Research report presented by UnivDatos, Emphasis on Product Type (Type I, Type III, Glycoproteins, and Others); Product Form (Solid, Liquid); Product Source (Plants, Fish, Insects, Others); End-Use Sectors (Medical, Cosmetics, Foods, Others), and Geographical analysis (key regions and countries).
As per the research report, Global Antifreeze Proteins Market was valued at almost US$ 3 million in 2019 and is projected to expand significantly with a CAGR of ~32% from 2021 to 2027. Antifreeze proteins (AFPs) are produced by a variety of organisms to enable their cells to survive in subzero temperatures. AFPs work by lowering the freezing point of water and preventing the formation of ice crystals and recrystallization during freezing storage.
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With the hectic lifestyle and stressful working hours, consumers have less time to indulge in delicacies, and frozen foods are becoming increasingly important. Frozen food items get deteriorated easily and lose their nutritional value. Hence, to overcome this challenge both manufacturers and sellers of frozen food products lure towards the antifreeze proteins, which is boosting the growth of the market. Antifreeze proteins are used in the food & beverages industry to ensure uniform texture in items such as ice cream, frozen fish and meat, and frozen dough. Antifreeze proteins can also be used in the dairy, meat, and vegetable industries, as well as the confectionery industry. According to research company Food for Thought (FFT) before the pandemic, the European market for frozen potatoes by value was encouraging. The UK, France, and Germany had 53% of the total market of EUR 6.66 (USD 8) bn. On a consumption per capita basis, Ireland was the leading market with over 11kg per capita, in front of the UK with a little over 10kg and France with 8.8kg. Overall, Europe was consuming some 3.3 bn tons of frozen potatoes annually, before 2020.
Apart from food & beverage applications, antifreeze proteins have potential applications in organ transplants, vaccines, cryosurgery, and cosmetics, among others. The antifreeze proteins market is also driven by a rise in R&D activities and technological advancements to promote fish farming in extremely cold environments.
Kaneka Corporation, Aqua Bounty Technologies, Inc., Sirona Biochem, Unilever, Nichirei Corporation, A/F Protein Inc., ProtoKinetix, Inc., Shanghai Yu Tao Industrial Co., Ltd., Kodera Herb Garden Co., Ltd. are some of the prominent players operating in the antifreeze proteins market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Product Type, type I segment holds the major share.”
Based on the product type the market is divided into Type I, Type III, Glycoproteins, and Others. The largest market share is driven by the Type I subsegment. Type 1 protein is derived from fishes. A growing emphasis on fisheries and aquaculture across the globe is acting as the growth catalyst to the market. For instance, as per the Government of India, 2020 inland and marine fish production has increased by 38.5% over the last six years.
“Amongst Product Form, solid is anticipated to grow at the highest CAGR during the analyzed period.”
Based on the product form the market is divided into solid and liquid. The solid sub-segment grabbed the major market and is expected to dominate the market in the forecast period owing to ease in transportation and storage. Also, the solid products can be easily complexed with other mixers which further drives the market growth.
Amongst Product Source, the fish segment holds the major share”
Based on the product source, the market is divided into plants, fish, insects, and others. The fish form grabbed the major market share and dominated the market. Marine fish proteins are the most favorable source of antifreeze proteins. As per FAO stats, in 2018 the production of marine fisheries was 84.4 million tonnes, up from 81.2 million in 2017.
Amongst End-Use Sectors, the medical segment holds the major share”
Based on end-user the market is segmented into medical, cosmetics, food, and others (agriculture, material science, petroleum, climate control, and artificial snow production). The medical sub-segment dominated the market owing to the rise in the use of AFPs in cryosurgeries, organ transplants, and vaccine production. In the medical field, there is a high need for organ transplantation due to the rise in the cases of organ failures. As per NHS Blood and Transplant report (2021), 4,640 people are waiting for a transplant in the UK and 105 and people have received a transplant since April 2021.
“North America signifies one of the largest markets of Antifreeze Proteins Market.”
For a better understanding of the market dynamics of the antifreeze proteins market, a detailed analysis was conducted for different regions across the globe including North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and the Rest of World. North America dominated the market and expected to maintain its dominance over the forecast period due to the presence of key players and well-established end-use sectors such as medical, cosmetics, and food & beverages.
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