Valued at $ 10 billion by 2026, home cleaning services are expected to experience robust growth globally
SAN FRANCISCO, October 5, 2021 / PRNewswire / – A 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 perspectives on the opportunities and challenges in a dramatically transformed post-COVID-19 market.
FACTS AT A GLANCE
Editing: 2; Posted: September 2021
Executive pool: 971
Companies: 158 – Players covered include Handy Technologies, Inc .; Jani-King, Inc .; Maid’s brigade; MaidPro; Merry Maids LP; molly maid; The Cleaning Authority; MAIDS International; Storage Services, Inc .; United States Clean 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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ABSTRACT-
Global Home Cleaning Services Market To Reach US $ 10 billion by 2026
Consumer demand for residential cleaning services is increasing at a significant rate due to the increasing number of dual income households. Such growth in demand increases the number of professional home cleaners in the market. Being an urgent health concern, allergies remain a major driver of the growing demand for home cleaning services. The factor also plays an important role in increasing adoption of natural and environmentally friendly cleaning solutions at the expense of traditional products made with chemicals known to worsen allergies. In recent years, a large number of companies offering home cleaning services have started adopting green cleaning solutions to help people with allergies. The growth of the industry is also enhanced by the notable expansion of the healthcare sector and the increase in the geriatric population. Seniors who need help with daily routine and health care needs cannot clean their homes. These elderly people often use cleaning service providers for their accommodation. The phenomenal growth of the home cleaning services industry can also be attributed to the continued expansion of the commercial real estate industry. The need for constant maintenance and cleaning for commercial properties presents huge business opportunities for cleaning service providers.
In the midst of the COVID-19 crisis, the global home cleaning services market estimated at 5.6 billion US dollars in 2020, is expected to reach a revised size of US $ 10 billion by 2026, with 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 companies to focus on diversification and sustainable options. While there may be significant headwinds related to healthcare and short-term economic crises, the long-term growth outlook for the residential cleaning services industry looks bright.
The US market is estimated at $ 1.5 billion in 2021, when China is expected to reach $ 1.4 billion by 2026
The home cleaning services market in the United States is estimated at US $ 1.5 billion in 2021. The country currently represents a 22.3% share of the world market. China, the world’s second-largest economy, is expected to reach an estimated market size of 1.4 billion US dollars during the year 2026, with a CAGR of 13% during the analysis period. Other notable geographic markets include Japan and Canada, each projects growth of 7% and 7.6% respectively over the period of analysis. In Europe, Germany is expected to grow by 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 increasing participation of women in the workforce over the past decades. Although the trend has resulted in higher income levels, the majority of these families find little time for the household, which allows the residential household to register a rapid rate of growth. In development Asia Pacific markets, the growing wealth of the burgeoning middle-class population is a key growth engine. Following
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