CATEGORY

Laundry Services

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CATEGORY ALERTS

Plant Shutdown

July 25, 2022
alert level: Low

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Laundry Services Market Monitoring Dashboard

Price Trend
1503.00
Nov-2022
USD/MT
History Forecast
Supply Demand

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Laundry Services Industry Benchmarks

Savings Achieved

(in %)

The average annual savings achieved in Laundry Services category is 6.50%

Payment Terms

(in days)

The industry average payment terms in Laundry Services category for the current quarter is 70.4 days

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Category Strategy and Flexibility

Engagement Model

Supply Assurance

Sourcing Process

Supplier Type

Pricing Model

Contract Length

SLAs/KPIs

Lead Time

Supplier Diversity

Targeted Savings

Risk Mitigation

Financial Risk

Sanctions

AMEs

Geopolitical Risk

Cost Optimization

Price per Unit Competitiveness

Specification Leanness

Minimum Order Quality

Payment Terms

Inventory Control

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    Laundry Services Suppliers

    1,219
    Total Suppliers
    15
    Diverse Suppliers
    78
    Normalized Supplier Rating
    Laundry Services Supplier

    Find the right-fit laundry services supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    CBRE GROUP INC.
    Location
    Jackson, Mississipi
    Duns number
    3862211
    D&B SER Rating
    dnb logo

    Up to 3 months

    1 9
    4
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile
    Company and Sector Performance
    42
    100
    Limited (1)
    ESG Perfomance (/100)
    Environment
    41
    Social
    37
    Governance
    52
    6 Domains Performance (/100)
    Business behaviour
    44
    Human rights
    43
    Community Environment
    22
    Corporate governance
    57
    Human resources
    38
    Security Scorecard
    62
    Threat indicators
    C
    70
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    F
    37
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    D
    68
    Application Security
    Detecting common website application vulnerbilities
    F
    48
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    B
    82
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    93
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked
    Industry Comparison
    cbre.us
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    6
    Human Rights Issues
    0
    Production Supply Chain Issues
    1
    Environmental Non Compliance Flags
    7
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    2
    Fraud Issues
    2
    Labor Health Safety Flags
    2
    Regulatory Issues
    0
    Workforce Disputes
    0
    Sanctions
    0
    esg energy transition
    30
    Discrimination Workforce Rights Issues
    2
    esg controversies critical severity
    No

    Laundry Services market frequently asked questions

    The global laundry services market is receiving major impetus from the healthcare sector, where the COVID-19 pandemic has underscored the need to ensure a safer and hygienic work ecosystem. Moreover, the vacancy rates have directly impacted the procurement of laundry services in the commercial realms. As such, declining vacancy rates are setting high hopes for laundry service providers.

    The global laundry services market is receiving major impetus from the healthcare sector, where the COVID-19 pandemic has underscored the need to ensure a safer and hygienic work ecosystem. Moreover, the vacancy rates have directly impacted the procurement of laundry services in the commercial realms. As such, declining vacancy rates are setting high hopes for laundry service providers.

    Considering the presence of several suppliers in the laundry services market, industry heavyweights are increasingly turning to innovative technologies to ensure greater interoperability among different laundry equipment and complete the tasks faster with limited resources. Furthermore, market players are going green with eco-friendly laundry chemicals and processes to remain compliant with the stringent regulatory framework and maintain their competitive edge.

    Considering the presence of several suppliers in the laundry services market, industry heavyweights are increasingly turning to innovative technologies to ensure greater interoperability among different laundry equipment and complete the tasks faster with limited resources. Furthermore, market players are going green with eco-friendly laundry chemicals and processes to remain compliant with the stringent regulatory framework and maintain their competitive edge.

    The demand for laundry services increased marginally despite the COVID-19 wrath, given rising health concerns among several companies and a greater focus on COVID-19 treatments at healthcare institutes. While the demand-supply gap was insignificant, the workforce shortage increased the turnaround time (TAT). Nevertheless, market players are unlikely to witness considerable slumps in their key markets.

