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Silk Market Report

RA07698

Silk Market by Type (Mulberry Silk, Tussar Silk, Eri Silk, and Others), End user (Textile and Cosmetics & Medical), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2031

RA07698

Pages: 250

Dec 2022

COVID-19

pandemic has shown to have an enormous impact on most
industries.

Click Here to access our comprehensive analysis of the

Impact of covid-19 on Silk Market

Global Silk Market Analysis

The global silk market size was $15,608.3 million in 2021 and is predicted to grow with a CAGR of 8.2%, by generating a revenue of $34,102.5 million by 2031.

Global Silk Market Analysis

Global Silk Market Synopsis

Silk is one of the most significant contributors to the textile & apparel market worldwide, which is consistently increasing and evolving in terms of demand. Various qualities of silk fiber include its opulent feel, lustrous appearance, resilience, strength, and light weight. Silk is widely used in many different types of clothing, such as gowns, wedding gowns, neckties, and scarves, as well as in many different household items, such as wall hangings, pillows, upholstery, and draperies. In addition, silk has less conductivity than other materials, which promotes its use in ties, shirts, haute couture garments, formal dress suits, robes, kimonos, and sundresses. The demand for silk is expected to increase as a result of the aforementioned crucial factors, which could ultimately lead to a flourishing global silk market growth.

The silk market requires less investment because it does not require complex machines and equipment to produce. It is more labor-intensive than investment-intensive industries. These factors contribute to the market's expansion. Increasing research and knowledge about seri-by-products and seri-waste products will be crucial for the growth of the silk market trend in the upcoming years. One of the major reasons for the increased use of silk protein in a variety of industries is the presence of dipeptides and tripeptides within it, which can easily penetrate the bloodstream from the dermis skin layer. In addition, the presence of components such as natural amino acids in silk protein makes it desirable for various cosmetics and supplement manufacturing end users.

One of the factors limiting the growth of the global silk market size is the fluctuation of silk material prices. Additionally, inadequate market and storage facilities, inadequate transportation options, and inadequate market trend information, particularly in the developing countries such as India, Brazil, and Uzbekistan, are some of the factors that are causing impediments in the global silk industry.

With a yearly turnover of billions of euros, the textile industry, particularly the silk industry, is one of the most strategic economic activities in Europe. The biggest markets for silk textiles in Europe are in Germany and Italy. Customers in Italy and Germany prefer natural fibers, which have led to the importation of a huge variety of silk fabrics for clothing, accessories, and home décor. Additionally, despite the fact that the European apparel and textile industry is a diverse sector, silk is one of the most significant textiles produced in Italy due to its distinctive qualities such as breathability, elasticity, and absorbency. For investors, these factors may present opportunities in the years to come. Furthermore, new companies working in the global silk industry are developing novel ideas that may have a favorable effect on the sector.

According to regional analysis, the Asia-Pacific silk market share accounted for dominant market share in 2021. Asian countries such as India, Thailand, China, and Uzbekistan are the prominent players in the silk industry in Asia-Pacific.

Silk Market Overview

The natural protein fiber, silk, is taken from the insect's larvae. Raw silk, domesticated silkworms like Bombyx mori, and spider species such as Araneus diadematus are the main sources of commercial silk production. Silk proteins are useful substances that are created following the biosynthesis process in specialized glands. The Bombyx mori mulberry silkworm larvae's cocoons yield the best silk. Since it takes about 10,000 cocoons to produce that calibre of silk, real silk is very expensive.

