Global Silk Market 2024–2033

Reports Description

As per the current market research conducted by the CMI Team, the global Silk Market is expected to record a CAGR of 6.8% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 22,917.3 Million. By 2033, the valuation is anticipated to reach USD 41,428.9 Million.

Top 5 Silk-Producing Countries in 2022

Source: According to International Sericulture Commission

The silk market encompasses the global trade and production of silk, a luxurious and versatile natural fiber derived from the cocoons of silkworms. It includes various stages of the silk production process, from sericulture and cocoon harvesting to silk spinning, weaving, and finishing.

Silk is highly valued for its softness, sheen, and durability, making it a preferred choice for high-end fashion, luxury textiles, and specialty products. The market is driven by factors such as increasing demand for luxury goods, advancements in silk production technologies, and the growing popularity of sustainable and eco-friendly fabrics.

Silk Market – Significant Growth Factors

The Silk Market presents significant growth opportunities due to several factors:

• Increasing Demand for Luxury Textiles: The growing affluence and changing consumer preferences have led to an increased demand for luxury textiles, with silk being highly sought after for its premium quality and luxurious feel.

• Advancements in Sericulture Practices: Ongoing advancements in sericulture techniques, such as improved breeding methods and sustainable farming practices, have resulted in higher silk yields and improved quality, driving the market growth.

• Globalization and Trade Liberalization: The liberalization of trade policies and globalization have facilitated the expansion of silk trade across borders, enabling silk-producing countries to access new markets and cater to diverse consumer preferences.

• Rising Awareness of Sustainable Fashion: Increasing awareness about environmental sustainability has led consumers to seek out eco-friendly fashion choices, including silk products that are produced using sustainable and ethical practices.

• Diversification of Product Offerings: There is an opportunity for silk producers to diversify their product offerings beyond traditional textiles, including silk-based cosmetics, skincare products, and medical devices, catering to evolving consumer needs and preferences.

• Expansion into Emerging Markets: Silk producers can capitalize on the growing demand for luxury goods in emerging markets, such as China, India, and Southeast Asia, by expanding their presence and distribution networks in these regions and tapping into the increasing purchasing power of the rising middle class.

Silk Market – Mergers and Acquisitions

The Silk Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Silk Market include:

• In 2022, Kraig announced a joint venture with MtheMovement, a division of Kings Group, to launch an eco-friendly luxury streetwear apparel line. Through this partnership, MtheMovement will market Kraig’s spider silk fibers, branded as SpydaSilk, catering to the growing demand for sustainable fashion.

• In 2021, Spiber Inc partnered with Archer Daniels Midland Company (ADM) to scale up the production of brewed protein polymer for apparel and consumer goods. This collaboration aims to meet the growing demand for sustainable materials and advance the use of bio-based polymers in various industries.

• In 2021, Bolt Threads, a pioneering startup in the spider silk industry, secured substantial funding of USD 123 million, with USD 106 million contributed by the SEC. This significant investment underscores growing interest and confidence in the potential of spider silk technology.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Silk Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Silk Market – Significant Threats

The Silk Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Competition from Synthetic Fibers: The widespread availability and lower cost of synthetic fibers like polyester pose a threat to the silk market. Consumers may opt for synthetic alternatives due to affordability and ease of care, reducing demand for silk products.

• Pests and Diseases in Silkworms: Outbreaks of pests and diseases in silkworms can significantly impact silk production, leading to lower yields and decreased quality. Diseases such as flacherie and pebrine can devastate silkworm populations, posing a threat to the silk industry.

• Environmental Factors: Climate change and extreme weather events, such as droughts and floods, can adversely affect silk production by disrupting the sericulture process and damaging silkworm habitats. Changes in temperature and precipitation patterns may also impact the quality and quantity of silk produced.

• Labor Shortages and Rising Costs: The labor-intensive nature of silk production makes the industry vulnerable to labor shortages and rising labor costs, particularly in regions where sericulture is a traditional practice. Increased wages and a lack of skilled labor can raise production costs and reduce the competitiveness of silk products in the market.

• Trade Barriers and Tariffs: Trade barriers, tariffs, and geopolitical tensions can disrupt silk trade routes and hinder market access for silk-producing countries. Import tariffs imposed by importing countries may increase the cost of silk products for consumers, limiting demand and affecting market growth. Additionally, trade disputes and political instability can create uncertainty in the silk market, impacting investment and trade flows.

Category-Wise Insights:

By Type

• Mulberry Silk: Mulberry silk is produced by domesticated silkworms fed exclusively on mulberry leaves. It is known for its smooth texture, fine luster, and durability, making it the most widely used silk type in luxury textiles and apparel. Trends in the mulberry silk market include increasing demand for sustainable silk production methods and the development of innovative mulberry silk blends for enhanced performance and versatility in various applications.

• Tussar Silk: Tussar silk, also known as wild silk, is produced by caterpillars of several species of silk moths. It is characterized by its rich texture, natural sheen, and irregularities, giving it a unique and rustic appearance. Trends in the tussar silk market include growing demand for organic and ethically sourced tussar silk, as well as the development of tussar silk blends for niche markets such as eco-friendly fashion and home textiles.

• Eri Silk: Eri silk, also known as endi or errandi silk, is produced by domesticated silkworms that feed on castor leaves. It is valued for its softness, warmth, and hypoallergenic properties, making it suitable for sensitive skin and cold climates. Trends in the eri silk market include the promotion of eri silk as a sustainable and cruelty-free alternative to conventional silk and the development of eri silk-based products for the eco-conscious consumer.

