Global Silk Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Silk Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global silk market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global silk market size reached US$ 17.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 27.2 Billion by 2028, exhibiting a growth rate (CAGR) of 7.5% during 2023-2028.
Silk is a naturally occurring protein fiber produced by insect larvae, primarily the mulberry silkworm. Its production process is known as sericulture, which includes the cultivation of mulberry trees, the rearing of silkworms, and the harvesting and processing of the silk thread. It has an inherent shine, which gives it an opulent look. It also ensures warmth in the winter and cooling in the summer due to its thermal insulation properties. It is less likely to cause allergies than synthetic fibers because of its natural origin. It is often utilized in the manufacturing of parachutes and bicycle tires due to its strength.
Global Silk Market Trends and Drivers:
At present, the rising purchase of luxury garments and high-quality textiles, including silk, represents one of the key factors impelling the market growth. Additionally, there is an increasing utilization of silk in medical applications, such as surgical sutures, wound dressings, and even in some drug delivery systems, due to its biocompatibility and low immunogenicity. Besides this, the growing awareness about the benefits of natural fibers like silk over synthetic ones is positively influencing the market. Moreover, the rising advancements in sericulture technology are allowing for more efficient and cost-effective methods of silk production. In addition, the increasing sustainability concerns are driving the adoption of silk among environment-conscious buyers because it is a biodegradable, natural fiber. Furthermore, the growing adoption of online retail platforms is making it easier for individuals to access silk products. Apart from this, the rising employment of silk in the home furnishing segment, especially for manufacturing items like silk cushions, bedding, and curtains, is contributing to the market growth. Furthermore, the increasing trend of customization and the innovation of new silk blends with other natural or synthetic fibers to create fabrics with unique properties are supporting market growth. Additionally, the growing utilization of silk in beauty products, such as silk pillowcases and eye masks, which reduces friction on the skin and hair and helps to prevent wrinkles, is offering a favorable market outlook.
Global Silk Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
AMSilk GmbH, Anhui Silk Co. Ltd., Bolt Threads Inc., Eastern Silk Industries Ltd., Kraig Biocraft Laboratories Inc., Libas Textiles Ltd., Ongetta srl, Shengkun Silk Manufacturing Co. Ltd., Wensli Group Co. Ltd., etc.
The report segmented the market on the basis of region, type and application.
Type Insights:
- Mulberry Silk
- Tussar Silk
- Eri Silk
- Others
Application Insights:
- Textile
- Cosmetics
- Medical
Regional Insights:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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