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

Antifreeze Proteins are the proteins that bind with the ice and lead to its inhibition. Because of such characteristics these proteins are integrated inside the bacteria, fishes, insects and plants.

The demand for antifreeze protein products across the globe is increasing due to its application in various fields such as cryosurgeries, cosmetics, organ transplants, vaccinations, and rising awareness regarding the benefits of AFP products. Nowadays, fish farming in the cold temperature is also feasible owing to the recent R&D advancements which also expected to drive the market growth. As per the Food And Aquaculture Organization Of United States, the world aquaculture fish production reached 114.5 million tonnes in 2018.

However, some of the restraints in the market include high R&D expenditure, production cost and market consolidation limiting the entry of new players.

Based on type, the market is fragmented into type I, type III, glycoproteins, and others. The type I sub-segment generated revenue of USD XX million in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027F. Moreover, a growing emphasis on fisheries and aquaculture across the globe is acting as a growth catalyst to the market. Type 1 protein is derived/extracted from fishes. So, with the rising production of fishes, the market of Type 1 protein is expected to witness an uptick in the forthcoming years. For instance, as per Government of India, 2020 Inland and Marine fish production have increased by 38.5% over the last six years.

Based on the product form, the market is divided into solid and liquid. The solid sub-segment generated revenue of USD XX million in 2020. 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 drive the market growth.

Based 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. Medical sub-segment generated revenue of USD XX million in 2020. The segment is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027F.

For a better understanding of the market adoption of the Antifreeze Proteins, the market is analyzed based on its global demand in the countries such as North America (United States, Canada, and 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 Rest of World. North America constitutes a major market for the antifreeze proteins and generated a revenue of USD XX million in 2020 owing to its robust use in cryosurgery as well as in skin treatment products e.g., anti-aging products.

Some of the major players operating in the market include 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 etc. Several M&A's along with partnerships have been undertaken by these players to boost their presence in different regions.

The global Antifreeze Proteins market was valued at USD XX million in 2020 and is projected to expand significantly with a CAGR of XX% from 2021-2027F. The global antifreeze proteins market is expected to grow significantly over the forecast period owing to increasing demand from various industries such as food & beverages, healthcare, and cosmetics, among others.