Food Grade Gases Market Size- Global Demand, Covid-19 Analysis, Sales, Consumption and Forecasts to 2023
Market
Overview
The
Food-Grade Gases types are used for modifying the atmosphere of packaging to
inhibit food and beverage spoilage mechanism. According to the Flexible
Packaging Association (FPA), the US flexible packaging sale for food and
beverage was valued at USD 15.9 billion and USD 2.5 billion, respectively, in
2017. The increase in demand for packaged food and beverage products is
expected to propel the demand for food-grade gases to maintain the shelf-life.
The
growth of the Global Food-Grade Gases Market Size is driven by demand for processed food owing
to a rise in nuclear families, the positive influence of the younger
population, urbanization and growing disposable income. Further, promising
opportunities in storage facilities are supporting the demand for frozen and
processed food & beverage products, favoring the demand for food-grade
gases.
Market
Segmentation
The
Global Food-Grade Gases Market has been segmented on the basis of product type,
application, end use, and region. Based on application, the global market has
been categorized into freezing & chilling, packaging, and carbonation. The
packaging segment is expected to register significant CAGR owing to the rise in
consumption of packaged food products due to a shift in consumer preference
towards instant or ready-to-eat food.
By
end-use industry, the Global Food-Grade Gases Market has been divided into
beverages; meat, poultry, and seafood; dairy & frozen products; fruits
& vegetables; convenience food; and bakery & confectionery. The meat,
poultry and seafood segment held significant market share in 2017 and is
projected to dominate in the coming years owing to the rise in consumption of
frozen meat, seafood, and poultry products.
Competitive
Analysis
Some
of the leading players in the Global Food-Grade Gases Market are Air Products
and Chemicals, Inc (US), The Linde Group (Ireland), Air Liquide (France), TAIYO
NIPPON SANSO CORPORATION (JAPAN), Messer Group (Germany), WESFARMERS
LIMITED (Australia), Gulf Cryo (Kuwait.), SOL Group (Italy), Massy Group
(Spain), AIR WATER INC (Japan), The Tyczka Group (Germany), PT Aneka Gas
Industri (Indonesia), Parker Hannifin Ltd (US), National Gases Ltd (Pakistan),
and Praxair Technology, Inc (Kuwait).
Regional
Analysis
North
America is expected to exhibit a healthy CAGR in the global food-grade gases
market owing to the increasing application in carbonation and packaging.
Majority of the consumers in the region opt for dining out and food delivery
option instead of cooking food. Thus, consumers are more inclined towards the
purchase of packaged food and beverage products, spending less time on
preparing food. Asia-Pacific is projected to witness phenomenal growth in the
coming years due to a rise in the demand for food with the growing population.
Furthermore, economic development in the region is estimated to propel the
working population which is increasing the demand for packaged food products
favoring the application of food-grade gases in convenience food
products.
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