Agricultural Sprayers Market to Showcase Continued Growth in the Coming Years

The global agricultural sprayers market is estimated at USD 2.5 billion in 2022. It is projected to reach USD 3.5 billion by 2027, recording a CAGR of 6.8% during the forecast period. Due to significant advancements in farming and spraying technology, the market for agricultural sprayers is growing. Sprayers are becoming more common in developing economies like China, Russia, and Brazil for crop protection. Farm operators now depend on sprayers to apply insecticides, herbicides, and fertilizers in the field pre and post-harvest as needed. Farmers can apply chemicals more precisely and efficiently due to the technological developments in agricultural sprayers.

 

 

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The Agricultural sprayers market consists of a few globally established players such as John Deere (US), CNH Industrial NV (UK), Kubota Corporation (Japan), Mahindra & Mahindra Ltd (India), STIHL AG (Germany), AGCO Corporation (US), YAMAHA Motor Corporation (Japan), Bucher Industries AG (Switzerland), DJI (China), Exel Industries (France), Amazonen Werke (Germany), B group Spa (Italy), Case IH (US), HD Hudson Manufacturing Co (US), and Buhler Industries Inc (Canada). Strategic partnerships were the dominant strategy adopted by the key players, followed by expansions and new product launches. These strategies have helped them to increase their presence in different regions and industrial segments.

 

John Deere is one of the leaders in the field of agricultural products since the introduction of automatic guidance equipment and yield monitors in the late 1990s. It manufactures equipment for agricultural, construction, turf, and forestry industries. The company’s financial services, machinery parts services, power systems, and the intelligent solution group businesses support and differentiate its equipment business. The agricultural product portfolio of the company consists of tractors, sprayers, mowers, loaders, shredders & cutters, scrapers, and precision agricultural technology. Agricultural variable-rate technology is offered as a part of the precision agriculture segment. The main subsidiaries of the company are Gan-Gvat Assets Ltd. (Israel), John Deere GmbH (Germany), Jenco Wholesale Nurseries Inc. (US), John Deere S.A. (Mexico), and John Deere Agricultural Machinery Co. Ltd. (China). The majority of John Deere’s business is concentrated in the North American countries of the US and Canada. Europe, Russia, India, Brazil, and China are the other key markets of the company.

 

CNH Industrial NV is among the global leaders in the manufacturing, designing, marketing, selling, and funding of farm machineries across the globe. The company has 12 brands that cater to agricultural and construction industries. The company has presence around 180 plus countries across the globe alongwith 49 research and development centers, and 64 manufacturing facilities. CNH Industrial NV specializes in offering speciality vehicles for firefighting, as well as defense. The agricultural equipment segment of CNH industrial offers farm machinery and tools such as self-propelled sprayers, material handling equipment, two-wheel and four-wheel drive tractors, harvesters, planting & seeding equipment, hay & forage equipment, and soil preparation & cultivation implements. This equipment is marketed and manufactured under the New Holland Agriculture brands, Case IH Agriculture, and Steyr brands. As far as agricultural sprayer is conserved, it is marketed under the banner of Case IH Agriculture.

 

Kubota Corporation is a global manufacturing company specializing in farm & industrial machinery and water & environment products, with a corporate presence in more than 100 countries. The company has segmented its product line as follows: agriculture, water, and lifestyle. The agriculture unit of the company manufactures tractors, harvesters & transplanters, mowers, balers, cultivation, spreading, and seeding equipment, and other agricultural machinery & implements. The company serves its agricultural sprayers through its acquired company, Kverneland Group, with the Kverneland brand name. This company was acquired in May 2012. Kubota Corporation’s plants, factories, and business centers are majorly located in Japan. The company has a wide geographical coverage through group companies located in North America, Asia & Oceania, and Europe. Kubota Tractor Corporation (US), Great Plains Manufacturing, Inc. (US), Kubota Canada Ltd. (Canada), Kubota Korea Co., Ltd. (South Korea), Kubota China Holdings Co., Ltd. (China), and Kubota Europe S.A.S. (France) are some of the subsidiaries of Kubota Corporation.