COVID-19 Impact on Global Silk Market

The global silk market share suffered negative growth as a result of the COVID-19 virus outbreak. The silk industry experienced a variety of production-related challenges during the COVID-19 period, including fluctuating cocoon and raw silk prices, transportation problems, a labor shortage, a decline in the sale of raw silk and silk-related products, a decline in working capital and cash flow, fewer export/import orders, and other limitations. During the peak of COVID-19, orders and supply in recent months revealed a falling trend in silk production, which is currently noticeably improving. Furthermore, changes in consumption habits and silk marketing methods have been brought on by the pandemic. Businesses in the China, India, and France region have had significant issues with their supply chains. Value chain, market channels, and consumption trends have all been significantly impacted by COVID. The operations of numerous businesses, including the silk industry, were considered as being in risk. Simultaneously, to deal with these situations many companies have made efforts to combine the Internet and new technologies in the silk market in order to innovate, develop, transform and upgrade to adapt to market changes, thereby combating the economic crisis caused by the pandemic. Thus, implementing strategies and finding solutions to the problems were the major problem solvers in such crucial times.

Less Initial Investment and More Profit for Farmers are Expected to Drive the Global Silk Market Growth

Due to the lack of complicated machinery and equipment needed to produce it, the silk market requires less investment. Compared to investment-intensive industries, it is more labor-intensive. These elements aid in the market's expansion. For the silk protein market to expand in the coming years, more research and understanding about seri-byproducts and seri-waste products will be essential. Because they contain dipeptides and tripeptides that can readily enter the bloodstream from the dermal skin layer, silk proteins are increasingly used in a variety of industries. This is one of the main causes. In addition, silk protein is desirable for use in the production of various cosmetics and supplements due to the presence of ingredients such as natural amino acids. These features are expected to boost the global silk market share growth of the market during analysis timeframe.

Changing Silk Material Prices in Global Market to Restrain the Growth of the Market

One of the factors limiting the growth of the global silk market size is the fluctuation of silk material prices. Additionally, inadequate market and storage facilities, inadequate transportation options, and inadequate market trend information, particularly in the developing countries such as India, Brazil, and Uzbekistan, are some of the factors that are causing obstructions in the global silk industry. One of the main factors restricting the global silk market opportunity growth is the high price of raw silk. India, Japan, and Italy are among the developed as well as developing countries that rely heavily on China for their raw silk needs. These factors hamper the silk market growth.

Use of Silk in Clothing and Apparels to drive Excellent Opportunities in Global Silk Market

The clothing industry, or mostly the silk industry, is one of the strategic economic activities in countries like Europe. The biggest markets for silk textiles in Europe are in Germany and Italy. Customers in Italy and Germany prefer natural fibers, along with the importation of a huge variety of silk fabrics for clothing, accessories, and home décor. Even though the European apparel and textile industry is a diverse sector, silk is one of the most significant textiles produced in Italy because of its distinctive qualities such as breathability, elasticity, and absorbency. For investors, these factors may present opportunities in the years to come. New companies working in the global silk industry are also developing novel ideas that may have a favorable effect on the sector which is projected to boost the growth of the global silk market demand in the near future.

Global Silk Market Share, by Type

Based on type, the market has been divided into mulberry silk, tussar silk, eri silk, and others. Among these, the mulberry silk segment accounted for the highest market share in 2021 and also throughout the forecast period.

Global Silk Market Share, by Type, 2021

Global Silk Market Share, by Type

Source: Research Dive Analysis

The mulberry silk sub-type accounted dominant market share in 2021. Throughout the analysis period, mulberry silk is expected to be the dominant type in the silk market, mainly owing to its huge prominence in the textile industry. Mulberry silk is also one of the highest quality silks, being pure white in colour and completely natural and odourless. Owing to such unique features, there is a huge demand for mulberry silk in the global market. Furthermore, novel and innovative product launches are propelling the mulberry silk segment. For instance, in June 2020, MayfairSilk, London-based significant silk product company, announced the official launch of elegant 100% mulberry silk bed linen and sleep accessories collection. This collection provides customers with excellent resistance against mould, mildew, and dust mites, enabling them to maintain strict levels of cleanliness and hygiene. Such product developments can have a positive impact on the mulberry silk segment.

Global Silk Market Size, by End user

On the basis of end user, the market has been divided into textile and cosmetics & medical. Among these, the textile segment is anticipated to garner the maximum revenue and extensive market growth in the global industry in the forecasted period.

