The antifreeze proteins market is projected to grow at a CAGR of 30.0% from USD 2.7 million in 2018 to reach a value of USD 10.0 million by 2023.
[USPRwire, Fri Oct 05 2018] The report "Antifreeze Proteins Market by Source (Fish, Plants, and Insects), End Use (Medical, Cosmetics, and Food), Type (Type I, Type III, and Antifreeze Glycoproteins), Form (Liquid and Solid), and Region - Global Forecast to 2023", The antifreeze proteins market is estimated at USD 2.7 million in 2018 projected to reach a value of USD 10.0 million by 2023, at a CAGR of 30.0% from 2018. The market is driven by the benefits associated with antifreeze protein in medical applications such as cryosurgery, organ transplant, and vaccinations, advancements in technology to enhance extraction of antifreeze proteins from fish in cooler climates, and use of antifreeze proteins as ingredients in cosmetics and food products such as ice creams.
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The fish source segment is estimated to account for the largest share in the antifreeze proteins market in 2018
Fish antifreeze proteins are widely preferred sources in applications such vaccinations, organ transplants, cosmetics such as antiaging creams, and food products such as ice creams and frozen desserts. These are used on a large scale in the North American region, where there is extensive production of antifreeze protein for use in medical applications.
The solid form segment is estimated to account for the largest share in the antifreeze protein market in 2018
Solid antifreeze proteins, mostly in the powdered form, are use in frozen food products, cosmetics and medical applications, and offer ease of transportation and storability before use. In addition, the solid form antifreeze protein provides a longer shelf life over liquid form antifreeze protein solutions, which makes this product most preferred for frozen food applications.
The medical application segment is estimated to account for the largest share in the antifreeze protein market in 2018
The medical application segment is expected to dominate this market through the forecast period.
The dominance of this segment can be attributed to increasing R&D investments from medical and biotechnology companies and ongoing research for vaccinations, organ transplant and cryosurgery. The use of antifreeze protein for medical industry helps manufacturers due to the natural source and quality of the product.
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The type I segment is estimated to account for the largest share in the antifreeze protein market in 2018
The type I segment is expected to dominate the market for antifreeze protein by type. Type I AFP is most abundantly found in cold climate fish and is the most widely used type of AFPs in medical and cosmetics applications as it is easier to extract in notable quantities from fishes.
North America is estimated to dominate the antifreeze protein market in 2018
The North American region is estimated to form the largest market for antifreeze protein in 2018. North American consumers are considered to be more health-conscious and increasingly pay close attention to the products used in the food products and medicine they consume. This high level of awareness has resulted in the demand for natural products in the region. These are the major factors driving the market in the Europe region.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as AF Protein (Aqua Bounty Technologies), Sirona Biochem, Unilever, Kaneka Corp., and ProtoKinetix.
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