The global Food-Grade Gases Market size is expected to reach USD 11,525.4 Million in 2030 and register a revenue CAGR of 5.8% over the forecast period, according to the latest report by Reports and Data. Rise in demand for packaging technologies such as modified atmospheric packaging and chilling & freezing by food & beverage manufacturers is a key factor expected to drive global food-grade gases market revenue growth over the forecast period. Food-grade gases are used to ensure compliance with requirements during the production stage of food preparation. During the preparation of food, food-grade gases are utilized as an additive or a processing aid. Food-grade gases are largely utilized in the food and beverage industries for packing, freezing, and carbonation of bakery, dairy, meat, fruit, and other items. These gases can be utilized individually or in certain mixtures. Carbon dioxide, nitrogen, and oxygen are examples of food-grade gases.
Market Overview:
The food and beverage industry is involved in transforming raw food materials into consumer food products. The sector includes groceries, oils and fats, food additives, functional foods and beverages, canned food, packaged foods, health and natural foods, baby food, animal food, syrup, baked food, soft drinks, alcoholic and non-alcoholic drinks, energy drinks, and packaging. The companies in this industry are looking for innovations in food that meet the changing consumer’s preferences in terms of global flavors, and varieties. The touchless transactions, open kitchen concept, ghost kitchens and e-commerce trends (especially during Covid 19) are reshaping the food and beverage sector.
Competitive Landscape:
The global Food Grade Gases market research report provides a competitive strategy analysis portfolio to provide a better understanding of the competitive landscape. The study gives a 360-degree view on business policies, company profiles, price, cost, revenue, and business contracts. Furthermore, it offers massive data relating to recent trends, technological advancements, tools, and methodologies.
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Key Players:
Companies profiled in the market report are Air Products Inc., Inc, Air Liquide S.A., Messer Group GmbH, Taiyo Nippon Sanso Corporation, Wesfarmers Limited, SOL Group, Gulf Cryo, Air Water, Inc., National Gases Limited, and Les Gaz Industriels Ltd.
Some Key Highlights From the Report:
- Carbon dioxide (CO2) segment is expected to register a considerable revenue growth rate during the forecast period. Carbon dioxide is utilized for refrigeration and cooling in both solid (dry ice) and liquid forms. It is widely used for carbonation in beers, soft drinks, and other alcoholic drinks. The gas can be used to preserve wine, grape juice, and other juices. Modified Atmosphere Packaging (MAP) also uses carbon dioxide, which is injected and removed repeatedly to remove oxygen from the package. Carbon dioxide demand is expected to remain the highest in the food-grade gases market due to advancements in packaging technology. Major companies are spending more on packaging technologies like cryogenics and Individual Quick Freezing (IQF), which extends the shelf life of dairy products, preserves the taste and texture of food, and reduce the need for natural and chemical preservatives in food and beverages.
- Bulk segment is expected to account for largest revenue share in the food-grade gases market over the forecast period due to safe transportation, ease of handling, and convenient storage options. It also aids in cost reduction of the final product. Large food and beverage manufacturers typically prefer bulk supplies because of the ease of handling and storage it provides.
- Freezing & chilling segment is expected to register a significant revenue growth rate during the forecast period. The food industry's main challenges are preventing microbial deterioration and extending product shelf life. One of the most effective ways to combat these microbes is by freezing & chilling the products. The growth of microorganisms slows considerably when the temperature falls below the freezing point. Many enzymatic processes are slowed by freezing and making food products more shelf-stable.
- Market in North America is expected to register the highest revenue share in global food-grade gases market during the forecast period. Market revenue growth is being fueled by factors such as rising demand for vegetables, meat, and seafood in the region. Moreover, favorable government incentives and policies linked to food and beverage export and import are expected to continue to assist market growth over the forecast period. The presence of highly-organized cold chain infrastructure and food & beverage retail industry in this region, combined with high demand and consumption of frozen products, is expected to contribute to the revenue growth of the food-grade gases market in this region.
- In July 2020, Air Products & Chemicals announced the opening of its new industrial gases plant in Louisiana in Onstream and supply to Huntsman Corporation’s (US) neighboring industrial operations. The facility is projected to offer increased reliability and sustainability, with enhanced energy efficiency and reduced emissions.
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Market Segmentation:
For the purpose of this report, Reports and Data has segmented global food-grade gases market based on product type, supply type, application, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2019-2030)
- Carbon dioxide (CO2)
- Nitrogen
- Oxygen
- Others
Supply Type Outlook (Revenue, USD Million; 2019-2030)
- Bulk
- Cylinder
Application Outlook (Revenue, USD Million; 2019-2030)
- Freezing & Chilling
- Packaging
- Carbonation
- Others
End-Use Outlook (Revenue, USD Million; 2019-2030)
- Beverages
- Meat, Poultry & Seafood Products
- Dairy & Frozen Products
- Fruits & Vegetables
- Others
Regional Outlook (Revenue, USD Million; 2019-2030)
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
Key Questions Answered In The Report:
- What will be the market size and growth rate in the forecast year?
- What are the key factors driving the global Food Grade Gases market?
- What are the risks and challenges in front of the market?
- Who are the key players in the global Food Grade Gases market?
- What are the trending factors influencing the market shares?
- What are the key outcomes of Porter’s five forces model?
- Which are the global opportunities for expanding the global Food Grade Gases market?
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