Silk Market Share Will Hit USD 34.1 Billion By 2032 | Growth With Recent Trends & Demand

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Silk Market Share Will Hit USD 34.1 Billion By 2032 | Growth With Recent Trends & Demand
The global silk market size reached US$ 18.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 34.1 Billion by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032.

Summary: 

  • The global silk market size reached USD 18.7 Billion in 2023.
  • The market is expected to reach USD 34.1 Billion by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032.
  • Asia Pacific leads the market, accounting for the largest silk market share.
  • Mulberry silk accounts for the majority of the market share in the type segment due to its superior quality, softness, and extensive use in luxury fabrics. 
  • Textile holds the largest share in the silk industry.
  • The increasing demand for sustainable and eco-friendly textiles is a primary driver of the silk market.
  • The expanding use of silk in the cosmetic and personal care industry is propelling the silk market.

 

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Industry Trends and Drivers: 

  • Growing Demand for Sustainable and Eco-friendly Textiles:

The demand for sustainable and eco-friendly textiles is a significant trend shaping the silk market. As consumers become more environmentally conscious, they are seeking materials that have a lower environmental impact, and silk fits well into this shift. Silk is a natural fiber that is biodegradable and requires fewer chemicals during its production compared to synthetic alternatives. Fashion and textile industries are increasingly promoting silk as an eco-friendly alternative, capitalizing on its luxurious feel and sustainable production. This trend is driving the development of “peace silk” or “Ahimsa silk,” a cruelty-free option where the silk fibers are harvested without harming the silkworms. Additionally, brands are adopting more ethical sourcing and processing methods to meet the growing consumer demand for transparency and sustainability. This trend is expected to drive further growth in the silk market, particularly as sustainability continues to become a priority for both consumers and manufacturers.

 

  • Increasing Use of Silk in the Cosmetic and Personal Care Industry:

The use of silk in the cosmetic and personal care industry is expanding rapidly as brands explore innovative applications of silk proteins and fibers. Silk proteins, known for their moisturizing and anti-aging properties, are increasingly being incorporated into skincare products, shampoos, and hair conditioners. The amino acids found in silk help to nourish and hydrate the skin, while also improving elasticity and reducing the appearance of wrinkles. The growing interest in natural and skin-friendly ingredients is fueling the demand for silk-based formulations in the beauty industry. Additionally, silk fibers are being used in luxury face masks and other cosmetic products to enhance the feel and performance of the materials. This trend is pushing the silk market beyond textiles and into high-end cosmetic products, where the demand for natural, high-quality ingredients continues to rise. As more consumers seek beauty products that align with their preferences for natural and effective ingredients, silk’s role in the cosmetics industry is poised to grow.

 

  • Innovation in Silk Blends for Performance Textiles:

Another key trend in the silk market is the innovation in silk blends for performance textiles, combining silk’s natural qualities with synthetic fibers to enhance durability, strength, and functionality. While silk is prized for its softness and luxurious feel, it is also relatively delicate compared to some synthetic materials. By blending silk with synthetic fibers like polyester or nylon, manufacturers are creating fabrics that retain silk’s desirable properties, such as breathability and luster, while improving durability and affordability. These silk blends are gaining popularity in activewear, outdoor gear, and even medical textiles, where performance and comfort are essential. The innovation of silk blends is expanding its applications into new markets that require both high-performance and premium aesthetics. This trend is making silk more accessible and versatile, opening up new opportunities for growth within the silk market as manufacturers continue to push the boundaries of what silk fabrics can achieve.

 

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Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Type:

  • Mulberry Silk
  • Tussar Silk
  • Eri Silk
  • Others

Mulberry silk accounts for the majority of shares due to its high quality, softness, and widespread use in luxury fabrics.

 

Breakup by Application:

  • Textile
  • Cosmetics
  • Medical

Textile exhibits a clear dominance due to the extensive use of silk in clothing, fashion, and home furnishings.

 

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Asia Pacific holds the leading position owing to a large market for silk driven by its long-established silk production industry and significant demand for both raw and finished silk products.

 

Top Silk Market Leaders:

  • AMSilk GmbH
  • Anhui Silk Co. Ltd.
  • Bolt Threads Inc.
  • Eastern Silk Industries Ltd.
  • Kraig Biocraft Laboratories Inc.
  • Libas Textiles Ltd.
  • Ongetta srl
  • Shengkun Silk Manufacturing Co. Ltd.
  • Wensli Group Co. Ltd.

 

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About Us

 

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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