Silk-Worm Cocoons Market

The global silk-worm cocoons market is projected to see an upward consumption trend over the next eight years, with a forecasted increase in market volume and value by 2030. India is the largest consumer of silk-worm cocoons, while China leads in production. Both exports and imports have been increasing in various countries, with Myanmar emerging as the key exporter. The market is expected to experience growth in the coming years across different regions.

Market Forecast

Driven by rising demand for silk-worm cocoons worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.6% for the period from 2022 to 2030, which is projected to bring the market volume to 500K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $9.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Silk-Worm Cocoons

In 2022, consumption of silk-worm cocoons (reelable) decreased by -4.2% to 439K tons, falling for the seventh consecutive year after four years of growth. Overall, consumption continues to indicate a noticeable shrinkage. Global consumption peaked at 758K tons in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

The global silk-worm cocoons market size was estimated at $7.5B in 2022, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption saw a slight contraction. As a result, consumption reached the peak level of $12.6B. From 2015 to 2022, the growth of the global market remained at a lower figure.

Consumption By Country

India (260K tons) remains the largest silk-worm cocoons consuming country worldwide, comprising approx. 59% of total volume. Moreover, silk-worm cocoons consumption in India exceeded the figures recorded by the second-largest consumer, China (100K tons), threefold. The third position in this ranking was held by Uzbekistan (24K tons), with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume in India totaled +5.4%. The remaining consuming countries recorded the following average annual rates of consumption growth: China (-12.3% per year) and Uzbekistan (-0.3% per year).

In value terms, China ($4B) led the market, alone. The second position in the ranking was held by India ($1.9B). It was followed by Uzbekistan.

In China, the silk-worm cocoons market shrank by an average annual rate of -5.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+6.3% per year) and Uzbekistan (+5.2% per year).

The countries with the highest levels of silk-worm cocoons per capita consumption in 2022 were Romania (734 kg per 1000 persons), Uzbekistan (691 kg per 1000 persons) and India (185 kg per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +7.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Silk-Worm Cocoons

In 2022, production of silk-worm cocoons (reelable) decreased by -4% to 439K tons, falling for the seventh year in a row after four years of growth. Over the period under review, production saw a noticeable slump. The most prominent rate of growth was recorded in 2014 when the production volume increased by 17%. Global production peaked at 758K tons in 2015; however, from 2016 to 2022, production failed to regain momentum. The general negative trend in terms output was largely conditioned by a perceptible downturn of the harvested area and a relatively flat trend pattern in yield figures.

In value terms, silk-worm cocoons production dropped slightly to $8.6B in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the production volume increased by 52% against the previous year. Global production peaked at $13.5B in 2018; however, from 2019 to 2022, production failed to regain momentum.

Production By Country

The country with the largest volume of silk-worm cocoons production was India (260K tons), comprising approx. 59% of total volume. Moreover, silk-worm cocoons production in India exceeded the figures recorded by the second-largest producer, China (100K tons), threefold. Uzbekistan (24K tons) ranked third in terms of total production with a 5.5% share.

In India, silk-worm cocoons production increased at an average annual rate of +5.4% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: China (-12.3% per year) and Uzbekistan (-0.3% per year).

Imports

World Imports of Silk-Worm Cocoons

In 2022, after seven years of growth, there was significant decline in purchases abroad of silk-worm cocoons (reelable), when their volume decreased by -56.2% to 966 tons. Over the period under review, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2013 when imports increased by 94%. Global imports peaked at 2.2K tons in 2021, and then fell rapidly in the following year.

In value terms, silk-worm cocoons imports soared to $15M in 2022. Overall, imports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2013 when imports increased by 105% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, China (576 tons) was the major importer of silk-worm cocoons (reelable), committing 60% of total imports. Vietnam (127 tons) took the second position in the ranking, followed by Iran (102 tons) and Kazakhstan (78 tons). All these countries together took approx. 32% share of total imports.

Imports into China increased at an average annual rate of +34.3% from 2012 to 2022. At the same time, Vietnam (+70.6%), Kazakhstan (+54.8%) and Iran (+7.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in the world, with a CAGR of +70.6% from 2012-2022. China (+49 p.p.), Vietnam (+13 p.p.) and Kazakhstan (+7.8 p.p.) significantly strengthened its position in terms of the global imports, while Iran saw its share reduced by -6.3% from 2012 to 2022, respectively.

In value terms, China ($11M) constitutes the largest market for imported silk-worm cocoons (reelable) worldwide, comprising 70% of global imports. The second position in the ranking was held by Iran ($1.5M), with a 10% share of global imports. It was followed by Vietnam, with a 5.5% share.

In China, silk-worm cocoons imports increased at an average annual rate of +48.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Iran (+13.1% per year) and Vietnam (+60.2% per year).

Import Prices By Country

In 2022, the average silk-worm cocoons import price amounted to $15,954 per ton, picking up by 267% against the previous year. Overall, the import price saw a buoyant increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($18,677 per ton), while Kazakhstan ($5,793 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.1%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Silk-Worm Cocoons

Global silk-worm cocoons exports contracted dramatically to 939 tons in 2022, which is down by -16.1% against the previous year's figure. In general, exports, however, showed a pronounced expansion. The growth pace was the most rapid in 2021 when exports increased by 202%. As a result, the exports reached the peak of 1.1K tons, and then contracted notably in the following year.

In value terms, silk-worm cocoons exports reduced sharply to $7.5M in 2022. Over the period under review, exports, however, saw buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 212% against the previous year. As a result, the exports reached the peak of $9.4M, and then shrank rapidly in the following year.

Exports By Country

In 2022, Myanmar (344 tons) represented the key exporter of silk-worm cocoons (reelable), committing 37% of total exports. Brazil (132 tons) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (14%), Kazakhstan (8.3%), China (6%) and the United States (5.3%). Turkey (26 tons) held a relatively small share of total exports.

Exports from Myanmar increased at an average annual rate of +78.3% from 2012 to 2022. At the same time, Brazil (+191.2%), the United Arab Emirates (+73.7%), Kazakhstan (+34.2%) and China (+7.0%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in the world, with a CAGR of +191.2% from 2012-2022. By contrast, Turkey (-10.7%) and the United States (-16.4%) illustrated a downward trend over the same period. While the share of Myanmar (+37 p.p.), Brazil (+14 p.p.), the United Arab Emirates (+14 p.p.), Kazakhstan (+7.8 p.p.) and China (+1.9 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Turkey (-8.7 p.p.) and the United States (-36.9 p.p.) displayed negative dynamics.

In value terms, Myanmar ($2.7M) emerged as the largest silk-worm cocoons supplier worldwide, comprising 35% of global exports. The second position in the ranking was held by Brazil ($1.2M), with a 17% share of global exports. It was followed by China, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Myanmar totaled +56.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+149.1% per year) and China (+8.7% per year).

Export Prices By Country

The average silk-worm cocoons export price stood at $8,010 per ton in 2022, which is down by -4.8% against the previous year. In general, the export price, however, showed a perceptible expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 79%. Over the period under review, the average export prices attained the peak figure at $14,788 per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was China ($19,963 per ton), while the United States ($1,948 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.7%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform