The Worldwide Home Cleaning Services Industry is Expected to Reach $10 Billion by 2026 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Home Cleaning Services - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Home Cleaning Services estimated at US$5.6 Billion in the year 2020, is projected to reach a revised size of US$10 Billion by 2026, growing at a CAGR of 9.6% over the analysis period.

The pandemic has made sanitation more important than ever, exponentially accelerating the demand for residential cleaning services. In addition to fueling introduction of advanced products and specialized services, the scenario is prompting companies to focus on diversification and sustainable options. Though there could be considerable headwinds of healthcare and economic crises in the short-term, the long-term growth prospects of the residential cleaning services industry seem bright.

Consumer demand for residential cleaning services is increasing at a significant rate owing to the growing number of households with dual-incomes. Such a high growth in demand is increasing the number of professional residential cleaners in the marketplace. Being a pressing health concern, allergies remain one the primary drivers behind rising demand for home cleaning services. The factor is also playing an important role in increasing the uptake of natural, green cleaning solutions on the expense of traditional products that are based on chemicals known to aggravate allergies.

In the recent years, a large number of companies offering home cleaning services have started embracing green cleaning solutions to help people with allergies. The industry's growth is also augmented by notable expansion of the healthcare sector and the rising geriatric population. Seniors who need assistance with daily routine and healthcare needs are unable to clean their homes. These elderly people often rely on providers of cleaning services for their homes. The phenomenal growth exhibited by the home cleaning services industry can also be credited to continuous expansion of the commercial real-estate sector. The need for consistent care and cleaning for commercial properties is presenting massive business opportunities for cleaning service providers.

The U.S. Market is Estimated at $1.5 Billion in 2021, While China is Forecast to Reach $1.4 Billion by 2026

The Home Cleaning Services market in the U.S. is estimated at US$1.5 Billion in the year 2021. The country currently accounts for a 22.3% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.4 Billion in the year 2026 trailing a CAGR of 13% through the analysis period.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 7.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR while Rest of European market (as defined in the study) will reach US$1.5 Billion by the end of the analysis period. The US has witnessed increasing participation of women in the workforce over the past few decades.

Select Competitors (Total 158 Featured):

• Chem-Dry
• Clean First Time
• Duraclean International, Inc.
• Mothers House Cleaning
• Steamatic Inc.
• The ServiceMaster Company, LLC

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Impact of Covid-19 and a Looming Global Recession
• As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
• Home Cleaning Services: A Prelude
• Salient Forces Responsible for Spurt in Global Demand of Home Cleaning Services
• Cleaning Services Evolve as a Highly Lucrative Business Amid COVID-19
• Low Capital Investments Make Home Cleaning Services an Attractive Business Opportunity
• Changing Business Model of Home Cleaning Business
• Recent Market Activity

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Pandemic Accelerates Digital Transformation of Home Cleaning Business
• Automation Gains Momentum in the Home Cleaning Sector
• Persistent Hygiene Threats and Risks at Homes Raise the Importance of Cleaning Services
• Deep Cleaning Services Gain Demand
• Increasing Adoption of Green Cleaning Products: A Notable Trend Spurring Market Growth
• Cleaning Service Providers Move to Online Platform
• Key Trends Outlining the Cleaning Products Market
• Rise in Number of Working Women Spells Opportunities
• Millennials: A Key Demographic for Cleaning Services
• Growth in Single Person Households Augurs Well for Market Growth
• Uptake on Rise as Home Cleaning Services Become More Affordable
• Rise in Disposable Incomes Drive Spending on Cleaning Services
• Industry Witnesses Rise in Demand for Specialty Cleaning Services
• The WFH Trend Fuels Demand for Home Cleaning Services
• Demand for Personalized Services on Rise for Older Adults

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/q6u5u6