Laundry industry projected to hit $3bn by 2034

Nigeria’s laundry and hygiene industry is projected to reach $3bn by 2034, with growing demand for professional services and innovative solutions driving its expansion.

This forecast was shared by the Chairman of the Fabric Professionals and Dry Cleaners Association, Enibikun Adebayo, during a masterclass organised by the CleanAce Foundation and Academy in collaboration with LG in Lagos recently.

Adebayo highlighted that the industry, currently valued at around N1.8bn, had vast potential.

“The laundry industry is valued at about $1.8bn in 2024 and expected to grow to approximately $3bn in the next 10 years. We are bringing a professional outlook to the industry, encouraging more people to consider careers in fabric care,” he said.

Adebayo also called for increased government support, particularly in funding, to help entrepreneurs access the necessary equipment and resources.

He noted that with the right backing, the laundry industry could create significant employment opportunities and contribute to the country’s economic development.

While Adebayo focused on the industry’s potential and the need for government support, Commercial Laundry Officer for LG Electronics West Africa, Samuel Odenusi, emphasised the role of technology in boosting the sector.

Odenusi pointed to LG’s advanced laundry equipment and their collaboration with CleanAce to provide training for aspiring entrepreneurs.

“With LG’s cutting-edge laundry systems, we aim to equip businesses with the right tools to improve efficiency and customer service,” Odenusi said.

The partnership between LG and CleanAce aims to introduce smart laundry technology to business owners, helping them improve operations and reduce costs.

Odenusi added that digital solutions were key to the sector’s growth, particularly as urbanisation fuelled the demand for more efficient laundry services.