DUBLIN--(BUSINESS WIRE)--The "Dry-Cleaning And Laundry Services Global Market Opportunities And Strategies To 2022" report has been added to ResearchAndMarkets.com's offering.
This report describes and evaluates the global dry-cleaning and laundry services market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.
The global dry-cleaning and laundry services market size reached a value of nearly $118.9 billion in 2018, having grown at a compound annual growth rate (CAGR) of 8.7% since 2014, and is expected to grow at a CAGR of 10.9% to nearly $180 billion by 2022.
Growth in the historic period resulted from strong economic growth in emerging markets, rapid urbanization, a rise in the number of single person households, and growth in the healthcare services sector. Factors that negatively affected growth in the historic period were growth in consumers' preference for at-home washing, the emergence of automatic all-in-one household washing machines, a rise in real estate rental prices, and low profit margins.
Going forward, growth in the 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 is segmented by type of service into linen and uniform supply, dry-cleaning and laundry services (except coin-operated) and coin-operated laundries and dry cleaners. The linen and uniform supply segment was the largest segment of the dry-cleaning and laundry services market in 2018 at 54.2% or $64.5 billion. The linen and uniform supply segment is expected to be the fastest-growing segment going forward at a CAGR of 12.1%.
The linen and uniform supply market is further segmented into linen supply and industrial launderers. The industrial launderers segment was the largest segment of the linen and uniform supply market in 2018 at 54.9% or $35.4 billion. The linen supply segment is expected to be the fastest-growing segment going forward at a CAGR of 13.3%.
The coin-operated laundries and drycleaners market is further segmented into coin-operated laundry routes and coin-operated laundries and dry-cleaning stores. The coin-operated laundries and dry-cleaning stores segment was the largest segment of the coin-operated laundries and drycleaners market in 2018 at 53.2% or $9.4 billion. The coin-operated laundry routes segment is expected to be the fastest-growing segment going forward at a CAGR of 11.4%.
The dry-cleaning and laundry services (except coin-operated) market is further segmented into household and commercial laundries, dry-cleaning plants, garment pressing and agents for laundries, and all other laundry and garment services. The dry-cleaning plants segment was the largest segment of the dry-cleaning and laundry services (except coin-operated) market in 2018 at 65.7% or $24.4 billion. The all other laundry and garment services segment is expected to be the fastest-growing segment going forward at a CAGR of 20%.
The dry-cleaning and laundry services market is also segmented by end use into commercial, residential, and coin-operated laundries and dry cleaners. The commercial dry-cleaning and laundry services segment was the largest segment of the dry-cleaning and laundry services market in 2018 at 66.7% or $79.7 billion. The commercial dry-cleaning and laundry services segment is expected to be the fastest-growing segment going forward at a CAGR of 11.7%.
The dry-cleaning and laundry services market is also segmented by distribution channel into offline and online. The offline dry-cleaning and laundry services segment was the largest segment of the dry-cleaning and laundry services market in 2018 at 87.1% or $103.6 billion. The online dry-cleaning and laundry services segment is expected to be the fastest-growing segment going forward at a CAGR of 34%.
Asia-Pacific was the largest market for dry-cleaning and laundry services, accounting for 34.9% of the global market in 2018. It was followed by North America, Western Europe and then the other regions. Going forward, Eastern Europe and the Middle East will be the fastest growing regions in the dry-cleaning and laundry services market, where growth will be at CAGRs of 16.1% and 15.7% respectively. These will be followed by Africa and Asia-Pacific where the markets are expected to grow at CAGRs of 15.5% and 15.2% respectively.
The dry-cleaning and laundry services market is fragmented with a large number of small entities. Players in the market include Cintas Corp., Elis SA, Aramark, UniFirst Corp., Franz Haniel & Cie GMBH, Downer EDI Limited, Johnson Service Group, CSC ServiceWorks Holdings Inc., Rentokil Initial plc and K Bro Linen Inc.
The global personal services market, of which the dry-cleaning and laundry services market is a segment, reached a value of nearly $1,179.1 billion in 2018, having grown at a CAGR of 9.6% since 2014. It is expected to grow at a CAGR of 11.8% to nearly $1,842.2 billion by 2022. The dry-cleaning and laundry services market was the fourth largest segment of the personal services market accounting for 10.08% of the total in 2018. The personal care services segment is expected to be the fastest growing segment in the personal services market, growing at a CAGR of 12.8% during 2018-2022.
The top opportunities in the global dry-cleaning and laundry services market will arise in the linen and uniform supply segment, which will gain $37.4 billion of global annual sales by 2022. The dry-cleaning and laundry services market size will gain the most in China at $17.32 billion. Market-trend-based strategies for the dry-cleaning and laundry services market include investing in digital technologies such as mobile apps to offer on-demand laundry services, offering cashless self-service options such as contactless payments and digital wallets to ease cash management and attract customers, and installing smart laundromats to cut down labour costs, save time and improve operational efficiencies. Player-adopted strategies in the dry-cleaning and laundry services industry include strategic acquisitions, expansion into new geographies and partnerships.
To take advantage of the opportunities, the analyst recommends the dry-cleaning and laundry companies to consider offering on-demand dry-cleaning and laundry services, installing laundromats at dry-cleaning facilities, adopting sustainable laundry practices, focusing on tier 1 and tier 2 cities, and targeting millennials.
Companies Mentioned
- 5sec
- Al Rafidain Laundry
- Alsco Pty Limited
- Aramark
- Arbela
- Bel & Blanc
- Bendor Laundrette
- Boni
- Brite Star Cleaners
- Cadet Cleaners
- Champion Cleaners
- Cintas Corp.
- Comet Cleaners
- Connoisseur Dry Cleaners
- Crisp & Clean
- CSC ServiceWorks Holdings Inc.
- Downer EDI Limited
- Dryclean USA
- DryClyn Express
- Easy Life Laundry
- Easy Wash Laundromat
- Eco Dry Cleaners
- Edaixi
- Elephat King Laundry
- Elis SA
- Fabricspa
- Force Laundry
- Fornet
- Franz Haniel & Cie GMBH
- Golden Hanger Cleaners
- Harringtons Dry Cleaners And Launderers
- Hi-tech Dry-cleaning
- Hollywood S.A
- Immaculate
- Impressed Laundry
- Jeeves
- Johnson Service Group
- JustLaundry
- Karl Chehade Dry-Cleaning
- Kisafi
- Lapels
- Laundrapp
- Laundry Day
- Laundry Drnovec
- Laundry Solution
- LaundryMart Fetch
- Lavanderia
- Martinizing Dry-Cleaning
- Mr Jeff
- MWD Group
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and more...
For more information about this report visit https://www.researchandmarkets.com/r/mfjyay
