The global silk market is projected to grow at a CAGR of 7.6 per cent from 2017 to 2025. Growth can be attributed to technological advancements in sericulture, which directly increases silk yield. Moreover silk is a low capital investment industry in terms of technology and labor.
Though demand for silk products is growing in Europe and North America, the Asia-Pacific region is the largest market for silk. It has a large number of textile manufacturers and growing demand from the domestic market. China dominates the silk market in the Asia-Pacific region followed by India. Raw silk is easily available in the two countries. China is the largest producer of silk yarn and textile products. The Asia-Pacific region remains the fastest growing market for silk in terms of value and volume.
Based on type, mulberry silk segment is projected to lead the market. Owing to its high strength, durability, and flexibility, mulberry silk is used in the production of textiles such as apparel, wedding dresses, gowns etc as well as in interiors such as pillows, wall hangings, and upholstery. The growing textile industry in the Asia-Pacific region is driving the demand for mulberry silk in the region.