PUBLISHER: The Business Research Company | PRODUCT CODE: 1270638
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270638
“Food Grade Gases Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on food grade gases market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for food grade gases ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The food grade gases market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the food grade gases market are Linde Group & Praxair Inc., Air Products & Chemicals Inc., Air Liquide SA, The Messer Group GmbH, Taiyo Nippon Sanso Corporation, Coregas Pty Ltd., PT Aneka Gas Industri TBK, Massy Group Inc., Air Water Inc., Sol Group, Gulf Cryo, National Gases Limited, Gruppo SIAD, Les Gaz Industriels Ltd., Aditya Air Products, Sidewinder Dry Ice & Gas, Axcel Gases, Chengdu Taiyu Industrial Gases Co. Ltd., Yingde Gas Group Ltd., Siddhi Vinayak Industrial Gases Pvt. Ltd., and American Welding & Gas.
The global food grade gases market is expected to grow from $7.53 billion in 2022 to $7.97 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The food grade gases market is expected to grow to $9.98 billion in 2027 at a CAGR of 5.8%.
The food grade gases market consists of sales of formaldehyde, hydrogen peroxide, and argon. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Food-grade gases refer to the gases that are involved in processing aids and/or additives in order to ensure that standards are followed. They contribute to the quality and freshness of food and beverages. They are used in packaging that enhance the shelf life of convenience foods.
North America was the largest region in the food grade gases market in 2022. The regions covered in the food grade gases market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The major types of food-grade gases are carbon dioxide, nitrogen, oxygen, sulfur dioxide, and others. Carbon dioxide refers to a chemical compound that is a colorless gas that is formed by the combustion of materials containing carbon and is a greenhouse gas. Several applications include freezing and chilling, packaging, carbonation, and others, and various end uses include dairy and frozen foods, fish and sea foods, meat, beverages, fruit and vegetables, bakery and confectionery, and others.
The increasing consumer demand for frozen and chilled food products is expected to propel the food grade gases market going forward. Frozen and chilled food products refer to food products preserved by rapid freezing and stored in the freezer until used. Food grade gases are used in the packaging of frozen and chilled foods to prevent them from spoiling and ensure they stay fresh for the customers, thus an increase in demand for frozen and chilled foods will help to propel market growth. For instance, in 2020, according to the American Frozen Food Institute, a US-based national trade association of the frozen food industry, frozen foods sales increased by 13.3% in units and 21% increase in dollars to reach $65.1 billion in retail sales over the previous year. In 2020, consumers made a record number of online purchases and added a lot of frozen goods to their carts. Sales of frozen food online increased by 75%, with frozen dinners and entrees, beef, poultry, and seafood taking the top spots. Therefore, the increasing consumer demand for frozen and chilled food products is driving the food grade gases market.
Rise in production of meat and seafood products is expected to propel the growth of the food grade gases market going forward. Meat refers to animal flesh consumed as food and seafood products include any type of marine life that humans eat and have a rich nutrient matrix, which is a favorable habitat for the growth of microorganisms. Food-grade gases are primarily utilized in the packaging of meat and seafoods to enhance their shelf-life. For instance, in July 2020, according to a report OECD-FAO Agricultural Outlook 2022-2031 shared by the OECD iLibrary, a France-based online library of the Organization for Economic Cooperation and Development, the global fish production is anticipated to increase by 25 MT (megaton) (or 14%) from the baseline period to 200 MT by 2029 (average of 2017-19). The percentage of total fish oil derived from fish waste is anticipated to increase from 41% to 45% by 2029, while the percentage of fishmeal will rise from 24% to 28%. Therefore, rise in production of meat and seafood products will drive the growth of the food grade gases market.
In February 2021, Guanggang Gas, a China-based company that operates in the chemical industry, acquired Linde Wuhu Carbon Dioxide Company for an undisclosed amount. This acquisition will enhance Guanggang's ability to meet client requests, expand its electronic ultra-pure bulk gas business, and enhance its product supply chain. Linde Wuhu Carbon Dioxide Company is a China-based producer of food and industrial-grade carbon dioxide.
The countries covered in the food grade gases market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The food grade gases market research report is one of a series of new reports from The Business Research Company that provides food grade gases market statistics, including food grade gases industry global market size, regional shares, competitors with a food grade gases market share, detailed food grade gases market segments, market trends and opportunities, and any further data you may need to thrive in the food grade gases industry. This food grade gases market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.