 

Mahindra & Mahindra Ltd. is engaged in the business of farm equipment and automotive. It is one of the leading players in the manufacturing and marketing of tractors, utility vehicles personal & commercial vehicles, application, and light trucks, among others. The company has a strong presence in agribusiness, components, aerospace, consulting services, energy, and industrial equipment. The company’s farm equipment and agri-business are the largest contributors to the Mahindra Group, which includes 27 businesses, 18 subsidiaries, and nine companies. Other than the equipment segment, it is also engaged in an end-to-end agriculture value chain by providing fertilization, irrigation, seeds, and varied agriculture, and allied businesses.

 

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India, Australia, Japan, and other nations in the Asia-Pacific region are traditional agricultural countries. Traditional agriculture relied primarily on human labor and draught animals. The majority of modern agricultural operations depends on machinery, particularly fast, potent tractors, combines, and implements. Tractors with mounted and trailed implements such as sprayers allow the mechanization of many agricultural operations. Due to the increasing average farm size, larger, more upgraded sprayers are being used to meet farm needs rather than older, less efficient ones. This will drive market growth in the Asia-Pacific region during the forecasted period.

Textured Vegetable Protein Market to Showcase Continued Growth in the Coming Years

The global textured vegetable protein market is estimated to be valued at USD 1.4 billion in 2022. It is projected to reach USD 1.9 billion by 2027, recording a CAGR of 6.9% during the forecast period. The textured vegetable protein market is witnessing significant growth in the current market scenario for alternative proteins. The changing consumer preference and interest in vegetable protein sources due to its nutritional profile, inclination toward clean eating, rise in health and environmental concerns, and animal welfare have led to the growth of plant-based meat and ingredients, which include textured vegetable proteins obtained from soy, wheat, and pea.

 

 

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The key players in this market include ADM (US), Roquette Frères (France), Ingredion (US), DuPont (US), The Scoular Company (US), Beneo (Germany), Cargill, Incorporated (US), MGP (US), Shandong Yuxin Biotechnology Co. Ltd. (China), Axiom Foods, Inc., (US), PURIS (US), Kansas Protein Foods (US), and DSM (Netherlands).

 

ADM is one of the global leaders in the nutrition segment. The company has pioneered textured vegetable protein innovation for over 75 years and accounts for one of the largest soybean processors in the world. The company operates through four major business segments: Ag service and oil seeds, carbohydrate solutions, nutrition, and other business. It offers textured vegetable protein under the nutrition segment, mainly used in food applications, such as alternate meat products, snacks, stew, and dairy alternatives. ADM is among the key innovators in the texturized vegetable protein market, pioneering in developing textured soy protein using defatted soy flour.

 

ADM operates through processing and manufacturing facilities across the US and worldwide. It competes with the world’s leading textured vegetable protein manufacturers, such as Ingredion (US) and Cargill, Incorporated (US). ADM operates through processing and manufacturing facilities across the US and worldwide. Its network spans more than 200 countries. In September 2020 ADM launched Arcon T textured pea proteins, Prolite MeatTEX textured wheat protein. These highly functional protein solutions improve the texture and density of meat alternatives. Hence, by expanding its product portfolio company can cater demand of meat-like texture protein.

 

Cargill, Incorporated is a global conglomerate catering to the demand in various industries. The company comprises 75 businesses classified into four key segments: agriculture, food, financial services, and industrial products. It offers its plant protein products under its food segment to meet the demand for food ingredients. The company has been primarily focusing on accelerating growth in markets, such as global protein, specialty ingredients, and health & nutrition products, due to the rising demand among consumers. It has been focusing on providing similar flavor and textured substitutes for conventional food products and innovations in textured vegetable protein.

 

The company operates in around 70 countries. It has an additional sales presence in nearly 125 countries across North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa. In May 2022 Cargill constructed a new soybean processing plant in Southeast Missouri. This development will help the company meet the expanding domestic and global demand for oilseeds, which is being driven by the food, feed, and fuel markets.

