Silk Market 2021 Industry Analysis, Key Drivers, Business Strategy Forecast
Posted by Jason Roy on March 31st, 2021
Market Overview:
The global Silk market was valued at USD 11.74 billion in 2016 and is projected to reach USD 22.71 billion by 2025, growing at a CAGR of 7.6% from 2017 to 2025.
Asia Pacific is the major region in the silk market. The demand in the region is driven by rising domestic demand coupled with presence of large number of textile processing facilities. The growing textile exports from the region is expected to augment demand for silk over the forecast period.
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Market Dynamics:
1. Market Drivers
1.1 Technological innovation in sericulture
1.2 Low capital involved
2. Market Restraints
2.1 Dependency on China for raw material
2.2 Labor intensive industry
Market Segmentation:
The global Silk market is segmented on the type, application, and region.
1. By Type:
1.1 Spider Silk
1.2 Eri Silk
1.3 Mulberry Silk
1.4 Tussar Silk
2. By Application:
2.1 Textiles
2.2 Medicine and Cosmetics
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Anhui Silk Co. Ltd.
2. Kraig Biocraft Laboratories
3. Wujiang First Textile Co. Ltd.
4. Amsik GmbH
5. WujiangWanshiyi Silk Co. Ltd.
6. Spider Technologies
7. ZheijangJiaxin Silk Co. Ltd.
8. Sichuan NanchongLiuhe Corp.
9. Entogenetics Inc.
10. Shengkun Silk Manufacturing Co. Ltd.
11. China Silk Corporation
12. Jiangsu Sutong Cocoon and Silk Co.
13. Wensli Group Co. Ltd.
14. JinchengjiangXinxing Cocoon Silk Co. Ltd.
15. Bolt Threads Inc.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Silkmarketwas performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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