Global Silkworm Cocoon Market Size (2023 - 2030)

The global silkworm cocoon market size was valued at USD 15.6 billion in 2022 and is anticipated to expand at a CAGR of 7.3% from 2023 - 2030.

Market Overview:

Silk is a fine fibre produced and obtained by silkworms and comprises mainly of two proteins, fibroin and sericin. They have a triangular prism-like structure which provides a shimmery appearance to silk. They are widely used in several clothing such as gowns, wedding dresses, neckties, scarves, sarees, and others along with several household items such as wall draping, wall hangings, pillows, and others. They are used for textiles and used for various industry applications such as in cosmetics and medical industries.

COVID-19 Impact on the Global Silkworm Cocoon Market:

The sudden rise of the COVID-19 pandemic negatively impacted the size of the global silkworm cocoon industry. Owing to fluctuating raw material demand and supply, a crash in cocoon production, and the shortage of skilled workers the pandemic smashed the silk production industries amidst the lockdown period. This hampered the global market growth remarkably.

Market Drivers:

The increasing technological advancements in sericulture is opening up new opportunities:

Private capital investment and spending on R&D of technological advancement have both increased remarkably in recent years. More and more players have emerged globally and are contributing effectively in the sericulture industry providing opportunities for more players in the market to get involved. Therefore, increased competition and constant innovations in the sericulture industry is escalating the global silkworm cocoon market.

The rising demand for silk products globally is boosting the growth of the market:

Silk is widely used in a variety of clothing types, household items, and medical equipment such as sutures. In addition to that, the growing popularity of silk proteins across other industries is due to the presence of dipeptides and tripeptides within them for easy penetration into the bloodstream through the skin layer. This makes it ideal for several cosmetics items. Therefore, these are the major factors responsible for the growth of the global silkworm cocoon market size.

The increasing preference for vegan silk is fostering the market size:

With the increasing animal sentiments among public, people are shifting towards more environmental-friendly and cruelty-free production processes for producing silk, thereby giving rise to profitable opportunities for the global silkworm cocoon market growth.

Market Restraints:

The fluctuating prices of raw silk is anticipated to hinder the market growth:

The silk production process is more labor-intensive rather than complex and mechanical and depends on several factors depending on the manufacturing stages it goes through. Hence resulting the prices of raw silk fluctuate very regularly due to unstable market dynamics, thereby restraining market growth.

SILKWORM COCOON MARKET REPORT COVERAGE:

This research report on the Global Silkworm Cocoon Market has been segmented and sub-segmented based on the Type, Application, Region, and Companies.

Global Silkworm Cocoon Market – By Type.

• Mulberry Silk
• Tussar Silk
• Eri Silk
• Others

Based on type, the global silkworm cocoon market has been segmented into 4 categories – Mulberry Silk, Tussar Silk, Eri Silk, and Others.

The mulberry segment is anticipated to witness the fastest growing CAGR during the analysis years. This is due to mulberry silk being one of the finest qualities of silk. Here the silkworms are nurtured such that mulberry silk becomes nourishing to humans as well. They are one of the softest and highest quality natural silk that nourishes the skin. They also have antibacterial and hypoallergenic properties that can treat various skin conditions. These are the factors that draw the demand for mulberry silk in the market affecting the market size during the outlook period.

Global Silkworm Cocoon Market – By Application.

• Textile
• Cosmetic and Medical

Based on application, the global silkworm cocoon market has been segmented into 2 categories – Textile and Cosmetic and Medical.

The Textile Industry holds the largest revenue share in 2021. It is the leading industry for silk applications due to its features such as lightweight, luxurious, strength, and rich feels. Also, silk has numerous other applications, such as production of surgical sutures, parachutes, comfort clothing, and others, which further fuels the demand for silk globally augmenting the market size.

Global Silkworm Cocoon Market – By Region.

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East and Africa

Based on region, the global silkworm cocoon market has been segmented into 5 major regions – North America, Europe, Asia-Pacific, South America, Middle-East, and Africa.

Asia-Pacific dominates the global silkworm cocoon market and holds the largest share of revenue in 2021. It is anticipated to be the fastest growing region with the highest CAGR over the forecasted years. The market in the region is strictly competitive and the leading key companies are adopting various strategies to gain an edge over the others. Various countries, such as India, China, Thailand, and Uzbekistan are the notable players in the region who are driving the Asia-Pacific silkworm cocoon market.

Global Silkworm Cocoon Market – By Companies.

1. EntoGenetics Inc.
2. Sichuan Nanchong Liuhe Corp.
3. Bolt Threads
4. Spiber Technologies AB
5. China Silk Group Co. Ltd.
6. Zhejiang Jiaxin Silk Corp. Ltd.
7. Shengkun Silk Manufacturing Co. Ltd.
8. Libas Textiles Ltd.
9. Anhui Silk Co. Ltd.
10. AMsilk GmbH

The competition is exceptionally fierce among key players in the market owing to the rise in demand for silk items in the market. It is anticipated to favour the new entrants due to the technological enhancements, and wider usage of silk for cosmetics and others. Further, companies are enlarging their products and portfolio to increase their share in the market. These factors are estimated to help in gaining more lucrative opportunities in the market.