 

Roquette Frères is a privately held company that produces and markets food ingredients. It processes raw materials, such as corn, wheat, potatoes, and peas, into various ingredients for different food and non-food applications. Roquette Frères’ products find applications as ingredients in the food, pharmaceutical, paper, corrugated board, fermentation, chemistry, and industrial applications. The products offered by the company can be broadly divided into starch-based products, sugars & dietary fibers, polyols & fine chemistry products, proteins & their derivatives, fibers, oils & soluble products, cereal sugars, beta cyclodextrins, and bioethanol. The company provides textured vegetable proteins under its human food & nutrition segment. NUTRALYS textured vegetable protein, which is derived from various sources, such as pea, wheat, finds applications in dairy and meat alternatives and performance nutrition.

 

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The North American region hosts a substantial production base for textured vegetable protein processing. Major ingredient manufacturers, such as DuPont (US), ADM (US), Cargill (US), and CHS (US), have been bolstering their product development capabilities to offer meat alternatives as per the changing consumer preferences in the region. Canada has been the largest producer of peas for textured pea protein processing with the presence of multiple existing and upcoming processing units in Manitoba. According to a study published by the Government of Canada in 2019, Canada estimates a surge of 30% in pea production up to 4.7 MT by 2020 in the region. On the other hand, the US is a key producer of soybeans and wheat in the region.

Glucose, Dextrose, and Maltodextrin Market Growth by Emerging Trends, Analysis, & Forecast

The glucose, dextrose, and maltodextrin market is projected to reach USD 51.87 billion by 2024, at a CAGR of 7.0% from 2018, in terms of value. The market for glucose, dextrose, and maltodextrin is driven by the increase in demand from the beverage industry, intense research & development activities, and an increase in demand for convenience foods. The demand for glucose, dextrose, and maltodextrin in the food & beverages segment, is expected to witness significant growth in the near future, as major food & beverage companies are expected to increase the application of glucose, dextrose, and maltodextrin due to their multiple benefits, including their role as sweeteners, binders, emulsifiers, and thickening agents. However, growth in demand for gums as an alternative to glucose, dextrose, and maltodextrin restrains the market growth.

 

 

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Starch derivatives are produced by enzymatically, physically, and organically altering the characteristics of native starch. Glucose, dextrose, and maltodextrin are among the major starch derivatives used. Glucose is a sweetener used in a range of food products. It is produced from the hydrolysis of starch. Dextrose is a dextrorotatory form of glucose. It is used in baking products such as cake blends and toppings, snack food items such as cookies, and desserts such as custards and sherbets. Maltodextrin is a moderately sweet or flavorless sugar, which is easily digestible, and is absorbed as rapidly as glucose.

 

They perform numerous functions and hence find application in various industries. They act as thickening agents and stabilizers in the food & beverage industry. They act as key ingredients in the pharmaceutical industry by performing the function of a binder in the production of tablets. These are also used as emulsifiers in the personal care & cosmetics industry.

 

The glucose, dextrose, and maltodextrin market include players such as ADM (US), Ingredion (US), AGRANA (Austria), Tate & Lyle (UK), Cargill (US), ROQUETTE (France), Grain Processing Corporation (US), Avebe Group (Netherlands), Tereos (France), Global Sweeteners Holdings (Hong Kong), Gulshan Polyols (India), and Fooding Group Limited (China).

 

The market is concentrated with key players adopting expansions & investments, new product launches, acquisitions, and joint ventures, partnerships, and agreements with other players to strengthen their business, explore new & untapped markets, expand in local areas of emerging markets, and develop a new customer base for long-term client relationships.

 

Cargill manufactures and markets food, agricultural, financial, and industrial products & services. The company’s key business segments include animal nutrition & protein, food ingredients & applications, origination & processing, and industrial & financial services. It offers nutrition expertise and feeding solutions to help optimize animal production operations. It also offers numerous functional food ingredients and starch derivatives majorly to the food & beverages and personal care industries. Its core competencies lie in supply chain management, risk management, and research & development.

 

The company has subsidiaries in 70 countries. It has R&D centers in Europe and North America, and provides services in Africa, Europe, Asia, South America, North America, and the Middle East; this enables it to have a significant global market presence.

Cargill’s strategy is directed toward becoming a key supplier in the global starch market through expansions. In line with this strategy, the company focuses on bringing new innovations to its starch product portfolio as well as the expansion of its production scale and geographic operations in high-growth markets through acquisitions. In October 2017, launched functional native starches under its new SimPure brand to meet the demand of its customers for label-friendly products of favorable taste and texture.

