LONDON--(BUSINESS WIRE)--The global silk market is one of the world’s most lucrative businesses; having witnessed strong and steady growth over the recent years, thanks to the growing global demand for textile and apparel products made by luxury fibre.
In a recent article titled Global Silk Market Sets to Expand Further, BizVibe looks at the projected growth rate of the global silk market.
BizVibe notes that the global silk market is expected to reach USD 16.94 Billion by 2021, growing at a CAGR of 7.8% from 2016 to 2021. While Europe and North America continue to lead the global silk market in terms of sales, emerging markets in Asia-Pacific like China, India and Vietnam are posing some of the fastest growth rates, due to increasing demand, coupled with technological advancements for enhancing silk yield.
When it comes to silk type, mulberry silk is expected to remain the largest silk type segment in the market by 2021, followed by Tussar silk. Mulberry silk is currently widely used the most in the booming textile and apparel industry. The improving quality of silk is expected to increase the demand for mulberry silk and drive the silk market going forward.
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