Silk Market Current Study Including Growth Factors, Size, Regional Outlook, Competitive Strategies and Forecasts

The textile industry has the need to produce fabrics according to the changing consumer preferences. Publisher’s market research report has identified the changing fashion trends and the increasing purchasing power of individual in the emerging countries as one of the primary factors that will fuel the growth of the silk market in the coming years. Silk is preferred over other fabrics mainly due to its lightweight and comfort. Owing to factors including the increase in urbanization and the rise in disposable income, the purchasing power of the middle class has increased in the recent years. This will in turn, drive the growth of the silk market. Moreover, the growing women employment rate that has led to an increase in the purchasing power of women also fuels the growth of the silk market. Our market research analysts estimate that this market will grow steadily at a CAGR of more than 7% by 2021.

The increasing R&D investments in spider silk will be one of the key trends that will gain traction it the silk market during the next few years. Spider silk exhibit superior properties in terms of strength, resilience and flexibility. Owing to the lightness, thinness, increased flexibility, and toughness of spider silk, it is well-suited to manufacture life-saving ballistics-resistant materials. Kraig Biocraft Laboratories has already developed a new technology and has acquired the exclusive right to use the patented genetic sequences to develop numerous fundamental silk proteins.

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Competitive landscape and key vendors

The silk market is fragmented due to the presence of several large and small vendors. The well-established vendors dominate the silk fabric market and implement several business strategies such as new product development, expansions, and M&As. The major vendors compete on the basis of factors such as operational costs, pricing strategies, economies of scale, product quality, and innovation and can endure changes in market condition better than their competitors due to their technological expertise, financial resources, and established distribution channels.

The leading vendors in the market are-

AMSilk

Anhui Silk

Kraig Biocraft Laboratories

Shengkun Silk Manufacturing

Wujiang First Textile

The other prominent vendors in the market are Bolt Threads, Camenzind, China Silk Corporation, Eastern Silk Industries, EntoGenetics, Jinchengjiang Xinxing Cocoon Silk, Sichuan Nanchong Liuhe, Spiber Technologies, Wensli Group, Wujiang Wanshiyi Silk, and Z&Z Digital Textile.

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