Valued at $10 billion by 2026, home cleaning services are set to experience robust growth globally
SAN FRANCISCO, February 24, 2022 /PRNewswire/ — New market research published by Global Industry Analysts Inc., (GIA), the leading market research firm, today released its report titled “Home Cleaning Services – Global Market Trajectory and Analysis”. The report presents new insights into the opportunities and challenges in a significantly transformed post COVID-19 market.
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Editing: 3; Published: February 2022
Executive Pool: 971
Companies: 158 – Players covered include Handy Technologies, Inc.; Jani-King, Inc.; Maids Brigade; MaidPro; Merry Maids LP; Molly Maid; The Cleansing Authority; MAIDS International; Tidy Services, Inc.; United States Own master; and others.
Blanket: All major geographies and key segments
segments: Segment (Home Cleaning Services)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; UK; Spain; Russia; and rest of Europe); Asia Pacific (Australia; India; South Korea; and rest of Asia Pacific); Latin America (Argentina; Brazil; Mexico; and rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and rest of Middle East); and Africa.
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Global home cleaning services market to reach 10 billion US dollars by 2026
Consumer demand for residential cleaning services is growing at a significant rate due to the increasing number of dual income households. Such growth in demand increases the number of professional residential cleaners in the market. As an urgent health issue, allergies remain one of the main drivers behind the growing demand for home cleaning services. The factor also plays a significant role in increasing the adoption of natural and green cleaning solutions over traditional products made with chemicals known to aggravate allergies. In recent years, a large number of companies offering home cleaning services have begun to adopt green cleaning solutions to help allergy sufferers. The growth of the industry is also augmented by the notable expansion of the healthcare sector and the increase in the geriatric population. Elderly people who need help with daily routines and health care cannot clean their homes. These seniors often hire cleaning service providers for their homes. The phenomenal growth of the home cleaning services industry can also be attributed to the continued expansion of the commercial real estate sector. The need for constant maintenance and cleaning for commercial properties presents huge business opportunities for cleaning service providers.
Amid COVID-19 Crisis, Global Home Cleaning Services Market Estimated at US$7.5 billion in 2022, is expected to reach a revised size of 10 billion US dollars by 2026, growing at a CAGR of 9.6% over the analysis period. The pandemic has made sanitation more important than ever, exponentially accelerating the demand for residential cleaning services. In addition to fueling the introduction of advanced products and specialized services, the scenario encourages businesses to focus on diversification and sustainable options. While there may be considerable health headwinds and near-term economic crises, the long-term growth prospects for the residential cleaning services industry look promising. In several countries, the demand for cleaning services has experienced an atypical surge, which has led to a significant increase in the price of services. Pandemic restrictions have also allowed market participants to slow down and improve their skills. The current situation has also prompted service providers to reassess their inventory and supply chains to be in a better position to meet the new demand.
The US market is estimated at $1.6 billion in 2022, when China is expected to reach $1.4 billion by 2026
The home cleaning services market in the United States is estimated at US$1.6 billion in 2022. The country currently accounts for a 22.3% share of the global market. Chinaworld’s second largest economy, is expected to reach an estimated market size of US$1.4 billion in 2026 with a CAGR of 13% over the analysis period. Other notable geographic markets include Japan and Canada, each predicting growth of 7% and 7.6% respectively over the analysis period. In Europe, Germany is expected to grow at around 8.4% CAGR while the rest of the European market (as defined in the study) will reach US$1.5 billion at the end of the analysis period. The United States has seen an increase in women’s participation in the workforce over the past few decades. While the trend has resulted in higher income levels, the majority of these families find little time for housekeeping, allowing the residential household to register a rapid growth rate. in development Asia Pacific markets, the increasing affluence of the burgeoning middle class population is a key driver of growth. Continued
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