The global silk market revenue was around US$ 16.87 billion in 2022 and is estimated to reach US$ 34.2 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.2% during the forecast period from 2023 to 2031.
Silk is one of the luxurious fabrics and shimmering textiles that is attaining huge popularity worldwide. The shiny appearance, plush feel, strength, resilience, and lightness of silk fiber are only a few of its essential characteristics. It is widely utilized in various kinds of clothing, such as wedding gowns, scarves, and neckties, as well as in many domestic items, such as pillows, wall hangings, draperies, and upholstery.
Market Driving Factors
High demand across textile applications propels market growth. Silk is an important element of the textile industry, which is continually changing and expanding in terms of demand and supply. In addition, silk is utilized in textiles because of its lightweight, luster, resilience, luxurious feel, and strength. It is utilized in various kinds of clothing, including blouses, wedding gowns, neckties, scarves, draperies, and wall hangings.
The emergence of technical advancements in sericulture is estimated to boost the market expansion. Sericulture has experienced an effective transition as a result of the latest technologies that could have an impact on the various features of silkworms emerging from the biotechnology field. In addition, silk is an excellent biomaterial for a wide range of medical applications and technology because of its special qualities, including elasticity, strength, biocompatibility, biodegradability, and mechanical robustness related to several biomedical uses.
Fluctuation of silk material cost hamper the market growth.
Regional Analysis
Asia-Pacific is predicted to dominate the market. This is due to the highly competitive and leading players in the market preferring multiple strategies to garner a prominent share in the region. Countries such as Thailand, India, Uzbekistan, and China are the key players of silk in the region. Furthermore, the demand for silk is particularly attributed to the increasing population worldwide along with a surge in the number of startups with their novel innovations.
North America dominates the market. This is due to the surge in investments being made in the industry as silk is recognized as the finest fiber among others. Progress in silk quality has been a main factor in promoting the market in the region.
Furthermore, the fast-paced fashion industry expansion in this region, particularly the United States silk sector has led to substantial growth. This has allowed to an expanding market space for the silk market in this region. In addition, significant garment businesses are choosing silk material as their primary resource for producing products, growing their existing product line in the region.
Segmentation Insights
Type Insight
The mulberry segment is estimated to dominate the market during the forecast period. This is because mulberry silk is one of the greatest quality silks. It is one of the most delicate natural silk that nourishes the skin. Furthermore, mulberry silk has hypoallergenic and antibacterial properties and can treat skin diseases like atopic dermatitis. It is in high demand in the international market due to these distinctive qualities.
End User Insight
The textile segment dominates the market. Textile is the primary end-use industry for silk owing to its excellent features such as great strength, lightweight fabric, and luxury. In addition, silk plays an important role in the production of parachutes, surgical sutures, clothing, and silk comforters. Therefore, it is projected to boost the segment.
Prominent Companies
Segmentation Outline
The global silk market segmentation focuses on Type, End User, and Region.
By Type
By End User
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL SILK MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: SILK MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL SILK MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL SILK MARKET, BY TYPE
