The latest market report published by Credence Research, Inc. is “Global Antifreeze Proteins Market: Growth, Future Prospects, and Competitive Analysis, 2017 – 2030”. The Global Antifreeze Proteins Market generated revenue of around USD 6.6 million in 2022 and is projected to grow a CAGR of over 28.25% during the forecast period from 2023 to 2030 to reach around USD 37.66 million in 2030.
Antifreeze Proteins (AFPs) or Ice Structuring Proteins (ISPs) are polypeptides produced by various organisms such as fungi, bacteria, insects, and animals. These proteins have medical applications such as cryosurgery, transplantation procedures, and hypothermia therapeutics. With the increase in acute and chronic diseases, innovative therapeutic approaches are in demand, which antifreeze proteins can provide. The National Cancer Institute predicts there will be approximately 1,735,350 new cancer diagnoses in the U.S. and an estimated 609,640 deaths from the disease. Due to the diverse applications of antifreeze proteins, the market is expected to grow, especially with the critical applications of transplantation, cryosurgery, and hypothermia therapeutics. Recent investments in research and development of antifreeze proteins are also driving the market’s growth. However, the high costs associated with their research and development may impede market growth, especially in emerging markets.
The global antifreeze proteins market is bifurcated into Form, Type, End-Use, Source, and Geography. Based on the type, the market is categorized into type I, type III, antifreeze glycoprotein, and others. The global market is segmented into solid and liquid based on the form. Based on the source, the market is divided into fish and others. The market is classified into medical, food, cosmetics, and others based on the end-user. Geographically, the global market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America dominated the global antifreeze proteins market, accounting for a significant market revenue share value in 2022. The increase in demand from the food and cosmetic industry and the significant growth in developing and producing antifreeze proteins can be attributed to this region. Additionally, the U.S. fishery department has expanded the preservation capacity of salmon fish catchers and provides funding, which is expected to contribute to the market’s growth.
The antifreeze proteins market is facing some major challenges. One of the biggest challenges is the lack of awareness about these proteins and their potential benefits. Many people are still not aware of what they are and how they can be used to improve the quality of their life. This lack of awareness is a major hurdle in the way of the growth of this market.
Another challenge that the market is facing is the high cost of these proteins. They are not easily available and are quite expensive. This makes it difficult for people to afford them and thus, limits their usage. Additionally, there are concerns about the safety and efficacy of these proteins, which further discourage people from using them.
Why to Buy This Report-
- The report analyses the global antifreeze proteins market by segments, drivers, restraints, opportunities, current trends, challenges, and market dynamics from 2018 to 2021, with the base year of 2022 and a forecast period of 2023 to 2030.
- The report provides an in-depth examination of the legal and regulatory environment impacting the global antifreeze proteins market, which can assist companies in comprehending the regulatory framework and policies governing the market.
- This report comprehensively analyses the global antifreeze proteins market, with a detailed segmentation based on form, type, end-use, and source.
- Major countries in each region, with import/export figures.
- The global antifreeze proteins market report also examines key trends, significant players, market growth strategies, and key global, regional, and country application areas.
- The report includes extensive information on the global antifreeze proteins market’s key players and their company overview, product offerings, financials, and recent developments.
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