The global food-grade gases market is estimated to be valued at USD 5.9 billion in 2018 and is projected to reach USD 8.1 billion by 2023, at a CAGR of 6.7% from 2018 to 2023. The growing demand for convenience food products and carbonated beverages have significantly fueled the market for food-grade gases. Further, with the introduction of new products in the food industry and advancements in packaging technologies, there has been a growing need for food-grade gases for various end-uses.
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Increasing demand from developing economies such as India and China will provide growth opportunity.
Significant opportunities for the food-grade gases market are present in developing economies such as China, India, and Latin American countries. A major factor fueling the demand for food-grade gases is the increasing consumer demand for chilled and frozen foods, which are becoming popular with the younger generation in emerging economies. The rise in middle-class population, rapid urbanization, increased spending power, and the increase in the number of working women have also spurred the demand for chilled & frozen foods. Food & beverage manufacturers are tapping into these markets due to the growing demand for processed foods, propelled by changing lifestyles of consumers who prefer convenience foods, availability of abundant raw material, cheap labor, governmental support to set up processing units for SMEs, and lower tariff duty. This growth is also fueled by new legislation in the retail environment, which gives foreign investors and multinational retail chains access to these markets. These retail chains have organized distribution across these markets, which provides opportunities for setting up food & beverage industries here. The rising importance given to food safety and quality of processed foods by the governments in these countries has increased the need to prevent the deterioration of food with the use of proper packaging technology and investment in refrigerated storage facilities.
The beverages segment, by end-use, is estimated to witness the fastest growth in the food grade gases market in 2018
By end-use, the food-grade gases market is segmented into meat, poultry, and seafood products; dairy & frozen products; beverages; fruits & vegetables; convenience food products; bakery & confectionery products; and others. The beverages segment is estimated to grow at the highest CAGR due to the use of large volumes of food-grade gases, especially carbon dioxide and nitrogen, for carbonation and blanketing. As the demand for carbonated beverages increases, there is a simultaneous growth in the market for food-grade gases.
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North America is estimated to dominate the food grade gases market, in terms of value, in 2018
The microbrewery culture is also on the rise in the North American market. There are multiple microbreweries present in the region. These microbreweries require carbon dioxide for beer dispensing. Also, the North American soft drinks market is one of the largest, with the presence of all the big brands such as Coca-Cola and PepsiCo. The soft drinks industry is one of the largest users of food-grade carbon dioxide for the carbonation of beverages.
The large beverage industry and rising trends of microbreweries create a huge demand for carbon dioxide in the North American region, with the US being the largest and fastest growing market. Also, because of the presence of highly organized retail chains and cold chain infrastructure, the North American market holds the largest market share in the food-grade gases market.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies. It includes the profiles of leading companies such as The Linde Group (Germany), Air Products & Chemicals (US), Air Liquide (France), The Messer Group (Germany), Taiyo Nippon Sanso (Japan), Wesfarmers Ltd. (Australia), SOL Group (Italy), Gulf Cryo (Kuwait), Air Water, Inc. (Japan), Massy Group (Caribbean), PT Aneka Industri (Indonesia), and The Tyczka Group (Germany)
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