USD 15.9 Billion
Silk Market Size, Share, Growth Analysis, By Type(Mulberry Silk, Tussar Silk), By Application(textile industry, and cosmetic industry) - Industry Forecast 2024-2031
Report ID:
SQMIG25M2021 |
Region:
Global |
Published Date: March, 2024
Pages:
223
|
Tables:
62 |
Figures:
75
Silk Market Insights
Global Silk Market size was valued at USD 15.9 Billion in 2022 and is poised to grow from USD 16.97 Billion in 2023 to USD 28.5 Billion by 2031, at a CAGR of 6.70% during the forecast period (2024-2031).
The global silk market has seen significant growth in recent years, with increasing demand for silk projected to continue in the future. Unlike other textile industries, silk production does not require heavy investment in machinery or equipment, making it a more labor-intensive market. This factor, along with others, supports the growth of the silk market. The market is also expected to grow rapidly as people become more aware of the benefits of lubricant-based products, which are known for their corrosion resistance, inflammability, and lack of hazardous ingredients. The expansion of air transportation and trade is also expected to drive up the market value of silk. Additionally, the rise of the automobile industry and increasing defense spending are other factors that are expected to contribute to the growth of the market. In recent years, the demand for silk products has increased globally, with consumers valuing the luxury and high-quality feel of silk. The market for silk products includes clothing, bedding, home furnishings, and accessories. Silk is also being used in the medical industry for various applications such as wound healing, drug delivery systems, and tissue engineering. The use of silk in medical applications is expected to drive demand and increase market growth in the future. The market for silk is highly competitive, with major players operating in countries such as China, India, and Thailand.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Mulberry Silk
Fastest Growth
Mulberry Silk
Growth Rate
6.70% CAGR
Global Silk Market 2021-2030 ($ Bn)
Country Share for APAC Region- 2021 (%)
Global Silk Market Size By Type 2021-2030 ($ Bn)
Global Silk Market Size By Type 2021-2030 (%)
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Silk Market Segmental Analysis
The Global Silk market is segmented by type, application, and region. Based on type, the market can be segmented into mulberry silk, tussar silk, and eri silk. Based on application, the market is segmented into textile industry, and cosmetic industry. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Silk Market Analysis by Type
By type, the market can be segmented into mulberry silk, tussar silk, and eri silk. Mulberry Silk dominated the global silk market due to its superior quality, fine texture, and high durability, making it ideal for luxury apparel, home furnishings, and industrial applications. China is the largest producer and exporter of Mulberry Silk, followed by India and Thailand.
On the other hand, Tussar Silk is a fast-growing segment in the silk market. Tussar Silk is obtained from wild silk moths and is known for its unique texture and natural golden color. Tussar Silk is gaining popularity due to its eco-friendliness and sustainability compared to Mulberry Silk. India is the largest producer of Tussar Silk, followed by China and Japan. The increasing demand for sustainable and ethical fashion is driving the growth of Tussar Silk in the global market.
Silk Market Analysis by Application
By application, the market can be segmented into textile industry and cosmetic industry. The textile industry dominated the silk market, accounting for the largest share of the global silk market. Silk is widely used in the textile industry for making luxury apparel, home furnishings, and technical textiles. The growing demand for high-quality, luxury fabrics and the increasing adoption of silk in the industrial sector are driving the dominance of the textile industry in the silk market.
On the other hand, the cosmetic industry is a fast-growing segment in the silk market. Silk is used in cosmetics and personal care products due to its moisturizing and softening properties. The natural protein structure of silk makes it an ideal ingredient for skincare and hair care products. The increasing consumer demand for natural and organic cosmetics is driving the growth of the cosmetic industry in the silk market.
Global Silk Market Size By Type, 2021 (%), 2023 (%)
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Silk Market Regional Insights
The APAC region dominated the global silk market, accounting for the largest share of the market. This is primarily due to the large-scale production of silk in countries like China, India, and Thailand. The APAC region has a long-standing history of silk production, and the region's unique climatic conditions provide the ideal environment for silk cultivation. Moreover, the increasing demand for silk products in emerging economies, such as India and China, is expected to further drive the market growth in this region.
North America is expected to be the fastest-growing region in the global silk market, with a CAGR of over 7% during the forecast period. The increasing demand for eco-friendly and sustainable textiles is driving the demand for silk products in this region. Furthermore, the growing popularity of silk clothing, home decor, and accessories is driving the market's growth in North America. The region is also witnessing significant growth in the use of silk in the medical industry for applications such as wound healing and tissue engineering.
