The gross output of Dry-Cleaning and Laundry Services in the US has shown a general upward trend from 2013 to 2023. However, there was a significant drop in 2020, likely due to the COVID-19 pandemic, with a decrease of 43.27%. The industry rebounded strongly in 2021 with a 62.75% increase. By 2023, the value stood at $32.41 billion, showcasing a moderate growth of 1.19% year-on-year. The 5-year CAGR for the period ending in 2023 was 1.27%.
Forecasts from 2024 onwards anticipate continued growth but at a slower pace. The industry is expected to reach $34.21 billion by 2028, reflecting a 5-year CAGR of 0.97%.
Future trends to watch for:
- Technological advancements in cleaning processes could drive efficiency and customer satisfaction.
- Sustainability and eco-friendly practices are becoming increasingly important to consumers.
- Demand fluctuations due to changes in remote work and lifestyle habits post-pandemic.
- Potential consolidation within the industry as larger players may acquire smaller providers to scale operations.
