Silk Market Size, Share, Industry, Forecast and outlook (2023-2030)
Globally majority of the commercial silk produced is from mulberry and is referred to as mulberry silk. Governments are taking initiatives to increase the production of mulberry silk due to its increasing demand. Although China is the major producer of silk, the climatic conditions of India are more favorable for mulberry silk production.The silk market is segmented by type, application, and geography. The market is segmented into mulberry silk, eri silk, Tasar silk, Muga silk, and other types. By application, the market is further segmented by textiles, cosmetics, medicine, and others. Whereas by geography, the market is divided into North America, South America, Europe, Asia Pacific, and the Rest of the World.
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Market Dynamics
Increasing the requirement for silk in the textile industry, Changing fashion trends, and increasing purchasing power in emerging countries to boost the silk demand.The major growth drivers of the global silk market will be the developing economies, mainly China and India, both growing in double digits. China will become a major apparel market in the coming days, while India will be the second most attractive apparel market.
Silk is a completely natural fabric; hence it is a completely sustainable product. Moreover, it is an all-climate fabric, skin sensitive, durable, and healthy. Therefore, the growing textile industry in developing economies, improving people's spending power and user-friendly properties of silk, will aid the growth of silk consumption over other material types.
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Segment Analysis
Handspun mulberry silk is used in making comforters and sleeping bags. Other variety fabric materials like dupions, plain silk, deluxe, satin, chiffon, chignons, crepe, and brocades are made from mulberry silk. Carpet, furnishing, curtains, draperies, cushion covers, and sofa covers wall hanging. However, the disadvantage of using mulberry silk is that it requires extra care to maintain its smooth texture. Based on application, the silk market is classified into textile, cosmetics, medicine, and others. Textile is the fastest-growing application of silk. Silk is an important contributor to the textile industry, which is continuously growing and developing in demand and supply.Silk is the strongest natural fiber comfortable to wear and drapes admirably resistant and companion of women worldwide. Moreover, environmentally friendly, healthy textile fiber. Silk is used in dress material for women, for men also like ties, shirts, jerkins, socks, and t-shirts
Competitive Landscape
Some of the major players include Eastern Silk Industries, Eris Global LLP, The Ethical Silk Company, Hellenic Silk Company, Chamundi Textiles, Hangzhou Zhigeng Silk Co., Ltd, Anhui Silk, Zhejiang China Ting Jincheng Silk Co. Ltd, Ongetta Srl unipersonal, and Bolt Threads Inc.
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