Reports and Data's latest report forecasts that the global food-grade gases market will achieve a revenue of USD 11,525.4 Million by 2030, with a compound annual growth rate of 5.8% during the forecast period. The report attributes this growth to the increasing demand for packaging technologies like modified atmospheric packaging and chilling freezing from the food and beverage industry. Food-grade gases play a vital role in ensuring compliance with food preparation regulations and are utilized as an additive or processing aid during food production. The food and beverage industries widely use food-grade gases for packaging, freezing, and carbonation of bakery, dairy, meat, fruit, and other products. These gases can be used individually or in various combinations, with carbon dioxide, nitrogen, and oxygen being some examples of food-grade gases.
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Top Companies Operating in the Global Food Grade Gases Market Report:
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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The global Food Grade Gases market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
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
- Convenience Food Products
- Bakery Confectionery Products
- Others
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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