Silk Market 2020 With COVID-19 Impact Analysis, Business Opportunities and Future Outlook 2027

Silk is a natural protein fiber mainly composed of fibroin and is produced by certain insect larvae to form cocoons. The method of production of silk by cultivating the silkworms is known as sericulture. Silk is mainly produced by the larvae of insects undergoing complete metamorphosis, but some insects such as web spinners and raspy crickets produce silk throughout their lives. The shimmering appearance of silk is due to the triangular prism-like structure of the silk fiber, which allows silk cloth to refract incoming light at different angles, thus producing different colors. Apart from textile industry, silk also finds application in medical and cosmetics.

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The silk market requires less investment as it does not need complicated machines and equipment for its production. It is more labor intensive as compared to the investment intensive industries. These factors fuel the growth of the market. High demand from textile, cosmetic, and medical industry make way for development opportunities in the silk market. However, the high cost of the raw silk majorly restrains the silk market.

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The silk market is segmented on the basis of silk type, application, and geography. By silk type, it is classified into mulberry, tussar, and eri silk. By application, it is categorized into textile, cosmetics, and medical. By geography, the silk market is analyzed across North America (U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

The key players in the silk market include Anhui Silk Co. Ltd. (China), Wujiang First Textile Co., Ltd. (China), Zhejiang Jiaxin Silk Co., Ltd. (China), Sichuan Nanchong Liuhe (Group) Corp. (China), ShengKun Silk Manufacturing Co., Ltd. (China), Jiangsu Sutong Cocoon & Silk Co. (China), Wensli Group Co. Ltd. (China), China Silk Corporation (China), Wujiang Wanshiyi Silk Co. Ltd. (China), and Jinchengjiang Xinxing Cocoon Silk Co., Ltd. (China).

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