Global Silk Market Growth, by End user, 2021

Global Silk Market Size, by End user

Source: Research Dive Analysis

The textile segment accounted dominant market share in 2021. Textile is the rapidly growing end user of silk, as it is a crucial contributor to the textile industry owing to its remarkable features such as luxurious feel, lustrous appearance, light weightiness, and great strength. Moreover, silk plays a key role in the production of surgical sutures, clothing, silk comforters, and parachutes, which is further projected to propel the segment, over the analysis timeframe.

Global Silk Market Value, Regional Analysis

The global silk market trend was investigated across North America, Europe, Asia-Pacific, and LAMEA.

Global Silk Market Size & Forecast, by Region, 2021-2031(USD Million)

Global Silk Market Value, Regional Analysis

Source: Research Dive Analysis

The Market for Silk in Asia-Pacific to be the most Dominant

The Asia-Pacific silk market is projected to account for a significant growth rate during the forecast period. Silk market for Asia-Pacific is highly competitive, and leading companies in the market prefer numerous strategies to garner prominent Asia-Pacific silk market share. Asian countries such as India, Thailand, China, and Uzbekistan are the prominent players in the silk industry in Asia-Pacific. The demand for silk is significantly attributed to the growing population worldwide, along with the increase in number of startups with their novel innovations.

Competitive Scenario in the Global Silk Market

Technological advancements and partnerships are common strategies followed by major market players. For instance, in January 2022, AMSilk GmbH, a world leader in supplying innovative high-performance bio-based silk materials, announced that it had entered into a partnership with Mercedes-Benz, for the development of novel, sustainable car door pulls, as part of the car manufacturer’s latest technology program, the VISION EQXX.

Competitive Scenario in the Global Silk Market

Source: Research Dive Analysis

Some of the leading global silk market players are Anhui Silk Co. Ltd., AMSilk GmbH, EntoGenetics Inc., Bolt Threads, Sichuan Nanchong Liuhe (Group) Corp., China Silk Group Co. Ltd., Zhejiang Jiaxin Silk Co., Ltd., Xuzhou Shengkun Silk Manufacturing Co., Ltd., Spiber Technologies , and Libas Textiles Ltd.

Aspect

Particulars

  Historical Market Estimations

  2020

  Base Year for Market Estimation

  2021

  Forecast Timeline for Market Projection

  2022-2031

  Geographical Scope

  North America, Europe, Asia-Pacific, and LAMEA

  Segmentation by Type

  • Mulberry silk
  • Tussar silk
  • Eri silk
  • Others

  Segmentation by End user

  • Textile
  • Cosmetics and Medical

  Key Companies Profiled

  • Anhui Silk Co. Ltd.
  • AMSilk GmbH
  • EntoGenetics inc.
  • Bolt Threads
  • Sichuan Nanchong Liuhe (Group) Corp.
  • China Silk Group Co.Ltd
  • Zhejiang Jiaxin Silk Co.Ltd
  • Xuzhou Shengkun Silk Manufacturing Co., Ltd
  • Spiber Technologies
  • Libas Textiles Ltd.

Frequently Asked Questions
 

A. The size of the global silk market was over $15,608.3million in 2021 and is projected to reach $34,102.5 million by 2031.

A. Anhui Silk Co. Ltd., AMSilk GmbH, EntoGenetics Inc., and Bolt Threads are some of the key players in the global silk market.

A. Asia-Pacific possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Asia-Pacific silk market is anticipated to grow at 8.5% CAGR during the forecast period.

A. Technological advancements and partnerships are the two key strategies adopted by the operating companies in this market.

