Dry Cleaning/Laundry Services Market to Grow 11% CAGR, Owing to Increase Franchising Opportunities According to TBRC Report
LONDON, Nov. 28, 2019 /PRNewswire/ -- The global dry-cleaning and laundry services market is expected to grow from $118.9 billion in 2018 to $180.0 billion in 2022 at an annual growth rate of 10.9%. The franchise expansion of dry-cleaning and laundry services providers is expected to positively affect the dry-cleaning and laundry services market (https://www.thebusinessresearchcompany.com/report/dry-cleaning-and-laundry-services-market). Big laundry service providers are offering franchise opportunities, while providing required equipment and software to efficiently manage the whole process of dry-cleaning and washing. The offering of such franchise model is expected to increase the number of entrepreneurs who will establish laundry businesses nationally and globally. The 24x7 operation of franchises equipped with coin-vending laundry machines, in combination with hectic lifestyles of the working-class population, will improve the availability of laundry services to a large number of consumers, thus encouraging an increased number of consumers to opt for commercial laundry services.
Franchising has increased the expansion of dry-cleaning businesses. A franchising model of business allows dry cleaning companies to grow fast and expand geographically. Dryclean USA, Martinizing Dry Cleaning, and Comet Cleaners, for instance, are the dry-cleaning services providers that apply a franchise business model. A dry-cleaning franchise can attract loyal customers in different regions due to established business processes. Franchises following an eco-friendly business model of the parent company attract environmentally-conscious customers as they provide an established eco-friendly business model. For instance, Lapels, a leading dry-cleaning service provider in the USA, uses eco-friendly processes across all its dry-cleaning franchise outlets. Request A Free Sample Of This Report@ https://www.thebusinessresearchcompany.com/sample.aspx?id=2234&type=smp
Sustainable Laundry Services
Laundry firms are offering sustainable laundry services by adopting green cleaning practices, and are implementing technologies/methods to reduce carbon footprint. Some dry-cleaning firms have stopped using regular dry-cleaning chemicals such as perchloroethylene, which are harmful to humans when exposed, and are promoting sustainable practices to entice environmentally-conscious customers. Additionally, certain firms have started adopting other measures such as the reuse of wastewater, adoption of energy efficient laundry machines, and use of low amounts of water, thus effectively reducing their carbon footprint. This also increases firm's profits by reducing the utilities bills for resources such as water, power and sewage. AquaFresco is a filtration technology used by laundry services providers which enables washing machines to reuse 95% of the laundry wastewater. This technology is expected to lead to significant water savings.
Changing Lifestyles And Increasing Number Of Single Person Households Contribute To Market Growth
The busy lifestyles of people trying to incorporate a work-life balance are expected to drive the dry-cleaning and laundry services market going forward. Increasing work pressure and hectic lifestyles lead to a limited time available to carry out household chores including laundry. Due to a shortage of personal time, people prefer to unload their schedules by hiring professionals to preform general activities such as cleaning the house and laundry. Hectic lifestyles leading to consumers opting for laundry services are expected to drive the dry-cleaning and laundry services market.
The increasing number of single person households also positively impacts the dry-cleaning and laundry services market. Socio economic and demographic shifts such as changes in the median marriage age resulted in the increase of single person households from 11.8% in 2006 to 15% in 2015, globally. The unavailability of free time for laundry services due to hectic lifestyles and work pressures also made single person households the major end users of laundry services. Furthermore, economic benefits of laundry services over maintaining a washing machine or hiring maids among single person households also contributes to the growth of the market.
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