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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 6.2 Billion
• Forecast CAGR (2021-2026): 6%
• Forecast Market Size (2026): USD 8.6 Billion
Consumers' growing concerns about food safety have forced corporations to use food grade industrial gases in packing and storage. The food & beverage industry's increased reliance on MAP for microbial growth control is projected to drive market demand in the near future.
Industry Definition and Major Segments
Food-grade industrial gases are described as gases that are utilized as a processing aid or additive in order to ensure compliance with regulatory standards in the food processing industry. These gases are either utilized alone or in a variety of combinations.
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The industry can be divided based on types as:
• Carbon Dioxide
The industry can be divided based on applications as:
• Freezing and Chilling
The industry can be broadly categorised based on its end-uses into:
• Meat, Poultry, and Seafood Products
• Dairy and Frozen Products
• Fruits and Vegetables
• Convenience Food Products
• Bakery and Confectionery Products
The industry can be divided based on the mode of supply as:
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Carbon dioxide is commonly used to carbonate soft drinks and beer. It can preserve wine, grape juice, and other juices. Carbon dioxide is also used in MAP to remove oxygen from the package. Carbon dioxide is expected to remain the most in demand food-grade gas due to advances in packaging technology.
Increasing demand from end-use industries such as processed foods, bakery and confectionery, and breakfast cereals is projected to drive the North American food-grade industrial gases market during the forecast period. Healthy snacking is becoming more popular in the US, which means more opportunities for industrial food-grade gases in frozen and chilled snack foods. Also, the region boasts the world's greatest per capita meat intake. Thus, the use of industrial gases in the meat sector is fuelling market expansion.
Key Market Players
The major players in the market are The Linde Group, Air Products & Chemicals, Inc. (NYSE: APD), Air Liquide, The Messer Group GmbH, Taiyo Nippon Sanso, SOL Group and among others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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