The size and share of the Silk Market size were close to USD 21.45 billion by revenue at the end of 2021 and is estimated to rise at a current CAGR of about 9.5% to reach a total of USD 28.71 billion by 2026.
The silk industry needs limited funds as it does not require complex machines and gadgets for its manufacturing. It is more labor concentrated when contrasted to the investment focused industries. These factors boost the development of the sector. High call from textile, cosmetic, and medical business paves the way for advancement opportunities in the silk industry.
Nevertheless, the high prices of raw silk mainly hamper the silk industry. The rising call in Europe, combined with the increasing request for textile goods, is projected to drive the worldwide silk industry during the estimated period. Silk's absorbency makes it a lot comfortable to wear, mainly, in warm weather. Its less conductivity lets warm air close to the skin throughout cold weather. This raises the employments of silk for clothing like shirts, formals, high fashion clothing, pyjamas, robes, suits, and sundresses. Silk is a habitual protein fiber highly made out of fibroin and is produced from specific insect larvae to form cocoons.
The manufacturing of silk by nurturing the silkworms is known as sericulture. Silk is highly made by the larvae of insects that are in the procedure of finishing metamorphosis, but some of the insects like web spinners and raspy crickets create silk throughout their lives. Textile is the quickest developing application of silk. Silk is a significant giver to the textile firm that is persistently advancing and developing on the basis of call and supply. The radiant look of silk is owing to the triangular prism-like shape of the silk fiber that assists silk cloth to refract approaching the light at numerous angles, thereby creating various colors. Besides the textile market, silk also has uses in medical and cosmetics. The mulberry silk sector has ruled the market on the basis of worth and volume and is projected to continue its lead in the coming years.
For the silk business, each danger is also a moment of truth that can encourage innovative advancement and change. In 1845, Bombyx mori pebrin disease first broke out in Vaucluse, France, and then spread throughout the world. This has led to a devastating blow to production in significant sericulture nations. Under the efforts of the well-known microbiologist Louis Pasteur and other scientists, using the breeding method to control microbial infections, the risk rate for silkworm disease in most sericultural countries increased from 20% in the middle of the century which has renewed confidence in the silk industry.
COVID-19 has been fierce since the beginning of 2020, the international silk industry and the consumer market have been hit hard. The nations of China, Italy, France, Brazil and other significant silk producers and customers have been highly impacted by the outbreak. Companies in various countries have faced more challenges in epidemic prevention, return to work, ordering and markets, and the upstream and downstream silk industries are facing a serious crisis. However, the COVID-19 epidemic is also causing changes in silk marketing channels and consumption patterns. Many companies are combining the Internet and new technologies to innovate and develop, transform and modernize to adapt to market changes, fighting the economic crisis caused by the epidemic.
To fully understand the impact of COVID-19 on the international silk industry, study future trends in silk industry and consumption, from March 11 to April 10, 2020, the International Silk Union (ISU) has launched an investigation into the impact of COVID -19 on the international silk industry and consumer market trends. The questionnaire covers basic business information and the impact of COVID-19 on the international silk business and industry.
Bolt Threads, the startup making spider silk from micro bugs, has funded a hefty $123 million in a Series D round of funding. As reported in November, an SEC filing showcased the company had funded $106 million from Formation 8.
London, December 2019, AMSilk CEO Jens Klein presented to attendees of the 2019 Biofabricate Summit in London. Klein addressed AMSilk’s progress since presenting at the summit the preceding year, highlighting the company’s successful partnership with Omega to produce the first commercially present spider silk watch strap and also the other business partnerships that establish AMSilk as a leader in the field of biopolymers and bio-fabrication.
The recent improvements in the quality of silk are likely to drive the demand for mulberry silk, supporting the expansion of the global silk market. The rapid development of the textile sector where silk plays a vital role is also promoting the growth of the silk business around the world. The on-going developments in sericulture technology are also encouraging growth in this market. Textile is the fastest-growing application of silk. Silk is a significant contributor to the textile market, which is significantly growing and rising on the basis of demand and supply. High call from sectors like textile, cosmetic, and medical business creates various development opportunities in the silk market. Low funds required for the manufacture of this specific product, is estimated to drive the market expansion further. The silk market involves comparatively fewer investments as it does not need complicated machines and equipment for making. It is more labor-intensive when compared to the investment intensive businesses. These factors boost the expansion of the market.
The high expense of raw silk mainly restrains the global silk market. The lack of proper sales channels in some parts of the developing countries also limits the overall business expansion.
Cosmetics is a promising area, which is estimated to provide tremendous expansion opportunities for the advancement of the global silk market in the future years. The increasing technological advances and the changing fashion preferences of the consumers are supposed to create huge growth potential for the development of this industry across the globe.
The availability of various substitute materials at more affordable prices is estimated to hamper the expansion of the silk market in the future years. Also, the high reliance on the Chinese market can be a threat to the market.
