Year 11 | 14 November 2019 | TO ENTER | TO REGISTER

Indian sericulture market to grow of 20% next 5 years

Sericulture, which refers to the art of rearing silkworms for the production of silk is currently experiencing strong growth in India. The market for silk in India is driven by both exports and a very strong domestic demand. Fabrics made up of silk are quite popular in the domestic market during ceremonies, religious rituals, weddings, festivals, etc. Research firm IMARC Group expects the total sales value in this market to grow at a CAGR of around 20% during 2011-12 - 2017-18, according to its latest report titled “Indian Agriculture Market Report & Forecast: (2012-2017)”. The report which has done a comprehensive analysis on the current and future trends of the Indian sericulture market, expects the domestic demand as well as exports to show strong growth in the coming years. According to an analyst at IMARC Group, “Though India is currently the world’s second largest producer and the largest consumer of raw silk and silk fabrics, the demand of silk is significantly outpacing its supply. This is creating huge opportunities for setting up silk manufacturing facilities in the country”.

According to the report, India is the only country that commercially produces all the four types of silk - mulberry silk, tasar silk, eri silk and muga silk. Mulberry silk represents the most popular category of silk produced in India, while Muga silk currently represents the most expensive category of silk. Findings from the report also suggest that the sericulture industry in India is entrenched in Karnataka, Andhra Pradesh, Maharashtra, Orissa, Madhya Pradesh, Manipur, Uttarakhand, Tamil Nadu, West Bengal, Jammu & Kashmir, Bihar, Jharkhand, Meghalaya, Arunachal Pradesh, etc. Among these, Karnataka tops in the list followed by Andhra Pradesh, West Bengal and Tamil Nadu.

IMARC’s new report entitled “Indian Agriculture Market Report & Forecast: 2012-2017” provides an analytical and statistical insight into the agriculture industry along with its various segments and sub-segments. The study that has been undertaken using both desk-based and qualitative primary research has analyzed various aspects and provides a comprehensive understanding of the Indian agriculture market. The report can serve as an excellent guide for investors, researchers, consultants, marketing strategists, and all those who are looking to foray into the Indian agriculture market in some form or the other.

by S. C.
06 december 2012, World News > Asia