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%.
Type I antifreeze proteins are the primary driver of market demand, as they are easy to identify in DNA sequences and are available in larger quantities. The rising popularity of various cosmetics and medicinal products has further fueled the demand for these proteins. Additionally, the use of AFPs in preventing ice crystal formation in frozen foods has increased their adoption in the food industry, especially in the production of frozen meat, ice cream products, and skin-whitening creams.
The solid form of antifreeze proteins is gaining popularity due to its longer shelf life compared to the liquid form. It is widely preferred in various food applications, such as frozen foods, ice creams, and frozen fish and meats, as it is easily available from different sources and is convenient to store and use, contributing to reduced production costs.
The growing trend of frozen food consumption has led to an increased demand for antifreeze proteins in the food sector. With the global population estimated to reach 9 billion by 2050, there is a rising need for AFPs to prevent ice crystal formation in frozen foods. This has opened up opportunities for food producers to enter the market and introduce innovative products.
The market for antifreeze proteins from fish sources holds the highest share due to the ease of extraction and application. However, the high cost of fish-based extraction is encouraging manufacturers to explore other sources for AFPs.
Key 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).
