As more people enter the labor force in the United States, there is a greater tendency for professional laundry facilities and dry-cleaning facilities to save both energy and time.
In this nation, on-demand, retail laundry or dry clean services are becoming extremely prevalent because they implement an efficient full-cycle strategy, from reserving via app to pick up, cleaning as per customers’ instructions, and supplying washed clothes at scheduled timelines.
Customers can even find out about the condition of their clothes by logging into their app and getting full standard delivery details.
Even though the COVID-19 pandemic appears to be waning regarding its impact, its economic effect is rising.
The ripple effects that the epidemic has had and will proceed to have on a national and global scale are astounding, ranging from laundry enterprises temporarily shuttering to entirely closing down. Based on a Planet Laundry survey, the coronavirus reduced laundry shareholders’ average earnings by 6.9% between 2019 and 2020.
The growing adoption of the Internet in the United States has bolstered the market for internet services. The procurement of expensive and delicate fabric garments has risen as the number of dual-income households has increased. As a result, the aforementioned factors are expected to propel the market.
Key Takeaways from Market Study
- The Northeast United States laundry facilities, and dry-cleaning services Industry is expected to grow at a CAGR of 4.6% from 2023 to 2033.
- In regards to revenue, coin-operated machines governed the market in 2021, accounting for 37% of the total.
- From 2023 to 2033, the retail laundry or dry clean service segment is expected to grow at a 5.3% CAGR.
- Based on a Planet Laundry survey, the coronavirus reduced laundry shareholders’ average earnings by 6.9% between 2019 and 2020.
- The U.S. Laundry Facilities and Dry-Cleaning Services market was estimated at a market value of US$ 10.9 Billion in 2022. It is expected to cross a revenue of US$18.2 Billion by 2033.
- “As more people join the workforce in the United States, there is a greater tendency for competent laundry facilities and dry-cleaning services to save both time and energy. A large percentage of these facilities and services’ customers are working professionals who struggle to find time for their daily chores because of their hectic schedules or late-night professions.” says an analyst at Future Market Insights.
Key Market Players
Key players in the Laundry Facilities and Dry-Cleaning Services market are CSC Service Works, Inc., Lapels Dry Cleaning, Yates Dry Cleaning & Laundry Services, ByNext, Lavatec Laundry Technology GmbH, Angelica Corporation, Tide Cleaners, FlyCleaners, ZIPS Dry Cleaners, The Huntington Company. Because of the presence of numerous unorganized players, the market is highly fragmented.
These players are distinguished by a limited number of services in their portfolio, which cater primarily to domestic customers. Key players are working hard to broaden their reach and strengthen their position in the global market. These players account for a very small percentage of the market.
Read the original article on finance.yahoo.com
