Antifreeze Proteins Market Thriving Owing to Its Wide Range Applications Across Different Industry
Global Antifreeze Proteins Market is expected to exceed the market valuation of more than US$ XX billion by 2027 expanding at a reasonable CAGR of around XX% during the forecast period (2021-2027). The antifreeze proteins, together with normal body salts, such as sodium chloride, depress the freezing point of body fluids to 2.5°C, bit lower than the freezing point of sea water.
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Rising working population paired with busy lifestyles has lead to a dramatic shift towards increased consumption of protein and protein substitute, this has inture increased the overall demand for antifreeze protein products worldwide. Furthermore, increasing demand for antifreeze proteins from end-use industry including cryosurgeries, cosmetics, organ transplants, vaccinations paired with rising awareness regarding the benefits of antifreeze proteins products along with rising inventsment in R&D activities by the companies are other major factors driving the growth of global Antifreeze proteins market. Antifreeze proteins are used in the food & beverages industry to ensure uniform texture to frozen products including ice cream, frozen fish and meat, and frozen dough among others. According to market research company Food for Thought (FFT), frozen potatoes market in UK, France, and Germany accounted for 53% share in Europe. Ireland was the leading market for per capita consumption of frozen potato with 11kg per capita consumption, compared to UK with 10kg and France with 8.8 kg. Overall, Europe consumed around 3.3 bn tons of frozen potatoes annually.
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The current impact of COVID-19 on global health is enormous, however, worldwide impact on the economy, employees, and companies is going to be considerable. The COVID-19 has impacted the Antifreeze Proteins market in a positive manner as the race for the developmrnt of COVID-19 vaccine, and the recent advancements in R&D has led to the increased demand of Antifreeze Proteins in the medical sector.
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Based on type, the global Antifreez protein market is fragmented into type I, type III, glycoproteins, and others. Growing emphasis on fisheries and aquaculture across the globe is futher acting as a growth catalyst to the market. So, with the rising fishery activity, market of Type 1 protein is expected to witness an uptick in the forthcoming years. For instance, In India, inland and Marine fish production have increased by 38.5% over the last six years.
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Based on the product form, global Antifreez protein 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 antifreeze products can be easily complexed with other mixers which further drive the market growth for solid antifreeze protein product. Base on end-user the market is segmented into Medical, Cosmetics, Food and Other end uses (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 vaccinations.
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Additionally, the report provides detailed initiatives that are being taken in the field of Antifreeze Proteins. The report provides a detail analysis of different regions including North America (US, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, UK and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of APAC), Rest of World. North America dominated the market and generate the highest revenue in 2020. Numerous national research institutes in North America supports the life sciences and biotechnology research which has lead to the growth of the antifreeze proteins market in the region. The demand for ice-creams having reduced sugar is increasing day by day globally, which has futher leads to an increasing demand for antifreeze proteins globally. Nichirei Corporation, Kaneka Corporation, A/F Protein Inc., Sirona Biochem, Unilever, ProtoKinetix, Inc., Shanghai Yu Tao Industrial Co., Ltd., Kodera Herb Garden Co., Ltd. Are some of the major companies operating in the market.
Global Antifreeze Proteins Market Segmentation
Market Insight, by Product Type
- Type I
- Type III
Market Insight, by Product Form
Market Insight, by End-Use Sectors
- Other Sectors
Market Insight, by Region
- North America Antifreeze Proteins Market
- United States
- Rest of North America
- Europe Antifreeze Proteins Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Antifreeze Proteins Market
- Rest of Asia-Pacific
- Rest of World Antifreeze Proteins Market
- Kaneka Corporation
- Aqua Bounty Technologies, Inc.
- Sirona biochem
- Nichirei Corporation
- A/F Protein Inc.
- ProtoKinetix, Inc.
- Shanghai Yu Tao Industrial Co., Ltd.
- Kodera Herb Garden Co., Ltd