Global Silk Market By Geography, 2021-2030, 2024-2031
- Largest
- Fastest
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Silk Market Dynamics
Silk Market Drivers
Increasing demand for eco-friendly and sustainable textiles
- One of the major drivers of the global silk market is the increasing demand for eco-friendly and sustainable textiles. As consumers become more environmentally conscious, there is a growing preference for products made from natural materials, such as silk. Additionally, silk is a biodegradable and renewable resource, making it an attractive option for those seeking sustainable fashion and home decor. The demand for eco-friendly textiles is expected to continue to drive the growth of the silk market in the future.
Silk Market Restraints
High cost of production
- One of the major restraints of the global silk market is the high cost of production compared to other textile materials. Silk production involves several labor-intensive processes, such as breeding silkworms, harvesting cocoons, and extracting silk fibers. These processes require skilled labor and significant resources, driving up production costs. Moreover, the limited availability of suitable climatic conditions for silk cultivation and the presence of pests and diseases that can damage silk crops also add to production costs. The high cost of production can limit the market's growth potential and pose a challenge for smaller market players.
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Silk Market Competitive Landscape
The global silk market is highly competitive, with several regional and global players operating in the market. These players focus on product innovation, efficient supply chain management, and partnerships to gain a competitive edge in the market. The market's competitive landscape is shaped by factors such as product quality, price, brand image, and customer service. Additionally, the increasing demand for eco-friendly and sustainable textiles is creating opportunities for new entrants in the market. However, the high production costs and stringent regulations pose a challenge for smaller players to enter and compete in the market.
Silk Market Top Player’s Company Profiles
- China Silk Corporation (China)
- Anhui Silk Co. Ltd. (China)
- EntoGenetics Inc. (US)
- Spiber Inc. (Japan)
- Shengkun Silk Manufacturing Co. Ltd. (China)
- Gilt Groupe (US)
- American Silk Mills (US)
- Sichuan Nanchong Liuhe (Group) Corp. (China)
- Wensli Group Co. Ltd. (China)
- Sutlej Textiles and Industries Limited (India)
- The Thai Silk Company Limited (Thailand)
- Anhui Golden Spider Silk Co. Ltd. (China)
- Hangzhou Best Chemical Fibre Co. Ltd. (China)
- Kamenskvolokno JSC (Russia)
- MingFeng Co. Ltd. (China)
- Weixing Group Co. Ltd. (China)
- Silkworm Inc. (US)
Silk Market Recent Developments
- In May 2023, Thai silk producer Jim Thompson launched a new line of sustainable silk fabrics made from recycled silk waste.
- In March 2023, Chinese e-commerce giant Alibaba announced its plans to invest $1 billion in the Indian silk sector to increase production and improve the quality of Indian silk products.
- In January 2023, French luxury goods conglomerate LVMH announced its acquisition of Italian silk manufacturer Serikos.
Silk Key Market Trends
- One of the key market trends in the global silk market is the increasing adoption of advanced technologies in the production process. With the help of modern technologies, silk manufacturers are able to improve the quality and efficiency of silk production, thereby reducing production costs and enhancing product value. Additionally, the rising demand for eco-friendly and sustainable textiles is driving the development of new technologies that enable the production of silk with minimal environmental impact. The integration of digital technologies such as artificial intelligence, machine learning, and blockchain in the silk supply chain is also expected to improve transparency and traceability.
Silk Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global silk market analysis, the market has witnessed significant growth in recent years, driven by factors such as increasing demand for sustainable textiles, technological advancements in production processes, and expanding applications in various industries. However, high production costs and stringent regulations pose a challenge for smaller market players. The market is highly competitive, with several regional and global players operating in the market, focusing on product innovation, efficient supply chain management, and partnerships to gain a competitive edge. The Asia-Pacific region dominates the global silk market, owing to the availability of skilled labor, suitable climatic conditions, and large-scale silk production. North America is also a significant market, driven by the rising demand for eco-friendly textiles. The increasing adoption of advanced technologies in production processes and the integration of digital technologies in the silk supply chain are expected to be key market trends in the coming years.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 15.9 Billion |
| Market size value in 2031 | USD 28.5 Billion |
| Growth Rate | 6.70% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Silk Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Silk Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Silk Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Silk Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Silk Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Silk Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Silk Market Report Snapshots
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