The Antifreeze Proteins size is projected to reach USD 24.36 million by 2028 from an estimated USD 4.21 million in 2021, growing at a CAGR of 28.50% globally.
Antifreeze proteins (AFPs) are the ice structuring proteins, glycopeptides, and peptides made by allowing different organisms such as fish, yeast, plants, bacteria, and insects to survive in sub-zero conditions. The main function of antifreeze proteins is to decrease the freezing point of water and prevent the growth of ice crystals in the frozen stage thus decreasing the drip loss during thawing and improving the quality of frozen products and maintaining the smooth textures. Antifreeze proteins have multiple industrial functions including enhancement of foods’ freezing and liquefying properties, protection of frost plants, enhancement of ice cream’s texture, cryosurgery, and cryopreservation of cells and tissues. AFPs are mostly utilized in food and beverage industries to protect the food damage. The growing food and beverage industry are expected to support the development of the market over the analysis period.
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Major Key Players for Antifreeze Proteins Market:
- Nichirei Corporation. (Japan)
- Kaneka Corporation (Japan)
- A/F Protein Inc. (US)
- Sirona Biochem (Canada)
- Unilever (Netherlands)
- ProtoKinetix Inc. (US)
- Shanghai Yu Tao Industrial Co. Ltd. (China)
- Kodera Herb Garden Co. Ltd (Japan)
- Beijing Huacheng Jinke Technology Co. Ltd. (China)
Market Dynamics and Factors:
Increased investments in frozen products by Norwegian aquaculture enterprises are refueling market growth. The companies are focusing on the premium taste and texture of smoked fish. The rapidly increasing demand for aurora salmon from customers in the United Kingdom is propelling the business forward. Furthermore, prominent firms are focusing on the launch of low-cost organic salmon food products. As a result, the market is predicted to increase significantly throughout the forecast period. Improving aquaculture practices in cold regions, refining freeze tolerance development of plants, extending the harvest season in cold climates, and improving cryosurgery procedures, all these factors will boost the industry sales thus, creating lucrative opportunity for the market players. Furthermore, the increasing use of antifreeze proteins in yoghurts and ice creams is expected to support the development of the market over the coming years.
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Antifreeze Proteins Market Report Highlight:
- By type, the type I AFP segment is expected to have the maximum market share in antifreeze proteins during the projected period. It is extracted from fish on a larger scale which propels the growth of the market.
- By source, the insect segment is predicted to expand the most in the antifreeze proteins market during the forecast year. The AFP extracted from insects which is 10 times more effective than those which are extracted from fish, boosts the growth of the segment.
- By application, the medical segment is expected to dominate the antifreeze proteins market, during the projected period. The growing research and development in medical and biopharmaceutical companies support the growth of the market.
- By region, North America is expected to dominate the antifreeze proteins market, during the projected period. The presence of multiple biotechnology and life science research institutes in this region helps to propel the growth of the market of antifreeze proteins market in the projected timeframe.
Key Industry Development:
- In May 2021, AquaBounty Technologies, a U.S. biotechnology company launched genetically engineered salmon, which is the first of its kind in the world and also the only one to be currently available for commercial harvest. This newly developed genetic modification technology allows the company to produce 70% more salmon than the traditional methods of spawning and breeding.
- In September 2020, Sirona Biochem Corp., a biotechnology company based in the United States, has signed a collaboration agreement with WuXi Apptec, a biopharmaceutical company based in Shanghai, to scale up manufacturing of TFC-1067, a revolutionary skincare product for dark spot eradication. Skincare products require the usage of antifreeze proteins to maintain the stability and texture of the cosmetic product, thus the growth in the cosmetics industry is expected to support the market growth of antifreeze proteins.
Antifreeze Proteins Market Segmentation:
- Type I AFP
- Type III AFP
- Antifreeze glycoproteins
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For this report, Introspective Market Research has segmented the Antifreeze Proteins Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2022-2028)
- North America
- The U.S.
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of LATAM
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Scope of the Report:
The objective of the research is to provide the market knowledge and strategic insights to assist decision-makers in making informed investment decisions and identifying potential gaps and growth opportunities. Historical revenue and sales volume are reported, and additional data is triangulated using top-down and bottom-up methodologies to predict forecast numbers for important regions covered in the research, as well as classified and well-known Types and end-use industries. Antifreeze Proteins Market study explores the competitive landscape of the global market. In addition to rival market share research, in-depth profiling, product/service, and business overviews, the study focuses on BCG matrix, heat map analysis, and SWOT analysis to better correlate market competitiveness. Five forces analysis, Ansoff matrix, PESTEL analysis, and value chain analysis are used to better understand market conditions.
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