According to Technavio’s report “Global Silk Market 2020–2024,” the silk market is poised to grow by USD 6.87 billion, progressing at a CAGR of almost 9% during the forecast period. The new report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Bolt Threads Inc., Eastern Silk Industries Ltd., Kraig Biocraft Laboratories Inc., and Shengkun Silk Manufacturing Co. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, others will continue to remain unscathed and show promising growth opportunities.
For the full report, visit www.technavio.com.