Project Report For Sericulture
Project report for Sericulture is as follows.
Somewhere at end of 2021, the size and value of the Silk Market was closer to USD 21.45 billion in sales, and it is expected to grow at a current CAGR of approximately 9.5 percent to USD 28.71 billion by 2026.
Because it does not need complicated machinery or devices, the silk industry has a minimal budget. When compared to investment-focused sectors, it has a higher labour concentration. These elements contribute to the industry’s growth. High demand from the textile, cosmetic, and medicinal industries pave the path for silk industry growth.
However, the silk industry is primarily hampered by the high cost of raw silk. Mostly during forecasted period, the global silk industry is expected to be driven by rising demand in Europe paired with rising demand for textile items. The absorbency of silk renders it quite pleasant to wear, especially in hot weather. Its lower conductivity allows hot air to stay near to the skin in cold conditions. Silk’s use in shirts, formal events, high-fashion apparel, pyjamas, robes, suits, and sundresses has increased as a result of this. Silk is a common protein fibre consisting primarily of fibroin that is generated by certain insect larvae in the shape of cocoons.
Market potential & Strategy
Sericulture is the practise of raising silkworms for the purpose of producing silk. India is the 2nd biggest producer of raw silk as well as the biggest buyer of raw silk and silk textiles in the planet.
In India, the silk business is fueled both by exports and high local consumption. Silk fabrics are widely used in the home market for festivities, religious festivals, weddings, festivals, and other events. Silk is utilised as a raw resources for both clothing like suits and sarees, and also home furnishings like curtains, bed sheets, and pillow coverings.
While silk is now seen as a luxury product in India, with a cost that is substantially greater than other textiles, we predict a growth in the usage of silk fabrics in the nation as disposable incomes continue to rise. The market is expected to develop moderately between 2020 and 2025.
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