Dublin, July 22, 2019 (GLOBE NEWSWIRE) -- The "Food Grade Gases Market by Type (Carbon Dioxide, Nitrogen, Oxygen), Application (Freezing & Chilling, Packaging, Carbonation), End-Use (Dairy & Frozen Products, Beverages, Meat, Poultry & Seafood), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global food-grade gases market is estimated to be valued at USD 5.9 billion in 2018 and is projected to reach USD 8.1 billion by 2023, at a CAGR of 6.7% from 2018 to 2023.
Factors such as the growing demand for convenience food products and carbonated beverages have significantly fueled the market for food-grade gases. Owing to the rising concerns about food safety amongst consumers, food manufacturers are focusing on various advanced packaging technologies such as the oxygen scavenger, modified atmosphere packaging (MAP), controlled atmosphere packaging (CAP), and active packaging. These technologies help in maintaining the controlled atmosphere inside the packaging and prevent the oxidation of food products and reduce the need for additives while maintaining product quality.
By type, the carbon dioxide segment is projected to witness the fastest growth during the forecast period.
The carbon dioxide segment is estimated to grow at the highest CAGR due to growing demand from the carbonated beverages industry across the globe. Carbon dioxide is used for refrigeration and cooling in solid (dry ice) and liquid forms; this is because it sublimates to gas at a very low temperature of -78.5 C (-109.3 F). It is widely used for carbonation in soft drinks, beers, and other alcoholic drinks.
Carbon dioxide is also used in Modified Atmosphere Packaging (MAP) along with nitrogen because of its inert characteristic. Further, carbon dioxide is also being used in the softening of water to avoid corrosion problems in long water distribution lines, and also in producing potable drinking water.
By mode of supply, the bulk segment in the food-grade gases market is projected to grow at the highest CAGR during the forecast period.
Based on mode of supply, the food-grade gases market is segmented into bulk and cylinder. The bulk mode of supply is usually preferred by large food & beverage manufacturers due to the ease of handling and storage it offers. The bulk mode of supply of food-grade gases is also cost efficient than when the gases are offered in cylinders.
Carbon dioxide and nitrogen are the most commonly supplied bulk gases because of their use in high volumes in soft drinks and food packaging. If an end-user requires gas for various processes, the liquid is first vaporized and then delivered as a gas through a supply pipe. If the processes require liquid, it is delivered directly from the storage vessel through a cryogenic vacuum-insulated pipeline. Almost all the key players offer bulk gases.
Asia Pacific is projected to be the fastest-growing region in the food-grade gases market, due to the developing cold-chain infrastructure and changing consumer preference for packaged food products.
The climatic conditions in the Asia Pacific region range from tropical to semi-tropical; and certain food products require proper refrigeration to prevent early spoilage. Also, in some of the developing countries in the region, the cold chain infrastructure is in the development phase. This is projected to drive the market for food-grade gases in the region. Rising consumer preference for packaged food products due to busy lifestyles is also one of the drivers of food-grade gases with applications in packaging.
Further, key factors such as industrialization, growing middle-class population, rising disposable income, changing lifestyles, and the rising consumption of packed products are expected to drive the demand for food-grade gases during the forecast period.
Market Dynamics
Drivers
- Shift Toward Convenient Packaged Food Owing to On-The-Go Lifestyles
- Growing Number of Microbreweries Across All Regions
Restraints
- Strict Government Regulations to Meet Quality Standards
Opportunities
- Increasing Demand From Developing Economies Such as China and India
- Increasing Number of New Food & Beverage Product Developments
Challenges
- Safe & Proper Handling of Food Grade Gases
- Provide the Right Mixture of Gases in Controlled Environment Packaging
Companies Mentioned
- Air Liquide
- Air Products & Chemicals, Inc.
- Air Water, Inc.
- Gulf Cryo
- Massy Group
- Praxair, Inc.
- Pt Aneka Gas Industri
- SOL Group
- Taiyo Nippon Sanso
- The Linde Group
- The Messer Group GmbH
- The Tyczka Group
- Wesfarmers Limited
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