On-Demand Laundry Service Market to grow at a rate of 30.4% by 2032 | Get Customized Reports

The On-Demand Laundry Service Market is likely to hold the global market at a moderate CAGR of ~30.4% during the forecast period. The global market holds a forecasted revenue of ~US$ 25.5 Billion in 2022 and is likely to cross ~US$ 362.51 Billion by the end of 2032.

Changing evolution of customer lifestyle and adoption of the luxury lifestyle by people has changed trends pertaining to the laundry industry. During the past decades the laundry industry has witnessed a significant growth in terms of value which in turn has fueled growth of the services related with it.

An estimate of 50 pounds of laundry per week is washed by average household. Moreover, this number is expected to increase during the forecast period due to increasing busyness of life and increasing urbanization. On other hand, launching of app platform for on-demand laundry services is positively influencing the sales of key players in terms of value.

The commercial segment including hotels, restaurants and others are likely hold a significant share in the global on-demand laundry service market due to continues advancement in their hospitality services. Moreover, residential segment in the on-demand laundry service market is witnessing a significant growth due to increasing disposable income and increasing customers spending on apparels.

Global On-Demand Laundry Service Market: Market Dynamics

Drivers for On-Demand Laundry Service Market

Increasing urbanization, increasing disposable income & increasing customer purchasing power, increasing smart city projects across the world are some of the factors driving the growth of the on-demand laundry services market. Moreover, with addition of allowances in the employee’s salary, they are more likely to purchase on-demand laundry services which in turn is expected to fuel growth of the on-demand laundry service market during the forecast period.

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Trends for On-Demand Laundry Service Market

Key players in the market are principally engaged in expansion of their business through launching of on-demand laundry service apps and websites. This trend is positively influencing growth of the on-demand laundry service market. On other, players are continuously addition services such as home pickup & delivery, urgent laundry services and others to compete the global on-demand laundry service market.

Opportunities for On-demand laundry service Market

Transportation and logistics players such as Uber are penetrating in the on-demand laundry service market due to increasing demand from the customer side.

Challenges for On-demand laundry service Market

New entrance in the market are expected to face challenges such as high capital investment, logistics issues and others. Moreover, winning trust of the customers is one of the key factor that a new company need to keep in mind while penetrating in the untapped on-demand laundry service market.