Press release
Cloth Drying Products Market Projected To Reach USD 3,697.85 Million and Growing at a CAGR of 4.8% by 2028
Moreover, the number of single-member households is also increasing in metro cities. Owing to these factors, the number of small apartments and residences is increasing in urban areas. People living in small apartments are therefore looking for multi-functional and flexible home products that fit into compact spaces and provide a spacious and uncluttered look.
Cloth drying products, such as drying racks and wall-mounted dryers, can be accommodated in small spaces and are ideal for use in apartments. Thus, the rise of urban living has led to cloth drying products market growth.
Over the past few years, the preference for urban living has increased dramatically, with more and more people migrating from rural areas in search of employment, better education, and access to better healthcare facilities.
Urban living has become more popular due to demographic, socioeconomic, and cultural factors. However, with increasing urbanization, real estate values are skyrocketing. Residential spaces are shrinking daily due to the rising urban population and land values, while the number of working professionals in urban settings is increasing.
Due to their flexibility and affordability, wall-mounted cloth dryers are also becoming popular among urban and mid-income consumers. Wall-mounted dryers fit in smaller spaces and can carry a wash load of an entire family. They can be easily installed indoors or in balconies.
Moreover, they require less storage space as they are foldable. Manufacturers of wall-mounted dryers are launching products with innovative designs to attract a large number of customers. For instance, the Wallfix Wall-Mounted Dryer offered by Brabantia Branding B.V. has an umbrella design, which can carry an entire washing load of a family.
The dryer can be operated effortlessly only by one hand using the handle provided at the center. Thus, the increased innovation is expected to propel the cloth drying products market size.
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Impact of COVID-19 Pandemic on Cloth Drying Products Market
The COVID-19 pandemic had initially affected the global cloth drying products market due to the shutdown of manufacturing units, rising prices of raw materials, shortage of labor, disruption of supply chains, and financial instability.
Cloth drying products market is a part of the consumer goods industry. The industry's disruption due to the economic slowdown caused by the COVID-19 outbreak had restrained the demand for cloth drying products. However, businesses are gaining ground as previously imposed limitations have been eased across various countries. Moreover, the introduction of COVID-19 vaccines by governments of different countries has eased the situation, leading to the rise in business activities worldwide.
The pandemic has also collaterally resulted in the growth of several segments of the consumer goods industry post recovery from the production disruptions. The pandemic led people to stay at home for a long time, under quarantine or otherwise; this increased focus on household product consumption.
As people have been working from home, emphasis on enhancing indoors has been especially prevalent with the rise in consumption of products that contribute to convenient living. These factors also played an important role in the cloth drying products market post the COVID-19 outbreak.
Addis Housewares Ltd.; Brabantia Branding B.V.; Honey-Can-Do International LLC; Freudenberg Home and Cleaning Solutions GmbH; INTER IKEA SYSTEMS B.V.; JOMOO KITCHEN & BATH CO., LTD.; Julu Ltd.; RACKBUDDY; Vale Mill (Rochdale) Ltd.; Juwel; and Leifheit AG are the key players operating in the global cloth drying products market. These companies provide a wide range of product portfolios for the market. They have a widespread global presence, which provides a lucrative opportunity for the market to serve a large set of customers and increase the market share. These market players are highly focused on developing products with advanced technology platforms to serve their customers better.
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About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense, Food & beverage, Chemical and Materials, Semiconductors etc.
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