Algae yarn is made from interlocked algae fibres 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 of the major application markets for the algae yarn. However, with further extensive R&D, application base of algae yarn expected to be widened to accommodate multitude of uses.
Global Algae Yarn market to witness fastest growth as compare to any other product in value chain of textile industry. Algae yarn industry to exhibit CAGR of whopping 75% during the forecast period to garner USD 410.61 million in revenue by the end of 2028 from meagre USD 8.17 million in 2021. While, cumulative growth opportunity that global algae yarn industry can offer is valued at just under one billion for the analysis period ranging between 2022 and 2028.
Interesting Facts about Algae Yarn Industry
Algae based fibres are naturally fire resistant
Algae yarns are 100% natural and does not involve any pesticides and 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 major players in 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. 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 about yarn fibres 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 either that demand for algae yarn continues to boost. The entire algae product industry is even 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 to prevent skin dehydration, and possible irritation is a crucial element. People are now careful about what they wear because of their fear of 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 Large Number of Investors
Algaeing, AlgiKnit, Tjeerd Veenhoven, smartfiber AG and Vitadylan are some of the maor players operating in algae yarn industry till date. However, with extensive expenditure on R&D and augmenting application base, the demand for algae yarn will increase which in turn expected to attract more and more companies to venture into this industry. Innovation is a key to success in this market. Europe to dominate the demand for algae yarn industry followed by North America. UK, Germany, France, and U.S. will be on forefront of adoption of algae yarn in several applications over the analysis period.
