Antifreeze Proteins Market Driving Factors and Future Trends 2023

Posted on 2021-02-08 by MarketsandMarkets in Food & Beverage // 0 Comments

The antifreeze proteins market is projected to grow at a CAGR of 30.0% from USD 2.7 million in 2018 to reach a value of USD 10.0 million by 2023. Antifreeze proteins, also known as ice structuring proteins or ice-binding proteins, bind to ice and subsequently inhibit the growth of ice crystals. They are biological antifreeze materials originally found in polar fish and also in certain plants and insects.

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The worldwide demand for antifreeze protein is on the rise, particularly in the medical industry. The demand is driven by the performance quality and functionality of antifreeze proteins used in cryosurgery, organ transplants, and vaccines. Increasing demand for antifreeze proteins in the cosmetics industries is also one of the factors significantly supporting market development.

The variations with regard to the quality of grades of sources such as fish, plants, and insects determine the final application of the antifreeze proteins in the different industrial sectors such as food, medical, and cosmetics. Fish antifreeze proteins are widely preferred for applications such vaccinations, organ transplants, antiaging creams, cosmetics, and ice creams.

The antifreeze proteins market is segmented on the basis of end-use into medical, cosmetics, and food. The medical segment is estimated to dominate the market; this segment accounted for the largest share in 2017. Antifreeze proteins are used in cryopreservation and organ transplantation which is expected to fuel their demand for antifreeze proteins during the review forecast period. The dominance of this segment can be attributed to increasing R&D investments from pharmaceutical and biotechnology companies and ongoing research for vaccines.

The market is segmented on the basis of form into liquid and solid. The use of solid antifreeze protein in the medical and food sectors is rapidly growing. The increase in demand for solid antifreeze proteins from the frozen food industry is projected to drive the solid segment during the review period.

On the basis of type, the market is segmented into Type I, Type III, and AFGP. The extraction process depends on the source and the type of antifreeze protein required. Recently, the demand for Type III has been rising due to the advancements in extraction technologies making them fit for cosmetic and food applications.

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The market is also segmented on the basis of region into North America, Europe, Asia Pacific, and Rest of the World (RoW). Europe and North America are estimated to be the dominant regions in the antifreeze proteins market in 2018. North America has several national research institutes which support biotechnology and life sciences research which in turn supports the growth of the market, identifying new areas of applications. However, North America is projected to be the fastest-growing market during the forecast period, due to increased awareness and government funding for proteomics and life sciences research and increasing R&D investments in the region.

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