The food-grade gases market is expected to be worth USD 7.1 billion in 2032 and grow at a CAGR of 6.2% over the course of the forecast period to reach USD 13.0 billion. According to recently released market analysis data from Future Market Insights, the demand for food-grade gases worldwide is expected to increase by 3.5% Y-o-Y in 2032.
In numerous industries, including agriculture, food processing, aquaculture, and the production of fruits and vegetables, there is a need to boost food production due to the rapid development of the human population. The usage of technologies related to food production has increased as a result. This method is demonstrated by the employment of gases during the many stages of food preparation, processing, preservation, and ripening.
It includes in-depth insights into the food grade gases market. Some of these are:
- The estimated value of the market was at US$ 5.3 Bn in 2022. Through the course of the report’s forecast period, the market is likely to exhibit to a steady pace of growth.
- North America accounted for the largest market in the global food grade industrial gases market owing to higher demand for processed food.
- Europe is emerging as the second largest market for food grade industrial gases. However, it is considered as established markets.
- Asia Pacific is growing at a faster rate to grab major market in this region.
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“The increasing use of gases such as carbon dioxide, nitrogen, etc., in carbonated drinks has resulted in a positive impact on the food grade gases market,” said a lead analyst at FMI.
Nationwide Lockdown due to Coronavirus has stunted the Market Growth
The raising prices of raw materials needed to produce are hampering demand development. Worsening situation is disruptions in the supply chain caused by the recent COVID-19 impact. With manufacturers facing difficulties in obtaining available raw materials and fewer labourers, the production might be hampered. Reduced transport due to lockdowns imposed across different nations is also limiting the growth of the sector. If COVID-19 continues to spread around the world, it is unlikely that prevailing economic problems will abate quickly at any time. Unprecedented events occur with the illness passing through one horrid phase after another.
Who is Winning?
Global Food-Grade Industrial Gases Market is a highly competitive market which a major share taken by the active player such as Linde plc, Linde plc, Air Liquide S.A. and others. Mergers and acquisitions and product innovations are the next strategies preferred by companies to strengthen their market dominance. This strategy helps companies to expand their presence in the market across the globe. For instance, Linde plc acquired Praxair which is America’s one of the largest industrial gas companies to capitalize theirs in the American market. Also, the key players are focusing on expanding their network of innovation centers, which enable them to collaborate with customers on new product development and reformulations and make investments.
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Get Valuable Insights into Food Grade Gases Market
- Carbon dioxide
- Dairy and frozen products
- Fruits & vegetables
- Fish & seafood
- Bakery and confectionery
- Freezing and chilling
- North America
- Latin America
- East Asia
- South Asia
Frequently Asked Questions
- What is the Growth Outlook for Food Grade Gases Market?
- By 2032, how much can the Food Grade Gases Market Grow?
- What is the Current Valuation of the Food Grade Gases Market?
- Which Region is likely to Lead the Food Grade Gases Market?
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