Silk Market Forecasts to 2030 – Global Analysis By Product (Mulberry Silk, Tussar Silk, Eri Silk, Muga Silk, Spider Silk and Other Products), Production Process, Application and By Geography

Silk Market Forecasts to 2030 – Global Analysis By Product (Mulberry Silk, Tussar Silk, Eri Silk, Muga Silk, Spider Silk and Other Products), Production Process, Application and By Geography

According to Stratistics MRC, the Global Silk Market is accounted for $22.3 billion in 2024 and is expected to reach $39.2 billion by 2030 growing at a CAGR of 9.8% during the forecast period. Silk is a natural fiber produced by silkworms, primarily from the Bombyx mori moth larvae. It is known for its softness, smooth texture, and shiny appearance, making it highly valued in textiles. Silk fibers are composed of fibroin, a strong yet lightweight and flexible protein. Originating in China over 4,000 years ago, silk production, known as sericulture, has spread globally. The fabric is highly sought after in fashion for its luxurious feel and durability, and its versatility extends to home furnishings, medical sutures, and industrial uses.

Market Dynamics:

Driver:

Increasing demand for luxury and premium textile products

Silk, a symbol of elegance and luxury, is a popular material for high-end apparel, including designer dresses and evening wear. The increasing demand for silk-based garments, particularly in emerging markets, is driven by the increasing number of affluent consumers and is also popular for bridal wear and special occasions due to its luxurious texture and appearance. Fashion houses and designers are expanding their collections with silk, boosting demand for exclusive, limited-edition garments, aligning with consumer preferences for unique, high-quality, and aesthetically appealing clothing.

Restraint:

Labor-intensive production process

Silk production, a traditional method, is slow and requires significant human labor to ensure quality. Unlike synthetic fibers, silk production is slower and requires skilled labor. Sericulture regions heavily rely on skilled labor, but the number of skilled workers is often limited, and training new workers can be time-consuming. This restricts the scalability of silk production and its ability to quickly respond to market demand.

Opportunity:

Growing popularity of eco-friendly and natural fibers

Silk, a natural protein fiber, is gaining popularity as a sustainable alternative to synthetic fibers like polyester. As concerns about the environmental impact of synthetic fibers rise, silk is seen as a premium eco-friendly product. Brands emphasizing transparency in sourcing and the environmental benefits of silk production are positioning silk as a luxurious yet responsible option for eco-conscious consumers, benefiting the silk market.

Threat:

Competition from synthetic fibers

Synthetic fibers are increasingly popular due to their versatility, performance benefits, and ease of maintenance and are seen as fashionable and contemporary, due to advancements in fabric technology. They are practical, easy to care for, and come in various colors, textures, and finishes. Innovations like moisture-wicking, stretchability, and wrinkle resistance have made them popular in activewear, sportswear, and casual clothing. This reduces demand for delicate materials like silk hampering the market growth.

Covid-19 Impact

The COVID-19 pandemic significantly impacted the silk market, disrupting production and supply chains due to lockdowns and labor shortages. The demand for luxury goods, including silk, also declined as consumers prioritized essential items. Additionally, international trade restrictions hampered silk exports, further affecting market growth. However, the market showed signs of recovery as global economies reopened, and the demand for premium textiles in the post-pandemic era began to rebound.

The tussar silk segment is expected to be the largest during the forecast period

The tussar silk is expected to be the largest during the forecast period as it offers a unique and less commercially produced alternative to mulberry silk, catering to consumers seeking unique and eco-friendly textiles. Its rustic, organic appearance is valued in ethnic and traditional garments, attracting a niche customer base. Tussar silk's use in fashion and interior design has enhanced its appeal, particularly for buyers prioritizing uniqueness over mass production.

The weaving segment is expected to have the highest CAGR during the forecast period

The weaving segment is expected to have the highest CAGR during the forecast period because traditional handloom weaving and modern mechanized looms differ in production scale. Traditional methods allow intricate designs, while mechanized weaving enables mass production at lower costs. However, the shift towards mechanized weaving in certain silk market segments may diminish the fabric's authenticity and uniqueness, potentially affecting its appeal to luxury buyers.

Region with largest share:

North America is anticipated to hold the largest market share during the forecast period owing to growing trend in North America toward sustainable and ethically produced fabrics. Consumers are shifting towards eco-friendly materials, increasing demand for natural fibers like silk. Ethical production practices, fair wages, and sustainability resonate with environmentally conscious buyers. North American consumers are turning to silk brands prioritizing sustainability and ethical sourcing, benefiting the market for eco-conscious silk products.

Region with highest CAGR:

Asia Pacific is expected to hold the highest CAGR over the forecast period due to growing silk consumption in countries like China, India, Japan, and South Korea. Silk is associated with luxury, tradition, and cultural heritage, particularly in India, where it is used for wedding garments and traditional attire. The growing middle class and disposable income in these countries have led to a surge in demand for luxury and premium silk products, such as high-end clothing, bedding, and accessories. This trend is also observed in Japan and South Korea, where silk remains a symbol of opulence and quality.

Key players in the market

Some of the key players in Silk market include AM Silk GmbH, Anhui Silk Co. Ltd., Bolt Threads, China Silk Corporation, Entogenetics Inc, Jiangsu Sutong Cocoon And Silk Co., Jinchengjiang Xinxing Cocoon Silk Co., Ltd., Kraig Biocraft Laboratories, Inc., Libas Textiles Ltd., ShengKun Silk Manufacturing Co., Ltd., Sichuan Nanchong Liuhe (Group) Corp., Silk India international Ltd., Wensli Group Co. Ltd., Wujiang First Textile Co., Ltd. and Zhejiang Jiaxin Silk Co Ltd.

Key Developments:

In November 2023, Bolt Threads secured significant partnerships for the commercial production of their bioengineered silk and ""Mylo"" leather, which is produced from mycelium. This collaboration is set to expand their sustainable product line further into fashion and textiles. The company continues to push its mission of replacing animal-derived materials with innovative biofabricated alternatives.

In October 2023, Wujiang First Textile Co. continued to lead the Chinese silk fabric market with its high-quality raw silk and fabric production. The company has committed to improving its environmental sustainability practices as part of its broader market strategy

In September 2023, Entogenetics has been progressing with its biotechnology platform for producing silk proteins, with applications in medical devices and textiles. The company has been ramping up efforts to commercialize its spider silk production, targeting sustainable and high-performance material markets.

Products Covered:
• Mulberry Silk
• Tussar Silk
• Eri Silk
• Muga Silk
• Spider Silk
• Other Products

Production Processes Covered:
• Sericulture
• Reeling
• Throwing
• Weaving
• Other Production Processes

Applications Covered:
• Textiles & Apparel
• Home Furnishings
• Surgical Sutures & Wound Dressings
• Cosmetics & Personal Care
• Luxury Goods & Accessories
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements