The Asia Pacific Silk Market would witness market growth of 8.3% CAGR during the forecast period (2022-2028).
A species of silkworm called Pacypasa atus, which is native to parts of Turkey, Greece, and Italy, produces coan silk. Coan silk is used mostly to strengthen other types of silk fibers. Famously, coan silk was widely employed in Ancient Rome to make garments and hair accessories. Oak, pine, and juniper trees provide food for these silkworms.
Silk is breathable and wearable in warm weather especially while exercising. In cold conditions, its limited conduction keeps warm air near the skin. Shirts, ties, formal dresses, blouses, high-fashion clothing, lining, lingerie, pajamas, robes, dress suits, summer dresses, and Eastern ethnic garments are just a few examples of the clothing items that frequently employ it.
For practical purposes, silk is good as clothing that offers protection from various biting insects, including horseflies and mosquitoes, which would typically puncture clothing. Silk is a suitable material for various types of furniture because of its exquisite sheen and drape. It is used for wall coverings, window treatments, rugs, beds, upholstery, and wall hangings. Silk has been used in a wide variety of commercial and industrial applications, including parachutes, bicycle tires, comforter filling, and sacks for artillery gunpowder.
A state action plan calls on China to develop a more successful mulberry silk business by 2025. According to a five-year plan released by the Ministry of Industry and Information Technology and five additional central government ministries, China will increase mulberry production, silkworm breeding, and silk production while making it intelligent. Such factors have propelled the textile industry in this region which in turn profits the silk market.
The China market dominated the Asia Pacific Silk Market by Country in 2021; thereby, achieving a market value of $3.4 billion by 2028. The Japan market is poised to grow at a CAGR of 7.5% during (2022 - 2028). Additionally, The India market would experience a CAGR of 8.9% during (2022 - 2028).
Based on End User, the market is segmented into Textile and Cosmetics & Medical. Based on Type, the market is segmented into Mulberry Silk, Eri Silk, Tussar Silk, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Silk Market is Projected to reach USD 25.4 Billion by 2028, at a CAGR of 8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include AMSilk GmbH, Bolt Threads, Anhui Silk Co. Ltd., Wujiang First Textile Co., Ltd., Zhejiang Jiaxin Silk Co., Ltd., Shengkun Silk Manufacturing Co., Ltd., Wujiang Wanshiyi Silk Co. Ltd. and Libas Textiles Ltd. (Fresh Group of Companies).
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