The global silk market is anticipated to reach a valuation of USD 20.0 billion in 2024, driven by market expansion in non-traditional regions. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 8.4% between 2024 and 2034, and reaching a total valuation of approximately USD 44.6 billion by 2034.
A major factor contributing to the growth of the market is the consumer education and awareness campaigns. Educating consumers about the benefits of silk, its production process, and its cultural significance can help create demand and stimulate market growth. Consumer education and awareness campaigns, including marketing initiatives, social media campaigns, and educational workshops, can foster appreciation for silk products and support sustainable consumption practices.
Request Sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-19009
Implementation of quality standards and certification schemes for silk products can enhance consumer confidence and trust in the authenticity and quality of silk. Certification programs for organic silk, fair trade silk, and sustainable silk production practices can differentiate products in the market and appeal to ethically conscious consumers.
Advancements in sericulture technology, including automated silk rearing systems, precision farming techniques, and genetic improvements in silkworm breeds, can increase productivity, reduce production costs, and improve silk quality. Investments in research and development to enhance sericulture practices can drive innovation and competitiveness in the silk industry.
Key Takeaways from the Market Study
- Global silk market was valued at USD 3 billion in 2023.
- From 2019 to 2023, the market demand expanded at a CAGR of 9.6%.
- The market in Japan is expected to expand at a CAGR of 9.4% through 2034.
- By type, the eri silk segment to account for a CAGR of 8.2% through 2034.
- The absolute dollar growth of the market is projected to reach a value of US$ 24.6 billion during the forecast period.
- The market in the United Kingdom is expected to expand at a CAGR of 9.2% through 2034.
“Silk manufacturers and retailers can leverage omnichannel retailing strategies to reach a wider audience and enhance customer engagement. Integrating online and offline sales channels can create seamless shopping experiences and capture consumer demand across different touchpoints,” remarks an FMI analyst.
Request Customization @ https://www.futuremarketinsights.com/customization-available/rep-gb-19009
Competitive Landscape
Prominent players in the silk market are Bolt Threads, ShengKun Silk Manufacturing Co., Ltd., Sichuan Nanchong Liuhe (Group) Corp, Anhui Silk Co. Ltd, Zhejiang Jiaxin Silk Co., Ltd, Wujiang First Textile Co., Ltd., Wujiang Wanshiyi Silk Co. Ltd., Jiangsu Sutong Cocoon And Silk Co, Amsilk GmbH, and Libas Textiles Ltd., among others.
Key Product Offerings
- Liuhe Corp., as a leading silk producer specializes in the production and distribution of high quality silk products. Their portfolio encompasses a wide range of silk textiles, from luxurious silk fabrics to delicate silk accessories, serving diverse customer segments worldwide.
- Anhui Silk Co. Ltd is recognized for its comprehensive portfolio of silk products, including mulberry silk, silk fabrics, silk garments, and silk home textiles. The company continually explores new techniques and designs to meet evolving consumer preferences, with a focus on sustainability and innovation.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global silk market, providing historical data for 2019 to 2023 and forecast statistics from 2024 to 2034.
To understand opportunities in the silk market, the market is segmented on the basis of type (eri silk, mulberry silk, tussar silk, others), and end user (textile, cosmetics and medical), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, and Middle East & Africa (MEA)).
Buy Now/Purchase @ https://www.futuremarketinsights.com/checkout/19009
About the Consumer Product Team at Future Market Insights
The consumer product team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the market lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
