Silk Market Size to Reach USD 32.59 Billion by 2030, Driven by Rising Demand for Luxury Textiles and Sustainable Fashion

The Silk Market Size is projected to grow from USD 19.51 billion in 2023 to approximately USD 32.59 billion by 2030, registering a compound annual growth rate (CAGR) of 7.6% during the forecast period. This growth is fueled by increasing demand for high-quality, natural fabrics in the fashion and textile industries, as well as expanding applications of silk in cosmetics, pharmaceuticals, and medical sectors.



Drivers & Opportunities for Market Growth

The silk market is experiencing steady growth due to rising consumer preference for luxury textiles, sustainable fashion trends, and increasing disposable incomes. As eco-conscious consumers seek biodegradable and renewable fabric options, silk is gaining traction as a premium alternative to synthetic textiles. Additionally, advancements in silk production, including genetically modified silkworms and artificial silk manufacturing, are further expanding market potential. The medical and cosmetic industries are also driving demand for silk-based biomaterials, which are used in wound healing, surgical sutures, and skincare formulations.

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Segmentation Analysis

The silk market is segmented based on type, application, and end-user industry.

by Type: The market comprises mulberry silk, tussar silk, eri silk, and muga silk. Mulberry silk dominates the market due to its superior quality, softness, and widespread use in luxury clothing and home furnishings. Tussar silk, known for its rich texture, is gaining popularity in ethnic and traditional wear, while eri and muga silk are valued for their eco-friendly production and durability.

by Application: Silk is primarily used in textiles, including fashion apparel, scarves, sarees, and home décor products such as curtains and upholstery. Beyond textiles, silk finds applications in cosmetics, personal care, and medical products. Its hypoallergenic and moisture-retentive properties make it an ideal ingredient in skincare and haircare products, while biomedical applications such as silk-based sutures and tissue engineering are expanding its use in the healthcare sector.

based on End-User Industry: The fashion and apparel industry is the largest consumer of silk, driven by the demand for high-end clothing, bridal wear, and designer collections. The medical and personal care sectors are witnessing increasing adoption of silk-based products, especially in the development of advanced skincare formulations and medical-grade silk sutures.

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Country-Level Analysis

China: As the world's largest producer and exporter of silk, China dominates the market, supplying high-quality mulberry silk to global textile industries. Government initiatives to modernize sericulture and enhance silk production efficiency are further strengthening China's market position.

India: India is a key player in the silk industry, particularly in traditional silk textiles such as sarees and ethnic wear. With government support for silk farming under initiatives like the Silk Samagra Scheme, India's silk production is expanding to meet domestic and international demand.

Italy: Italy is a major hub for luxury silk fashion, with renowned designers and textile manufacturers driving demand for high-quality silk fabrics. The country’s expertise in silk processing and innovation continues to attract global consumers.

United States: The U.S. market for silk is growing, fueled by increasing demand for luxury fashion, home décor, and silk-based skincare products. Sustainability concerns are also encouraging American brands to explore ethical silk sourcing and production.

France: France remains a key market for high-end silk products, particularly in luxury fashion and haute couture. With leading brands emphasizing sustainability, the demand for organic and ethically sourced silk is on the rise.

Competitor Analysis

The global silk market is highly competitive, with key players focusing on innovation, sustainability, and expanding product applications. Major companies in the market include:

Anhui Silk Co., Ltd.: A leading silk manufacturer in China, specializing in high-quality mulberry silk fabrics and yarns.

Kraig Biocraft Laboratories, Inc.: A pioneer in biotechnology-driven silk production, focusing on genetically engineered spider silk for advanced applications.

Bolt Threads: A U.S.-based company developing lab-grown silk and biofabricated textiles for sustainable fashion.

AMSilk GmbH: A German company producing bioengineered silk proteins for textile, medical, and cosmetic industries.

Jiangsu Sutong Cocoon & Silk Co., Ltd.: A key player in China’s silk industry, offering a diverse range of silk products for fashion and home textiles.

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Conclusion

The global silk market is poised for steady growth, driven by rising consumer demand for luxury and sustainable textiles, expanding applications in the healthcare and personal care industries, and ongoing innovations in silk production. As industries increasingly prioritize eco-friendly materials, silk is expected to play a crucial role in shaping the future of sustainable fashion and advanced biomaterials.

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