The global economy has been severely affected by the continuing SARS-CoV-2 pandemic. However, the hundreds of millions of COVID-19 cases that have occurred so far have helped several sectors to grow, including the cleaning services industry.
With the pandemic’s wind beneath its wings, experts from GlobeNewswire believe this industry will continue to expand. In 2020, the global cleaning market was valued at $55.71 billion, and it’s expected to reach approximately $92.69 billion worldwide by 2027. Experts also forecast a solid compound annual growth rate of 7.80%.
The skyrocketing growth of the cleaning market in the US was also noted by the American Cleaning Institute (ACI), with officials describing it as a once-in-a-century opportunity for chemical-producing and cleaning service companies to flourish.
And while every market segment, both residential and commercial, is growing, the floor cleaning sector takes the lead.
Industry insiders from Market Research Future expect the floor cleaning sector to reach $14.45 billion by 2025. This was also the primary growth sector in 2020, contributing $12,293.8 million to the cleaning market.
A lot has changed in the cleaning habits and materials since the pre-pandemic times. Intense cleaning and all it encompasses are now a major focal point in the cleaning industry, which isn’t likely to change.
Online survey data shows that an impressive 41% of the US population have made their cleaning habits more rigorous after the pandemic outbreak. What’s more, both commercial and residential customers are becoming pickier about the cleaning products they use.
Antiviral properties of chemicals are a huge criterion among customers. Hence, consumers opt for reliable hardwood floor cleaners and more potent surface cleaners. Experts believe that the thorough-cleaning trend will be dominant throughout the next five years. That’s why they predict more success for those in the cleaning business.