Global Sericin Market Analysis by Region

6 min read

Updated on 11/21/2024

The revenue share of the sericin market in North America has fluctuated slightly, dropping from 29.80% in 2018 to 28.84% in 2023. The Asia Pacific region has shown a growth trend, increasing from 36.04% in 2018 to 37.55% in 2023, indicating the growing importance of the Asia Pacific region in the global sericin market. The market share in the European region is showing a downward trend, from 28.27% in 2018 to 27.62% in 2023. The market share of Latin America has increased during this period, from 3.04% in 2018 to 3.17% in 2023. The market share in the Middle East and Africa region is relatively small, showing a slight decline from 2.85% in 2018 to 2.82% in 2023.

Overall, the Asia Pacific region has seen the most significant increase in its share of the global sericin market, possibly due to the growth in sericin production and application in the region. The market share in North America and Europe is relatively stable or slightly declining.

	2018	2019	2020	2021	2022	2023
North America	29.80%	29.67%	29.55%	29.35%	29.05%	28.84%
Asia Pacific	36.04%	36.31%	36.60%	36.93%	37.23%	37.55%
Europe	28.27%	28.11%	27.95%	27.82%	27.74%	27.62%
Latin America	3.04%	3.06%	3.07%	3.09%	3.15%	3.17%
Middle East and Africa	2.85%	2.84%	2.83%	2.81%	2.83%	2.82%
Total	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

2. North America Sericin Market Analysis

The revenue of the sericin market in North America was $82.26 million in 2018, and then slightly increased to $84.78 million in 2019, with a growth rate of 3.06%. However, in 2020, the revenue decreased to $76.07 million, with a negative growth rate of -10.27%. From 2020 to 2021, the revenue of the North American sericin market has significantly recovered and grown, reaching $82.67 million in 2021 with a growth rate of 8.67%. In 2022, the revenue will further increase to $88.70 million, with a growth rate of 7.30%, while in 2023, the revenue will reach $92.03 million, with a growth rate of 3.75%.

Figure North America Sericin Revenue (M USD) and Growth Rate (2018-2023)

In 2019, the sales volume of sericin in North America reached 1196.9 tons, an increase of 3.68% compared to 1154.4 tons in 2018. However, the sales volume decreased to 1080.7 tons in 2020, with a growth rate of -9.71%. From 2020 to 2021, the sales volume of North American sericin has significantly recovered and increased, reaching 1155.2 tons in 2021, with a growth rate of 6.89%. In 2022, the sales volume will further increase to 1215.7 tons, with a growth rate of 5.24%, while in 2023, the sales volume will reach 1277.0 tons, with a growth rate of 5.05%.

Figure North America Sericin Sales Volume (Tons) and Growth Rate (2018-2023)

3. Asia Pacific Sericin Market Analysis

In 2019, the revenue of the sericin market in the Asia Pacific region reached $103.75 million, an increase of 4.28% from $99.49 million in 2018. However, in 2020, the revenue decreased to $94.21 million, with a negative growth rate of -9.19%. From 2020 to 2021, the sericin market revenue in the Asia Pacific region has significantly recovered and grown, reaching $104.02 million in 2021 with a growth rate of 10.41%. In 2022, the revenue will further increase to $113.68 million, with a growth rate of 9.28%, while in 2023, the revenue will reach $119.83 million, with a growth rate of 5.41%.

Figure Asia Pacific Sericin Revenue (M USD) and Growth Rate (2018-2023)

In 2019, the sales volume of sericin in the Asia Pacific region reached 1737.2 tons, an increase of 5.09% compared to 1653.0 tons in 2018. However, the sales volume significantly decreased to 1590.4 tons in 2020, with a growth rate of -8.45%. From 2020 to 2021, the sales volume of sericin in the Asia Pacific region has significantly recovered and increased, reaching 1731.0 tons in 2021, with a growth rate of 8.84%. In 2022, the sales volume will further increase to 1859.6 tons, with a growth rate of 7.43%, while in 2023, the sales volume will reach 1989.1 tons, with a growth rate of 6.97%.

