Global Silk Market was valued at US$ 11.82 Bn in 2019 and is estimated to reach US$ 20.32 Bn by 2026 growing at a CAGR of 7.01% during the forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.Global Silk Market
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The silk market is driven by the growth of the textile and cosmetic industry. The increase in demand for silk, technological advancement in sericulture drives the market growth. The silk market requires less investment, and it does not need complicated machines and equipment for its production. However, higher dependence on China for the silk raw material is hampering the demand of the silk market as there are limited producers in the silk market. The major challenges faced by the silk market are the high price of silk raw material and labor concentrated industry. Emerging applications of silk in medical applications act as a lucrative opportunity for the silk market.
The mulberry silk segment is expected to lead the silk market globally due to its flexibility, high strength, and durability. Mulberry silk is one of the most prominent and popular forms of Silk. Mulberry silk is largely used in the manufacturing of textile such as scarves, gowns, blouses, apparel, wedding dresses, as well as in interiors such as draperies, pillows, and wall hangings. Tussar silk products are used as the base material for furnishing fabrics, handicrafts, and stitched apparel. Fashion designers use Tussar silk in their creations. Eri silk was mostly used for the preparation of winter shawls for men and women. The thermal properties of Eri silk make it a suitable fabric for shawls, blankets, jackets, and bedspreads.
The textile industry is the leading application segment of the silk market owing to the rise in demand for silk products in the textile industries of Asia-Pacific and Europe. Silk has wide use in the textile industry as it is lightweight, lustrous, resilient, strong, stain-resistant, and luxurious. The development of the textile industry in the Asia-Pacific is contributing to the increased demand for mulberry. In the cosmetic industry, silk powder is used in some cosmetics. Silk powder is luxurious under makeup primer that helps to absorb excess oil- but not quite as much oil as our primer.
Asia Pacific region dominated the silk market in 2017 both in terms of value & volume and is estimated to lead the market during the forecast period as well owing to increasing population, growing disposable incomes, and growing textile industries in emerging economies like China, India, etc. China is the biggest producer of silk. Italy has been traditionally the largest importer, processor, and exporter of silk products in Europe. France is another country with a considerable silk processing industry.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data, and projections with a suitable set of assumptions and methodology. The report also helps in understanding the Silk market dynamics, structure by identifying and analyzing the market segments and project the market size.
Further, the report also focuses on a competitive analysis of key players by product, price, financial position, Product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER's analysis, SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the silk market.
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Global Silk Market Key Player Analyzed in the Global Silk Report:
• Wujiang First Textile Co., Ltd.
• Anhui Silk
• Shengkun Silk Manufacturing Co., Ltd.
• Zhejiang Jiaxin Silk Co., Ltd.
• AM Silk GmbH
• China Silk Corporation
• Jinchengjiang Xinxing Cocoon Silk Co., Ltd.
• Bolt Threads Inc.
• Kraig Biocraft Laboratories, Inc.
• Entogenetics Inc
• Wensli Group Co. Ltd.
• Sichuan Nanchong Liuhe
• Wujiang Wanshiyi Silk Co. Ltd.
• Silk India nterational Ltd.
• Global Silk Mills Pvt. Ltd.
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