Silk Market To Reach USD 9.7 Billion In 2027 | CAGR 3.2% - Forencis Research

Silk Market Size, Share, Trends, Growth, Analysis, Research

Global Silk Market: Key Highlights

  • According to the new market research report Silk Market by Type (Mulberry Silk, Tasar Silk, Eri Silk, Muga Silk, Spider Silk, and Others ), by Application (Textile, Medical, Cosmetic, and Others), and by Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) – Global Forecast From 2020 To 2027”, the global silk market is estimated to reach USD 9.7 Billion in 2027 at a CAGR of 3.2% during forecast period 2020-2027.
  • Low conductivity keeps warm air close to the skin during cold weather, attributing to increasing the uses of silk for clothing
  • Growing demand for personal care products owing to an increased standard of living has expected to boost silk protein fibers in cosmetic products such as anti-aging, and others
  • Improved quality of silk is expected to increase the demand of mulberry silk and drive the silk market during forecasted

Silk Market

Global Silk Market: Key Market Dynamics

  • Lustrous appearance, resilient, luxurious feel, lightweight and strength properties of silk has gained popularity in the textile industry
  • Increasing demand for natural protein such as silk fibroin and silk polypetide from the cosmetic and medical industry as a raw material
  • Higher dependency on China for raw material being the largest producer of silk is one of the major restraining factor

Global Silk Market: Regional Overview

  • Asia Pacific

The Asia Pacific is accounted to be the largest market for silk owing to a large number of textile manufacturers and growing demand form the domestic market. China is one of the largest producers of silk yarns and textile products and more than 90% of silk raw material is exported from China. Thus, China is expected to dominate the silk market followed by India. Moreover, changing consumption patterns, rising population, disposable income and the rise in demand for clothing and home furnishing products in some of the major growth factors propelling the growth of the silk market in this region.

  • Europe

Europe is likely to witness the demand for silk market owing to the imports from countries such as Germany, Italy, and France.  Italy is one of the largest importer, processor, and exporter of silk products which has attributed by highly developed skills in silk processing such as finishing, dyeing and printing silk fabrics. Moreover, in Germany consumer’s inclination towards the use of natural fibers making market quality-conscious and prepared to pay a premium for good quality. Thus, owing to various factors form European countries is expected to argue the market growth.  

Global Silk Market: Key Players Overview

  • Bolt Threads:

Bolt Threads is a US-based material innovation company incorporated in 2009. The company uses cutting edge technology and biology to develop new textiles and materials. MICROSILK, MYLO, and B-SILK PROTEIN are some of the technologies used to produce the end-use product. In July 2017, Stella McCartney and Bolt Threads entered into a partnership which will help to extend its boundaries which will help to change the future of apparel production, and the fashion industry at large.

  • AMSilk GmbH:

AMSilk GmbH is engaged in producing and distributing a high volume of high-quality silk biopolymers for use in textile products, medical devices, and cosmetics. AT Newtee GmbH, MIG Fonds, and Technische Universitat Munchen are a shareholder of the company. In May 2017, AMSilk GmbH expanded its fiber business unit which will help the Biosteel fiber product to bring the protein-based silk fiber to the next development stage. This was aimed to develop the market ready product, and set new standards in the fiber industry.

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Rep Id : CM 059

Published : 2020-02-03

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