The global food grade gases market size is expected to reach US$ 9.19 Bn by the end of 2029. According to a study by Future Market Insights (FMI), the market will show a steady rise at 5.6% CAGR between 2019 and 2029. According to the report, growing demand for convenience food products and carbonated beverages have significantly fuelled the market for food-grade gases. Further, with the introduction of new products in the food industry and advancements in packaging technologies, there has been a growing need for food-grade gases for various end-uses. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market. However, supply chain disruptions and decelerated demand due to coronavirus may negatively impact growth
Moreover, the advancements in packaging technologies are creating significant demand for food-grade gases. However, COVID-19 is likely to pose a challenge to the market’s positive growth trajectory, by causing supply chain disruptions. The consequent upsurge in prices of raw materials is expected to hinder the profit margins of manufacturers.
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Furthermore, the unavailability of raw materials and the manpower shortage are hampering the overall workflow of the industry. If the pandemic prevailing for longer periods, the market will find it arduous to proliferate at the expected rate.
Carbon dioxide gas holds the lion’s share in market value owing to usage in the carbonation process in the manufacturing of soft drinks, beers, and other alcoholic drinks.
Freezing & chilling application segment accounts for the majority of market value, backed by the ability of food grade gases to prevent spoilage.
Packaging applications will register higher growth during the forecast period, on the back of technological advancements and wide adoption of food grade gases among manufacturers, consumers, and retailers.
Beverages segment will contribute a major chunk to global revenue by the end of the forecast period owing to rising adoption in the industry.
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North America currently leads the global food grade gases market and accounts for nearly 1/3rd of global market value. The region’s dominance is primarily attributed to the high demand for processed food, which utilizes food grade gases.
Asia Pacific (Excluding Japan) is exhibiting tremendous growth owing to the expansion of the food & beverage industry in India and China coupled with technological advancements in processing and rising consumption of processed food.
“The growth of the market is hugely attributed to the increasing use of gases such as carbon dioxide, nitrogen, etc., in carbonated drinks, which are gaining traction among end-users. On the other hand, the unforeseen of COVID-19, and the subsequent transport restrictions and national lockdowns are severely affecting the growth of the market”, says the FMI study.
FOOD GRADE GASES MARKET TAXONOMY
The global Food Grade Gases Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Carbon dioxide
- Dairy and frozen products
- Fruits & vegetables
- Fish & seafood
- Bakery and confectionery
- Freezing and chilling
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Table Of Content
1. Executive Summary
2. Market Overview
3. Market Background
4. Global Food Grade Gases Market Demand Analysis 2015-2019 and Forecast, 2020-2030
5. Global Food Grade Gases Market – Pricing Analysis
6. Global Food Grade Gases Market Demand (Size in US$ Mn) Analysis 2015-2019and Forecast, 2020-2030
7. Global Food Grade Gases Market Analysis 2015-2019and Forecast 2020-2030, By Gas type
8. Global Food Grade Gases Market Analysis 2015-2019and Forecast 2020-2030, By Product type
9. Global Food Grade Gases Market Analysis 2015-2019and Forecast 2020-2030, By Application
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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