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Algae Yarn Market by Application (Apparel, Home Textile, Healthcare, Industrial, Others) – Growth, Future Prospects And Competitive Analysis, 2016 - 2028

Algae yarn is made from interlocked algae fibers and is one of the best alternatives for the textile industry. Algae yarn is used for weaving, sewing, knitting, and even rope production. Algae yarn helps manufacturers depend more on ecological production processes. Algae and seaweed are hydrated microorganisms, making the algae yarn soothing to touch and wear. Apparel, Home Textile, Healthcare, and Industrial are some major application markets for algae yarn. However, with further extensive R&D, the application base of algae yarn is expected to be widened to accommodate many uses.

The Global Algae Yarn market is to witness the fastest growth compared to any other product in the value chain of the textile industry. As a result, the Algae yarn industry to exhibit a CAGR of a whopping 75% during the forecast period to garner USD 410.61 million in revenue by the end of 2028 from a meager USD 8.17 million in 2021. At the same time, the global algae yarn industry's cumulative growth opportunity is valued at just under one billion for the analysis period between 2022 and 2028. 

algae-yarn-market

Interesting Facts about Algae Yarn Industry

  • Algae-based fibers are naturally fire resistant
  • Algae yarns are 100% natural and do not involve any pesticides, and the large area of land
  • Algae Yarn offers a cheaper yet natural alternative to traditional clothing materials
  • Europe is leading the R&D of algae yarn, followed by North America
  • Algaeing and AlgiKnit are two significant players in the algae yarn industry for the time being  

Increasing Investment in R& for the Development of Cost Effective and Innovative Materials for Textile Industry to Drive the Demand for Algae Yarn

As the textile industry continues to boom, the interest in cost-effective and environment-friendly innovations grows. In addition, technological advancements are further paving the way for innovations in the yarn market with better substitutes to offer consumers. One such method is by incorporating algae for producing dyes, finishes, and yarn.

Another driver for the algae yarn market is progressive research and studies. The impressive and favorable results of yarn fibers increase consumer trust in algae. Algae yarn helps to remove the negativities around you and offers exceptional antibacterial properties.

Increasing Preference for Bio-based Materials to Push Algae Yarn Consumption 

Several driving factors continue to expand and promise future growth of the algae yarn market. The most significant push started with the Covid'19 when health concerns experienced a sharp peak across the globe. As buyers prioritize wellness, they don't simply change their diets. But buyers now look for healthier options in clothing as well.

There are several algae uses today, from aquatic feed essentials and edibles like cakes to clothing sectors and medications like anti-diabetic supplements. The algae market is on an assured rise. That's why it's not a shock that demand for algae yarn continues to boost. The entire algae product industry is predicted to be worth several billion Dollars by 2028.

Rising Demand for Healthcare Industry to Fuel the Growth of Algae Yarn

Algae yarn is softer and helps prevent skin dehydration and possible irritation is crucial. People are now careful about what they wear because they fear visiting hospitals with harmful viruses in the air. That is why the algae yarn market is rising in its fame for its anti-inflammation properties.

Quest for Alternative Materials Will Have Positive Impact on Growth of Algae Yarn

In addition, rising oil prices are crucial concerns of every economy today. High fuel prices mean increasing production costs and uncertain aggregate demands and supplies. The same can be said for the global textile industry.

However, algae yarn is cheaper than its alternatives like cotton yarn. And so, with the recent involvement of algae yarn in the mix, textile industry manufacturers can now optimize their costs. In a way, using algae yarn for the textile industry can help recover consumer confidence and bring back the previously reduced demands for textile products.

Lack of Awareness Among End-user to Hold Back Growth Rate of Algae Yarn to Some Extent 

A slight concern about the algae market is the lack of awareness. The algae market is still in its initial development phase. And so, most people either don't know enough about algae yarn, or they're still reluctant to buy products made from algae yarn.

Moreover, another significant concern about the algae yarn market is the limited techniques to extract and produce the yarn. Although less expensive than other options, algae yarn can still be costly for smaller players. Algae yarn production is still a complex and technical procedure.    

Huge Growth Potential for Future to Attract a Large Number of Investors 

Algaeing, AlgiKnit, Tjeerd Veenhoven, smartfiber AG, and Vitadylan are some of the major players operating in the algae yarn industry. However, with extensive expenditure on R&D and augmenting the application base, the demand for algae yarn will increase, which in turn is expected to attract more and more companies to venture into this industry. Innovation is the key to success in this market. Europe dominates the demand for algae yarn industry, followed by North America. UK, Germany, France, and the U.S. will be at the forefront of adopting algae yarn in several applications over the analysis period.

Frequently asked questions about global Algae Yarn industry

Like other industries, Algae Yarn market also suffered from COVID 19 pandemic which resulted into decline of over 10% in revenue generated in 2020

Europe is the largest regional market with highest share in the total volume of Algae Yarn consumed in 2021

Growing demand for organic materials including bio-yarn is mainly driving the demand for algae yarn

Apparel segment dominated the Algae Yarn market in 2021 with over 22.5% share

Healthcare segment is fastest growing segment with a CAGR above 80% during forecast period

Algae Yarn Report Scope

Report Attribute Details
Market Value in 2021 USD 8.17 million
Market Value in 2028 USD 410.61 million
CAGR 75% between 2021 and 2028
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Trusted By
Godaddy
Published Date:  May 2022
Category:  Consumer Goods
Report ID:   60547
Report Format:   PDF
Pages:   190
Rating:    4.8 (70)
Delivery Time: 24 Hours to 48 Hours   
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