Recent Forecast Report Estimates Laundry & Cleaning Market to Grow 1.6% in 2016

Published on : Dec 06, 2016

Albany, New York, December 6, 2016: Market Research Hub has recently announced the addition of a latest report titled, “Home Retail Series: Laundry & Cleaning” to its report offerings. This research report is a part of Verdict Retails Home Retail Series, which provides expert insight into the laundry & cleaning market with forecasts of values & volumes up to 2021. It provides deep quantitative and qualitative insight especially into the UK market and analyzes key trends based on consumer data from Verdict Retails survey.

The report begins with the brief summary about the laundry & cleaning market along with retailer profiles including detailed look at the leading players, market shares, future outlook as well as consumer data with detailed look at how and where people are buying laundry & cleaning products. The UK economic recovery has encouraged demand for commercial and industrial laundry services. Also, commercial laundries are used by many markets including hotels and restaurants, hospitals & care homes, gyms & fitness clubs, cruise ships as well as student lodging. On the other hand, consumers have become busier, which has encouraged demand for laundry collection and delivery services. The laundry & cleaning market is expected to grow 1.6% in 2016 i.e. the highest rise in five years. The industry is further expected to grow at a moderate rate in the coming years, majorly driven by consumer spending habits and increasing cleaning services.

The retail market for laundry and cleaning has seen little growth since the start of the new era. Falling prices in the clothing market have encouraged consumers to replace rather than maintain or fix. Also, changes in fabric technology has led to a growing range of machine-washable formal wear, which previously had been susceptible on dry cleaning. However, many consumers still prefer to opt for a professional service. According to the report key findings, price and suitability are the major drivers of retailer selection. This way, players are able to absorb rising inflationary pressures over the next couple of years and for those who are opening new stores and investing in online fulfillment services will be better placed to maintain their share of spend on laundry & cleaning items.

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Furthermore, other services such as ironing and laundry services for domestic clients may provide more positive sales trends. Through this report, buyers will gain a greater knowledge of how cleaning & laundry brands along with manufacturers add style and innovation to the items for better results.

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