New York, NY, March 13, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Food Grade Gases Market Share, Size, Trends, Industry Analysis Report, By Type (Carbon Dioxide, Nitrogen, Oxygen, and Other Types); By Application; By Industry; By Region; Segment Forecast, 2023 - 2032” in its research database.
“According to the latest research study, the global food grade gases market size/share is anticipated to be valued at approximately USD 7.30 Billion in 2022 and is projected to hit a revenue of around USD 12.81 Billion by 2032, at a CAGR of around 5.9% between 2023 and 2032.”
What are Food Grade Gases? How Big is Food Grade Gases Market Size & Share?
- Overview
Food-grade gases are gases that are utilized in food processing as processing aids or additives to ensure that standards for food safety and quality are met. The escalating global demand for convenience food products and carbonated beverages, combined with mounting consumer concerns about food safety, is fueling the food grade gases market growth.
Food manufacturers and suppliers are intensifying their focus on cutting-edge packaging technologies, such as oxygen scavengers, controlled atmospheric packaging, and modified atmospheric packaging, to meet these evolving consumer needs. This heightened emphasis on advanced packaging drives increased adoption, and food grade gases market demand globally, leading to significant growth.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report May Includes:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 115+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
What are New Additions in 2023?
- Detailed industry outlook
- Additional information on company players
- Customized report and analyst support on request
- Recent market developments and its futuristic growth opportunities
- Customized regional/country reports as per request
Some of the Top Market Players Are:
- Linde PLC.
- Air Products & Chemicals
- Air Liquide
- Taiyo Nippon Sanso
- Wesfarmers Limited
- PT Aneka Gas Industri Tbk
- Massy Group
- Air Water
- National Gases
- Gruppo SIAD
- Lez Gas Industries
- Sidewinder Dry Ice
- Axcel Gases
- Taiya Industrial Gases
- Yingde Gas Group
- Siddhi Vinayak Industries Gases
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Prominent drivers of market expansion
- Consumers' concern regarding food safety helps boost the market
In developed and high-income countries like the United States, France, the United Kingdom, and Germany, a rapid shift in consumer preferences towards conveniently packaged food products over conventional products has been observed. This trend can be attributed to increased awareness among consumers about the concerns associated with food safety, as well as the emergence of on-the-go lifestyles and longer working hours. These factors are expected to drive the growth of the food grade gases market size during the anticipated period.
Furthermore, there has been an extensive surge in the popularity and prevalence of chilled and frozen food products among consumers worldwide. These types of products are widely used by full-service restaurants, quick-service restaurants, and hotels & resorts to provide their customers with different types of aromas and textures, further contributing significantly to the growth of the market.
Recent trends influencing the market
Rising collaboration among the key companies helps accelerate the market growth
- Linde PLC revealed in October 2022 that it would be enlarging its existing long-term contract with Jindal Steel Limited to distribute several industrial gases. Linde will construct a new Air Separation Unit, the company's second at the Kalinga Nagar plant, and expected to triple its total capacity.
- NSF H1 standards in the food industry and increased awareness for product preservation and modified atmosphere packaging are expected to drive market growth.
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Segmentation Assessment
- Carbon dioxide segment accounted for the largest market share in 2022
The carbon dioxide segment has the highest food grade gases market share and is projected to maintain its position throughout the study period. It is extensively used in soft drinks to add fizz and enhance flavor. It's widely used in wines and beers for carbonation and to elevate aroma. This segment is expected to experience substantial growth.
- Freeing & chilling segment is projected to hold a significant market share
The freezing & chilling segment is anticipated to exhibit substantial growth of food grade gases market trend during the forecast period. This growth can be attributed to the increasing use of freezing & chilling products to handle various harmful microorganisms effectively. Freezing helps to slow down enzymatic activities and enhance the shelf-life of food products.
- Beverage industry segment is expected to witness the highest growth
The beverage industry segment is projected to achieve the fastest CAGR during the forecast period. The food grade gases market growth is driven by increasing consumption of drinks and growing consumer disposable incomes, especially in developing countries like China. China's packed beverage consumption reached 274.8 billion liters in 2021 and is expected to reach 302.4 billion liters by 2024. Packaged beverages were around 1.35 trillion liters in 2021.
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Food Grade Gases Market: Report Scope
| Report Attribute | Details |
| The revenue forecast in 2032 | USD 12.81 Billion |
| Market size value in 2023 | USD 7.68 Billion |
| Expected CAGR Growth | 5.9% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Linde PLC., Air Products & Chemicals Inc., Air Liquide, Taiyo Nippon Sanso Corporation, Wesfarmers Limited, PT Aneka Gas Industri Tbk, Massy Group Inc., Air Water Inc., National Gases Ltd., Gruppo SIAD, Lez Gas Industries Ltd., Sidewinder Dry Ice & Gas, Axcel Gases, Taiya Industrial Gases Co., Yingde Gas Group, and Siddhi Vinayak Industries Gases Pvt Ltd. |
| Segments Covered | By Type, By Application, By Industry, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographic Overview
- The North American region accounted for the maximum market share in 2022
North America is also projected to maintain its dominance over the anticipated period. The consumption of frozen food and high consumer spending capacity in countries like the United States and Canada are driving the demand for food-grade gases. In addition, the trend of consuming distinct flavored food inspired by foreign cuisines and various protein-based dietary food products is increasing the demand for food grade gases for seafood, poultry, frozen meat, and others.
During the forecast period, the Asia Pacific region is expected to have the fastest growth rate, primarily due to the region's rapid expansion and development of various manufacturing facilities and supplying techniques. The high population burden and their growing preferences for convenient food products due to the adoption of western culture are expected further to drive the regional market growth in the coming years.
Browse the Detail Report “Food Grade Gases Market Share, Size, Trends, Industry Analysis Report, By Type (Carbon Dioxide, Nitrogen, Oxygen, and Other Types); By Application; By Industry; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/food-grade-gases-market
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Recent Development
- Linde PLC agreed with BASF in February 2022 to supply hydrogen and steam. As per the agreement, Linde will be responsible for the design, construction, ownership, and operation of a new hydrogen production facility in Chalampe, France. The new facility is expected to double the company's current regional capacity.
The Report Answers Questions Such as:
- What is the market size and forecast of the industry?
- What are the inhibiting factors and impact of key factors shaping the market during the forecast period?
- Who are the key players operating in this market?
- Which application/end-user or product type may seek incremental growth prospects?
- What are the most significant challenges the market could face in the future?
- What growth strategies are the players considering to stay in the market?
Polaris Market Research has segmented the food grade gases market report based on type, application, industry, and region:
By Type Outlook
- Carbon Dioxide
- Nitrogen
- Oxygen
- Other Types
By Application Outlook
- Freezing and Chilling
- Packaging
- Carbonation
- Other Applications
By Industry Outlook
- Meat, Poultry & Seafood Industry
- Dairy & Frozen Products Industry
- Beverages Industry
- Fruits & Vegetable Industry
- Convenience Food Products Industry
- Bakery & Confectionery Products
- Other Industries
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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