Silk Market: Summary
The Global Silk Market is estimated to reach USD 9.7 Billion by 2027 at a CAGR of 3.2 %.
Silk is a natural protein fiber composed mainly of fibroin and is produced by certain insect larvae to form cocoons. silk is acknowledged as one of the most luxurious natural fibers and is distinctive from other natural fabric materials in that it is lightweight yet strong. Sericulture is the most widely used technology to manufacture silk, by cultivating of the silkworm. However, innovations are being made for developing new alternative techniques. High resistance to deformation, strong natural fiber, good affinity to dye, low density making it light and comfortable, and good insulation are some of the properties owing to which they are gaining popularity across the globe.
Silk Market: Drivers & Restraints
- Rising Demand from Textile Industry
The textile industry is one of the fastest-growing applications of silk. Silk is being used in the textile industry due to its possess properties such as lustrous appearance, resilient, luxurious feel, lightweight and strength. In the textile industry, silk is used for sarees, gowns, wedding dresses, neckties, as well as in may household products such as wall hangings, pillows, and others. Silk’s property of absorbency makes it comfortable for it even in warm weather. Moreover, silk has low conductivity which keeps warm air close to the skin during cold weather which has boosted its use for clothing such as ties, formal dresses, high fashion clothes, shirts, and others. Owing to different properties of silk has expected to increase its use in the textile industry, thus expected to boost its overall market growth.
Now a day, silk is also gaining popularity from cosmetics and the medical industry and is expected to grow at a steady state. Silk fibroin a natural protein is used as a raw material while manufacturing various cosmetic products such as lotions, liquid soaps, shampoos, nail enamels, and conditioners. While silk polypeptide is used in skin lotion, cleansing cream, and soap due to its excellent film making functions. Increasing awareness regarding wellness, health, and style and tend to invest more in personal grooming has boosted the demand for cosmetic products which in turn boosting the demand for silk form the cosmetic industry.
- Higher Raw Material Dependency from China
China is one of the leading suppliers for silk fibers and exports a larger quantity of silk to silk manufacturers across the globe. According to International Sericulture Commission, in 2018 the total silk production in China was 1,20,000 Metric Ton making China the biggest producer of silk. Around 90% of its silk production is been exported across the globe which increases the dependency on China by other importing countries such as the U.S., Italy, and others. The higher dependency of raw materials on China gives them the leverage on price settings and product quality which may hamper the product market. Thus, the higher dependency of raw materials on China may hinder the growth of the global silk market.
Silk Market: Key Segments
- Based on Type: Mulberry Silk, Tasar Silk, Eri Silk, Muga Silk, Spider Silk, and Others
- Based on Application: Textile, Medical, and Cosmetic
- Key Regions Covered: North America, Asia-Pacific, Europe, Middle East & Africa and South America, with individual country-level analysis.
Silk Market: Report Scope
The report on the Silk market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Historical/Estimated/Forecasted Market Size Years
Base Year for Market Calculation
2020-2027 (2020 estimated year, forecasted up to 2027)
Value (USD Million), Volume (Kiloton)
Type and Application
North America, Asia-Pacific, Europe, Middle East & Africa, and South America
KEY Companies Covered
- Garima Silks (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
- Bolt Threads
- Anhui Silk
- AMSilk GmbH
- Eastern Silk Industries Ltd.
- Kraig Biocraft Laboratories, Inc.
- Wujiang Wanshiyi Silk Co. Ltd
- Zhejiang Jiaxin Silk Co Ltd
- ShengKun Silk Manufacturing Co., Ltd
- Other Key Companies
Silk Market: Report Segmentation
For the scope of report, In-depth segmentation is offered by Forencis Research
Silk Market, by Type
- Mulberry Silk
- Tasar Silk
- Eri Silk
- Muga Silk
- Spider Silk
Silk Market, by Application
Silk Market, by Region
- North America
- South Korea
- Rest of Asia-Pacific
- Rest of Europe
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Key Questions answered by the report
- What are the major developments impacting the global market and its growth?
- What will be the effects of the developments in the global market on the industry and on the market players in the near and far future?
- What are the evolving types of the global market?
- What are the evolving applications of global market?
- What are the major characteristics that will affect the global market growth during the study period?
- Who are the key global players operating in the market?
- How are the major players leveraging in the existing global market conditions?
- Silk Market Providers
- Silk Market Solution and Services Suppliers, Distributors and Dealers
- End-Users of Varied Segments of Silk Market
- Government Bodies and Intellectual Institutions
- Associations and Industrial Organizations
- Research & Consulting Service Providers
- Research & Development Organizations
- Investment Banks & Private Equity Firms
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE SILK MARKET SYSTEM Market STUDY