Self Service Laundromat Statistics: $17.5 Billion & Growing
The global self service laundromat market size was valued at $17.55 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.3% from 2023 to 2030.
Laundry is time-consuming and has become a burden for people, especially the working-class population. Time constraints due to increasing work pressure and hours restrict people from often doing their laundry. The working-class population has significantly increased over the past few years, contributing to the rising demand for coin-operated laundries due to their convenience. The rapidly increasing working women population worldwide mainly drives market expansion.
Key consumers of these services include millennials, college graduates, and working professionals. Additionally, boarding schools, colleges, and hostels are some of the other potential customers for online service providers. Laundry services in developing countries, such as India and South Africa, are primarily catered by the unorganized sector. Improvements in the standard of living and rising disposable income levels in such economies are expected to drive the market during the forecast period.
Moreover, increasing internet penetration in developing countries, such as India and China, has driven the market for online services. With the rising number of double-income households, the purchase of expensive and delicate fabric apparel has increased. Thus, the abovementioned factors are expected to drive industry expansion over the coming years.
With improving living standards globally, millennials and the working class are becoming more health-conscious. Selectiveness with regards to apparel, household linen, and furniture has increased greatly. Customers prefer buying and wearing more expensive, clean, and well-ironed apparel. Over the past few years, spending on clothes has significantly increased, raising the demand for laundry services. Although conventional coin-operated laundries are available globally, they have limited applications, which has created new avenues for coin-operated laundries.
The younger population, millennials, and the working class are attracted to these coin-operated laundries owing to their highly convenient features, such as round-the-clock service, doorstep pickup and delivery, and complete service within 24 hrs. Moreover, service providers offer heavy discounts to customers, especially during the first service. These benefits are increasing the adoption of coin-operated laundries.
Source: Grandview Research