1.Research Methodology

1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.5.Market size estimation

1.5.1.Top-down approach
1.5.2.Bottom-up approach

2.Report Scope

2.1.Market definition
2.2.Key objectives of the study
2.3.Report overview
2.4.Market segmentation
2.5.Overview of the impact of COVID-19 on global silk market 

3.Executive Summary

4.Market Overview

4.1.Introduction
4.2.Growth impact forces

4.2.1.Drivers
4.2.2.Restraints
4.2.3.Opportunities

4.3.Market value chain analysis

4.3.1.List of raw material suppliers
4.3.2.List of manufacturers 
4.3.3.List of distributors

4.4.Innovation & sustainability matrices

4.4.1.Technology matrix
4.4.2.Regulatory matrix

4.5.Porter’s five forces analysis

4.5.1.Bargaining power of suppliers
4.5.2.Bargaining power of consumers
4.5.3.Threat of substitutes
4.5.4.Threat of new entrants
4.5.5.Competitive rivalry intensity

4.6.PESTLE analysis

4.6.1.Political
4.6.2.Economical
4.6.3.Social
4.6.4.Technological
4.6.5.Environmental

4.7.Impact of COVID-19 on silk market

4.7.1.Pre-covid market scenario
4.7.2.Post-covid market scenario

5.Silk Market Analysis, by Type 

5.1.Overview
5.2.Mulberry silk

5.2.1.Definition, key trends, growth factors, and opportunities
5.2.2.Market size analysis, by region
5.2.3.Market share analysis, by country

5.3.Tussar silk

5.3.1.Definition, key trends, growth factors, and opportunities
5.3.2.Market size analysis, by region
5.3.3.Market share analysis, by country

5.4.Eri silk

5.4.1.Definition, key trends, growth factors, and opportunities
5.4.2.Market size analysis, by region
5.4.3.Market share analysis, by country

5.5.Others

5.5.1.Definition, key trends, growth factors, and opportunities
5.5.2.Market size analysis, by region
5.5.3.Market share analysis, by country

5.6.Research Dive Exclusive Insights

5.6.1.Market attractiveness
5.6.2.Competition heatmap

6.Silk Market Analysis, by End User

6.1.Textile 

6.1.1.Definition, key trends, growth factors, and opportunities
6.1.2.Market size analysis, by region
6.1.3.Market share analysis, by country

6.2.Cosmetics & Medicals 

6.2.1.Definition, key trends, growth factors, and opportunities
6.2.2.Market size analysis, by region
6.2.3.Market share analysis, by country

6.3.Research Dive Exclusive Insights

6.3.1.Market attractiveness
6.3.2.Competition heatmap

7.Silk Market, by Region

7.1.North America

7.1.1.U.S.

7.1.1.1.Market size analysis, by Type
7.1.1.2.Market size analysis, by End User

7.1.2.Canada

7.1.2.1.Market size analysis, by Type
7.1.2.2.Market size analysis, by End User

7.1.3.Mexico

7.1.3.1.Market size analysis, by Type
7.1.3.2.Market size analysis, by End User

7.1.4.Research Dive Exclusive Insights

7.1.4.1.Market attractiveness
7.1.4.2.Competition heatmap

7.2.Europe

7.2.1.Germany 

7.2.1.1.Market size analysis, by Type
7.2.1.2.Market size analysis, by End User

7.2.2.UK

7.2.2.1.Market size analysis, by Type
7.2.2.2.Market size analysis, by End User

7.2.3.France

7.2.3.1.Market size analysis, by Type
7.2.3.2.Market size analysis, by End User

7.2.4.Spain

7.2.4.1.Market size analysis, by Type
7.2.4.2.Market size analysis, by End User

7.2.5.Italy

7.2.5.1.Market size analysis, by Type
7.2.5.2.Market size analysis, by End User

7.2.6.Rest of Europe

7.2.6.1.Market size analysis, by Type
7.2.6.2.Market size analysis, by End User

7.2.7.Research Dive Exclusive Insights

7.2.7.1.Market attractiveness
7.2.7.2.Competition heatmap

7.3.Asia Pacific

7.3.1.China

7.3.1.1.Market size analysis, by Type
7.3.1.2.Market size analysis, by End User

7.3.2.Japan 

7.3.2.1.Market size analysis, by Type
7.3.2.2.Market size analysis, by End User

7.3.3.India

7.3.3.1.Market size analysis, by Type
7.3.3.2.Market size analysis, by End User

7.3.4.Australia

7.3.4.1.Market size analysis, by Type
7.3.4.2.Market size analysis, by End User

7.3.5.South Korea

7.3.5.1.Market size analysis, by Type
7.3.5.2.Market size analysis, by End User

7.3.6.Rest of Asia Pacific

7.3.6.1.Market size analysis, by Type
7.3.6.2.Market size analysis, by End User

7.3.7.Research Dive Exclusive Insights

7.3.7.1.Market attractiveness
7.3.7.2.Competition heatmap

7.4.LAMEA

7.4.1.Brazil

7.4.1.1.Market size analysis, by Type
7.4.1.2.Market size analysis, by End User

7.4.2.Saudi Arabia

7.4.2.1.Market size analysis, by Type
7.4.2.2.Market size analysis, by End User

7.4.3.UAE

7.4.3.1.Market size analysis, by Type
7.4.3.2.Market size analysis, by End User

7.4.4.South Africa

7.4.4.1.Market size analysis, by Type
7.4.4.2.Market size analysis, by End User

7.4.5.Rest of LAMEA

7.4.5.1.Market size analysis, by Type
7.4.5.2.Market size analysis, by End User

7.4.6.Research Dive Exclusive Insights

7.4.6.1.Market attractiveness
7.4.6.2.Competition heatmap

8.Competitive Landscape

8.1.Top winning strategies, 2021

8.1.1.By strategy
8.1.2.By year

8.2.Strategic overview
8.3.Market share analysis, 2021

9.Company Profiles

9.1.Anhui Silk Co.Ltd

9.1.1.Overview
9.1.2.Business segments
9.1.3.Product portfolio
9.1.4.Financial performance
9.1.5.Recent developments
9.1.6.SWOT analysis
9.1.7.Research Dive Analyst View

9.2.AMSilk GmbH

9.2.1.Overview
9.2.2.Business segments
9.2.3.Product portfolio
9.2.4.Financial performance
9.2.5.Recent developments
9.2.6.SWOT analysis
9.2.7.Research Dive Analyst View

9.3.EntoGenetics Inc

9.3.1.Overview
9.3.2.Business segments
9.3.3.Product portfolio
9.3.4.Financial performance
9.3.5.Recent developments
9.3.6.SWOT analysis
9.3.7.Research Dive Analyst View

9.4.Bolt Threads

9.4.1.Overview
9.4.2.Business segments
9.4.3.Product portfolio
9.4.4.Financial performance
9.4.5.Recent developments
9.4.6.SWOT analysis
9.4.7.Research Dive Analyst View

9.5.Sichuan Nanchong Liuhe (Group) Corp

9.5.1.Overview
9.5.2.Business segments
9.5.3.Product portfolio
9.5.4.Financial performance
9.5.5.Recent developments
9.5.6.SWOT analysis
9.5.7.Research Dive Analyst View

9.6.China Silk Group Co.Ltd

9.6.1.Overview
9.6.2.Business segments
9.6.3.Product portfolio
9.6.4.Financial performance
9.6.5.Recent developments
9.6.6.SWOT analysis
9.6.7.Research Dive Analyst View

9.7.Zhejiang Jiaxin Silk Co.Ltd.

9.7.1.Overview
9.7.2.Business segments
9.7.3.Product portfolio
9.7.4.Financial performance
9.7.5.Recent developments
9.7.6.SWOT analysis
9.7.7.Research Dive Analyst View

9.8.Xuzhou Shengkun Silk Manufacturing Co.Ltd

9.8.1.Overview
9.8.2.Business segments
9.8.3.Product portfolio
9.8.4.Financial performance
9.8.5.Recent developments
9.8.6.SWOT analysis
9.8.7.Research Dive Analyst View

9.9.Spiber Technologies

9.9.1.Overview
9.9.2.Business segments
9.9.3.Product portfolio
9.9.4.Financial performance
9.9.5.Recent developments
9.9.6.SWOT analysis
9.9.7.Research Dive Analyst View

9.10.Libas Textiles Ltd

9.10.1.Overview
9.10.2.Business segments
9.10.3.Product portfolio
9.10.4.Financial performance
9.10.5.Recent developments
9.10.6.SWOT analysis
9.10.7.Research Dive Analyst View

Since around 4000 years, silk has seized the title as the ‘Queen of Textiles’. It is the absolute luxurious fabric for individuals with astute taste. Oscar de la Renta, a Dominican fashion designer says, “Silk does for the body what diamonds do for the hand".

