Sericulture Market - 2023-2030

Overview

Global Sericulture Market reached US$ 251.2 billion in 2022 and is expected to reach US$ 468.4 billion by 2030, growing with a CAGR of 8.1% during the forecast period 2023-2030.

The sericulture market has seen a diversification of silk products beyond traditional textiles. Innovations in sericulture have led to the development of silk-based materials for various applications, including cosmetics, medical devices, and industrial products. Hence, the diversification of silk products act as a key trend for sericulture market growth.

Many governments provide significant support and incentives to the sericulture industry. This support can include subsidies, research funding, infrastructure development, and promotion of silk exports. For instance, In April 2020, in India, the Jammu and Kashmir administration announced to launch significant mulberry plantation in the Kishtwar region to help it reach its goal of producing 6,000 kilograms of cocoon that year.

Textile products represent a significant 1/3rd share of the sericulture market, underscoring their dominance in the industry. Additionally, the Asia-Pacific region commands an equally substantial 1/3rd market share, highlighting its pivotal role in global sericulture. 90% of the world's exports of raw silk come from China, which produces 74% of the world's total output. This higher silk production in Asia Pacific is driving the sericulture market growth.

Dynamics

Increasing Demand for Silk Products

There is a growing preference among consumers for natural and sustainable fibers due to concerns about the environment and health. Silk is a natural fiber derived from the cocoons of silkworms, and it aligns well with this consumer preference henece driving its demand worldwide. The average annual production of silk around the world is 80,000 tonnes. Hence,

the increasing demand for silk products is a significant driver of market growth for sericulture, primarily because it creates a strong market pull for silk production.

Growing demand for silk products, such as clothing, textiles, and accessories, fuels market expansion. As more consumers seek silk items, the sericulture industry responds by increasing silk production. To meet the rising demand, sericulture farms and producers increase their silkworm rearing and silk production efforts. This leads to greater production volume within the sericulture market.

Government Support and Policies

Government support and policies can have a significant impact on driving the growth of the sericulture market by providing the necessary infrastructure, financial incentives, and regulatory frameworks that encourage sericulture activities. In March 2023, in India, the state's agriculture minister, Uttarakhand, announced that the state launched the country's first "Resham Keet Bima" program to protect its sericulturists.

Governments often offer subsidies, grants, and financial incentives to sericulture farmers and producers. These incentives can help reduce the initial investment costs, making it more attractive for individuals and businesses to enter the sericulture sector. Government agencies often provide extension services and technical assistance to sericulture practitioners. These services can include training, knowledge dissemination, and guidance on best practices, helping sericulture farmers improve their skills and productivity.

Labor Intensive Industry

Sericulture requires significant manual labor, particularly during the various stages of silkworm rearing, cocoon harvesting, and silk processing. High labor costs can eat into profit margins, making it challenging for sericulture businesses to remain competitive, especially in regions with rising labor costs. Hence, the labor-intensive nature of the sericulture industry can act as a restraining factor on its growth.

Segment Analysis

The global Sericulture market is segmented based on type, operation process, application and region.

Ring Demand for Silk Fabrics

Textile has the highest share in the sericulture market primarily because silk, a natural protein fiber produced by silkworms, is a key raw material for the textile industry. The silk produced through sericulture is highly valued in the textile sector for its unique qualities, including its soft texture, sheen, and luster. According to The Observatory of Economic Complexity, With $825M in total trade in 2021, silk fabrics ranked as the 971st most traded product globally.

Exports of silk fabrics increased by 18.2% between 2020 and 2021, from $698 million to $825 million. Silk textile commerce makes up 0.0039% of all global trade. The majority of silk produced through sericulture is used to create silk fabric. Silk textiles are known for their luxurious feel and appearance, making them a preferred choice for high-end clothing, lingerie, eveningwear, and other fashion products. The demand for silk fabrics drives sericulture production.

