Silk - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Silk Market is accounted for $14.78 billion in 2019 and is expected to reach $30.10 billion by 2027 growing at a CAGR of 9.3% during the forecast period. While the factors like, low capital intensive industry and technological advancement in sericulture are driving the market growth. However, the high labour cost is likely to restrain the growth of the market.
Silk is a natural protein fiber produced by the larvae of several insects and spiders. The rearing of silkworms for commercially producing silk is known as sericulture. Composed of fibroin and sericin proteins, the silk is soft and shiny that is further processed to form silk fiber. It has been recognized as a suitable fabric for a variety of garment types due to its low density and high insulation properties.
Based on the type, the mulberry silk segment is estimated to have a lucrative growth due to huge amount of silk procured for textile applications is obtained from the Bombyx mori L. silkworm, which feeds only on the leaves of the mulberry plant. Furthermore, easiness of usage of this silk with cotton and merge to get better base properties of both the fibers further makes it the most consumed silk type.
By geography, Asia Pacific is likely to have a huge demand in the forecast period due to high expansion of the textile industry, majorly from India and China. China is the key customer of silk in this region as well as globally.
Some of the key players profiled in the Silk Market include Amsilk GmbH, Bolt Threads Inc., China Silk Corporation, Entogenetics, Inc., Jiangsu Sutong Cocoon & Silk Co., Jinchengjiang Xinxing Cocoon Silk Co., Ltd., Kraig Biocraft Laboratories, Inc, Shengkun Silk Manufacturing Co., Ltd., Sichuan Nanchong Liuhe (Group) Corp., Spiber Technologies, Wensli Group Co. Ltd., Wujiang First Textile Co., Ltd., Wujiang Wanshiyi Silk Co. Ltd., Zhejiang Jiaxin Silk Co., Ltd. and Anhui Silk Co. Ltd.
• Eri Silk
• Mulberry Silk
• Tussar Silk
• Spider Silk
• Cosmetics & Medical
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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