Pune, India -- (SBWIRE) -- 02/09/2018 -- The Global Silk Market accounted for USD 11.66 billion in 2016 and is projected to grow at a CAGR of 7.4% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Market Definition: Global Silk Market

Silk is composed of both natural as well animal fiber. It comes from the fibroin which is created from proteins release in the liquid state as a single filament through silkworm. It is characterized by natural sheen, light weight, high absorbent quality, and poor heat conduction. Silk can be used in textile, cosmetics and medicine. Growing demand for eco-friendly textile materials is one of the major drivers of this market.

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Major Market Drivers:

- Rising demand from Indian textile industry
- More of technological innovation in sericulture
- Low capital investment required

Restraints:

- Dependency for raw material on China

Market Segmentation: Global Silk Market

On the basis of type, global silk market is segmented into mulberry, tussar, spider and eri.

On the basis of application, global silk market is segmented into textile and cosmetics & medicine.

On the basis of geography, global silk market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.

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Competitive Analysis: Global Silk Market

The global silk market is consolidated due to the presence of limited number of players concentrated in few countries. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

Major Market Competitors: Global Silk Market

Some of the major players operating in silk market are Wujiang First Textile Co., Ltd., Anhui Silk, Shengkun Silk Manufacturing Co., Ltd., Zhejiang Jiaxin Silk Co., Ltd., AM Silk GmbH, China Silk Corporation, Jinchengjiang Xinxing Cocoon Silk Co., Ltd., Bolt Threads Inc., Kraig Biocraft Laboratories, Inc., Entogenetics Inc., Wensli Group Co. Ltd., Sichuan Nanchong Liuhe (Group) Corp. among others.

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