United Kingdom: Raw Silk Market 2024

Raw Silk Market Size in the UK

In 2022, the UK raw silk market increased by 15% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, recorded a prominent increase. Raw silk consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Raw Silk Production in the UK

In value terms, raw silk production amounted to $X in 2022 estimated in export price. Over the period under review, production recorded a sharp setback. The most prominent rate of growth was recorded in 2014 with an increase of 264%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

In 2022, the average raw silk yield in the UK was estimated at less than X kg per ha, stabilizing at the previous year. In general, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The raw silk harvested area in the UK stood at less than X ha in 2022, remaining relatively unchanged against the year before. Overall, the harvested area saw a relatively flat trend pattern.

Raw Silk Exports

Exports from the UK

In 2022, exports of raw silk from the UK soared to X tons, rising by 87% on the previous year's figure. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 693%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, raw silk exports soared to $X in 2022. Overall, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 545% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X kg) was the main destination for raw silk exports from the UK, accounting for a 66% share of total exports. Moreover, raw silk exports to the Netherlands exceeded the volume sent to the second major destination, Australia (X kg), threefold. The third position in this ranking was taken by Italy (X kg), with a 5.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+13.0% per year) and Italy (+5.2% per year).

In value terms, Italy ($X) emerged as the key foreign market for raw silk exports from the UK, comprising 66% of total exports. The second position in the ranking was taken by Australia ($X), with a 14% share of total exports. It was followed by the Netherlands, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Italy totaled +60.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+14.9% per year) and the Netherlands (0.0% per year).

Export Prices by Country

The average raw silk export price stood at $X per ton in 2022, with a decrease of -4.1% against the previous year. Over the period under review, the export price, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 when the average export price increased by 396% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+75.6%), while the prices for the other major destinations experienced more modest paces of growth.

Raw Silk Imports

Imports into the UK

In 2022, the amount of raw silk imported into the UK reduced to X tons, waning by -4.2% against the year before. In general, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 192% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then fell modestly in the following year.

In value terms, raw silk imports surged to $X in 2022. Overall, imports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2018 when imports increased by 140%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

China (X tons), India (X tons) and Italy (X kg) were the main suppliers of raw silk imports to the UK, with a combined 100% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +53.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest raw silk suppliers to the UK were China ($X), India ($X) and Italy ($X), with a combined 99% share of total imports.

India, with a CAGR of +34.8%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average raw silk import price stood at $X per ton in 2022, picking up by 37% against the previous year. In general, the import price, however, showed a perceptible contraction. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+4.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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