The global silk market is anticipated to reach a valuation of USD 20.0 billion in 2024, driven by market expansion in non-traditional regions. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 8.4% between 2024 and 2034, and reaching a total valuation of approximately USD 44.6 billion by 2034.
A major factor contributing to the growth of the market is the consumer education and awareness campaigns. Educating consumers about the benefits of silk, its production process, and its cultural significance can help create demand and stimulate market growth. Consumer education and awareness campaigns, including marketing initiatives, social media campaigns, and educational workshops, can foster appreciation for silk products and support sustainable consumption practices.
Implementation of quality standards and certification schemes for silk products can enhance consumer confidence and trust in the authenticity and quality of silk. Certification programs for organic silk, fair trade silk, and sustainable silk production practices can differentiate products in the market and appeal to ethically conscious consumers.
Advancements in sericulture technology, including automated silk rearing systems, precision farming techniques, and genetic improvements in silkworm breeds, can increase productivity, reduce production costs, and improve silk quality. Investments in research and development to enhance sericulture practices can drive innovation and competitiveness in the silk industry.
Key Takeaways from the Market Study
- Global silk market was valued at USD 3 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 9.6%.
- The market in Japan is expected to expand at a CAGR of 9.4% through 2034.
- By type, the eri silk segment to account for a CAGR of 8.2% through 2034.
- The absolute dollar growth of the market is projected to reach a value of US$ 24.6 billion during the forecast period.
- The market in the United Kingdom is expected to expand at a CAGR of 9.2% through 2034.
Competitive Landscape
Prominent players in the silk market are Bolt Threads, ShengKun Silk Manufacturing Co., Ltd., Sichuan Nanchong Liuhe (Group) Corp, Anhui Silk Co. Ltd, Zhejiang Jiaxin Silk Co., Ltd, Wujiang First Textile Co., Ltd., Wujiang Wanshiyi Silk Co. Ltd., Jiangsu Sutong Cocoon And Silk Co, Amsilk GmbH, and Libas Textiles Ltd., among others.
Key Product Offerings
- Liuhe Corp., as a leading silk producer specializes in the production and distribution of high quality silk products. Their portfolio encompasses a wide range of silk textiles, from luxurious silk fabrics to delicate silk accessories, serving diverse customer segments worldwide.
- Anhui Silk Co. Ltd is recognized for its comprehensive portfolio of silk products, including mulberry silk, silk fabrics, silk garments, and silk home textiles. The company continually explores new techniques and designs to meet evolving consumer preferences, with a focus on sustainability and innovation.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global silk market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the silk market, the market is segmented on the basis of type (eri silk, mulberry silk, tussar silk, others), and end user (textile, cosmetics and medical), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
About the Consumer Product Team at Future Market Insights
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