$145 Million Worldwide Dry-Cleaning and Laundry Services Industry to 2031 - Identify Growth Segments for Investment - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Dry-Cleaning And Laundry Services Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists; marketers and senior management with the critical information they need to assess the global dry-cleaning and laundry services market as it emerges from the COVID-19 shut down.

The global dry-cleaning and laundry services market reached a value of nearly $104.2 million in 2021, having increased at a compound annual growth rate (CAGR) of 2.1% since 2016. The market is expected to grow from $104.2 million in 2021 to $127.3 million in 2026 at a rate of 4.1%. The market is then expected to grow at a CAGR of 2.8% from 2026 and reach $145.8 million in 2031.

Companies Mentioned

• Aramark
• Cintas Corp.
• Elis SA
• UniFirst Corp.
• Franz Haniel & Cie GMBH

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Growth in the historic period in the dry-cleaning and laundry services market resulted from the 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 opportunities, 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 linen and uniform supply market is further segmented into linen and industrial launderers. The industrial launderers segment was the largest segment of the linen and uniform supply market segmented by type, accounting for 53.4% of the total in 2021 and linen segment is expected to be the fastest-growing segment going forward at a CAGR of 5.3% during 2021-2026.

The dry-cleaning and laundry services market is also segmented by end use into commercial dry-cleaning and laundry services and residential dry-cleaning and laundry services. The commercial dry-cleaning and laundry services segment was the largest segment of the dry-cleaning and laundry services market segmented by end use, accounting for 69.1% of the total in 2021 and is expected to be the fastest-growing segment going forward at a CAGR of 4.2% during 2021-2026.

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 segmented by distribution channel, accounting for 83.2% of the total in 2021 and online dry-cleaning and laundry services segment is expected to be the fastest-growing segment going forward at a CAGR of 7.7% during 2021-2026.

North America was the largest region in the global dry-cleaning and laundry services market, accounting for 33.6% of the total in 2021. It was followed by the Asia-Pacific, Western Europe and then the other regions. Going forward, Middle East and Africa will be the fastest growing regions in the dry-cleaning and laundry services market, where growth will be at CAGRs of 6.7% and 6.4% respectively. These will be followed by South America and Asia-Pacific where the markets are expected to grow at CAGRs of 5.4% and 4.8% respectively.

The dry-cleaning and laundry services market is highly fragmented, with a large number of regional and small players. The top ten competitors in the market made up to 17.37% of the total market in 2021. Major players in the market are Aramark, Cintas Corporation, Elis SA, UniFirst Corporation, and Franz Haniel & Cie GMBH.

The top opportunities in the global linen and uniform supply market will arise in the linen and uniform supply segment, which will gain $15.6 billion of global annual sales by 2026. The top opportunities in the global coin-operated laundries and drycleaners market will arise in the coin-operated laundry routes segment, which will gain $1.4 billion of global annual sales by 2026. The top opportunities in the global dry-cleaning and laundry services (except coin-operated) market will arise in the dry-cleaning plants segment, which will gain $2.5 billion of global annual sales by 2026.

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