A Giant Industry in the making, how tides are about to change for the humble neighbourhood laundries

01.11.23 11:48 AM Comment(s) By usertraining3

Time and again you probably have bumped across many riveting detergent advertisements that was hard to escape. But have you ever wondered about the massive scale of this industry. According to market research agency, The Nielsen Company, the market size of fabric cleaning which includes detergents, powders, pre-post wash, soap cakes is Rs.12,118 crore & 2,877,587 tonnes respectively and this testifies to the massive scale of this industry that is spreading its tentacles like never before.  And this is not the whole picture, it is just a glimpse of its enormity.

Actually, the lifestyle of people has gone through massive transformation. Everyone is on the go that a 24- hour -long day is turning out to be insufficient for everyone especially millennials . In midst of hectic, fast and furious life one is not able to carve out time for some daily chores such as washing clothes. Especially, our tech savvy millennials who are engrossed in multitudes of things at once, finds it little difficult to do things offline. And thus this lacunae is now being filled up my many cropping up ventures. Now getting your clothes washed is just a click away- thanks to many online apps that have tried to bridge the gap between shrinking time and human needs.

Having a closer look into this industry reveals that this is the industry that is on an upward spiral. According to Euro monitor International, this laundry market has recorded growth up to $76 billion in 2018. And it is consistently growing at a rapid pace. According to many reports the laundry market in India is going to grow at compound annual growth of 5 per cent during 2018-2023 and the fundamental premise of this terrific growth is consumer demand. Even if we will look at the rate of washing machine penetration in India that is also growing by leap and bounds. And thus giving a fresh impetus to detergent consumption in India.

Also, the value of the laundry industry stands at Rs 2,20,000 crore in India. And with this huge worth, the unorganised segment constitutes 3 per cent of this entire industry with the worth of Rs 5000 crore. With exponentially rising number of online laundry apps, variety of detergents getting launched in the market and rising penetration of washing machines in the rural part of India alludes to the brighter days of this industry, awaiting them.

Now, with the brighter days looming large in front of this industry it would be interesting to see what course it takes and how fastly it changes the status quo.

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