Market Size of Dry Cleaning And Laundry Industry
| Study Period | 2020-2029 |
| Market Size (2024) | USD 111.51 Billion |
| Market Size (2029) | USD 150.93 Billion |
| CAGR (2024 - 2029) | 6.24 % |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Dry Cleaning and Laundry Market Analysis
The Dry Cleaning And Laundry Market size is estimated at USD 111.51 billion in 2024, and is expected to reach USD 150.93 billion by 2029, growing at a CAGR of 6.24% during the forecast period (2024-2029).
The dry cleaning and laundry market has been experiencing growth due to changing fashion trends. Fashion trends often feature delicate and high-maintenance fabrics such as silk, lace, and sequins. These materials require special care and are more likely to be dry cleaned, increasing the demand for dry cleaning services. Fast fashion trends can lead to people wearing garments for shorter periods, resulting in more frequent laundering needs. This can boost demand for laundry services, especially for everyday clothing items.
As environmental sustainability becomes a major focus in the fashion industry, consumers are investing more in high-quality, durable apparel that requires extra care. This has led to a surge in dry cleaning services. There has been a significant change in laundry habits among consumers, from home-based washing to coin-operated and on-demand services. This change is driven by an inclination toward convenience and time-saving measures as individuals try to balance increasingly busy schedules. As a result, there is a greater need for the services provided by dry cleaners and laundry companies.
Dry Cleaning and Laundry Industry Segmentation
The professional process of cleaning delicate garments is called drying cleaning and laundry services. The dry cleaning and laundry market is segmented by service, application, and geography. By service, the market is segmented into laundry and dry cleaning. By application, the market is segmented into residential and commercial. By geography, the market is segmented into Asia-Pacific, Europe, Middle East &Africa, North America, and South America. The report offers market size and forecasts for the dry cleaning and laundry market in value (USD) for all the above segments.
| By Service | |
| Laundry | |
| Dry Cleaning |
| By Application | |
| Residential | |
| Commercial |
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Dry Cleaning And Laundry Market Size Summary
The dry cleaning and laundry market is poised for significant growth, driven by evolving fashion trends and increasing consumer demand for convenience. As fashion increasingly incorporates delicate fabrics that require specialized care, the demand for dry cleaning services is on the rise. Simultaneously, the fast fashion trend is contributing to more frequent laundering needs for everyday clothing. The shift towards high-quality, durable apparel, fueled by a focus on environmental sustainability, is further propelling the market. Consumers are increasingly opting for on-demand and coin-operated services, seeking time-saving solutions to accommodate their busy lifestyles. This trend is particularly evident in the residential sector, where dual-income households and the elderly population are driving the need for convenient laundry services.
The Asia-Pacific region is expected to dominate the dry cleaning and laundry market, supported by factors such as lower labor costs and a growing employed population. Countries like China and India are experiencing rapid economic growth, leading to increased disposable incomes and lifestyle changes that boost demand for these services. The industry is also witnessing technological advancements, with modern, eco-friendly machines becoming the norm. Regulatory improvements in countries like China are enhancing service quality and safety, further stimulating market growth. The market remains fragmented, with key players focusing on strategic expansions, partnerships, and product innovations to strengthen their regional presence.
Dry Cleaning And Laundry Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Advent of Smart Laundry Technologies to Spur Market Growth
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1.2.2 Rise in Lodging Services and Travel Accommodation
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1.3 Market Restraints
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1.3.1 Shortage of Skilled Human Resources
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1.4 Market Opportunities
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1.4.1 Use of Technology in Laundry Facilities and Dry Cleaning Services
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1.5 Value Chain Analysis
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1.6 Industry Attractiveness: Porter's Five Forces Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitutes
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1.6.5 Intensity of Competitive Rivalry
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1.7 Insights into Technological Advancements in the Industry
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1.8 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Service
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2.1.1 Laundry
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2.1.2 Dry Cleaning
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2.2 By Application
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2.2.1 Residential
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2.2.2 Commercial
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2.3 By Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.1.4 Rest of North America
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2.3.2 Europe
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2.3.2.1 United Kingdom
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2.3.2.2 Germany
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2.3.2.3 France
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2.3.2.4 Russia
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2.3.2.5 Italy
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2.3.2.6 Spain
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2.3.2.7 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 India
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2.3.3.2 China
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2.3.3.3 Japan
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2.3.3.4 Australia
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2.3.3.5 Rest of Asia-Pacific
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 United Arab Emirates
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East and Africa
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Dry Cleaning And Laundry Market Size FAQs
How big is the Dry Cleaning And Laundry Market?
The Dry Cleaning And Laundry Market size is expected to reach USD 111.51 billion in 2024 and grow at a CAGR of 6.24% to reach USD 150.93 billion by 2029.
What is the current Dry Cleaning And Laundry Market size?
In 2024, the Dry Cleaning And Laundry Market size is expected to reach USD 111.51 billion.
