IndexBox has just published a new report: ‘Asia – Silk-Worm Cocoons – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

The revenue of the silk-worm cocoons market in Asia amounted to $8.3B in 2018, jumping by 5.5% 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).

Consumption By Country in Asia

China (403K tonnes) constituted the country with the largest volume of silk-worm cocoons consumption, accounting for 67% of total volume. Moreover, silk-worm cocoons consumption in China exceeded the figures recorded by the second-largest consumer, India (161K tonnes), threefold. Uzbekistan (18K tonnes) ranked third in terms of total consumption with a 2.9% share.

In China, silk-worm cocoons consumption increased at an average annual rate of +1.2% over the period from 2013-2018. The remaining consuming countries recorded the following average annual rates of consumption growth: India (+1.3% per year) and Uzbekistan (-7.5% per year).

In value terms, the largest silk-worm cocoons markets in Asia were China ($4.5B), India ($3.4B) and Iran ($155M), with a combined 98% share of the total market.

The countries with the highest levels of silk-worm cocoons per capita consumption in 2018 were Uzbekistan (548 kg per 1000 persons), China (278 kg per 1000 persons) and Iran (161 kg per 1000 persons).

From 2013 to 2018, the most notable rate of growth in terms of silk-worm cocoons per capita consumption, amongst the main consuming countries, was attained by Iran, while silk-worm cocoons per capita consumption for the other leaders experienced more modest paces of growth.

Market Forecast to 2030

Driven by increasing demand for silk-worm cocoons in Asia, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +0.8% for the period from 2018 to 2030, which is projected to bring the market volume to 668K tonnes by the end of 2030.

Production in Asia

In 2018, the silk-worm cocoons production in Asia amounted to 604K tonnes, rising by 1.9% against the previous year. In general, silk-worm cocoons production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 when production volume increased by 2.6% y-o-y. The volume of silk-worm cocoons production peaked in 2018 and is likely to see steady growth in the near future.

Production By Country in Asia

The country with the largest volume of silk-worm cocoons production was China (403K tonnes), comprising approx. 67% of total volume. Moreover, silk-worm cocoons production in China exceeded the figures recorded by the second-largest producer, India (161K tonnes), threefold. The third position in this ranking was occupied by Uzbekistan (18K tonnes), with a 3% share.

In China, silk-worm cocoons production increased at an average annual rate of +1.2% over the period from 2013-2018. In the other countries, the average annual rates were as follows: India (+1.3% per year) and Uzbekistan (-7.5% per year).

Exports in Asia

In 2018, the silk-worm cocoons exports in Asia stood at 278 tonnes, coming down by -43.9% against the previous year.

In value terms, silk-worm cocoons exports amounted to $1.2M (IndexBox estimates) in 2018. Over the period under review, silk-worm cocoons exports continue to indicate a drastic downturn. The level of exports peaked at $2.8M in 2014; however, from 2015 to 2018, exports failed to regain their momentum.

Exports by Country

Uzbekistan dominates silk-worm cocoons exports structure, recording 180 tonnes, which was near 65% of total exports in 2018. It was distantly followed by China (22 tonnes) and Iran (21 tonnes), together creating a 15% share of total exports. Tajikistan (12 tonnes), Myanmar (10 tonnes), Kyrgyzstan (7.2 tonnes) and Turkey (6.1 tonnes) took a relatively small share of total exports.

Exports from Uzbekistan decreased at an average annual rate of -4.2% from 2013 to 2018. At the same time, Kyrgyzstan (+23.6%) displayed positive paces of growth. Moreover, Kyrgyzstan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +23.6% from 2013-2018. By contrast, Iran (-4.3%), China (-19.6%), Tajikistan (-20.9%), Turkey (-27.5%) and Myanmar (-84.0%) illustrated a downward trend over the same period. Myanmar (+3.6 p.p.) and Kyrgyzstan (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while Iran, Turkey, Tajikistan, Uzbekistan and China saw its share reduced by -1.8%, -8.8%, -9.7%, -15.4% and -15.6% from 2013 to 2018, respectively.

In value terms, the largest silk-worm cocoons supplying countries in Asia were Uzbekistan ($309K), China ($249K) and Kyrgyzstan ($145K), together comprising 60% of total exports. These countries were followed by Myanmar, Tajikistan, Turkey and Iran, which together accounted for a further 26%.

In terms of the main exporting countries, Myanmar experienced the highest growth rate of the value of exports, over the period under review, while exports for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2018, the silk-worm cocoons export price in Asia amounted to $4,215 per tonne, falling by -18.8% against the previous year. Over the period under review, the silk-worm cocoons export price continues to indicate a drastic reduction. The pace of growth appeared the most rapid in 2017 an increase of 3% against the previous year. Over the period under review, the export prices for silk-worm cocoons (reelable) reached their peak figure at $6,720 per tonne in 2013; however, from 2014 to 2018, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Kyrgyzstan ($20,181 per tonne), while Iran ($930 per tonne) was amongst the lowest.

From 2013 to 2018, the most notable rate of growth in terms of prices was attained by Myanmar (+305.2% per year), while the other leaders experienced a decline in the export price figures.

Source: IndexBox AI Platform