The global silk market is growing by 8.2 per cent a year.

An increase in profitability for farmers engaging in sericulture, i.e., silkworm rearing, is predicted to boost the silk market. Additionally, the initial investment required for silkworm rearing is quite low, which is expected to drive the market forward. Along with this, increasing the profit margin of farmers engaging in silk production is expected to propel the market forward.

A wide use of silk in the manufacturing of different apparel and clothing is predicted to offer numerous growth opportunities for the market. Mulberry silk has a dominant share of the silk market. Mulberry silk, a high quality silk, is widely used in the manufacturing of different apparels. The increasing use of silk by various textile companies to manufacture various garments and clothing products is projected to augment the growth rate of the silk market.

The silk market in the Asia-Pacific region is estimated to be the most profitable. The presence of prominent silk-producing countries like India, China, Thailand etc. is estimated to help the market grow substantially. Following the pandemic outbreak strict lockdowns and travel restrictions were put in place across the world. This negatively impacted several industries and businesses causing disruptions in supply chains and manufacturing processes.

The silk market faced a similar situation where there was a massive shortage of raw materials i.e. raw silk due to the shortage of labor. Additionally, import-export restrictions led to a decline in the sales of manufactured silk garments, which affected the growth of the market.