#Global #Silk #Market #Expected #Reach #Billion
Portland, OR, Oct. 18, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global silk market generated $15.6 billion in 2021 and is estimated to hit $34.1 billion by 2031, registering a CAGR of 8.2% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $15.6 billion |
| Market Size in 2031 | $34.1 billion |
| CAGR | 8.2% |
| No. of Pages in Report | 305 |
| Segments covered | Type, End User, and Region |
| Drivers | Increase in demand for silk protein in sectors such as cosmetics and personal care, textile, medical, pharmaceutical, and nutraceuticals |
| Beneficial properties of silk such as excellent strength and luster, affinity for vivid colors and dyes, natural sheen, light weightiness, high absorbency, resilience, and less conductivity | |
| Less investment required for silk production as it does not need complex machines and equipment | |
| Opportunities | Development of novel ideas by the market players |
| Restraints | High cost of silk |
| Inadequate transport infrastructure and storagefacilities | |
| Silk is prone to damage due to excessive sun and water exposure |
Covid-19 scenario-
- The global silk market witnessed a declining growth during the pandemic, owing to accessibility issues due to lack of transportation infrastructures, fluctuating prices of silk raw material, crash in cocoon production, and unavailability of skilled workers. These factors affected the silk demand, cash flow, and reduced the working…
Read on GNW: Global Silk Market Is Expected to Reach $34.1 Billion by