Geographical Penetration

Asia Pacific's Rising Silk Production

Asia Pacific accounts for the majority of global silk production. China and India, in particular, are the world's largest silk producers. These countries have vast sericulture farms and processing units that supply silk to both domestic and international markets. For instance, According to International Sericulture Commission, in China the total amount of silk production was 46,700 metric tons in 2021.

Sericulture has a long tradition in Asia, with China, India, Japan, and Thailand serving as historical hubs of silk production, boasting centuries of expertise. According to India Brand Equity Foundation, an initiative of the Ministry of Commerce and Industry, India is the world's second-largest producer of silk. Around 9.76 million people are employed by the nation's sericulture sector in rural and semi-urban areas.

The Asia Pacific's climate supports sericulture including mulberry tree cultivation It houses populous nations like China and India, creating a substantial market for silk goods, boosting domestic consumption and exports. Consequently, Asia Pacific dominates the global sericulture market. Its historical tradition and technological advanSericultures further strengthen its position, ensuring continued growth and influence in the silk industry.

COVID-19 Impact Analysis

The outbreak of the During the early stages of the pandemic, lockdowns and restrictions disrupted supply chains, affecting the availability of inputs for sericulture, such as mulberry leaves and silkworm eggs. This disruption temporarily slowed down production. Lockdowns and travel restrictions led to labor shortages in many regions, as sericulture requires manual labor for tasks like silkworm rearing and cocoon harvesting.

Due to labor shortages and restrictions, some farmers experienced delays in harvesting silkworm cocoons, which impacted the timing and quantity of silk production. International trade was affected as well, with disruptions in shipping and logistics. This led to challenges in exporting silk products to global markets, affecting the sericulture industry's international reach.

Russia-Ukraine War Impact Analysis

The war-induced economic instability globally has introduced uncertainties into consumer spending habits, potentially impacting luxury goods like silk products. Disruptions in international trade routes and logistics networks stemming from the conflict pose risks to the sericulture industry's supply chain. These disruptions can affect the availability of crucial inputs for silk production and hinder the export of silk-related products.

Despite not being directly involved in the conflict, the sericulture sector is vulnerable to global disruptions caused by geopolitical events. This highlights the the interdependence of markets and the need to closely monitor how geopolitical factors indirectly influence various sectors. Sericulture businesses may have to adjust to shifting trade dynamics and evolving consumer preferences in response to these uncertainties.

By Type

• Mulberry Silk
• Vanya Silk
• Eri Silk
• Others

By Production Process

• Cocoon Production
• Reeling
• Throwing
• Weaving
• Dyeing

By Application

• Textile
• Cosmetics and Medical

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On September 4 the Indian Technical and Economic Cooperation, Central Sericulture Research and Training Institute (CSRTI) organized four weeklong international training programs in sericulture and silk industry. 30 trainees from various countries including Cameroon, Ethiopia, Ghana, Iran, Kenya, Myanmar, Nigeria, the Philippines, Uganda, Bangladesh, Vietnam, Zimbabwe, and Thailand will attend the program.
• In March 2023, the Agriculture Insurance Company of India (AIC) announced that it has got IRDAI licence, and will provide products for the sericulture, aquaculture, and cattle sectors.
• In April 2021, in India, Government of Manipur introduced NIC developed website for Dept. of Sericulture.

Competitive Landscape

The major global players in the market include Anhui Silk, Zhejiang Jiaxin Silk Co., Ltd., Shengkun Silk Manufacturing Co., Ltd, WENSLI, China Silk International Trading (Shanghai) Co., Ltd., Bolt Threads, Spiber Technologies, Amsilk GmbH, Kraig Biocraft Laboratories Inc., Bang Textiles and Maajisa Group

Why Purchase the Report?

• To visualize the global sericulture market segmentation based on type, production process, application and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of sericulture market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global sericulture market report would provide approximately 61 tables, 60 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies