Global Silk Market – Industry Trends and Forecast to 2030

Silk Market Analysis and Size

Over the last few years, there has been immense growth in the textile industry due to which silk has witnessed increased demand over the forecast period. Additionally, the silk market requires less investment because it does not require complex machines and equipment to produce. It is more labor-intensive than investment-intensive industries. These factors contribute to the market's expansion.

Data Bridge Market Research analyses that the global silk market was valued at USD 432.65 million by 2022 and is expected to reach the value of USD 771.62 million by 2030, at a CAGR of 8.30% during the forecast period of 2023 to 2030. “Textile segment” dominates the application segment of the global silk market part owing to its remarkable features such as lightweight fabric, luxury, and great strength. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Silk Market Scope and Segmentation

Market Definition

Silk is a natural fibre that is obtained from cocoon of silk worms. Thus, the process of growing silk worms to obtain and produce silk is called sericulture. In the past, silk was used to make parachutes but now it is used to make clothes. The protein fibre of silk is composed of fibroin. The best silk is obtained from cocoons of the larvae of a mulberry silkworm Bombyx mori. Real silk is very expensive as it takes around 10,000 cocoons to obtain that quality of silk. Silk can also be employed in unexpected ways such as bicycle tires, medicine and so on. Summer is the best weather to wear silk because of its absorbent nature and has low conductive properties. Silk offers comfort, is extremely soft and adds elegance. Textile has emerged to be the quickest and the largest application of silk. The mulberry silk has dominated the market and will continue to flourish on the basis of worth and volume.

Global Silk Market Dynamics

Drivers

• High Demand Across Textile Applications

Silk's fastest-growing application is textile. Silk is an important component of the textile industry, which is constantly expanding and changing in terms of demand and supply. Silk is used in textiles because of its lustre, luxurious feel, lightweight, resilience, and strength. It is used in many different types of clothing, including wedding gowns, gowns, blouses, scarves, and neckties, as well as pillows, wall hangings, draperies, and upholstery.

Furthermore, the absorbency of silk makes it very comfortable to wear, especially in hot weather. During cold weather, its low conductivity keeps warm air close to the skin. Silk is increasingly being used in clothing such as shirts, ties, formal dresses, high fashion clothes, lingerie, pajamas, robes, dress suits, sun dresses, and kimonos. Silk is also used in India to make sarees, which are a traditional outfit.

Opportunity

• Development and Advanced Products

Furthermore, the rapid development of the silk industry as fewer funds are required for production further extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the increasing development of technologically advanced products by manufacturers in sericulture further expand the future growth of the global silk market.

Restraint/Challenge

• High Material Costs

Silk is one of the basically very expensive material. Additionally, silk clothes are not easy to clean as they usually need to be dry cleaned. Moreover, it can get damaged by excessive sun and water exposure. This makes it all the more expensive for the ultimate consumers. The overall high cost of silk will create hindrances for the growth of the global silk market.

This global silk market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global silk market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth. 

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Silk Market Scope

The global silk market is segmented on the basis of production process, type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Production Process

• Conventional Cocoon Production
• Reeling
• Throwing
• Weaving and Dyeing

 Type

• Mulberry Silk
• Tussar Silk
• Eri Silk
• Spider Silk

Application

• Textile
• Cosmetics and Medicine

Global Silk Market Analysis/Insights

The global silk market is analyzed and market size insights and trends are provided by country, production process, type, and application as referenced above.

The countries covered in the global silk market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America leads the global silk market to the rapid expansion of the textile industry in the region. The region is home to all of the major industry players, making it a hub for the global silk market.

Asia-Pacific dominates the market in terms of market share and market revenue and will continue to flourish its dominance over the forecast period 2023-2030. The market growth in this region is attributed to the high demand for silk products and raw materials from China and India within the region. North America on the other hand, is estimated to show lucrative growth over the forecast period.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Silk Market Share Analysis

The global silk market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global silk market.

Some of the major players operating in the global silk market are:

• Anhui Silk (China)
• Eastern Silk Industries Ltd. (India)
• ERIS GLOBAL (India)
• Wujiang First Textile Co., Ltd. (China)
• Kraig Biocraft Laboratories, Inc. (U.S.)
• Zhejiang Jiaxin Silk Co., Ltd. (China)
• Ongetta srl (Italy)
• Sichuan Nanchong Liuhe (Group) Corp. (China)
• ShengKun Silk Manufacturing Co., Ltd. (China)
• Jiangsu Sutong Cocoon & Silk Co. (China)
• Wensli (China)
• Wujiang Wanshiyi Silk Co. Ltd. (China)

SKU-13075