Food Grade Industrial Gases Market Remains Afloat amid COVID-19 Pandemic, Report with Competition Mapping, Projects FMI 2022 2030

The global food grade industrial gases market is expected to surge at a CAGR of 4% between 2022-2030. The constant demand for frozen food, especially during the time of lockdowns, is expected to boost this market. Convenience offered by frozen food such as longer shelf life and easy-to-cook option have spiked the demand for food grade industrial gases.

The market is also being fuelled by higher consumption of carbonated drinks amongst the growing younger population. Exponentially growing hospitality industry and rapid urbanization are expected to drive this market in the coming days.

Innovation in Packaging to Boost Demand for Food Grade Industrial Gases

Innovation in packaging, chilling, and freezing technologies to retard and nullify the chances of bacteria breeding have stoked the demand for food grade industrial gases such as carbon dioxide, oxygen, and nitrogen. Growing demand for fresh food, irrespective of location or season, has created a fertile ground for this market.

Consumption of exotic fruits all year round has also made a positive impact on the market. Increasing health consciousness is major driver as consumers want food products to be without or minimal preservatives, chemical treatments, and less processed.

Food manufacturers and distributors are forced to use food grade gases to fulfill consumer’s demands of safe food right from manufacturing stage to consumption stage. New packaging techniques like modified atmosphere packaging and controlled storage conditions specifications in the food and beverage industry is expected to increase food industrial gases demand in forecast period.

Carbon Dioxide to Lead Global Market as Aerated Drinks Remain Popular

Food grade industrial gases are segmented on the basis of gas type as nitrogen, carbon dioxide, oxygen, and others such as hydrogen and argon. Nitrogen, an inert gas, is used in packaging technology and to solve the spoilage problem. Carbon dioxide is used in cooling, freezing, modified atmosphere packaging and carbonization. The increasing number of breweries and sale of sodas, especially in developing economies, is expected to spike demand.

Oxygen is mainly used in modified atmosphere packaging and usually used in combination with carbon dioxide and/or nitrogen to have improved results. Oxygen is also used in packaging of fresh fruits to maintain its freshness by maintaining oxygen level in packet and also used to maintain the colour of the packed meat. Demand for fruits all year round is expected to give this segment an impetus.

On the basis of application type food grade industrial gases market is segmented into freezing & chilling, packaging, carbonation and others (purging). On the basis of product type food grade industrial gases is segmented as dairy & frozen products, beverages, fruits & vegetables, meat, fish & seafood, bakery & confectionery, and others.

Asia Pacific to Lead as Working Population Generates Demand for Convenience Food

North America and Europe are established markets for food grade industrial gases and emerging economies such as Asia Pacific provide opportunities for growth in forecast period. Increasing technological advancements in processing and rising consumption of food products in India and China is expected to promote highest use of food grade industrial gases demand.

Growing number of working population will also boost the demand for food grade industrial gases as convenience food picks momentum.

Key Players

The key international players operating in food grade industrial gases market includes Air Gas, Air Liquide S.A., Air Products Praxair, Emirates Industrial Gases, Gulf Cryo, Matheson Tri-Gas Inc., Messer Group, Parker, Sol-SPA, and The Linde Group.

How Will Growth Unfold

The demand for frozen food is expected to remain high during the pandemic as it has a higher shelf life. As economy stabilizes, the demand food grade industrial gases will rise as sales of aerated drinks through restaurants and vending will increase.

Analysts anticipate that the growing focus on safer food packaging, investments in developing newer technologies to freeze food, and resurgence of hospitality will create a bright future for the market in the coming decade.

Key Highlights

Report Metric

Details

Base year considered

2019

Actual estimates/ Historical data

2014 - 2018

Forecast period

2020 - 2030

Forecast units

Value (USD) Bn

Segments covered
  • Type (nitrogen, carbon dioxide, and oxygen)
  • Application (freezing & chilling, packaging, and carbonation) Product (dairy & frozen products, beverages, fruits & vegetables, meat, fish & seafood, bakery & confectionery)

Market Outlook
  • Food grade industrial gases market to register CAGR of 4% 2020-2030.
  • High sales of aerated drinks to keep carbon dioxide segment in the lead.
  • Popularity of convenience food amongst working class to maintain demand

Regions covered

North America, the Middle East and Africa, Europe, and Central and South America, Asia Pacific

Key Players

Air Gas, Air Liquide S.A., Air Products Praxair, Emirates Industrial Gases, Gulf Cryo, Matheson Tri-Gas Inc., Messer Group, Parker, Sol-SPA, and The Linde Group.

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

 

Main Report Link: https://www.futuremarketinsights.com/reports/food-grade-industrial-gases-market 

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