Market Size Available
2020 – 2025
2021 - 2026
By Application, Type, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
Anhui Silk Co. Ltd. (China), Wujiang First Textile Co., Ltd. (China), Zhejiang Jiaxin Silk Co., Ltd. (China), Sichuan Nanchong Liuhe(Group) Corp. (China), ShengKun Silk Manufacturing Co., Ltd. (China), Jiangsu Sutong Cocoon & Silk Co. (China), Wensli Group Co. Ltd. (China)
Silk Market Segmentation as per the research report with evaluated size, share & forecast until 2026.
Silk Market - By Type
The mulberry silk sector led the global silk market on the basis of value and volume and is estimated to maintain its lead in the next five years. Tussar silk sector is the second-biggest type of silk employed after mulberry silk.
Silk Market - By Application
Textile is the quickest developing application of silk. Silk is a significant contributor to the textile business that is continuously developing and growing on the basis of demand and supply. In recent years, silk has become a part of the cosmetics and medical industries, offering several applications.
Silk is considered as a consolidated market with the major share of supply and demand contributed from the Asia-Pacific countries. In the Asia Pacific area, China and India are the leading manufacturers and exporters of silk. The sericulture business in China has a history of over 6,000 years. The different types of silk produced in China are mulberry silk and Tussar silk.
Silk Market - By Region
Middle East & Africa
Based on region, the global silk market is studied across North America silk Industry, Europe silk Industry, Asia Pacific silk Industry, MEA silk Industry and LAM silk Industry. Of these, the Asia Pacific region is expected to grow at the fastest rate during the outlook period of 2021 to 2026. This high growth rate is attributed to the growing demand for silk and its product from countries like China, India and Uzbekistan. The high population of these countries are driving the demand for silk products. The textile industry is also flourishing in the Asia Pacific region.
Europe Silk Market holds the second largest growth. The market in Europe is supposed to grow at a CAGR of 7% during the foreseen period of 2020 to 2025. Italy is considered as the largest importer of silk in the European Union. Majority of silk imports in this nation are from China, which tops the silk production across the globe. However, these imports witnessed a decline in the last few years. France is another country which has a significantly big silk processing industry globally. For domestic consumption Lyon has been producing highest quality silk fabrics. Majority of the imports in France are from US.
Although the outbreak of coronavirus has impacted the exports and imports of silk across the world, the market is supposed to return to its normal stage within short time.
The key players operating in the global Silk Market are,
Anhui Silk Co. Ltd. (China), Wujiang First Textile Co., Ltd. (China), Zhejiang Jiaxin Silk Co., Ltd. (China), Sichuan Nanchong Liuhe(Group) Corp. (China), ShengKun Silk Manufacturing Co., Ltd. (China), Jiangsu Sutong Cocoon & Silk Co. (China), Wensli Group Co. Ltd. (China), China Silk Corporation (China), WujiangWanshiyi Silk Co. Ltd. (China), and JinchengjiangXinxing Cocoon Silk Co., Ltd. (China).
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Mulberry Silk
5.1.3 Tussar Silk
5.1.4 Eri Silk
5.1.6 Y-o-Y Growth Analysis, By Type
5.1.7 Market Attractiveness Analysis, By Type
5.1.8 Market Share Analysis, By Type
5.2.6 Y-o-Y Growth Analysis, By Application
5.2.7 Market Attractiveness Analysis, By Application
5.2.8 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Application
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product
18.104.22.168 By Application
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Type
188.8.131.52 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 China Silk Corporation
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Anhui silk Co. Ltd.
8.3 Kraig Biocraft Laboratories, Inc.
8.4 Wujiang First Textile Co.,Ltd
8.5 Wujiang Wanshiyi silk Co.
8.6 Zhejiang Jiaxin silk Corp., Ltd.
8.7 Sichuan Nanchong Liuhe
8.8 ShengKun Silk Manufacturing Co., Ltd
8.9 Jiangsu Sutong Cocoon & Silk Co
8.10 Wensli Group Co. Ltd.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
The segment-level analysis in terms of By Diagnostic Wearable Devices, and Therapeutic Wearable Devices along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Global Silk Market Market By Region, From 2021-2026( USD Billion )
Global Silk Market Market By Type, From 2021-2026( USD Billion )
Global Mulberry Silk Market By Region, From 2021-2026( USD Billion )
Global Tussar Silk Market By Region, From 2021-2026( USD Billion )
Global Eri Silk Market By Region, From 2021-2026( USD Billion )
Global Others Market By Region, From 2021-2026( USD Billion )
Global Silk Market Market By Application, From 2021-2026( USD Billion )
Global Textile Market By Region, From 2021-2026( USD Billion )
Global Cosmetics Market By Region, From 2021-2026( USD Billion )
Global Medical Market By Region, From 2021-2026( USD Billion )
Global Others Market By Region, From 2021-2026( USD Billion )