Silk is a string that silkworms knit to form their cocoons – the outer covering that protects them in the pupal stage. However, most of the insects that are used to produce silk do not live after this stage; this is because, they are boiled or gassed alive within their cocoons to produce silk. This causes the cocoons to unravel, and then the silk strings can be easily obtained. Around 6,600 silkworms are slayed to produce only 1 kilogram of silk.

The Current Face of the Silk Market

Currently, as many people have raised concern on using products that are made by harming living creatures, the silk industry is digging out some cruelty-free ways to produce silk. People who are against the conventional silk making process have switched to seemingly, cruelty-free options such as “peace silk” or “ahimsa silk”. In addition, sericulture is another concept that is trending in the silk industry. The industry is greatly focusing on technological advancements in the sericulture arena for enhancing the quality and productivity of silk production. Besides this, government divisions are taking initiatives for monitoring and controlling the activities in the sericulture sector, which is thrusting the growth of the global silk market.

Besides this, there is a significant hype around vegan silk fabrics, owing to their cruelty-free production. The surging adoption of vegan silk products across the world is likely to offer a heap of opportunities for the global silk industry in the coming future, states a report by Research Dive. This is because while producing vegan silk the worms are allowed to get out of the cocoon. Also, this type of silk is breathable and highly eco-friendly, as it does not need finishing chemicals in its production. The report also claims that the global market for silk is expected to garner a revenue of to $11,353.6 million by 2028.

Recent Trends in the Silk Industry

Companies functioning in the silk sector are inventing innovative products that are likely to positively impact the industry. Some of the foremost silk market players are Amsilk GmbH, Spiber Technologies AB, EntoGenetics inc., Anhui Silk Co. Ltd., Bolt Threads, Zhejiang Jiaxin Silk Corp.,Ltd, China Silk Group Co.,Ltd., Shengkun Silk Manufacturing Co.,Ltd, Libas Textiles Ltd., Sichuan Nanchong Liuhe (Group) Corp., and others.

These players are concentrating on emerging strategies such as product development, mergers & acquisitions, partnerships, and collaborations to obtain a foremost position in the market. For instance,

  • In June 2020, Siyaram, one of the leading fashion textile brands in India, launched a new range of anti-coronavirus fabrics to curb the spread of COVID-19 pandemic. The fabrics have been tested by the World Health Organization-approved labs.
  • In August 2020, Kessi Fabric, an online platform to buy world class and unique ladies garments, launched a novel product - Parnita Vol 3 Jam silk fabric with embroidery work suit.
  • In August 2020, Varni Fabrics, the manufacturer & exporters of branded suits, kurtis, gowns, and saree catalogs, launched Hansika Silk Art Silk Fabric fancy wear saree.

Impact of Covid-19 on the Silk Market

The abrupt outbreak of the coronavirus pandemic has drastically impacted the global silk market mainly owing to the closure of production and transportation industries in the lockdown during the pandemic. Besides, due to the volatility in the silk market, domestic as well as global buyers postponed or cancelled their orders, thus fueling the loss of silk manufacturers.  All these factors have adversely affected the global market for silk in this crisis period. So, what does the future look like for the silk industry? This completely depends on the strategies the silk producers will undertake to recuperate the market.

Currently, governmental constitutional bodies are taking strategic steps to elevate the silk industry from losses. Thus, as and when the pandemic relaxes and the silk manufacturing resumes, the demand for silk products is likely to magnify, thus boosting the market growth remarkably.

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