rate (CAGR) of -2.1%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $118.3 billion in 2023. Going forward, growth in hospitality sector, increasing internet penetration, rising franchising opportunity, faster economic growth, busy lifestyles of people and technological advances in the laundry industry will drive growth. Factors that could hinder the growth of the dry-cleaning and laundry services market in the future include changing clothing trends, rising minimum wages, shortages of skilled human resources, low penetration of organized laundry services in developing economies, and changing industry regulations.

The dry-cleaning and laundry services market consists of the sales of dry-cleaning and laundry services and related goods by entities 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 (e.g., uniforms, gowns, shop towels, etc.).

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The global dry-cleaning and laundry services market is further segmented based on type 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 Subsegments Covered: Coin-Operated Laundry Routes, Coin-Operated Laundries And Dry-Cleaning Stores, Household And Commercial Laundries, Dry-Cleaning Plants, Garment Pressing And Agents For Laundries, All Other Laundry And Garment Services, Linen Supply, Industrial Launderers
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 has the largest share, accounting for 34% of the global dry-cleaning and laundry services market.

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Trends In The Dry-Cleaning And Laundry Services Market
The demand for on-demand laundry services is growing rapidly owing to the convenience such services offer. On-demand services are mainly offered through mobile applications that allow customers to remotely order dry-cleaning or laundry services, share preferences and request delivery. On-demand laundry services providers then pick up clothes and linen from customers, and clean and deliver them back to the customers at a preferred time. The customers automatically receive notifications about the pickup, estimated date and time of drop off, and total cost of the service.
Dry-Cleaning And Laundry Services Global Market Report 2020 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 dry-cleaning and laundry services 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 size, dry-cleaning and laundry services market segments and geographies, dry-cleaning and laundry services market trends, dry-cleaning and laundry services market drivers and dry-cleaning and laundry services market restraints, 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.