Figure Asia Pacific Sericin Sales Volume (Tons) and Growth Rate (2018-2023)

4. Europe Sericin Market Analysis

In 2019, the revenue of the sericin market in Europe reached $80.31 million, an increase of 2.91% from $78.04 million in 2018. However, in 2020, the revenue decreased to $71.96 million, with a negative growth rate of -10.40%. From 2020 to 2021, the revenue of the European sericin market has significantly recovered and grown, reaching 78.36 million US dollars in 2021, with a growth rate of 8.89%. In 2022, the revenue will further increase to $84.72 million, with a growth rate of 8.12%, while in 2023, the revenue will reach $88.14 million, with a growth rate of 4.04%.

Figure Europe Sericin Revenue (M USD) and Growth Rate (2018-2023)

In 2019, the sales volume of sericin in Europe reached 1125.5 tons, an increase of 3.72% compared to 1085.2 tons in 2018. However, the sales volume significantly decreased to 1016.7 tons in 2020, with a growth rate of -9.67%. From 2020 to 2021, the sales volume of European sericin has significantly recovered and increased, reaching 1091.3 tons in 2021, with a growth rate of 7.33%. In 2022, the sales volume will further increase to 1159.8 tons, with a growth rate of 6.28%, while in 2023, the sales volume will reach 1224.5 tons, with a growth rate of 5.58%.

Figure Europe Sericin Sales Volume (Tons) and Growth Rate (2018-2023)

5. Latin America Sericin Market Analysis

In 2019, the sericin market revenue in Latin America reached $8.73 million, an increase of 4.20% from $8.38 million in 2018. However, in 2020, market revenue decreased to $7.91 million, with a growth rate of -9.41%. From 2020 to 2021, the revenue of the Latin American sericin market has significantly recovered and grown, reaching $8.69 million in 2021 with a growth rate of 9.94%. In 2022, the revenue will further increase to $9.62 million, with a growth rate of 10.60%, while in 2023, the revenue will reach $10.13 million, with a growth rate of 5.29%.

Figure Latin America Sericin Revenue (M USD) and Growth Rate (2018-2023)

In 2019, the sales volume of sericin in Latin America reached 136.3 tons, an increase of 5.01% compared to 129.8 tons in 2018. However, the sales volume decreased to 124.5 tons in 2020, with a growth rate of -8.67%. From 2020 to 2021, the sales volume of sericin in Latin America has significantly recovered and increased, reaching 134.9 tons in 2021, with a growth rate of 8.37%. In 2022, the sales volume will further increase to 146.6 tons, with a growth rate of 8.72%, while in 2023, the sales volume will reach 156.7 tons, with a growth rate of 6.84%.

Figure Latin America Sericin Sales Volume (Tons) and Growth Rate (2018-2023)

6. Middle East and Africa Sericin Market Analysis

In 2019, the sericin market revenue in the Middle East and Africa region reached $8.13 million, an increase of 3.13% from $7.88 million in 2018. However, in 2020, market revenue decreased to $7.28 million, with a growth rate of -10.46%. From 2020 to 2021, the sericin market revenue in the Middle East and Africa has significantly recovered and grown, reaching $7.90 million in 2021 with a growth rate of 8.60%. In 2022, the revenue will further increase to $8.64 million, with a growth rate of 9.38%, while in 2023, the revenue will reach $8.99 million, with a growth rate of 3.99%.

Figure Middle East and Africa Sericin Revenue (M USD) and Growth Rate (2018-2023)

In 2019, the sales volume of sericin in the Middle East and Africa region reached 122.5 tons, an increase of 3.93% compared to 117.8 tons in 2018. However, the sales volume decreased to 110.5 tons in 2020, with a growth rate of -9.73%. From 2020 to 2021, the sales volume of sericin in the Middle East and Africa has significantly recovered and increased, reaching 118.3 tons in 2021, with a growth rate of 7.05%. In 2022, the sales volume will further increase to 127.2 tons, with a growth rate of 7.52%, while in 2023, the sales volume will reach 134.3 tons, with a growth rate of 5.53%.