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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Key Questions Answered in the Report-
- What is the current value of revenue generated by the antifreeze protein market?
- At what rate is the demand for antifreeze protein projected to grow for the next 5–7 years?
- What is the historical market size and growth rate for the antifreeze protein market?
- What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing players and new entrants in the market?
- What are the impacts of the COVID-19 pandemic on the antifreeze protein market?
- Which segments in terms of type, form, source, and application create major traction for the manufacturers in this market?
- What are the key geographical trends in the antifreeze protein market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in this market?
- Who are the major players in the antifreeze protein market? What are their specific product offerings in this market?
- What are the recent strategic developments in the antifreeze protein market? What are the impacts of these strategic developments on this market?
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