Silk Market to Reach Valuation of USD 28.53 Billion by 2030 –Technological Advancement in Sericulture Drives the Market

In terms of revenue, the Global Silk Market is expected to reach by 2030, growing at a CAGR (Compound Annual Growth Rate) of 7.5% from 2023 to 2030.

Numerous household products, including wall hangings, cushions, upholstery, draperies, and multiple forms of clothes, including dresses, bridal gowns, neckties, and scarves, sometimes contain Silk. In addition, Silk is used more frequently in ties, shirts, haute couture clothes, formal dress suits, robes, kimonos, and sundresses because it conducts electricity less than other textiles. The aforementioned significant aspects are anticipated to raise demand for Silk, which might finally result in a thriving global market. Because producing Silk does not require sophisticated machinery and equipment requires less investment. Globally, the Silk industry employs more people per dollar invested than other industries. These elements are anticipated to support market expansion. In the coming years, expanding research and knowledge regarding Seri-by-products and seri-waste products will be crucial for developing the Silk protein market. The presence of dipeptides and tripeptides within Silk protein, which can readily transit from the dermis skin layer into the bloodstream, is one of the crucial factors contributing to the rising use of Silk protein across various industries. Additionally, Silk protein is helpful for many cosmetics and supplement manufacturing applications due to the availability of ingredients such as natural amino acids.

Key Highlights from the Report

• From among Types, the Mulberry Silk segment is anticipated to dominate the Silk market with the highest market share during the forecast period. A rise in the use of mulberry Silk in contemporary clothing, including sarees, is one factor that is anticipated to contribute to the segment's growth.
• Based on the End User Industries, the Textile segment accounted for the highest CAGR in the forecast period. Textiles are the top consumer of various types of Silk because they have excellent qualities like being lightweight, having a luxurious feel, and having tremendous strength.
• Geographically, Asia Pacific held the largest market share in 2021 and is likely to be the most profitable market in the forecast period. This is a result of multiple influential players and the increase in aggressive marketing techniques.

Market Dynamics

The demand for textiles and apparel is continually rising and changing, and Silk is one of the most critical global contributors to this industry. The luxurious feel, shiny appearance, resilience, strength, and light weight of Silk fiber are just a few of its many attributes. As a result, Silk is frequently used in various garments, including dresses, bridal gowns, neckties, and scarves, and in different home furnishings, including wall hangings, pillows, upholstery, and draperies. Silk also conducts less electricity than other materials, which encourages the usage of the material in ties, shirts, haute couture clothing, formal dress suits, robes, kimonos, and sundresses. The aforementioned significant elements are anticipated to enhance demand for Silk, which might finally result in a thriving worldwide Silk market expansion.

Because producing Silk does not require sophisticated machinery or equipment requires less investment. Labor-intensive industries require more capital than investment-intensive ones. These elements support the market's growth. The development of the Silk market trend in the coming years will depend heavily on expanding research and information about seri-by-products and seri-waste products. The availability of dipeptides and tripeptides in Silk protein, which may readily enter the circulation from the dermis skin layer, is one of the main factors contributing to its expanding use in several industries. Additionally, Silk protein is attractive to numerous end customers in the cosmetics and supplement production industries due to the inclusion of ingredients like natural amino acids.

However, the fluctuation of Silk material costs is one of the elements restricting the expansion of the size of the global Silk market. Furthermore, inadequate market and storage facilities, poor transportation alternatives, and a lack of knowledge about market trends, particularly in developing nations like India, Brazil, and Uzbekistan, hinder the global Silk business.

During the forecast period, the Asia Pacific Silk market is anticipated to have a substantial growth rate. The Asia Pacific Silk market is fiercely competitive, and top industry players employ a variety of tactics to capture a significant portion of the region's market. The Asia Pacific Silk industry is dominated by Asian nations, including China, India, Thailand, and Uzbekistan. Moreover, the surge in startups with unique technologies and the expanding global population are significant factors in the demand for Silk.

The Global Silk Market is Segmented as follows

• Types
  • Mulberry Silk
  • Tussar Silk
  • Eri Silk
  • Other Types
• End Users
  • Textile
  • Cosmetics
  • Medical
• Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

List of the Key Players of the Global Silk Market is

Anhui Silk Co. Ltd. (China), AmSilk GmbH (Germany), Wujiang First Textile Co. Ltd. (China), Zhejiang Jiaxin Silk Co. Ltd. (China), Sichuan Nanchong Liuhe (Group) Corp. (China), ShengKun Silk Manufacturing Co. Ltd. (China), Wujiang Wanshiyi Silk Co. Ltd. (China), Libas Textiles Ltd (Bangladesh), Bolt Threads (U.S.), Jiangsu Sutong Cocoon And Silk Co. (China)

The Global Silk Market Scope can be Tabulated as below