COVID-19 Impact on the Global Antifreeze Proteins Market
The market for antifreeze proteins (AFPs) is estimated at USD 4 million in 2020; it is projected to grow at a CAGR of 36.3% to reach USD 27 million by 2026. Antifreeze proteins inhibit ice growth and prevent recrystallization, hence averting tissue damage. Presently, antifreeze proteins have shown a lot of potential in commercial applications.
The food industry is a significant sector where antifreeze proteins can be applied. Using the methods and the protocols of transgenesis, antifreeze proteins can be introduced into a variety of organisms and plants in order to enhance their resistance to cold. Antifreeze proteins function in two ways by lowering the freezing point of water as well as preventing the growth of ice crystals and recrystallization during frozen storage. These proteins are required in relatively small amounts to exhibit their functional activity, which suggests AFPs as possible additives for foods in the future.
COVID-19 Impact on the Global Antifreeze Proteins Market
Food supplies, especially fruits and vegetables, operate through complex supply chains globally due to their perishability. The spread of the COVID-19 pandemic has far-reaching implications on the fruit and vegetable trade. There were efforts being taken for ensuring the stability and continuity of supply at points of sales; however, there were new costs and obstacles to deal with.
These new costs were due to factors such as the social distancing measures causing inefficiency in operations at the orchards and packhouses, increasing logistical costs due to trucks returning empty to their bases, additional safety measures, and delays. There were also market pressures and product losses. Thus, there is a rising need for efficient storage mechanisms at the crucial trade ports and markets to ensure the safety of fruits and vegetables so as to maintain a smooth supply to the retail markets.
In North American region, the demand for reduced-sugar ice creams and frozen dairy desserts is constantly rising. The use of antifreeze proteins helps improve the texture of ice cream products by inhibiting the ice recrystallization and by inhibiting the formation of large ice crystals and naturally can be used for low fat and low sugar frozen desserts. The has strongly established market for food sector and also giant players have their key subsidiaries and headquarters in the region which strengthens the market.
Key players in this 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). These players in this market are focusing on increasing their presence through expansions & acquisitions. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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