Silk Market – Global Industry Analysis and Forecast (2022-2029) by Product, Application and Region

Silk Market size was valued at US$ 16.86 Bn. in 2021 and the total revenue is expected to grow at 7.6 % through 2022 to 2029, Global Silk market is reaching nearly US$ 30.29 Bn. by 2029.

Silk Market Overview:

Silk is a natural protein fiber that is primarily made up of fibroin and is produced by some insect larvae in order to form cocoons. Sericulture is the process of producing silk through the cultivation of silkworms. The Top Exporter of silk all over the globe is china (the US $ 945 Mn) and the top Importer is Italy (US $ 322 Mn), silk ranks 50th in the product complexity index. Silk's gleaming appearance is due to the triangular prism-like structure of the silk strand, which allows silk material to refract incoming light at various angles, resulting in various hues. Silk is used in medical and cosmetics applications in addition to the textile industry. Silk MarketTo know about the Research Methodology :- Request Free Sample Report  

Silk Market Dynamics:

Silk makes up a tiny fraction of the global textile fiber market, accounting for less than 0.2 %. However, this statistic is deceiving, as the actual trading value of silk and silk goods is significantly higher. This is a multibillion-dollar industry, with raw silk costing about twenty time’s as much as raw cotton, the China National Silk Import and Export Corporation alone has an annual turnover of US$ 2-2.5 billion. Unlike some other fabrics, silk has a lengthy history of use and demand. India is a notable example, where local demand for outnumbers supply (and hampers export growth). Despite the fact that it is currently the second-largest producer of raw silk, India has become the major importer. Other silk producers, such as those in China, are seeing rapid growth in domestic demand as customers become more able to afford lower-cost silk products. In Viet Nam, this pattern is predicted to repeat itself. Silk production does not necessitate expensive machines or equipment, thus it requires minimal investment. In comparison to investment-intensive sectors, it requires more manpower. These factors contribute to the market's growth. The silk market is growing because of high demand from the textile, cosmetics, and medicinal industries. The excessive cost of raw silk severely restricts the silk market. Silk demand will be increased by rising silk demand in the textile industry, changing fashion trends, and rising purchasing power in developing countries. The developing nations, particularly China and India, will be the principal growth drivers of the global silk market, with both rising in double digits. In the next few days, China will become a large garment market, while India will be the second most appealing apparel market. Silk is a 100% natural fabric, making it a completely environmentally friendly product. It's also an all-weather fabric that's skin-friendly, long-lasting, and healthful. As a result of the burgeoning textile sector in developing nations, which is increasing people's spending power and the user-friendly qualities of silk, silk consumption is expected to grow faster than other material kinds. The global silk industry will most certainly be hampered by its increased reliance on Chinese raw materials and the high cost of silk compared to other materials. Global Silk Market Segment Analysis: the Silk market is segmented into Product and Application. Based on Product, the market is sub-segmented into Mulberry silk, Tussar silk, Eri silk, and others. Mulberry silk has the highest market share during the forecast period. Because of its flexibility, great strength, and durability, mulberry silk is likely to lead the worldwide silk market. Mulberry silk is one of the most well-known and widely used types of silk. Mulberry silk is commonly used in the production of scarves, gowns, blouses, clothing, and wedding gowns, as well as in the interior design of draperies, cushions, and wall hangings. Fabrics, handicrafts, and stitched garments are all made with Tussar silk products as the basic material. Tussar silk is used by fashion designers in their works. Eri silk was primarily employed in the creation of men's and women's winter shawls. Eri silk's thermal characteristics make it an ideal fabric for shrugs. Based on Application, the market is sub-segmented into Textile, Cosmetics, Medical, and others. Silk's fastest-growing application is in textiles. Silk is a significant factor of textile manufacturing, which is continually growing and changing in terms of demand and supply. Silk is used in textiles because of its shiny appearance, sumptuous feel, lightweight, strength, and resilience. It's used in a variety of products, including wedding gowns, gowns, blouses, scarves, and neckties, as well as cushions, wall hangings, draperies, and upholstery.

Silk MarketSilk Market Regional Analysis:

Italy and France - Italy has long been Europe's major importer, processor, and exporter of silk products. Italy imported nearly 300 tonnes of women' blouses, with China accounting for almost 80% of the total. Imports of silk garments, on the other hand, have plummeted in the last five years. Italy is well-known for its highly developed silk processing expertise (finishing, dyeing and printing silk fabrics). Another country with a significant silk processing sector is France. Lyon has been producing high-quality silk fabrics for both home and international demand for generations. In the French market, more than 70% of silk materials are typically used for garments. Silk appears to be gaining popularity for usage as curtains, wall coverings, bed spreads, and upholstery in interior design. France sells high-end silk fabrics to the United States, with unit prices as high as $30 per m2. United States - Imports include clothes, interior décor materials, and accessories, and the US market is one of the worlds largest. Unlike Europeans, Americans do not have a lengthy history of wearing silk. As a result, silk has never had the same allure as it does in Europe. The United States was a pioneer market for imported Chinese knitted silk products, initially primarily warm underwear but now also exquisite casuals such as T-shirts, polo neck sweaters, and other items. In the United States, easy maintenance is a "must," so it's critical to produce materials that are easy to maintain. Germany - The greatest European market for textiles and garments, including silk, is Germany. Natural fibres are preferred by German consumers. Germany imports a wide range of silk clothes, accessories (especially silk pillow coverings), and materials for interior décor. China is the main source of silk clothes. With their handloom silk textiles for home furnishings, India and Thailand have had some success in this sector. The market values quality and is willing to pay a higher price for it. The objective of the report is to present a comprehensive analysis of the global Silk market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Silk market dynamics, structure by analyzing the market segments and project the global Silk market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Silk market make the report investor’s guide.

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Global Silk Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 16.86 Bn.
Forecast Period 2022 to 2029 CAGR: 7.6% Market Size in 2029: US $ 30.29 Bn.
Segments Covered: by Product • Mulberry silk • Tussar silk • Eri silk • Others
by Application • Textile • Cosmetics • Medical • Others

Global Silk Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Global Silk Market Key Players

• Wujiang First Textile Co., Ltd. • Anhui Silk • Shengkun Silk Manufacturing Co., Ltd. • Zhejiang Jiaxin Silk Co., Ltd. • AM Silk GmbH • China Silk Corporation • Jinchengjiang Xinxing Cocoon Silk Co., Ltd. • Bolt Threads Inc. • Kraig Biocraft Laboratories, Inc. • Entogenetics Inc • Wensli Group Co. Ltd. • Sichuan Nanchong Liuhe • Wujiang Wanshiyi Silk Co. Ltd. • Silk India international Ltd. • Global Silk Mills Pvt. Ltd. Frequently Asked Questions: 1) What was the market size of Global Silk Market markets in 2021? Ans - Global Global Silk Market was worth US$ 16.86 Bn in 2021. 2) What is the market segment of the Silk Market? Ans -The market segments are based on Product and Application. 3) What is the forecast period considered for Global Silk Market? Ans -The forecast period for Global Silk Market is 2022 to 2029. 4) What is the market size of Global Silk Market markets in 2029? Ans – Global Silk is estimated as worth US$ 30.29 Bn.
1. Global Silk Market: Research Methodology 2. Global Silk Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Silk Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Silk Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-17.6 Impact 4. Global Silk Market Segmentation 4.1. Global Silk Market, by Product (2021-2029) • Mulberry silk • Tussar silk • Eri silk • Others 4.2. Global Silk Market, by Application (2021-2029) • Textile • Cosmetics • Medical • Others 5. North America Silk Market (2021-2029) 5.1. North America Silk Market, by Product (2021-2029) • Mulberry silk • Tussar silk • Eri silk • Others 5.2. North America Silk Market, by Application (2021-2029) • Textile • Cosmetics • Medical • Others 5.3. North America Silk Market, by Country (2021-2029) • US • Canada • Mexico 6. European Silk Market (2021-2029) 6.1. European Silk Market, by Product (2021-2029) 6.2. European Silk Market, by Application (2021-2029) 6.3. European Silk Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Silk Market (2021-2029) 7.1. Asia Pacific Silk Market, by Product (2021-2029) 7.2. Asia Pacific Silk Market, by Application (2021-2029) 7.3. Asia Pacific Silk Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Silk Market (2021-2029) 8.1. Middle East and Africa Silk Market, by Product (2021-2029) 8.2. Middle East and Africa Silk Market, by Application (2021-2029) 8.3. Middle East and Africa Silk Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Silk Market (2021-2029) 9.1. Latin America Silk Market, by Product (2021-2029) 9.2. Latin America Silk Market, by Application (2021-2029) 9.3. Latin America Silk Market, by Country (2021-2029) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Wunjiang first textile 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Anhui Silk 10.3. Shengkun Silk Manufacturing Co., Ltd. 10.4. Zhejiang Jiaxin Silk Co., Ltd. 10.5. AM Silk GmbH 10.6. China Silk Corporation 10.7. Jinchengjiang Xinxing Cocoon Silk Co., Ltd. 10.8. Bolt Threads Inc. 10.9. Kraig Biocraft Laboratories, Inc. 10.10. Entogenetics Inc 10.11. Wensli Group Co. Ltd. 10.12. Sichuan Nanchong Liuhe 10.13. Wujiang Wanshiyi Silk Co. Ltd. 10.14. Silk India international Ltd. 10.15. Global Silk Mills Pvt. Ltd.

About This Report

Report ID 26259
Category Consumer Goods & Services
Published Date Feb 2019
Updated Date Sept 2022
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