 

Archer Daniels Midland Company (ADM) is primarily engaged in the production of food ingredients, animal feed & feed ingredients, biofuels, and naturally derived alternatives to industrial chemicals. The company functions through four segments, namely, oilseed processing, corn processing, WILD Flavors & Specialty Ingredients, and agricultural services. It is a leading manufacturer of protein meal, vegetable oil, corn sweeteners, flour, biodiesel, ethanol, and other value-added food & feed ingredients. The corn processing segment is engaged in corn wet milling and dry milling activities, converting corn into sweeteners, starches, and bio-products. The sweeteners and starch category comprise corn syrups, dextrose, and maltodextrin required in food. ADM has its presence in North America, Europe, the Middle East, Africa, and Asia Pacific, which contributes to its core competency of having a global infrastructure.

 

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The key strategy adopted by ADM is innovation, through which merges its business with other food processing companies and expands its business geographically in the starch industry. For instance, in March 2018, the company entered into an agreement to acquire a 50% equity stake in the sweeteners and starches business of Aston Foods (Russia), to expand its food & beverage segment in Russia.

Agricultural Testing Market to Showcase Continued Growth in the Coming Years

The global agricultural testing market, is estimated to be valued at USD 4.56 billion in 2017 and is projected to reach USD 6.29 billion by 2022, at a CAGR of 6.64%. The market is driven by stringent safety and quality regulations for agricultural commodities, and rapid industrialization leading to the disposal of untreated industrial waste into the environment.

 

 

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Key players in the agricultural testing market include SGS (Switzerland), Intertek (UK), Eurofins (Luxembourg), Bureau Veritas (France), ALS Limited (Australia), and TÜV NORD GROUP (Germany). Furthermore, Mérieux (US), AsureQuality (New Zealand), RJ Hill Laboratories (New Zealand), SCS Global (US), Agrifood Technology (Australia), and Apal Agricultural Laboratory (Australia) are the other players that hold a significant share in the agricultural testing market.

 

SGS is one of the active players in the agricultural testing market; it is involved in inspection, verification, testing, certification, and quality assurance services. The company has a range of agricultural testing offerings for various samples such as soil, water, and seed. It has R&D centers and adopts new techniques as per technology advancements. The company has become a renowned brand in the industry for its quality and client base. It focuses on strategic acquisitions and expansions to increase its capacity and strengthen its business network.

 

Eurofins Scientific is an international group of laboratories that provide testing and support services to the pharmaceutical, food, agricultural, environmental, and consumer products industries, as well as to governments. Its strong infrastructure helps it cope during peak periods of testing demand from clients. The major strengths of the company are its widespread global network and its testing services of superior technical quality and regulatory thoroughness. The company continues to generate significant growth by way of constant acquisitions. In January 2018, Eurofins acquired Tsing Hua Testing & Analysis Co., Ltd. (Vietnam), a leading player in environmental and agricultural testing market for water and soil. With this acquisition, the company expanded its reach in Vietnam.

 

Intertek is a provider of quality and safety services. It serves manufacturers, retailers, governments, and traders across various industries, globally. The company has a global network of over 1,000 laboratories, including 20 high-tech food testing laboratories in Germany, Great Britain, and Shanghai, and testing facilities in Beijing, India, Vietnam, and the Philippines. It focuses on expansions as its key strategy to develop networks. In November 2017, Intertek expanded its agricultural testing laboratory in New Orleans (US) and upgraded its equipment in order to enhance its agricultural testing services in the US.

 

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Europe accounted for the largest market share in the agricultural testing market. The dominant share of this region is attributed to the stringency in food safety, environmental, and agricultural regulations and laws pertaining to the nutritional content, chemicals, and labeling. Europe also has the highest number of testing laboratories among all regions. The Asia Pacific market is projected to grow at the highest CAGR from 2017 to 2022 and is driven by China, Japan, India, and Australia; this growth can be attributed to the increase in awareness about food safety norms and implementation of regulations for their testing in these countries.

