COVID-19 Impact on the Global Antifreeze Proteins Market and Key Driving Factors

The Antifreeze Proteins Market 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 have key applications in the frozen foods, and thus, their demands are estimated to rise in the near future.

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Antifreeze proteins control ice crystal growth brought on by thawing, which drastically reduces texture quality. Using the methods and the protocols of trans-genesis, antifreeze proteins can be introduced into fish, yeast, vegetables, and fruits in order to give new beneficial properties to these organisms. These applications have certificated advantages that result in the production and the high quality of food. Thus, their demand is growing in the market.

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.

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The antifreeze proteins market is dominated by few globally established players such as Nichirei Corporation. (Japan), Kaneka Corporation (Japan), A/F Protein Inc. (US), Sirona Biochem (Canada), Unilever (Netherlands), and ProtoKinetix, Inc. (US). These players have adopted growth strategies such as expansions and aquisitions to increase their presence in the global market.