Silk is the natural protein fiber and is composed of fibroin. Fibroin is produced from the insect’s larva which forms cocoons. The best quality of silk is obtained from these cocoons. Silk is soft, shimmering and shiny fiber used by the textile industry for the manufacturing of clothes. The shimmering form of silk is due to the prism like triangular formation of the silk fiber. The growing demand for silk is expected to boost the growth in global silk market with a CAGR of 7.8% during the year 2016 – 2023. The silk market is used in textile as well as cosmetic industry. 3D silk artificial eye lashes are one of the current trends which has increased the demand of the silk market globally. The driving factors which are contributing in the growth of the silk market are technological advance in sericulture and it is low capital incentive industry.
Sericulture industry plays a significant role for the enhancement of the overall demand of the silk market. Sericulture is known as farming of silk. It consists farming of silkworms to produce silk fibers that is the yarn acquired from cocoons spun by silkworm insects. Increase in the sericulture industry is driving the demand for the silk market globally. According to international sericulture commission, the major market for the sericulture is China, India, Korea, Japan, Thailand, Iran etc. The leading producers of silk are in Asia which produces approx. 90% of mulberry silk and approx. 100% of non-mulberry silk in 2015. Sericulture is labor-intensive market which requires large number of the labor for the silk farming practice. According to international sericulture commission in China approx. 1 million labors are employed in the silk sector in 2015.In India, silk industry provides approx. 7.9 million people employment and in Thailand approx. 20,000 number of weaving families in 2015. China is the world's single largest producer and topmost supplier of silk to the world market. The second largest producer is India according to international sericulture commission.
Another driving factor for the growth of the silk market is the low capital-intensive industry. Silk market requires less investment as it does not need complicated machines and equipment’s for its production. It is totally dependent on the production of the cocoons from the insects. It is more labor intensive as compared to the investment intensive industries. So, the cultivation of silk does not need for large investment. High demand from textile industry and emerging spider silk is the key opportunity in the silk market. However, higher dependency on China for the silk raw material is hampering the demand of the of the silk market as there are limited producers in the silk market. The major challenges faced by silk market are high cost of silk raw material and labor-intensive industry.
Source: OBRC Analysis.
The global silk market report includes type and application.
Silk type segment contains:
- Mulberry silk
- Tussar silk
- Eri silk
- Spider silk
Application of silk market includes:
Textile
Cosmetics & Medicine
The report scope is widely categorized on the basis of its type which includes mulberry silk, tussar silk, eri silk and spider silk. Moreover, the market revenue estimates and forecast includes only different type of silk market and excludes other type of textile such as cotton, nylon etc.
Geographically, the global silk market has been segmented based on four major regions, which include:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
Asia Pacific is the dominating and fastest growing region during forecast period 2016 to 2023. The driving factor which is responsible for the growth of the silk market in Asia Pacific is technological advancement in the sericulture and easy availability of raw silk in Asian counties such as China, India etc. According to international sericulture commission, China is the biggest producer of the silk. According to international trade center, the annual turnover of the china national silk import and export was$2-2.5 billion in 2016.North America is expected to account the largest market share of the silk market during forecast period (2016-2023). The driving factors of the silk market is low capital requirement in this industry and increase in the requirement of silk in the textile industry. According to national council of textile organization, the U.S. is the fourth biggest exporter of textile products across the globe. In 2016 the combined export of apparel, fiber and textile were approx. $26.3 billion in U.S.
The global silk market is segmented based on type and application. The application is further sub divided into textile and cosmetics & medicine. Textile is the estimated as the largest segment of the silk market, due to rise in demand of silk products in the textile industries of Asia-Pacific and Europe. Silk is applied in the textile industry as it is lightweight, lustrous, resilient, strong, stain-resistant and luxurious. The type is further sub divided into mulberry silk, tussar silk, eri silk and spider silk. The mulberry silk segment is estimated to dominate the silk market all over the world due to its flexibility, durability and high strength. Mulberry silk is mainly used in the manufacturing of textile such as gowns, blouses, apparel, scarves, wedding dresses, as well as in interiors such as draperies, wall hangings, and pillows. The growth of the textile industry in the Asia-Pacific is also contributing in the increasing demand of mulberry silk in the Asia-Pacific region.
The major market players of the global smart security market are:
- Anhui Silk Co. Ltd. (China)
- Bolt Threads Inc. (U.S.)
- Entogenetics, Inc. (U.S.)
- Jiangsu Sutong Cocoon & Silk Co. (China)
- Spiber Technologies (Sweden)
- Wujiang First Textile Co., Ltd. (China)
- Wensli Group Co. Ltd (China)
- Others
The report covers detailed analysis of companies which comprises overview, SCOT analysis, product portfolio, strategic initiative, strategic analysis, competitive landscape and market share analysis in silk market.
Key reason to buy the report:
- The report includes market estimation, forecast and analysis for the year 2016-2023.
- Report includes detailed analysis of different segments such as type and applications of silk.
- Identify, understand, and the strength, opportunities, challenges and threat of the silk market.
- Covers details analysis of Porters 5 force model and other strategic models and covers revenues, market share analysis, competitive landscape analysis of major players of silk market.
- Detailed analysis of various the regulatory policies which are affecting the silk market.
How we are different from others:
At Occam’s we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global silk market offers detailed analysis of strategic models such as investment vs. adoption model, see saw analysis and others strategic models. Also, the report contains the detailed analysis of application, adoption scenario and decision support for each segment. The report discusses competitive landscape of the silk market, with giving extensive SCOT analysis of key companies.
Key findings of the global silk market.
- Increasing silk demand in the textile industry is fueling growth in global silk market.
- Asia Pacific is anticipated to account the largest revenue share in 2016.
- Spider silk is the new trend in the silk market due to growing adoption of silk in the cosmetics and medicine industry.
- Textile sector is the major segment held the large revenue share in 2016 due to increase in the production of the silk.