Latest News- Silk Market: Mulberry is expected to lead the Type segment during 2024-2028

The Silk Market is being driven by Increasing requirement for silk in textile industry

The Silk Market is expected to grow at a CAGR of 9.24% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 5001.8 million. Spider silk, a naturally occurring fiber, boasts exceptional strength, resilience, and flexibility. The fiber's remarkable toughness has piqued the interest of researchers, leading to a surge in R&D activities. This biomaterial's potential applications extend to life-saving ballistics-resistant materials, given its lighter, thinner, more flexible, and tougher properties compared to steel. Kraig Biocraft Laboratories, a leading innovator, has developed a new technology and holds the exclusive rights to utilize patented genetic sequences for fundamental silk proteins. Consequently, the escalating research and development efforts on spider silk are anticipated to fuel the expansion of the global silk market throughout the forecast period. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Mulberry
  • Tussar
  • Eri
  • Muga
• Application
  • Textile
  • Cosmetics
  • Medicine
• End-User
  • Fashion Industry
  • Home Furnishings
  • Healthcare
• Distribution Channel
  • Online Retail
  • Offline Retail
  • Direct Sales
• Geography
  • APAC
    • China
    • India
    • Japan
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • North America
    • Canada
    • US
  • South America
    • Brazil
    • Argentina
  • Middle East and Africa
    • Egypt

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing requirement for silk in textile industry
• Changing fashion trends and growing purchasing power in emerging countries
• Government initiatives

However, the market also witnesses some limitations, which are as follows:

• Health hazards during silkworm rearing
• Increasing consumption of man-made fiber
• Decline in cocoon production in India

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Market Scope in Silk Market Research Report

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Research Analysis Overview

The Silk Market encompasses various types of silk, including those from Silk Worms involved in Sericulture. Spider silk and alternative silks like Mulberry, Tussar, and Eri silk are produced for Cosmetics, apparel, and household items. Silk fibroin and silk polypeptide are key components in Silk-based biomaterials for Medicine and Industrial applications. Cocoon production leads to Reeling, Throwing, Weaving, and Dyeing, creating Natural Fiber products such as Gowns, Wedding gowns, Neckties, Scarves, and various Household items like Wall hangings, Pillows, Upholstery, Draperies, Ties, Shirts, and more.

Market Research Overview

The global textiles market encompasses a broad range of textile categories, including fashion, technical, home furnishings, and others, with a focus on high-quality textiles such as silk. The silk industry, specifically, is a significant contributor to this market, with a growing emphasis on sustainable and eco-friendly silk production. Mulberry silk cultivation techniques are being refined to minimize environmental impact, resulting in bio-based and organic textiles. The manufacturing process for silk involves natural fibers, which aligns with the trend towards premium, fashion-forward, and eco-friendly fashion materials. Textile innovations, including silk yarn and silk garment production, are driving growth in the sericulture industry. The increasing demand for luxury fabrics and eco-conscious textiles is expected to propel the market forward, with silk's unique properties and high-end appeal making it a key player in the global textiles market.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/