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.
Market Drivers:
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.
Market Restraint:
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.
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.
|
Report Features |
Specifics |
|---|---|
|
Historical/Estimated/Forecasted Market Size Years |
2019-2027 |
|
Base Year for Market Calculation |
2019 |
|
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
|
Measured Units |
Value (USD Million), Volume (Kiloton) |
|
Segments Included |
Type and Application |
|
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, and South America |
KEY Companies Covered
For the scope of report, In-depth segmentation is offered by Forencis Research
Silk Market, by Type
Silk Market, by Application
Silk Market, by Region
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