Grain Silos and Storage System Market to Witness Unprecedented Growth in Coming Years

The grain silos and storage systems market is estimated to be valued at USD 1.3 billion in 2020 and is projected to reach USD 1.6 billion by 2025, recording a CAGR of 4.8% during the forecast period. The growth of the grain silos and storage system market is driven by factors such as the increase in production of high-quality grains through effective storing, and efficient post-harvest management of grains to drive the market growth.

 

 

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The key manufacturers in the grain silos and storage system market include AGCO Corporation (US), AGI (Canada), Silos Córdoba (Spain), PRADO SILOS (Spain), and Symaga (Spain) are some of the key service providers across the globe. Expansions and agreements, partnerships, and collaborations were some of the core strengths of the leading players in the grain silos and storage system market. These strategies were adopted by the key players to increase their market presence. It also helped them diversify their businesses geographically, strengthen their distribution networks, and enhance their product portfolios.

 

AGCO Corporation is a global leader in the design, manufacture, and distribution of agricultural equipment. It is the largest manufacturer of steel farm bins and commercial grain storage bins. It provides these products through its brands; GSI and Cimbria. The company has presence across all the continents.

 

Founded in 1947 in Denmark, Cimbria (a subsidiary of AGCO) develops, manufactures, supplies, and installs equipment and plants for handling, storage, sizing, treatment of grain and seed products, in addition to control and automation systems. It is backed by 900 employees. The company has production facilities in Denmark, Austria, Italy, and the Czech Republic. It has subsidiaries in 18 countries and has agents spread across 45 countries. It provides square silos used for the storage of a wide variety of grains. The company was acquired by AGCO in 2016.

Founded in 1972, GSI is the world's largest manufacturer of steel farm bins, commercial storage grain bins, and grain silos, with presence in over 70 countries. It has been operating as a subsidiary of AGCO since 2011.

 

AGI is a global leader in the manufacturing of grain, feed, and fertilizer handling, storage, and conditioning equipment, including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment, grain drying systems, and fertilizer handling and storage systems. The company operates across five platforms — seed, fertilizer, grain, feed, and food. It is backed by over 35 brands that are among the most recognized equipment manufacturers in the global agriculture industry. Of these 35 brands, AGI Brasil, FRAME, MFS, SABE, Twister, and Westeel are involved in the manufacturing of grain silo and grain bins. AGI has manufacturing facilities in Canada, the US, Brazil, and Italy and distributes its products globally.

 

AGI Brasil (Brazil) is a leading manufacturer of grain storage, handling, and conditioning equipment, including grain bins, bucket elevators, dryers, and cleaners.

 

Silos Córdoba is a leading manufacturer of steel silos for grain storage. The company offers flat silos, hopper silos, truck load silos, and farm silos. The flat silos and hopper silos are used for storing all types of grains, seeds, and legumes, while the farm silos are used for storage of animal feed in livestock, poultry, and swine farms. Truck load silos are used for storage and later dispatch of bulk products such as granulates and flour. It has presence in over 50 countries.

 

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The market for grain silos & storage system is projected to grow at the highest CAGR in the Asia Pacific. With the presence of densely populated countries, such as China and India, the Asia Pacific region is projected to be one of the key markets for grain silos and storage system. The region’s increasing population and rising income levels are factors that are projected to drive the demand for food and agricultural commodities in the coming years. On the other hand, the region has limited arable land, inadequate water, low farm yields, and increased soil degradation conditions due to urbanization. China and India are ranked first and second, in terms of rice and wheat production, at the global level.

Nutraceutical Excipients Market to Showcase Continued Growth in the Coming Years

The global nutraceutical excipients market size is estimated to account for nearly USD 3.4 billion in 2020 and projected to grow at a CAGR of 7.3%, to reach nearly USD 4.9 billion by 2025. The market for nutraceutical excipients is been witnessing rise in demand, owing to the increase in consumption of nutraceutical in the global market. Consumers in the global market are increasingly preferring dietary supplements and fortified food & beverage products as a part of their daily dietary lifestyles. This gives immense opportunities for growth of nutraceutical excipients, which are largely used binding, coating, filling, coloring, flavoring, disintegrating, and lubricating agent. It is an inactive ingredient that is added along with the active nutraceutical ingredients in the product formulation. Furthermore, developed countries such as the US is already witnessing an upshift in the demand, however, the growth potential for nutraceutical excipients is growing at an exponentially high rate in the Asia Pacific and European countries.

