Antifreeze Proteins Market worth $27 million by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, March 18, 2021 /PRNewswire/ -- According to the new market research report "Antifreeze Proteins Market by Type (Type I, Type III, and Antifreeze glycoproteins), Form (Solid, and Liquid), End-use (Medical, Food and Cosmetics), Source (Fish, Plants, and Insects) & Region - Global Forecast to 2026", published by MarketsandMarkets™, the Antifreeze Proteins Market is estimated at USD 4 million in 2020; it is projected to grow at a CAGR of 36.3% to reach USD 27 million by 2026. Antifreeze proteins have key applications in the frozen foods, and thus, their demands are estimated to rise in the near future. The proteins are also developed for potential uses in cosmetic products, especially for skincare products that include high fats contents, from degrading. Cosmetics is another potential application sector, especially in the European and Asian markets. Thus, the market for the use of quality antifreeze proteins is expected to rise. The antifreeze proteins market is driven by factors such as increasing freeze tolerance of crop plants and extending the harvest season in cooler climates, improving fish farming production in cooler climates, the importance of extending the shelf life of frozen foods and improving cryosurgery procedures. The introduction of antifreeze proteins in ice creams and yogurts also drives its application in the food industry.
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The Type I sub-segment is estimated to account for the largest market share in the by type segment for antifreeze proteins market .
A/F Protein Inc. has been extracting and developing antifreeze proteins from Antarctic marine fishes such as Winter flounder successfully for many years. The majority of the proteins extracted are Type I, as they are the simple form of antifreeze proteins to identify in the DNA sequence and present in larger quantities. Thus, it is estimated to account for a larger market share in the global antifreeze proteins markets.
By Form, the solid sub-segment is estimated to account for the fastest growth in antifreeze proteins market.
Ice creams, frozen meat, and skin whitening creams are some of the popular applications where antifreeze proteins are used, mostly in their solid form. In addition, the solid form provides a longer shelf life than the liquid form, which makes this form most preferred for frozen food applications. Thus their usage is projected to rise in the global market.
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The medical sub-segment by end use is estimated to account for the largest market share of antifreeze proteins market over the forecast period.
The medical application segment is projected to dominate this market. The dominance of this segment can be attributed to increasing R&D investments from pharmaceutical and biotechnology companies and ongoing research for COVID-19 vaccinations globally. Antifreeze protein studies have emerged as a valuable tool in food science, medical, and biotechnology.
The insect sub-segment is estimated to observe the fastest market growth in the antifreeze market during the forecast period.
None of the insect antifreeze proteins are homologous to other proteins. Most AFP-producing terrestrial arthropods are freeze-avoiding and the AFPs function to prevent freezing. Their unique features are paving way for developing newer better applications os antifreeze protiens in the market through research and innovation. Thus, their demands are estimated to grow.
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North America is estimated to be the largest market.
In North American region, the demand for reduced-sugar ice creams and frozen dairy desserts is constantly rising. The use of antifreeze proteins helps improve the texture of ice cream products by inhibiting the ice recrystallization and by inhibiting the formation of large ice crystals and naturally can be used for low fat and low sugar frozen desserts. The has strongly established market for food sector and also giant players have their key subsidiaries and headquarters in the region which strengthens the market.
Key players in this market include 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). These players in this market are focusing on increasing their presence through expansions & acquisitions. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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