The antifreeze proteins market is estimated at USD 2.7 million in 2018, and it is projected to grow at a CAGR of 30.0% from 2018 to 2023. The market is segmented on the basis of form, source, end-use, type, and region. The forms of antifreeze protein include solid and liquid. This market has also been segmented on the basis of end-use into medical, cosmetics, and food. The types studied are Type I, Type III, and antifreeze glycoprotein. It has also been segmented on the basis of source into fish, plants, and insects. On the basis of key regions, the market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW) which includes South America and the Middle East & Africa.
The worldwide demand for antifreeze protein is on the rise, particularly in the medical industry. The demand is driven by the performance quality and functionality of antifreeze proteins used in cryosurgery, organ transplants, and vaccines. Increasing demand for antifreeze proteins in the cosmetics industries is also one of the factors significantly supporting market development.
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A strong growth potential in anti-aging skin care products, advancements in technology to enhance fish farming in cooler climates, and the use of antifreeze proteins as effective chemical adjuvants in cryosurgery are driving the market.
The North American region is expected to be the fastest-growing market for antifreeze protein between 2018 and 2023. Factors such as the demand for antifreeze proteins in medical, cosmetics, and food applications, coupled with advancements in the technology used for antifreeze protein extraction are changing rapidly in the North American region.
Demand for custom-made solutions to suit new applications drives manufacturers to invest more in R&D innovation, which serves as an opportunity for the antifreeze proteins market. Companies have increased their investment in research & development to modify the formulation of existing products and meet the changing customer requirements, particularly in the cosmetics and vaccination industries.
Key participants in the antifreeze proteins market are manufacturers, antifreeze protein manufacturers, distributors & suppliers, associations & industry bodies, and end users. Unilever (Netherlands), Kaneka Corp. (Japan), Sirona Biochem (Canada), Aqua Bounty Technologies (US), and ProtoKinetix (US) are the leading players in the global antifreeze proteins market.
