Silk Market

Global Silk Market Size (2024 to 2032)

The global silk market was worth USD 30.77 billion in 2024 and this value is predicted to grow at a CAGR of 11.32% from 2024 to 2032 and be worth USD 72.56 billion by 2032 from USD 30.77 billion in 2024.

The manufacturing of silk by nurturing silkworms is known as sericulture. Silk is highly made by the larvae of insects that are in the procedure of finishing metamorphosis, but some of the insects, like web spinners and raspy crickets, create silk throughout their lives. Textile is the quickest-developing application of silk. Silk is a significant giver to the textile firm that is persistently advancing and developing based on call and supply. The radiant look of silk is owing to the triangular prism-like shape of the silk fiber that assists silk cloth to refract approaching the light at numerous angles, thereby creating various colors. Besides the textile market, silk also has uses in medical and cosmetics. The mulberry silk sector has ruled the market based on worth and volume and is projected to continue its lead in the coming years.

Current Scenario of the Global Silk Market

The silk market needs limited funds as it does not require complex machines and gadgets for its manufacturing. It is more labor-concentrated when contrasted to investment-focused industries. These factors boost the development of the sector. High calls from the textile, cosmetic, and medical businesses pave the way for advancement opportunities in the silk market. Nevertheless, the high prices of raw silk mainly hamper the silk industry. The rising call in Europe, combined with the increasing request for textile goods, is projected to drive the worldwide silk industry during the estimated period. Silk's absorbency makes it a lot more comfortable to wear, mainly in warm weather. Its less conductivity lets warm air close to the skin throughout cold weather. This raises the employment of silk for clothing like shirts, formals, high fashion clothing, pajamas, robes, suits, and sundresses.  Silk is a habitual protein fiber highly made from fibroin and is produced from specific insect larvae to form cocoons. 

MARKET DRIVERS

The recent improvements in the quality of silk will likely drive the demand for mulberry silk and support the expansion of the global silk market.

The rapid development of the textile sector, where silk plays a vital role, is also promoting the growth of the silk business worldwide. Textile is the fastest-growing application of silk. Silk significantly contributes to the textile market, which is significantly growing and rising based on demand and supply. The escalating demand for luxury garments, which are of high quality and affordable prices, is propelling the market growth. The rising disposable incomes of the people, growing awareness among the people regarding fashion, and the enlarging fashion industry are significant factors contributing to the expansion of the global silk market. Continuous innovations in the textile industry regarding blends and finishes are escalating the application of the fabric, leading to market growth. The increasing cultural significance in various emerging regions, particularly in Asian countries, will further boost the textile industry, positively impacting silk production.

The rising advancements in the sericulture industry will propel the silk market growth worldwide.

The ongoing developments in sericulture technology are also encouraging the growth of the silk market. The low funds required to manufacture this specific product are estimated to drive market expansion further. The silk market involves comparatively fewer investments as it does not need complicated machines and equipment. It is more labor-intensive than investment-intensive businesses. These factors boost the expansion of the market. The advancements include better breeding practices for silkworms, enhanced disease control, and improved feed quality, resulting in better production and fueling global market growth.

The growing demand for silk in the cosmetics and medical industries will accelerate the market growth opportunities.

High calls from sectors like textile, cosmetic, and medical businesses create various development opportunities in the silk market. The rising demand for silk proteins in the cosmetic industry due to their high-end moisturizing and anti-aging properties will augment the market growth in the coming years. The silk threads' biocompatibility, strength, and flexibility make them suitable for sutures, tissue engineering, and medical implants, enhancing their adoption in the medical sector and leading to market growth. These silk applications in various industries are opening opportunities for the growth of the global silk market. 

MARKET RESTRAINTS

The high expense of raw silk mainly restrains the global silk market.

The lack of proper sales channels in some parts of the developing countries also limits the overall business expansion. Cosmetics is a promising area, which is estimated to provide tremendous expansion opportunities for the advancement of the global silk market in the future years. The increasing technological advances and the changing fashion preferences of consumers are supposed to create huge growth potential for the development of this industry across the globe. The availability of various substitute materials at more affordable prices is estimated to hamper the expansion of the silk market in the future years. Also, the high reliance on the Chinese market can be a threat to the market.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Silk Market Analysis By Type

The mulberry silk segment dominated the global market with a prominent market share due to its premium quality and wide availability.

The silkworms used for the production of mulberry silk are widely known for their fineness and strength, which drives the segment growth. Mulberry silk is in massive demand due to its extensive use in high-quality textiles and home furnishings, which fuels the segment's revenue growth. Mulberry silk is mainly used to enhance the base fiber properties and natural fibers like cotton, boosting the demand for the segment and expanding the segment size. Mulberry silk is widely adopted for its characteristics, such as solid fibers, a glossy sheen, and a smooth texture, which positively impact market growth. Mulberry production is high in the Asian region, especially in countries like China and India, which increases the segment's revenue.

The Tussar silk segment held the second-largest share in the market and is expected to maintain its domination during the forecast period.

Tussar silk is widely known for its rich texture and natural gold color, gaining traction among manufacturers who are adopting the technique and leading to segment revenue growth. Tussar silk, also known as 'wild silk,' is predominantly produced in India and is extensively used in Indian textiles, which drives revenue growth in the segment.

The eri silk segment is estimated to grow steadily in the coming years. The eri silk is highly popular among the vegan and ethical fashion markets as it was produced in a non-violent process, augmenting the segment size growth. The presence of a heavy texture and wool makes it suitable for clothing and home furnishings, boosting the market growth.

Global Silk Market Analysis By Application

The textile segment accounted for the most significant global market share and is anticipated to grow considerably during the forecast period.

The increased demand from the textile industry for silk, as it is associated with luxury and quality, making it highly valuable in producing textile products, is propelling the segment's growth rate. The rising middle-class families, growing disposable incomes of the people, and the enlarging fashion industry in most emerging regions contribute to the escalating demand for silk in the textile industry, leading to market growth. The rising innovations in the textile industry, with new blends, further lead to substantial market growth.

The cosmetics segment is projected to grow considerably during the forecast period. The rising demand for natural protein structures in the cosmetics industry due to their benefits in skin and hair care products propels the segment revenue growth.

The increased usage of silk proteins in various cosmetics, from creams and serums to make-up products, is fueling the segment growth. Silk proteins are widely known for their moisturizing and anti-aging properties, which boosts the adoption of silk in cosmetics. The growing consumer preference for natural and organic products escalates the demand for silk in the cosmetic industry.

The medical segment is estimated to increase during the forecast period due to its biocompatibility, strength, and flexibility, making it a suitable material for several medical applications.

The silk material is used for sutures, tissue engineering, and biodegradable implants; the escalating research and innovations in the medical sector will create opportunities for market growth, especially in advanced wound care.

REGIONAL ANALYSIS

The Asia Pacific region dominated the global silk market revenue with a prominent market share and is expected to maintain the dominance during the forecast period.

Asian countries like China and India hold the largest share as these are considered the largest producers and significant consumers in the global market due to their hard-core textile industry, which augments the regional market growth rate. The increasing disposable incomes of the people are enhancing the investments in quality clothing, which fuels the market share growth across the region. China is widely known for its silk weaving techniques and craftsmanship, estimated to be passed through the generations, enhancing the regional market size. Japan accounts for its high-quality silk products and traditional textiles. Japanese silk is gaining traction for its softness, luster, and high-quality craftsmanship, creating growth opportunities in the regional market.

The North American region held the second-largest global market share due to increasing demand for luxury goods and high-quality textile products.

Consumers are showing massive interest in high-end fashion and home-décor products, escalating the region's market growth opportunities. The accelerating technological advancements in the textile and cosmetics industry are estimated to propel the market growth in the region. The presence of well-established cosmetics and medical industries across the region enhances awareness regarding the product's unique properties and drives the regional market growth.

The European silk market is driven by its fashion industry, and the presence of expensive and premium brands will escalate the market growth opportunities during the forecast period.

European countries like France and Italy are known for their high-quality products in the fashion industry and luxury apparel. European people are showing interest in highly sustainable and ethically produced products, and rising demand for organic and environment-friendly products is leading to market size growth in the region.

The Latin American region is estimated to have a moderate growth rate during the forecast period.

Due to rising awareness among the people regarding the quality and luxury products and the expanding home décor industry. Countries like Brazil and Mexico contribute to the market growth due to the emerging textile market.

The Middle East and African silk market is expected to develop at a considerable CAGR in the coming years.

Owing to rising demand for luxury goods. The growing tourism is enhancing the textile and cosmetics industry revenue due to increasing consumers' interest in shopping with tourists, fueling the region's market growth.   

KEY PLAYERS IN THE GLOBAL SILK MARKET

Companies playing a major role in the global silk market include Anhui Silk Co. Ltd., Wujiang First Textile Co., Ltd., Zhejiang Jiaxin Silk Co., Ltd., Sichuan Nanchong Liuhe (Group) Corp., ShengKun Silk Manufacturing Co., Ltd., Jiangsu Sutong Cocoon & Silk Co., Wensli Group Co. Ltd., China Silk Corporation, WujiangWanshiyi Silk Co. Ltd. and JinchengjiangXinxing Cocoon Silk Co., Ltd., and Others.

RECENT HAPPENINGS IN THE MARKET

• In January 2024, AMSilk GmbH and Danish 21st.BIO A/S announced they would collaborate to accelerate the expansion of AMSilk's recombinant spider silk protein manufacturing using E. Coli.
• In December 2023, Kraig Biocraft Laboratories Inc. reported successfully creating a batch of recombinant spider silk, marking an early start to the production season. The silk's triumphant arrival proves the company's intended manufacturing strategy.
• In October 2023, Bolt Threads Inc. announced that it had reached a final agreement to merge with Golden Arrow Corporation.
• In 2022, Kriag announced a joint venture with MtheMovement, a division of Kings Group, to launch an eco-friendly luxury streetwear apparel line. This partnership will allow the MtheMovement to market Kraig's spider silk fibers as branded SpydaSilk to meet the growing demand.

DETAILED SEGMENTATION OF THE GLOBAL SILK MARKET INCLUDED IN THIS REPORT

This research report on the global silk market has been segmented and sub-segmented based on the type, application, and region. 

By Type

• Mulberry Silk
• Tassar Silk
• Eri Silk
• Muga Silk

By Application

• Textile
• Cosmetics
• Medical

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa