Global Antifreeze Proteins Market 2019-2023 | 30% CAGR Projection over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--May 24, 2019--
The global antifreeze proteins market is expected to post a CAGR of more than 30% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global antifreeze proteins market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global antifreeze proteins market is the rising number of commercial applications. The antifreeze proteins are used in various commercial applications. In the agriculture sector, it is used to increase the freeze tolerance of crops and extend the harvest season in colder climates. Antifreeze proteins are also used to enhance the shelf life of frozen foods and maintain the quality of F&B products post-thawing. The application of antifreeze proteins is also extended for the use in cryopreservation of organs and tissues before transplant or transfusion. Thus, the wide range of commercial applications of antifreeze proteins will propel their demand during the forecast period.
As per Technavio, the technological advances in genome editing tools will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global antifreeze proteins market 2019-2023 research report also analyzes other significant trends and market drivers that will affect market growth over the forecast period.
Global antifreeze proteins market: Technological advances in genome editing tools
Genome editing technology has evolved significantly over the years with constant advances that support biological and biomedical research. The proxy-CRISPR is one of the recent instances of advances in genome editing tools, which addresses challenges of natural CRISPR systems. While CRISPR systems are derived from bacteria and need re-engineering to be used in human cells, the proxy-CRISPR provides a simple method to increase its use without the need for re-engineering. Such advances in genome editing tools will increase their adoption in biological and biomedical research in various fields, including antifreeze proteins.
“ Apart from the technological advances in genome editing tools, other factors such as the increasing number of applications in the cosmetics industry, and government initiatives to provide manufacturers with improved aquaculture infrastructure will significantly impact the growth of the antifreeze proteins market size during the forecast period,” says a senior analyst at Technavio.
Global antifreeze proteins market: Segmentation analysis
This market research report segments the global antifreeze proteins market by application (healthcare, cosmetics, F&B, and others), and geographic regions (North America, Europe, Asia, and ROW)
The North American region led the market in 2018, followed by Europe, Asia, and ROW, respectively. The antifreeze proteins market growth in North America can be attributed to the increasing availability of antifreeze proteins, high expenditure on healthcare research, and the presence of many national research institutions related to biotechnology and life sciences in the US and Canada.
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