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(Health-NewsWire.Net, June 22, 2021 ) The antifreeze proteins market is estimated at USD 4 million in 2020; it is projected to grow at a CAGR of 36.3% to reach USD 27 million by 2026. The antifreeze proteins market is driven by their rising usage in the frozen food products globally. They also facilitate the cold storage of fresh food for trade which ensures the maintenance of food quality till the food reaches the end users thus their usage is growing.
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Driver: Increase in Awareness of benefits associated with antifreeze proteins
Antifreeze proteins control ice crystal growth brought on by thawing, which drastically reduces texture quality. Using the methods and the protocols of trans-genesis, antifreeze proteins can be introduced into fish, yeast, vegetables, and fruits in order to give new beneficial properties to these organisms. These applications have certificated advantages that result in the production and the high quality of food. Thus, their demand is growing in the market.
Restraint: High cost of production and R&D expenditure
R&D expenses are one of the largest direct costs incurred by companies while manufacturing any product. This includes the cost for research, labor, power & utilities, and consumables. Extraction of an antifreeze protein from fish is a complex process and involves huge R&D investments. The antifreeze protein operates using a process known as thermal hysteresis, identified in Antarctic fish—lowering the freezing point of water in the hemolymph.
The cost of machines and technology used in the extraction of antifreeze proteins is significantly high, and hence a majority of the key players are carrying out these operations in collaborations with prestigious universities and research organizations that have access to such kinds of tools. Thus, bulk extraction costs spike when it comes to industrial bulk productions.
Opportunity: Emerging markets in developing regions
The rise in living standards and changes in lifestyles in developing countries contribute to the rise in demand for convenience foods, cosmetics, and vaccinations, which indirectly impact the market. Emerging markets such as Brazil, Russia, India, and China are expected to offer significant opportunities for the growth of the market.
Challenge:Limited use in food applications
There are a limited number of commercial applications for antifreeze proteins in the food industry, which limits the scope of the antifreeze proteins market. They are, however, used in the cosmetics, healthcare, and frozen foods industry. Most companies are still in the R&D phase for exploring new applications for antifreeze proteins in the food sector.
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Key players in this 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). These players in this market are focusing on increasing their presence through expansions & acquisitions. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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