 

 

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Nutraceutical excipients are non-active nutraceutical ingredients that are included in the production of nutraceutical formulations. Excipients are also used to enhance the therapeutic effects of active ingredients in the final dose. Nutraceutical active ingredients are biologically functional molecules or components, which affect the nutritional uptake, balance, and health of a human body, and that mostly aims to supplement the nutritional profile provided by staple foods. Moreover, excipients are essential for the timely and precise delivery of nutraceutical components. In addition, maintaining optimum levels of active ingredients in the nutraceutical products, such as vitamins and minerals, is a key function of excipients.

 

The key players in this market include DuPont (US), BASF SE (Germany), Kerry Group PLC (Ireland), Ingredion Plc (US), Sensient Technologies (US), Associated British Foods (UK), Roquette Freres (France), Meggle Group Wasser (Germany), Cargill Inc (US), Ashland Global Holdings Inc (US), Seppic (France), Shin-Etsu Chemical Co Ltd (Japan), Fuji Chemical Industries Co Ltd (Japan), Pharmatrans Sanaq AG (Switzerland), Pioma Chemicals (India), Gattefosse (India), W.R.Grace & Co (US), Omya (Switzerland), Grain Processing Corp (US), and Gangwal Chemicals Pvt Ltd (India). The key market players, along with the other players, adopted various business strategies such as new product launches, expansions, and joint ventures & agreements, in the last few years, to meet the growing demand for nutraceutical excipients.

 

Major players in the market are mainly focusing on undertaking expansions for developing research centers to meet the growing requirements of the end-industry manufacturers by formulating innovative products/solutions. The core strengths of the key players identified in this market are growth strategies such as expansions & investments and mergers & acquisitions. The undertaking of mergers & acquisitions as a key growth strategy has enabled the market players to enhance their presence in the nutraceutical excipient market. The key players, such as DuPont (US), Ingredion Plc (US), Roquette Freres (France), and few others have undertaken these strategies to improve their distribution network, gain a stronger foothold, and enhance market share. For example, DuPont inaugurated a new facility in Oegstgeest, the Netherlands. This development will benefit the company in expanding its research capabilities for its nutrition and bioscience segment along with specifically strengthening its position in Europe, the Middle East, and Africa regions.

 

Cargill Incorporated (US), is involved in the manufacturing and marketing of food ingredients, agricultural products, risk management & financial services, and industrial products around the globe. The company’s key business segments include animal nutrition, food & beverage, bio-industrial, food service, agriculture, risk management, meat & poultry, industrial, beauty, pharmaceutical, and transportation. It offers a wide range of excipient products under its pharmaceutical segment to several players in the pharmaceutical and nutraceutical industry.

 

Associated British Foods (ABF) Plc (UK), was formerly known as Food Investments Ltd until 1982. It is a leading manufacturer and processor of food & ingredients and is also involved in retail businesses of its food & ingredients. The company operates a majority of its business through five major segments, such as sugar, agriculture, retail, grocery, and ingredients.

 

ABITEC, an ABF ingredients company, is the major provider of excipients products, which include lubricants, binders, coating agents, and flavoring agents to various players in the pharmaceutical and nutraceutical industries. In addition, ABF commercializes a range of other excipient products through its other brand, SPI Pharma (US), a manufacturer of pharmaceutical and nutraceutical products, which offers a line of functional excipient products, catering to the demand of key players in the pharmaceutical and nutraceutical industries. SPI Pharma operates under the Associated British Foods (ABF) Plc ingredients division, ABF Ingredients (UK). Of its subsidiaries, ABF Ingredients (UK) has a global presence in nine countries, which include the US, Brazil, Germany, France, the UK, Finland, India, Singapore, and China, and has nearly five companies operating under it.

