Vendor Insights
The dry-cleaning and laundry services market is fragmented and the vendors are providing innovative services to customers and focusing on building brands and brand equity to compete in the market.
- American Dry Cleaning Co.- The company provides dry cleaning services for soft toys, shirts, shoes and other items and even offers corporate tie-ups. American Dry Cleaning Co also offers full laundry services and premier dry cleaning.
- ByNext Inc.- The Clothing Care segment involves services such as laundry, dry cleaning, cleaning and folding etc. Moreover, Home care & Cleaning segment provides services such as home and office cleaning under this segment. The company offers dry cleaning and laundry services under the clothing care service line.
- CSC ServiceWorks Inc.- The company offers dry cleaning and laundry services under the service lines including In-Home Laundry, Community Laundry and Commercial Laundry.
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Geographical Market Analysis
36% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for dry-cleaning and laundry services in APAC. Market growth in APAC will be faster than the growth of the market in other regions.
The rising middle-class population and increasing incomes of people will facilitate the dry-cleaning and laundry services market growth in APAC over the forecast period.
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Key Segment Analysis
The dry-cleaning and laundry services market share growth by the commercial segment will be significant during the forecast period. Various vendors in the global dry-cleaning and laundry services market specialize only in commercial user segments to drive a strong hospitality industry clientele base and consistently offer quality services. Sector-specific dry-cleaning and laundry services offered by the vendors are expected to propel the growth of the dry-cleaning and laundry services market by the commercial end-user segment during the forecast period.
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Key Market Drivers & Challenges:
The labor force participation rate of women is a major factor driving the demand for dry-cleaning and laundry services globally. In the last five years, female participation in the labor force has taken an upward trend owing to the rapid transition in societal mindset, coupled with initiatives taken by the government, especially in emerging economies. The greater participation of women in the labor force translates to lesser time for household chores such as laundry cleaning. Thus, the demand for outsourcing laundry services has increased in households. Factors such as a rise in health expenditure, consumption expenditure, and inflation rate are prompting women to opt for work. Furthermore, initiatives taken by the government to promote female employment and reduce gender disparity drive the female employment rate. Such initiatives will drive the dry-cleaning and laundry services market.
Setting up a commercial laundry business involves high capital investments. The company must install commercial washing machines, which are expensive to deploy. Furthermore, any significant change in the prices of utility bills such as water and electricity impacts the cost of business. Also, the regular wear and tear of machines impose a huge maintenance cost for the owner. In addition, companies must spend on chemicals that are used to sanitize fabrics, such as detergents, spot-stain removers, and bleach. Furthermore, companies must bear additional electricity costs to heat up the water to remove stains from fabrics. Therefore, high capital investments are expected to hinder the growth of vendors' business in terms of the number of customers preferring such premium services.
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Dry-cleaning and Laundry Services Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.51% |
Market growth 2021-2025 |
$ 13.62 billion |
Market structure |
Fragmented |
YoY growth (%) |
3.80 |
Regional analysis |
APAC, Europe, North America, South America, and MEA |
Performing market contribution |
APAC at 36% |
Key consumer countries |
US, China, Germany, Japan, and France |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
American Dry Cleaning Co., ByNext Inc., CSC ServiceWorks Inc., EVI Industries Inc., Inc & Co Group Ltd., Lapels Dry Cleaning, Laundry Town Inc., Mulberrys LLC, Rinse Inc., and The Procter and Gamble Co. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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SOURCE Technavio
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