India Laundry Service Market to Witness Double Digit CAGR During Forecast Period

Rising disposable income and hectic working schedules to drive India laundry service market during forecast period

According to TechSci Research report, “India Laundry Service Market By Sector, By Business Type, By Service, By End User, By Payment Method, Competition, Forecast & Opportunities, 2024”, India laundry service market is anticipated to grow at a double digit CAGR during the forecast period on account of increasing per capita income, emergence of smartphones and rise in the working population. Doing laundry was considered as a time-consuming chore and growing prevalence of on-demand laundry services are driving the growth of the market. On-demand laundry start-ups have started delivering dry cleaned and washed clothes at doorstep with the assistance of local washermen in the area. Factors like nominal capital required, no-entry barriers and good returns associated with the laundry make it a profitable market. However, shortage of skilled labor and low margins associated with business can hinder the growth of the market.

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India laundry service market can be segmented based on sector, business type, service, end user, payment method and region. In terms of sector, 95% of the market is unorganized, whereas 5% in the market is organized owing to the emergence of on-demand laundry service. On the basis of payment method, the market can be bifurcated into cash and online. Online is the preferred payment method for paying on these apps as they offer cashbacks or discounts.

Major players operating in the laundry service market include Laundry Project Pvt. Ltd. (Wassup), Aap Ka Dhobi, PickMyLaundry, Urban Dhobi, Dirk Da Dhobi, Doormint, Tooler, Laundry Anna, Dhobilite, among others. Laundry start-ups are also adopting technologies like smartphone and IoT. Integration of smart meters in smart washing machine provides information pertaining to the load size, amount of detergent required, and time taken for laundry. The advent of such smart technologies is driving the growth of the laundry service market in India.

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“India laundry service market is anticipated to grow at a double digit CAGR in the next five years on account of increase in working couples leading to hectic schedules and emergence of laundry-based start-ups. Moreover, growing utilization of technology to serve customers in a better way is further driving India laundry service market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“India Laundry Service Market By Sector, By Business Type, By Service, By End User, By Payment Method, Competition, Forecast & Opportunities, 2024” has analyzed the potential of laundry service market across the country, and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by India laundry service market.

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