The global silk market size reached US$ 18.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.1 Billion by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032. The rising product utilization in the textile industry, the widespread product adoption in cosmetics and personal care products, and the integration of advanced technologies represent some of the key factors driving the market.
Market Size in 2023
|US$ 18.7 Billion
Market Forecast in 2032
|US$ 34.1 Billion
|Market Growth Rate 2024-2032
Silk refers to a natural protein fiber produced by insects and arachnids as building materials for cocoons and webs. It is commercially manufactured in multiple steps, including sericulture, thread extraction, dyeing, spinning, and weaving. Mulberry, spider, sea, Tussar, Eri, and Muga are some commonly used variants of silk. It is widely used in textiles, cosmetics, parachutes, sports apparel, tires, home décor, medical dressings, surgical sutures, and optical materials. Silk is a lightweight, smooth, flexible, elastic, and durable fiber that exhibits excellent tensile strength, dynamic mechanical behavior, wrinkle and abrasion resistance, thermal regulation, and a high affinity for dyes. It is also a highly comfortable, breathable, and easy-to-clean material that offers good absorbency, excellent drape-ability, and a lustrous look. As a result, silk finds extensive applications across the textile, pharmaceuticals, healthcare, cosmetics, and defense industries.
Silk Market Trends:
The rising product utilization in the textile industry across the globe is one of the primary factors driving the market growth. Silk is widely used to produce shirts, trousers, sarees, bridal wear, gowns, ties, suits, formal dresses, pocket squares, robes, coats, camisoles, pajamas, blouses, lingerie, kimonos, and high fashion clothes due to its high quality, luxurious finish, opulent shine, long-lasting characteristic, and enhanced comfort. In addition to this, the increasing product adoption in various home décor applications, such as curtains, bed sheets, duvets, pillows, upholstery, wallpapers, and throw covers, is acting as another growth-inducing factor. Furthermore, the widespread product utilization in various cosmetics and personal care products, such as creams, gels, lotions, soaps, shampoos, conditioners, and nail enamels, owing to its high skin compatibility and moisturizing properties that prevent aging, wrinkling, and skin roughness is providing an impetus to the market growth. Additionally, the integration of advanced technologies, such as cloud platforms, sensors, and artificial intelligence (AI) in sericulture farming to enhance silk quality, improve yield, optimize production, prevent crop failure, and minimize the risk of infection is positively influencing the market growth. Apart from this, the introduction of virus-resistant silkworms that are highly tolerant to diseases, and provide better quality silk, is favoring the market growth. Moreover, rising product demand for various biomedical applications, such as tissue engineering, regenerative medicine, drug delivery, surgical scaffolds, and wound dressing, is propelling the market growth. Other factors, including the introduction of eco-friendly cultivation methods, the implementation of various government initiatives to promote silk production, and the widespread product adoption in the defense industry, are anticipated to drive the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global silk market, along with forecasts at the global, regional, and country levels from 2024-2032. Our report has categorized the market based on type and application.
- Mulberry Silk
- Tussar Silk
- Eri Silk
The report has provided a detailed breakup and analysis of the silk market based on the type. This includes mulberry, tussar, eri, and other silks. According to the report, mulberry silk represented the largest segment.
A detailed breakup and analysis of the silk market based on the application has also been provided in the report. This includes textile, cosmetics, and medical. According to the report, textile accounted for the largest market share.
- North America
- United Kingdom
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for silk. Some of the factors driving the Asia Pacific silk market included the rising consumer expenditure capacities, significant technological advancements, and the implementation of various government initiatives.
The report has also provided a comprehensive analysis of the competitive landscape in the global silk market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include 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. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
| Historical Period
|Scope of the Report
||Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
||Mulberry Silk, Tussar Silk, Eri Silk, Others
||Textile, Cosmetics, Medical
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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.
||10% Free Customization
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||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report:
- How has the global silk market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global silk market?
- What is the impact of each driver, restraint, and opportunity on the global silk market?
- What are the key regional markets?
- Which countries represent the most attractive silk market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the silk market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the silk market?
- What is the competitive structure of the global silk market?
- Who are the key players/companies in the global silk market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the silk market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global silk market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the silk industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.