 

Kerry Group Plc (Ireland), is a leading global manufacturer of food ingredient products and flavors and a supplier of value-added brands. At first, it operated as a dairy cooperative in Ireland, and in the later phase, as manufacturers of real and wholesome ingredients. It provides a broad range of excipients under its product line of pharmaceutical products through its taste & nutrition business segment.

 

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North America accounted for the largest market share in 2019. The nutraceutical excipients market in North America is dominating, owing to the concentration of the global players such as DuPont (US), Kerry (Ireland), Cargill (US), and Ingredion (US). The market for nutraceutical excipients here is mature, and hence, the growth is moderate compared to other regions. Other factors contributing to the growth of nutraceutical excipients in North American region include the busy lifestyle of consumers, prevalence of chronic diseases due to hectic lifestyles, and an increase in awareness among consumers regarding the health benefits of nutritional foods, including food supplements, which has driven the demand for functional food products. In addition, the use of technological advancements and new product launches have made excipients available for a wide range of applications in the fortified food & beverage, dietary supplements, and nutraceuticals sectors, which is projected to drive the growth of the market in the region.

Food-Grade Gases Market Growth Opportunities by 2025

The global food-grade gases market is estimated to be valued at USD 6.7 billion in 2020 and is projected to reach USD 9.3 billion by 2025, at a CAGR of 6.7% from 2020 to 2025. Changing consumer preferences toward convenient packaging and the growing number of microbreweries across all regions are some of the factors that are driving the market.

 

 

The key players profiled in the food-grade gases market include The Linde Group& Praxair, Inc. (Germany), Air Products & Chemicals, Inc (US), Air Liquide (France), The Messer Group GmbH (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), National Gases Limited (Pakistan), SIAD (Italy), Cryogenic Gases (US), Les Gaz Industriels Ltd. (East Africa), Aditya Air Products (India), Sidewinder Dry Ice & Gas (South Africa), Axcel Gases (India), Chengdu Taiyu Industrial Gases Co., Ltd (China), Yingde Gas Group Ltd (China), Siddhi Vinayak Industrial Gases Pvt Ltd (India), American Welding & Gas (US), Ijsbariek Strombeek N.V (Belgium), Air Source Industries (US), and Purity Cylinder Gases Inc. (US).

 

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The key market players adopted various growth strategies such as new product launches, expansions, acquisitions, partnerships, collaborations, joint ventures, agreements, and mergers to cater to the increasing demand for food-grade gases. The companies have been expanding their operations in various regions across the globe to establish themselves as the leading players in the food-grade gases market.

 

The Linde Group (Germany) is the largest player in the food-grade gases market. It is an engineering and gases company that is based in Germany. It operates through two key business segments, namely, engineering division and gases division. It has become the largest player in the industrial gases segment, globally, after the merger of Linde AG (Germany) and Praxair, Inc. (US) in 2018 to form Linde plc. Through its gases division, the company offers a variety of compressed and liquified gases as well as other chemicals. It has a vast clientele from the industrial sectors, such as aquaculture, chemicals, construction & infrastructure, food & beverages, electronics, and medical. Further, Linde has segmented its gases division, based on product area, into on-site, healthcare, cylinder gases, and liquified gases. The food & beverage industry generally uses the cylinder gases or liquified gases based on the production capacities and requirements. The Linde Group has a presence across 100 countries in 6 continents and has an extensive network of distributors and suppliers. The company primarily operates in Europe; it has gained a strong presence in the Americas after merging with Praxair, Inc. It operates through its subsidiaries—BOC (UK); Linde Consulting Group L.L.C. (US); the Linde Group (US); and the Linde Group, Incorporated (Mexico).

 

Air Liquide (France) is one of the largest players in industrial gases in the world. The company is engaged in producing and supplying gases, technologies, and services for health and other industries. It produces air gases—oxygen, nitrogen, argon, and rare gases—and other gases for aeronautic, beverage, chemical, construction, food, pharma, and metal industries. The company classifies its business activities across 3 segments, namely, gas & services, engineering & construction, and global markets & technologies. Its gas business is operated undr the gas & services business unit, which is further classified into different end-user industries, such as industrial merchants (suppliers of a wide range of different gases and application equipment to industries), large industries (steel, chemical, and refining industry), healthcare, and electronics.

 

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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.