Food Grade Gases Market Size to Reach USD 9.77 Billion in 2028 | Increasing Need for Safer and More Efficient Packaging Technologies And Materials will Drive Industry Growth, says Emergen Research

Vancouver, British Columbia, March 17, 2021 (GLOBE NEWSWIRE) -- The global food-grade gases market size is projected to reach USD 9.77 Billion at a steady CAGR of 6.3% in 2028, according to latest analysis by Emergen Research. This projected steady revenue growth can be attributed to key factors such as increasing concerns regarding safety and hygiene of packaging technologies and materials, reducing preference for and use of synthetic food preservatives, and rising demand for frozen products among consumers across developing countries. Rapid developments in freezing, chilling, packaging, and carbonation technologies is another key factor expected to support growth of the food-grade gases market going ahead.

Increasing adoption of advanced technologies such as Modified Atmospheric Packaging (MAP), cryogenics, and Individual Quick Freezing (IQF) are other factors driving growth of the food-grade gases market, especially in developing countries. In addition, major players are increasing investments in food packaging technologies, supported by rising consumer demand for packaged and processed food products such as meats, types of seafood, vegetable, dairy products, frozen products, and beverages, and the trend is expected to continue during the forecast period.

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Some Key Highlights in the Report  

• In November 2020, Air Products APD.N, which is the world's largest hydrogen producer, announced plans to launch a 30-ton per day liquid hydrogen production plant in eastern China in 2022. The project, based in Haiyan county in Zhejiang province, would be the first large-sized commercial liquid hydrogen plant in China and the largest of its kind in Asia.
• In August 2020, Linde announced that its U.S. auxiliary, Praxair, Inc., will start working under the Linde name, viable 1 September 2020. The change in name mirrors the organization's advancement following the consolidation of Praxair, Inc., Linde AG.
• In July 2020, Air Liquide and NLMK, which is a leading steel producer in Russia, entered into a new long-term partnership. Air Liquide will configure, fabricate, own, and work another air division unit adhering to more elevated industry norms in wellbeing, effectiveness, and quality. The unit, with a creation limit of 1,000 tons of oxygen each day, will be based on the Lipetsk site to build steel creation of the lead site of NLMK.
• In April 2020, Air Products APD.N announced completion of the USD 530 Million acquisition of five Steam Methane Reformer (SMR) hydrogen production plants from PBF Energy Inc., and commencement of long-term supply of hydrogen from those plants to PBF refineries. The newly acquired Air Products’ SMRs, with a combined production capacity of almost 300 million standard cubic feet per day, are located in Torrance and Martinez, California and Delaware City, Delaware, US. Air Products initially announced this now closed deal on March 30.
• Carbon dioxide segment revenue share in the food-grade gases market is expected to register a rapid CAGR of during the forecast period.
• Beverage segment accounted for a significantly high revenue share in the global food grade gases market in 2020.
• Asia Pacific accounted for the fastest revenue growth rate in the global food-grade gases market in 2020, driven by rising demand for semi-processed food and beverages.
• Key players in the market include Air Liquide, Air Products and Chemicals, Inc., AIR WATER INC, Coregas, Gulf Cryo, Linde plc, SOL Spa, TAIYO NIPPON SANSO CORPORATION, Massy Gas Products (Trinidad) Ltd., Messer Group., Gruppo SIAD, and Praxair Technology, Inc.

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For the purpose of this report, Emergen Research has segmented the global food-grade gases market on the basis of type, application, end-use, and region:

•  Type Outlook (Revenue, USD Billion; 2018–2028)
  • Carbon Dioxide
  • Nitrogen
  • Argon
  • Oxygen
• Application Outlook (Revenue, USD Billion; 2018–2028)
  • Freezing
  • Chilling
  • Packaging
  • Carbonation
• End-use Outlook (Revenue, USD Billion; 2018–2028)
  • Frozen Products
  • Vegetables
  • Dairy Products
  • Meat & Seafood   
  • Beverages 

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• Regional Outlook (Revenue, USD Billion; 2018–2028)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. Italy
    5. Spain
    6. BENELUX
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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