Thanks to the continued demand for laundry and dry-cleaning services in the United States, the U.S. laundry facilities and dry-cleaning market is expected to grow to $16.1 Billion by 2030.
The huge growth can be directly attributed to the internet, and on-demand laundry services which have made it easier than ever before for consumers to get their laundry done.
With the market anticipated to grow at a CAGR of 4.5% from 2022 to 2030, investors to shifting their focus to laundromats, and on demand laundry services, as traditional investments continue to produce subpar results.
The Sky Is the Limit?
Yes, many investors feel that the sky is the limit for the laundry industry, especially as more people are renting than ever before and like anyone, the average renter needs clean clothes and the first place that they will look to get their laundry done is their local laundromat.
Besides the increase in demand for laundry services nationwide, technology-enhanced equipment is also another factor that’s leading the growth of the laundry market as services smart laundry machines will notify consumers when their loads are done and accept their payments with a cashless transaction.
Smart laundry machines also use less water and electricity than other laundry machines of the past and that’s encouraging news, especially in states like California where they have some of the highest energy costs in the nation.
Corporate Clients Lead to Fast Laundry Business Growth
Another key factor that’s leading the growth of the laundry industry nationwide is corporate clients like universities, schools, government agencies and resorts.
These clients have had a huge need for laundry services in recent years, especially as most industries have gone back to work following Covid-19 and resumed business as usual.
Laundry businesses that take on corporate clients can expect to see the growth of their businesses accelerate as they meet the demand of those clients while offering excellent service and support.
As we approach the mid 2020’s, the good news for the U.S. laundry market is that there is plenty of opportunity for investors and laundry businesses of all shapes and sizes because clean laundry is a service that everyone needs.
By Jeremy Raglin, Content Writer