5.1 OVERVIEW
5.2 MULBERRY SILK
5.3 TUSSAR SILK
5.4 ERI SILK
5.5 OTHERS
6 GLOBAL SILK MARKET, BY END USER
6.1 OVERVIEW
6.2 TEXTILE
6.3 COSMETICS AND MEDICAL
7 GLOBAL SILK MARKET, BY GEOGRAPHY
7.1 OVERVIEW
7.2 NORTH AMERICA
7.2.1 NORTH AMERICA MARKET SNAPSHOT
7.2.2 U.S.
7.2.3 CANADA
7.2.4 MEXICO
7.3 EUROPE
7.3.1 EUROPE MARKET SNAPSHOT
7.3.2 WESTERN EUROPE
7.3.2.1 THE UK
7.3.2.2 GERMANY
7.3.2.3 FRANCE
7.3.2.4 ITALY
7.3.2.5 SPAIN
7.3.2.6 REST OF WESTERN EUROPE
7.3.3 EASTERN EUROPE
7.3.3.1 POLAND
7.3.3.2 RUSSIA
7.3.3.3 REST OF EASTERN EUROPE
7.4 ASIA PACIFIC
7.4.1 ASIA PACIFIC MARKET SNAPSHOT
7.4.2 CHINA
7.4.3 JAPAN
7.4.4 INDIA
7.4.5 AUSTRALIA & NEW ZEALAND
7.4.6 ASEAN
7.4.7 REST OF ASIA PACIFIC
7.5 MIDDLE EAST & AFRICA
7.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
7.5.2 UAE
7.5.3 SAUDI ARABIA
7.5.4 SOUTH AFRICA
7.5.5 REST OF MEA
7.6 SOUTH AMERICA
7.6.1 SOUTH AMERICA MARKET SNAPSHOT
7.6.2 BRAZIL
7.6.3 ARGENTINA
7.6.4 REST OF SOUTH AMERICA
8 GLOBAL SILK MARKET COMPETITIVE LANDSCAPE
8.1 OVERVIEW
8.2 COMPANY MARKET RANKING
8.3 KEY DEVELOPMENT STRATEGIES
8.4 COMPETITIVE DASHBOARD
8.5 PRODUCT MAPPING
8.6 TOP PLAYER POSITIONING, 2022
8.7 COMPETITIVE HEATMAP
8.8 TOP WINNING STRATEGIES
9 COMPANY PROFILES
9.1 JIANGSU SUTONG COCOON & SILK CO
9.1.1 OVERVIEW
9.1.2 FINANCIAL PERFORMANCE
9.1.3 PRODUCT OUTLOOK
9.1.4 KEY DEVELOPMENTS
9.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.2 AMSILK GMBH
9.2.1 OVERVIEW
9.2.2 FINANCIAL PERFORMANCE
9.2.3 PRODUCT OUTLOOK
9.2.4 KEY DEVELOPMENTS
9.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.3 ZHEJIANG JIAXIN SILK CO. LTD
9.3.1 OVERVIEW
9.3.2 FINANCIAL PERFORMANCE
9.3.3 PRODUCT OUTLOOK
9.3.4 KEY DEVELOPMENTS
9.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.4 WUJIANG FIRST TEXTILE CO LTD
9.4.1 OVERVIEW
9.4.2 FINANCIAL PERFORMANCE
9.4.3 PRODUCT OUTLOOK
9.4.4 KEY DEVELOPMENTS
9.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.5 SHENGKUN SILK MANUFACTURING CO LTD
9.5.1 OVERVIEW
9.5.2 FINANCIAL PERFORMANCE
9.5.3 PRODUCT OUTLOOK
9.5.4 KEY DEVELOPMENTS
9.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.6 LIBAS TEXTILES LTD
9.6.1 OVERVIEW
9.6.2 FINANCIAL PERFORMANCE
9.6.3 PRODUCT OUTLOOK
9.6.4 KEY DEVELOPMENTS
9.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.7 BOLT THREADS
9.7.1 OVERVIEW
9.7.2 FINANCIAL PERFORMANCE
9.7.3 PRODUCT OUTLOOK
9.7.4 KEY DEVELOPMENTS
9.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.8 ANHUI SILK CO LTD
9.8.1 OVERVIEW
9.8.2 FINANCIAL PERFORMANCE
9.8.3 PRODUCT OUTLOOK
9.8.4 KEY DEVELOPMENTS
9.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.9 WUJIANG WANSHIYI SILK CO LTD
9.9.1 OVERVIEW
9.9.2 FINANCIAL PERFORMANCE
9.9.3 PRODUCT OUTLOOK
9.9.4 KEY DEVELOPMENTS
9.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
9.10 SICHUAN NANCHONG LIUHE (GROUP) CORP
9.10.1 OVERVIEW
9.10.2 FINANCIAL PERFORMANCE
9.10.3 PRODUCT OUTLOOK
9.10.4 KEY DEVELOPMENTS
9.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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