The UK silk yarn market has seen a declining trend from 2013 to 2023, with the volume standing at 45.14 thousand kilograms in 2023. Over this period, there was a consistent decrease, barring occasional increases in 2019 and 2021. Recent year-on-year variations indicate a continued negative trajectory with a decline of 5.35% in 2023. The compound annual growth rate (CAGR) over the last five years is -3.41%, pointing to a persistent downtrend, albeit a slightly less steep decline compared to prior years.
Future trends to watch for include:
- Potential market stabilization as declines slow down.
- Impact of sustainable and ethical sourcing practices on demand.
- Technological advancements in silk production and processing.
- Emerging consumer preferences towards alternative textiles.
