Silk Yarn Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 40.59 Billion |
| Market Size (2029) | USD 47.08 Billion |
| CAGR (2024 - 2029) | 3.01 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Silk Yarn Market Analysis
The Silk Yarn Market size is estimated at USD 40.59 billion in 2024, and is expected to reach USD 47.08 billion by 2029, growing at a CAGR of 3.01% during the forecast period (2024-2029).
- The industrialization of the silk industry coupled with various government schemes will boost the production of raw silk in the Asia-pacific region which in turn increase the production of silk yarn making the region to be the largest market during the forecast period.
- Caribbean countries such as Cuba and African Countries including Kenya are making an effort to boost their silk yarn production.The Government of Rwanda as well as has begun investing in the development of silk value chains, with the rising demand from Asia, the production of high-quality silk products offers strong export opportunities. To tap into growing global markets, Rwanda's National Agricultural Export Development Board (NAEB) has also partnered with HEWorks, a Korean silk manufacturer.
- The sector is a major provider to foreign exchange reserves in nations such as India which is why the government supports with various initiatives to boost the industry. In India, sericulture operations are distributed throughout 52,360 villages. The country uses raw materials to manufacture silk garments, made-ups, textiles, yarns, carpets, shawls, scarves, pillow coverings, and accessories.
- Countries such as India, China, the United States of America, Italy, France, Switzerland, Japan, Vietnam, the United Arab Emirates, the United Kingdom, Germany, and Korea are some of the major consumers of silk and silk products. The industrialization of the silk industry coupled with various government schemes will boost the production of raw silk in the Asia-pacific region which in turn increases the production of silk yarn, making the region to be the largest market during the forecast period.
Silk Yarn Market Trends
Italy is Emerging as Major Producer of Silk Yarn in Europe
Italy is one of the major producers of silk yarn in the European region, as hundreds of farms have started rearing silkworms in the past few years. Silk production using silk worms grown in Italy has been on the rise in recent years. Comapnies such as ONGETTA SRL is specialized in the silk throwsting and produces GOTS certified organic silk that is branded ONGETTA BIO SILK. It was the first spinning and twisting mill of GOTS certified silk yarns in Europe.
The decrease in exports of silk yarn from China is likely to give more access to the Italian silk yarn producers to the global market. Further, the price of Chinese silk has been climbing, far surpassing the price of silk threads produced in Italy from Italian-grown silkworms. This would further boost domestically produced silk yarn.
However, the production and export of silk yarn from Italy are minuscule when compared to Chinese production and export of silk yarn. In 2021, Italy exported silk yarn which valued at USD 18,214 thousand worldwide, which have increased by 8% as compared to 2020 and the major destinations were France, Romania, United Kingdom, Austria, and Germany.
Asia Pacific Dominates the Market
China is worlds largest producer and export silk and silk products including silk yarns. However, the rising costs of mulberry cultivation are forcing many farmers to exit sericulture.Silk is mainly produced in the south of the Yangtze River Delta. Renowned silk producing regions are Jiangsu, Zhejiang and Sichuan provinces. Cities such as Suzhou, Hangzhou, Nanjing, and Shaoxing are well known for their silk industries.
Uzbekistan is another prominent producer of silk. The silk products of the country are highly valued in the global market. In the nation, the organisation "UZBEKIPAKSANOAT" was founded recently. The organisation is working hard to improve silkworm cocoon production, as well as silk fabric processing and manufacturing. Collaboration with local and worldwide manufacturers is underway, and self-employed silk producers are encouraged and supported. After China and India, Uzbekistan is the world's third largest producer of silk.
India has implemented a scheme called Silk Samagra through its Central Silk Board (CSB) to enhance the quality and productivity of domestic silk to reduce the country's import of raw silk. In order to promote tussar silk cultivation in Odisha, the Khadi and Village Industries Commission (KVIC) in has recently established the State's first silk yarn production centre at Choudwar in the district .The industrialisation of the silk industry coupled with various government schemes will boost the production of raw silk in the Asia-pacific region which in turn increase the production of silk yarn making the region to be the largest market during the forecast period.
Silk Yarn Market News
- January 2023: The State Government of Jammu and Kashmir state of India approved a grant of USD 11 Million for revival of silk industry. The roject contains end-to-end interventions, right from availability of mulberry leaves to better seed and worm production and finally augmentation of reeling facilities, is expcted to double the number of cocoons produced in the state.
- October 2022: The State Government of Tamil Nadu state of India stated it's plans to launch a silk park in the state inorder to boost the market and bring various silk weavers and market players together. For the same, the state government alloted 10 hectares of land to begin the construction which is expcted to complete by the year 2023.
- October 2021: The Union Cabinet of India approved the 'Silk Samagra-2' which is the improved version of the earlier Silk Samagra Scheme at a total outlay of USD 570 Million for implementation during 2021-22 to 2025- 26. The Scheme is meant for Research & Development, Training, Transfer of Technology and IT, Coordination and Market Development, Quality Certification Systems, Export, Brand Promotion & Technology up-gradation of the Silk Indsutry in India.
Silk Yarn Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions & Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Value Chain Analysis
5. MARKET SEGMENTATION
-
5.1 Geography (Production Analysis, Consumption Analysis by Value & Volume, Import Analysis by Value & Volume, Export Analysis by Value & Volume and Price Trend Analysis)
- 5.1.1 United States
- 5.1.2 China
- 5.1.3 India
- 5.1.4 Thailand
- 5.1.5 Germany
- 5.1.6 Italy
- 5.1.7 United Kingdom
- 5.1.8 Brazil
- 5.1.9 Tunisia
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySilk Yarn Industry Segmentation
Silk yarn is widely used in the textile industry to produce clothing such as socks, neckties, and dresses. They are also used in manufacturing home decor fabrics such as flowering curtains, comforters, and so on. The Global Silk Yarn Market is Segmented by Geography (United States, China, India, Thailand, Germany, Italy, United Kingdom, Brazil, and Tunisia). The Market includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The report offers market estimation and forecast in value (USD thousand) and volume(metric ton).
| Geography (Production Analysis, Consumption Analysis by Value & Volume, Import Analysis by Value & Volume, Export Analysis by Value & Volume and Price Trend Analysis) | United States |
| China | |
| India | |
| Thailand | |
| Germany | |
| Italy | |
| United Kingdom | |
| Brazil | |
| Tunisia |
Silk Yarn Market Research FAQs
How big is the Silk Yarn Market?
The Silk Yarn Market size is expected to reach USD 40.59 billion in 2024 and grow at a CAGR of 3.01% to reach USD 47.08 billion by 2029.
What is the current Silk Yarn Market size?
In 2024, the Silk Yarn Market size is expected to reach USD 40.59 billion.
What years does this Silk Yarn Market cover, and what was the market size in 2023?
In 2023, the Silk Yarn Market size was estimated at USD 39.40 billion. The report covers the Silk Yarn Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Silk Yarn Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Silk Yarn Industry Report
Statistics for the 2024 Silk Yarn market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Silk Yarn analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
