Silk Shawl And Scarf Market

The article provides a detailed analysis of the global silk shawl and scarf market from 2022 to 2030. It discusses the expected increase in consumption and market volume, with a forecasted CAGR of +5.1% and 90M units by 2030. The market value is also projected to rise to $1.2B by the end of 2030. The article highlights trends in consumption, production, imports, and exports, with key insights on countries with the highest volumes of consumption, production, and per capita consumption. It also examines fluctuations in market value, import and export prices, and the performance of major exporting and importing countries over the years.

Market Forecast

Driven by rising demand for silk shawl and scarf worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +5.1% for the period from 2022 to 2030, which is projected to bring the market volume to 90M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.3% for the period from 2022 to 2030, which is projected to bring the market value to $1.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Silk Shawls And Scarves

In 2022, global silk shawl and scarf consumption contracted to 60M units, dropping by -6.7% against the previous year's figure. Over the period under review, consumption recorded a slight slump. The most prominent rate of growth was recorded in 2018 when the consumption volume increased by 7.6%. Global consumption peaked at 69M units in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

The global silk shawl and scarf market value reduced sharply to $884M in 2022, dropping by -16.2% 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). In general, consumption faced a deep reduction. Global consumption peaked at $2.7B in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were India (21M units), China (18M units) and the United States (3.1M units), with a combined 70% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by China (with a CAGR of +6.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, India ($133M) led the market, alone. The second position in the ranking was held by China ($65M). It was followed by the United States.

In India, the silk shawl and scarf market expanded at an average annual rate of +3.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (+4.2% per year) and the United States (-2.0% per year).

The countries with the highest levels of silk shawl and scarf per capita consumption in 2022 were France (31 units per million persons), Canada (27 units per million persons) and Italy (20 units per million persons).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +5.5%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Silk Shawls And Scarves

In 2022, production of silk shawls and scarves decreased by -0.1% to 67M units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 2.1% against the previous year. As a result, production attained the peak volume of 73M units. From 2014 to 2022, global production growth failed to regain momentum.

In value terms, silk shawl and scarf production fell to $475M in 2022 estimated in export price. In general, production continues to indicate a deep reduction. The growth pace was the most rapid in 2021 with an increase of 14%. Over the period under review, global production hit record highs at $2.1B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (34M units), India (27M units) and Italy (2.2M units), with a combined 94% share of global production.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the main producing countries, was attained by India (with a CAGR of +1.1%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Silk Shawls And Scarves

Global silk shawl and scarf imports rose significantly to 28M units in 2022, with an increase of 9.1% against the previous year's figure. In general, imports, however, recorded a noticeable shrinkage. Global imports peaked at 46M units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, silk shawl and scarf imports rose slightly to $704M in 2022. Over the period under review, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 34%. Global imports peaked at $781M in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports By Country

In 2022, the United States (4.8M units) and France (4.3M units) were the major importers of silk shawls and scarvesin the world, together reaching near 32% of total imports. Italy (2.6M units) took a 9.4% share (based on physical terms) of total imports, which put it in second place, followed by the UK (5.1%). The following importers - Japan (1,260K units), Canada (1,065K units), Germany (1,048K units), Spain (1,020K units), Switzerland (827K units), South Korea (697K units), China (693K units), Singapore (675K units) and Nepal (660K units) - together made up 28% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nepal (with a CAGR of +65.5%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest silk shawl and scarf importing markets worldwide were the United States ($96M), China ($89M) and France ($77M), together comprising 37% of global imports. Italy, South Korea, Japan, the UK, Germany, Singapore, Switzerland, Canada, Spain and Nepal lagged somewhat behind, together comprising a further 35%.

In terms of the main importing countries, Nepal, with a CAGR of +45.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average silk shawl and scarf import price amounted to $25 per unit, waning by -5.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.9%. The most prominent rate of growth was recorded in 2021 an increase of 28% against the previous year. As a result, import price reached the peak level of $27 per unit, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($128 per unit), while Nepal ($1.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+15.3%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Silk Shawls And Scarves

In 2022, the amount of silk shawls and scarves exported worldwide surged to 35M units, growing by 23% against the previous year. Over the period under review, exports, however, saw a noticeable contraction. The global exports peaked at 51M units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, silk shawl and scarf exports skyrocketed to $711M in 2022. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 24% against the previous year. Over the period under review, the global exports attained the peak figure at $714M in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports By Country

In 2022, China (17M units) represented the main exporter of silk shawls and scarves, making up 48% of total exports. India (6M units) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Italy (10%), France (6.4%) and the United States (4.9%). The following exporters - Tunisia (1,237K units) and Turkey (555K units) - together made up 5.1% of total exports.

From 2012 to 2022, average annual rates of growth with regard to silk shawl and scarf exports from China stood at -3.0%. At the same time, Turkey (+12.7%), Tunisia (+4.2%) and France (+3.4%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing exporter exported in the world, with a CAGR of +12.7% from 2012-2022. By contrast, the United States (-3.2%), Italy (-3.5%) and India (-5.2%) illustrated a downward trend over the same period. France (+3.2 p.p.), China (+1.9 p.p.) and Tunisia (+1.9 p.p.) significantly strengthened its position in terms of the global exports, while India saw its share reduced by -3.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($322M) remains the largest silk shawl and scarf supplier worldwide, comprising 45% of global exports. The second position in the ranking was taken by Italy ($159M), with a 22% share of global exports. It was followed by China, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value in France amounted to +7.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Italy (-0.5% per year) and China (-5.3% per year).

Export Prices By Country

The average silk shawl and scarf export price stood at $20 per unit in 2022, remaining stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.5%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 22%. As a result, the export price attained the peak level of $21 per unit. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was France ($144 per unit), while the United States ($3.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+3.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform