Product ID: SQMIG25S2020
Report ID: SQMIG25S2020 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 91 | Figures: 76
US Laundry Facilities Dry Cleaning Services Market size was valued at USD 10.82 billion in 2021 and is poised to grow from USD 11.31 billion in 2022 to USD 15.48 billion by 2030, growing at a CAGR of 4.5% in the forecast period (2023-2030).
The laundry and dry-cleaning facilities are on demand due to increasing working population of US and after the COVID-19 outbreak across the globe has significantly increased the awareness among people regarding self-hygiene and maintaining clean environment. According to the society for Human Resource Management, 64% of US employee are working from home. Laundry is a time-consuming task and has become a burden for people, especially for those working full time. Thus, time constraints due to increasing work pressure and hours boost the demand for laundry services.
With increasing employment and work force in country, people are getting busier thereby creating significant opportunities for online laundry service. Several providers, such as Cleanly, Fly Cleaners, and ZIP JET, offer discounts on their services to promote business and expand customer. Growing awareness regarding the personal care, personal hygiene and influence by social media and fashion trends has increase the us laundry facilities dry cleaning services market growth. The market is starting to incorporate computerized lockers inside offices or apartment buildings that allow customers to pickup and drop off their laundry 24/7. The customer is notified by text message about their cloth is ready.
US Laundry Facilities Dry Cleaning Services Market is poised to grow at a sustainable CAGR for the next forecast year.
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The US laundry facilities dry cleaning services market is segmented on the basis of type, application, and form. On the basis of form, it is segmented as powder, liquid, and other (Sheet, Pod). On the basis of application, the market is segmented into residential, commercial, and industrial. Based on type, it is segmented into coin-operated, retail laundry/dry clean services, corporate/industrial laundry services.
US Laundry Facilities Dry Cleaning Services Market Analysis by Form
On the basis of form, liquid detergents dominate the us laundry facilities dry cleaning services market, in contrast to the trend in the global industry in which powder form make up the largest segment. Pods are also forecasted to see a healthy growth in the region. In 2017, North America was leading market for pods and is expected to maintain its position in the forecast period. The pods segment in the region is being driven by their effectiveness and convenience of use.
US Laundry Facilities Dry Cleaning Services Market Analysis by Type
With a revenue share of more than 36% in 2020, the coin-operated services segment led the us laundry facilities dry cleaning services market and is expected to maintain its lead throughout the forecast period. The growing number of working people in the country is driving the demand for these services. The growing number of commercial facilities that use online laundry services, particularly in the United States, is also fueling market growth. The presence of key players providing coin-operated laundries, as well as increased collaborations between companies and hotels, are expected to benefit the segment in the coming years.
Over the forecast period, the retail laundry/dry cleaning service segment is expected to grow at the fastest rate of 4.6%. Retail laundry services are emerging as a dependable and convenient service at a reasonable price, as a result of changing lifestyles and hectic work schedules, which drive the growth of this segment.
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The United States is the largest market for dry cleaning and laundry services. Rising internet penetration, increased smartphone use, and the introduction of mobile apps are expected to drive demand for online laundry services in the United States. Furthermore, the laundry facilities dry cleaning services market will benefit from the introduction of smart laundry technologies, which have the ability to increase the efficiency of laundry operations while lowering customer laundry service costs. In the coming years, the market will benefit from the hospitality sector's steady growth, increased franchising opportunities, and technological advancements. Growing female working population and the cost-effectiveness of laundry services are driving market growth in the United States.
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US Laundry Facilities Dry Cleaning Services Market Driver
Technological advancements in the laundry industry, as well as the rise in urbanization, are expected to drive the growth of the US laundry facilities dry cleaning services market during the forecast period. Furthermore, growing popularity of cashless payment for coin-based laundry is expected to propel the dry-cleaning and laundry services market forward. Furthermore, the integration of smart meters and rising consumer adoption of dry-cleaning and laundry services as they provide convenience at a reasonable price are expected to drive growth of the US laundry facilities dry cleaning services market.
US Laundry Facilities Dry Cleaning Services Market Restraint
The logistics of an LDC (Laundry and Dry-Cleaning) business are quite different from that of a regular food delivery company or an e-commerce company. In this industry, the delivery executive must return to the customer's location twice for the same order. He must go to the customer's location for pickup and return the garments to the processing center. He should deliver the garments back to the customer once they have been processed. For a single order, the delivery executive must effectively visit the customer's location twice. If the customer wants to rewash the clothes, the logistics become even more complicated.
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The market is highly fragmented and competitive owing to the presence of a large number of unorganized players. The major corporations are actively channeling their efforts and pursuing growth strategies such as product innovation, online platform expansion, and others. A moderate level of capital investment is required to start a business.
As a result, small and medium-sized businesses will experience significant growth in the coming years. Market participants are also focusing on attracting investment in order to broaden their reach and strengthen their industry position. Cleanly, for example, raised USD 2.3 million in funding to expand its product offering.
Top Players in the US Laundry Facilities Dry Cleaning Services Market
US Laundry Facilities Dry Cleaning Services Market Recent Developments
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.
Furthermore, the combination of smart meters and increased consumer use of dry-clean and l provide efficiency at laundering services, which provide efficiency at a reasonable price, are expected to support the market growth.
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Few prospects for expansion have arisen as a result of technological advancements that have compelled consumers to purchase washing machines. As more individuals use automatic washing machines, finding the best laundry products becomes more crucial. Also, due to the coronavirus scenario, laundry care products were mostly promoted online, reaching a diverse and large audience. Consumer adoption of scented laundry care products and allergenic/green goods is growing, and the development of new products is propelling the laundry care industry's growth. As a result of this element, vendors create laundry care products with distinctive packaging, smell, quality, and pricing, allowing them to stand out from the competition.
In a few restaurants, increased per capita income of households for cleaning is combined with market participants' marketing campaigns for promotion. Furthermore, not everyone can afford a washing machine, and not everyone can afford organic and eco-friendly expensive laundry care products.
|Market size value in 2021||USD 10.82 billion|
|Market size value in 2030||USD 11.31 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the U.S. Laundry Facilities Dry Cleaning Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the U.S. Laundry Facilities Dry Cleaning Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the U.S. Laundry Facilities Dry Cleaning Services Market:
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