Antifreeze Proteins Market: Current Analysis and Forecast (2021-2027)

Report Description

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.

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.

Volume of frozen confectionery and desserts in Great Britain from 2010-2020 (Mn Kilograms)

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.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Antifreeze Proteins Market were the three major steps undertaken to create and analyze the demand of Antifreeze Proteins for the different applications across major sectors such as medical, cosmetics, and food globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Antifreeze Proteins sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Antifreeze Proteins through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Antifreeze Proteins market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments for major regions. Major segments included in the report are product type, product form, product source, and end-user. Further country-level analyses were conducted to evaluate the overall demand of Antifreeze Proteins in every region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Antifreeze Proteins. Further, we conducted factor analysis using dependent and independent variables such as increasing demand for frozen foods and cosmetics. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the antifreeze proteins industry across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Antifreeze Proteins market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (USD) and the adoption rate of Antifreeze Proteins across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the antifreeze proteins market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Antifreeze Proteins market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, product form, product source, and end-user of the Antifreeze Proteins market.

Main Objective of the Antifreeze Proteins Market Study

The current & future market trends of Antifreeze Proteins were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of Antifreeze Proteins in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of product type, product form, product source, and end-user
• Define and analysis of the regulatory framework for the Antifreeze Proteins industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
• Analyze the current and forecast market size of the Antifreeze Proteins market for the major region
• Major regions studied in the report include North America (the United States and Canada), Europe (Germany, France, Italy, Spain, and United Kingdom), Asia-Pacific (China, Japan, India, and Australia), and Rest of the World
• Company profiles of the Antifreeze Proteins market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry