Amid the COVID-19 crisis, the global contract cleaning services market estimated at US$251.3 billion in 2020 is expected to reach a revised size of US$329.4 billion by 2026, with a growing at a compound annual growth rate (CAGR) of 4.8% over the analysis period.
According to the Contract Cleaning Services – Global Market Trajectory & Analytics report offered by Research and Markets, the floor and carpet cleaning segment is expected to register a CAGR of 5% and reach $110.9 billion by the end of the period. analysis.
After a thorough analysis of the business implications of the pandemic and the induced economic crisis, the growth of the window cleaning segment is readjusted to a revised CAGR of 4.8% for the next seven-year period.
The contract cleaning services market in the United States is estimated to be worth $75.8 billion in 2021. China is expected to reach a projected market size of $66.5 billion by 2026, lagging behind a CAGR of 6.2% over the analysis period.
Other notable geographic markets include Japan and Canada, each forecasting growth of 3.5% and 4.1% respectively over the analysis period.
In Europe, Germany is expected to grow around 4.4% CAGR. The report showed that growing customer awareness of the benefits of the sustainability of their facilities and the well-being of their employees is driving increased demand for contract cleaning services.
The report states that companies around the world are placing greater emphasis on creating healthier work environments for their employees, as a healthy workplace holds significant potential for improving productivity. Outsourcing these space cleaning services also frees up a lot of time for organizations, which they can use to strengthen their core business. The two main advantages of outsourcing cleaning services to dedicated service providers are ease of management and cost effectiveness.
Another notable trend in the market is the growing adoption of sustainably produced cleaning products. Several vendors currently offer green cleaning services using green products derived from biodegradable, non-toxic, and natural materials. These green products are likely to shape the wallets of service providers in the years to come.