Antifreeze Proteins Market by Type (Type I, Type III, Antifreeze Glycoproteins), End-use (Medical, Cosmetics, Food), Source (Fish, Plants, Insects), Form, and Region(North America, Europe, Asia Pacific, South America, RoW) - Global Forecast to 2028

Northbrook, IL 60062 -- (SBWire) -- 07/25/2023 --According to a research report by MarketsandMarkets titled "Antifreeze Proteins Market," the global market for antifreeze proteins is expected to grow significantly over the forecast period from 2023 to 2028. The market is estimated to be worth USD 10 million in 2023 and is projected to reach USD 50 million by 2028, with a compound annual growth rate (CAGR) of 37.2%.

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Several factors are driving the growth of the antifreeze proteins market. One major factor is the increasing freeze tolerance of plants achieved by introducing antifreeze proteins, which has led to the extension of harvest seasons in colder regions. Additionally, antifreeze proteins are being utilized to enhance fish farming in cooler climates and to extend the shelf life of frozen foods, further boosting their demand. The food and cosmetics industries have also embraced antifreeze proteins for various applications like ice creams and yogurts, driven by the rising demand for fresh and frozen foods as people adopt healthier lifestyles.

The market is mainly driven by the high demand for Type I antifreeze proteins, which are easy to identify in DNA sequences and are present in larger quantities. They find extensive applications in different cosmetics and medicinal products as well as in packing frozen foods to prevent ice crystal formation.

The solid form of antifreeze proteins is gaining popularity due to its longer shelf life compared to the liquid form. This makes it a preferred choice for applications in ice creams, frozen meat, and skin-whitening creams, and it also reduces production costs.

The increasing trend of frozen food applications has contributed significantly to the market growth, as the global population continues to rise, leading to a higher demand for antifreeze proteins to prevent ice crystal formation in frozen foods.

Fish source holds the largest market share due to the ease of extraction and application of antifreeze proteins from fish. However, the high extraction cost is encouraging manufacturers to explore other sources.

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Asia Pacific is expected to offer the highest growth prospects for the antifreeze proteins market in 2023. The region's diverse market is driven by economic growth, urbanization, and increased purchasing power. Countries like India and China are witnessing a surge in the consumption of various food, cosmetics, and medicinal products, providing ample opportunities for market expansion.

Key players in the antifreeze proteins market include Nichirei Corporation (Japan), Kaneka Corporation (Japan), A/F Protein Inc. (US), Sirona Biochem (Canada), Unilever (Netherlands), ProtoKinetix, Inc. (US), Shanghai Yu Tao Industrial Co., Ltd. (China), Kodera Herb Garden Co., Ltd (Japan), Beijing Huacheng Jinke Technology Co., Ltd. (China), Rishon Biochem Co., Ltd (China), and MyBiosource, Inc. (US).

In conclusion, the global antifreeze proteins market is set to witness substantial growth in the coming years, driven by the increasing demand for frozen foods, cosmetics, and medicinal products, as well as the introduction of antifreeze proteins in various applications across different industries. The Asia Pacific region, in particular, is expected to be a key growth area for this market.

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