The global Food Grade Industrial Gases Market was worth USD 5.9 billion in 2019, and it is estimated that it will reach USD 8.1 billion by 2025 at a CAGR of 6.7% during the predicted period.
Food grade industrial gases can be used as additives or technology aids in the food industry. These gases find applications in oil and gas, petrochemicals, mining, food, chemicals, and water. Consumers have switched their demand for fresh food to follow a pure diet, regardless of location and season, which is an important factor driving demand for this gas. In addition, the consumption of packaged foods such as fresh fruits and vegetables, carbonated beverages, bakery and confectionery products, frozen and dairy products, fish and seafood, and meat is increasing.
- In October 2018, Linde AG has merged with Praxair Inc to form Linde Plc. This merger will further strengthen the market position of the main players in the food grade gas market.
Market Drivers and Restraints:
The growing demand for these gases is expected to accelerate the growth of the global food grade industrial market in the near future due to the latest advances in refrigeration and packaging technology. Year-round consumer demand for fresh vegetables and food is expected to fuel the global food-grade industrial gas market. The increase in healthy food is a major driving force in the global market for food grade industrial gases. They are widely used in a variety of applications, such as extended shelf life, freezing and refrigeration, preservation and carbonation, and various beverage containers. As Modified Atmosphere Packaging (MAP) increases in importance to control the growth of microorganisms in the food and beverage industry, market demand is expected to increase in the near future. Increased aroma and texture preservation awareness and longer shelf life in the nutrition industry are expected to have a positive impact on the market during the forecast period. New regulations in the retail environment have spurred growth, allowing foreign investors and multinational retail chains to access these markets. This retail chain offers the opportunity to establish a food and beverage industry by organizing distribution in these markets. The high cost of food grade gas is one of the main recycling factors affecting the food grade gas market. Furthermore, the complexity of the gas combination can lead to a lean gas composition or a lean gas leak, affecting the quality of the final food and limiting the food grade industrial gas market.
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Report is segmented as:
The global market for food grade industrial gas is classified according to the type of oxygen, nitrogen, carbon dioxide, etc. By type of product, the world market for food grade industrial gas is divided into beverages, seafood, dairy and frozen products, bakery and confectionery, fruits and vegetables, meat and others. In addition, the global market is divided based on applications in packaging, freezing and refrigeration, and carbonated.
North America occupied the largest share in the world market for food grade industrial gas due to the increased demand for processed foods. Asia Pacific is growing at a faster rate to occupy the main markets in the region. Also, the increase in food consumption and the appearance of new technological developments have a positive effect on the global market. However, it is considered an existing market. It also opens up new growth opportunities for food grade industrial gases. China is expected to emerge as a major market for food grade industrial gases in the future.
The main players in the global food grade industrial gas market are Air Gas, Emirates Industrial Gases, Gulf Cryo, Linde Group, Messer Group, Sol-SPA, Air Liquide SA, Matheson Tri-Gas Inc., Air Products Praxair and Parker.
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Scope of the report:
The report offers a comprehensive examination of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in influencing the market dynamics and trends discussed in detail at the product level. Further, the performance of the market at the regional and country-level had assessed and the prospects with huge growth potential identified and debated.
The key players in the industry are profiled giving insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry had provided. The report also provides a broad outlook of the current market along with recommendations from industry experts on the opportunities for investment activity.
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