The global antifreeze proteins market 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%.
The antifreeze proteins market is experiencing robust growth, driven by several key factors. One primary driver is the adoption of antifreeze proteins to enhance freeze tolerance in plants, resulting in extended harvest seasons in colder regions. Additionally, the application of antifreeze proteins in fish farming in cooler climates and the extension of shelf life for frozen foods are bolstering their demand. The food and cosmetics industries are also embracing antifreeze proteins for various applications like ice creams and yogurts, meeting the rising demand for fresh and frozen foods as consumers embrace healthier lifestyles.
Type I Antifreeze Proteins Leading the Way
Type I antifreeze proteins are the dominant force in the market, thanks to their easy identification in DNA sequences and abundance. They find extensive use in cosmetics, medicinal products, and packing frozen foods to prevent ice crystal formation.
Preference for Solid Form of Antifreeze Proteins
The solid form of antifreeze proteins is gaining favor due to its longer shelf life compared to the liquid form. It is the preferred choice in various applications, including ice creams, frozen meat, and skin-whitening creams, while also contributing to reduced production costs.
Frozen Food Applications Fueling Market Growth
The growing trend of using frozen foods has significantly contributed to the market’s growth. With the global population on the rise, the demand for antifreeze proteins to prevent ice crystal formation in frozen foods has witnessed a notable increase.
Asia Pacific: Key Growth Region
Asia Pacific stands out as a key growth region, offering 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, experiencing a surge in the consumption of various food, cosmetics, and medicinal products, provide ample opportunities for market expansion.
Key Players in the Antifreeze Proteins Market
Leading 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).
