Meticulous Research®—a leading global market research company, published a research report titled ‘Antifreeze Protein Market by Type (Type I, Type III, Antifreeze Glycoprotein, and Other); Form (Solid, Liquid); Source (Fish, Insects, Plants, and Microorganism); Application (Medical, Cosmetics, Food & Beverages, and Other) - Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the antifreeze protein market is projected to reach $85.8 million by 2030, at a CAGR of 33.4% during the forecast period of 2023–2030. The growth of the antifreeze protein market is mainly attributed to the rising consumer demand for frozen food, the increasing application of antifreeze protein in the medical industry, and the growing awareness of antifreeze protein. However, high R&D expenditure and production costs are expected to hinder the growth of this market to a certain extent.
The antifreeze protein market is segmented by type (type I, type III, antifreeze glycoprotein, and other types); form (solid, liquid); source (fish, insects, plants, and microorganisms); application (medical, cosmetics, food & beverages, and other applications); and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on type, in 2023, the type I segment is expected to account for the largest share of the antifreeze protein market. The large market share of this segment is attributed to the increasing availability of fish protein, ease of use in different applications, and successful R&D practices.
Based on form, in 2023, the solid form is expected to account for the larger share of the antifreeze protein market. The large market share of this segment is attributed to its easy storage, increased application in frozen food, and easy availability of antifreeze protein in solid form.
Based on source, the insect segment is expected to register the highest CAGR during the forecast period. The growth of this segment is mainly attributed to the growing demand for environment-friendly protein-rich food and the rising investments in edible insect farming.
Based on application, in 2023, the medical segment is expected to account for the largest share of the antifreeze protein market. The large market share of this segment is mainly attributed to the rising R&D from biotechnology and medical companies, increased application of antifreeze protein in cryopreservation and organ transplantation treatment, and functional properties of antifreeze protein suitable for medical treatments.
Based on geography, in 2023, North America is expected to account for the largest share of the antifreeze protein market. The large share of this regional market is attributed to the presence of key players and research institutes, well-established end-use industries, such as medical, food and beverages, and cosmetics, increasing demand for frozen food, and technological advancements.
The antifreeze protein market is characterized by a moderately competitive scenario due to many large and small-sized global, regional, and local players. The key players operating in the global antifreeze protein market are A/F Protein Inc. (U.S.), KANEKA CORPORATION (Japan), AquaBounty Technologies, Inc. (U.S.), Sirona Biochem Corp. (Canada), Nichirei Corporation (Japan), ProtoKinetix, Inc. (U.S.), Unilever PLC (U.K.), and Rishon Biochem Co., Ltd (China).
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