    The demand for laundry services increased marginally despite the COVID-19 wrath, given rising health concerns among several companies and a greater focus on COVID-19 treatments at healthcare institutes. While the demand-supply gap was insignificant, the workforce shortage increased the turnaround time (TAT). Nevertheless, market players are unlikely to witness considerable slumps in their key markets.

    The global laundry services market revenue pegged $115.32 Bn in 2020, down by a 2.1% CAGR due to the COVID-19-induced stressors. By 2026, the global revenue pool will expand at a 7% CAGR, reaching $180 Bn.

    The global laundry services market revenue pegged $115.32 Bn in 2020, down by a 2.1% CAGR due to the COVID-19-induced stressors. By 2026, the global revenue pool will expand at a 7% CAGR, reaching $180 Bn.

    Beroe’s category intelligence report suggests laundry service providers continue to eye Asia Pacific (APAC), which holds about a third of the overall revenue, for lucrative growth prospects. While markets in Europe and North America have attained maturity, LATAM and MENA will remain the potential growth engines for laundry service vendors.

    Beroe’s category intelligence report suggests laundry service providers continue to eye Asia Pacific (APAC), which holds about a third of the overall revenue, for lucrative growth prospects. While markets in Europe and North America have attained maturity, LATAM and MENA will remain the potential growth engines for laundry service vendors.

    Laundry Services market report transcript

    Global laundry Services Industry Outlook

    • In 2020, the laundry services market was valued at $115.32 billion with a CAGR of (-2.1 percent) in 2020, due to COVID-19. The market is forecasted to grow at a CAGR of 7% percent to $180 billion by 2026. With the recent COVID-19 outbreak/challenge, the demand might shoot up in all the countries due to the urge the industries feel to keep up the work place and workwear clean and safe for their employees
    • APAC holds the 34-36% of the laundry market, North America, Europe have high market maturity
    • MENA and LATAM are expected to be the future growth-driving markets for laundry services

    Impact of COVID-19 on Laundry Services 

    Laundry services was slightly in more demand during the pandemic due to the health concerns of organisations as well as more focus on COVID-19 treatments at the hospitals. Supply demand gap was not huge but shortage of staff and increased turnaround time at places. The economic outlook is as uncertain as it could be at present, however from a cleanroom laundry perspective it seems unlikely that there will be major downturns in their key markets. While certain parts of the economy have been devastated others have been left unscathedorhave prospered. The key markets for cleanroom laundries at present fall into the latter category.

    • As businesses faced unexpected closures and are slowly opening across the globe post lockdown, demand has raised and the supply demand gap would eventually increase hampering the ongoing clinical researches
    • Laundry companies are overloaded by ongoing pandemic–leading to increasing supply demand gap of supplies, man power and equipment

    Laundry Services Market Global Drivers and Constraints  

    • Macroeconomic Background:High inflation rates in developing countries have a direct impact on the rising demand for wages. Rises in labor costs are crucial for the laundry services industry, as they drive costs in a direct proportion
    • Outsourcing versus Insourcing:Despite the difficult global economic conditions, outsourcing of laundry services is the preferred model, compared to performing such services in-house.

    Drivers

    • The global laundry industry continues to be profitable, mainly riding upon the growth of the healthcare industry and the recent COVID-19 pandemic has raised the need to create a safer work environment propelling the growth rate
    • Vacancy rates have a direct impact on procuring laundry services for commercial spaces. Vacancy rates are on the decline, providing the impetus for the laundry services industry•In a short period, new technologies, more interoperability among different laundry equipment and more suppliers in the market have resulted in higher growth. This evolution of laundry equipment's has become an advantage for laundry service in the retail industry, which helps them to complete the task in a short time with limited resources
    • Green laundry products (chemicals) and procedures will have a higher impact in the future. Hence, businesses should focus on going green and realizing the benefits therein

    Constraints

    • Labor costs generally represent 50-60 percent of total operational costs. In addition to the native workers, most of the labor are immigrants and the Regulations associated with such workers can play a major role in managing laundry services effectively in a particular country
    • Britain leaving the EU may have negative consequences on the labor supply and thereby poses a threat of increasing labor costs