Valued to be $10 Billion by 2026, Home Cleaning Services Slated for Robust Growth Worldwide

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Edition: 3; Released: February 2022
Executive Pool: 971
Companies: 158 – Players covered include Handy Technologies, Inc.; Jani-King, Inc.; Maid Brigade; MaidPro; Merry Maids LP; Molly Maid; The Cleaning Authority; The MAIDS International; Tidy Services, Inc.; USA Clean Master; and Others.
Coverage: All major geographies and key segments
Segments: Segment (Home Cleaning Services)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; 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 the Year 2026
Consumer demand for residential cleaning services is increasing at a significant rate owing to the growing number of households with dual-incomes. Such a high growth in demand is increasing the number of professional residential cleaners in the marketplace. Being a pressing health concern, allergies remain one the primary drivers behind rising demand for home cleaning services. The factor is also playing an important role in increasing the uptake of natural, green cleaning solutions on the expense of traditional products that are based on chemicals known to aggravate allergies. In the recent years, a large number of companies offering home cleaning services have started embracing green cleaning solutions to help people with allergies. The industry’s growth is also augmented by notable expansion of the healthcare sector and the rising geriatric population. Seniors who need assistance with daily routine and healthcare needs are unable to clean their homes. These elderly people often rely on providers of cleaning services for their homes. The phenomenal growth exhibited by the home cleaning services industry can also be credited to continuous expansion of the commercial real-estate sector. The need for consistent care and cleaning for commercial properties is presenting massive business opportunities for cleaning service providers.

Amid the COVID-19 crisis, the global market for Home Cleaning Services estimated at US$7.5 Billion in the year 2022, is projected to reach a revised size of US$10 Billion 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 introduction of advanced products and specialized services, the scenario is prompting companies to focus on diversification and sustainable options. Though there could be considerable headwinds of healthcare and economic crises in the short-term, the long-term growth prospects of the residential cleaning services industry seem bright. In several countries demand for cleaning services witnessed an atypical surge, which led to a significant rise in price of the services. The pandemic restrictions imposed also provided market participants to slow down and upgrade skills. Current situation also prompted service providers to reassess their inventory and supply chains so as to be in a better position to serve the new demand.

The U.S. Market is Estimated at $1.6 Billion in 2022, While China is Forecast to Reach $1.4 Billion by 2026
The Home Cleaning Services market in the U.S. is estimated at US$1.6 Billion in the year 2022. The country currently accounts for a 22.3% share in the global market. China, the world’s second largest economy, is forecast to reach an estimated market size of US$1.4 Billion in the year 2026 trailing a CAGR of 13% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7% and 7.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.4% CAGR while Rest of European market (as defined in the study) will reach US$1.5 Billion by the end of the analysis period. The US has witnessed increasing participation of women in the workforce over the past few decades. While the trend has resulted in higher income levels, majority of these families find little time for housecleaning, enabling residential housecleaning to register a fast growth rate. In the developing Asia-Pacific markets, the increasing affluence of the ballooning middle class population is a key growth driver. More

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SOURCE Global Industry Analysts, Inc.