• Muga Silk: Muga silk is a specialty silk produced exclusively in Assam, India, by the larvae of muga silkworms. It is renowned for its natural golden-yellow color, durability, and glossy texture, making it highly prized for traditional Indian garments such as sarees and mekhela chadors. Trends in the muga silk market include efforts to preserve and promote traditional muga silk weaving techniques and the development of muga silk-based luxury products for global markets.

• Spider Silk: Spider silk is a protein fiber produced by spiders for various purposes, including webs, egg sacs, and prey capture. Synthetic and bioengineered spider silk variants are being developed for industrial applications due to their exceptional strength, elasticity, and biocompatibility. Trends in the spider silk market include advancements in bioengineering techniques to produce sustainable and scalable spider silk materials for use in textiles, medical devices, and other high-performance applications.

• Others: The “Others” category encompasses specialty silk types such as reeled silk, non-mulberry silk, and wild silk variants produced by different species of silkworms or insects. Trends in this segment include the exploration of niche markets for specialty silk products, such as luxury textiles, handcrafted goods, and sustainable fashion items, as well as the development of innovative processing methods to enhance the quality and properties of specialty silks.

By Process

• Cocoon Production: Cocoon production involves cultivating silkworms to produce cocoons. Trends include advancements in sericulture techniques to improve yield and quality, as well as the adoption of sustainable farming practices to address environmental concerns and meet the growing demand for ethically sourced silk.

• Reeling: Reeling is the process of unwinding silk filaments from cocoons. Trends focus on automation and mechanization to increase efficiency and consistency in silk reeling, as well as the development of eco-friendly reeling methods to minimize waste and environmental impact.

• Throwing: Throwing involves twisting and winding silk filaments into yarns or threads. Trends in throwing include the adoption of innovative spinning technologies to produce high-quality silk yarns with enhanced strength, uniformity, and texture, catering to diverse customer preferences in the textile and fashion industries.

• Weaving: Weaving is the process of interlacing silk yarns to create fabrics. Trends in silk weaving include the use of computerized looms and digital weaving technologies to achieve intricate designs and patterns, as well as the exploration of sustainable weaving practices to reduce water and energy consumption in textile production.

• Dyeing: Dyeing involves coloring silk fabrics or yarns using dyes or pigments. Trends in silk dyeing focus on the development of eco-friendly dyeing techniques, such as natural dye extraction from plant sources, to minimize environmental pollution and meet the growing demand for sustainable and non-toxic textile products.

• Others: The “Others” category encompasses various additional processes in the silk industry, such as printing, finishing, and garment manufacturing. Trends include the adoption of digital printing technologies for customized silk designs, as well as the implementation of sustainable finishing processes to enhance fabric properties while minimizing environmental impact.

Report Scope

Silk Market – Regional Analysis

The Silk Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:

• North America: In North America, the trend in the silk market revolves around sustainability and ethical sourcing. Consumers increasingly demand transparency in the supply chain and prefer silk products that are produced using eco-friendly and socially responsible practices. This trend has led to the emergence of niche brands and retailers focusing on sustainable silk production and fair-trade principles.

• Europe: In Europe, the trend in the silk market centers on luxury and craftsmanship. European consumers value high-quality silk products that showcase superior craftsmanship and timeless elegance. This trend drives demand for premium silk textiles, apparel, and home furnishings, with a preference for bespoke and artisanal silk products that embody European heritage and sophistication.

• Asia-Pacific: In the Asia-Pacific region, the trend in the silk market is characterized by innovation and technological advancement. Countries like China, India, and Japan are investing in research and development to enhance sericulture practices, silk processing technologies, and product innovation. This trend has led to the development of sustainable silk production methods, eco-friendly dyeing techniques, and innovative silk-based products tailored to modern consumer preferences.

• LAMEA (Latin America, Middle East, and Africa): In the LAMEA region, the trend in the silk market focuses on heritage and cultural preservation. Countries with a rich history of silk production, such as Brazil, Morocco, and Iran, are promoting traditional sericulture practices and indigenous silk weaving techniques to preserve cultural heritage and support local artisans. This trend emphasizes the authenticity and cultural significance of silk products, attracting tourists and international markets.

Competitive Landscape – Silk Market

The Silk Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:

• Anhui Silk Co. Ltd.
• Wujiang Silk Co. Ltd.
• Jiangsu Sutong Cocoon & Silk Co. Ltd.
• Wensli Group Co. Ltd.
• Zhejiang Jiaxin Silk Co. Ltd.
• Jiangsu Xinmin Textile Science & Technology Co. Ltd.
• Shengkun Silk Manufacturing Co. Ltd.
• China Silk Corporation
• Hangzhou Cocomo Silk Co. Ltd.
• Sichuan Nanchong Liuhe (Group) Corp.
• Guangzhou Yunyin Silk Factory
• Zhejiang Zhuji Sanren Xinyuan Silks Co. Ltd.
• Jiangsu Tiansheng Group Co. Ltd.
• Suzhou Hengrun Import & Export Corp.
• Zhejiang Cathaya International Co. Ltd.
• Others

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

New players in the silk market, such as innovative startups and niche brands, are adopting technological advancements and sustainable practices to enter the market. These companies leverage innovations in sericulture, processing, and product development to differentiate themselves and capture market share.

Meanwhile, key players dominating the market include established silk producers with strong brand recognition, extensive distribution networks, and vertically integrated operations. These dominant players leverage economies of scale, invest in R&D, and maintain quality control to ensure consistent supply and meet the diverse needs of global consumers, securing their market leadership.

The Silk Market is segmented as follows:

By Type

• Mulberry Silk
• Tussar Silk
• Eri Silk
• Muga Silk
• Spider Silk
• Others

By Process

• Cocoon Production
• Reeling
• Throwing
• Weaving
• Dyeing
• Others

By Application

• Textiles
• Home Textiles
• Cosmetics and Medical
• Industrial
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America