CHICAGO, March 7, 2019
CHICAGO, March 7, 2019 /PRNewswire/ -- According to the new market research report "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", published by MarketsandMarkets™, the 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. Shifting consumer preferences toward convenient food packaging owing to their on-the-go lifestyles and the growing number of microbreweries across all regions are some of the factors driving the growth of the food-grade gases market.
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The carbon dioxide segment is estimated to account for the largest share, in terms of value, by type, in 2018
Based on type, the food-grade gases market is segmented into carbon dioxide, nitrogen, oxygen, and others. The carbon dioxide segment is estimated to account for the largest market share in 2018 as carbon dioxide is used for almost all major applications like packaging, freezing & chilling, and carbonation.
Further, carbon dioxide is being used in the softening of water to avoid corrosion problems in long water distribution lines and also in producing potable drinking water. Due to the huge demand from the microbreweries and other carbonated beverage manufacturers, the carbon dioxide segment holds the largest market share.
Browse in-depth TOC on "Food Grade Gases Market"
75 – Tables
60 – Figures
171 – Pages
The beverages segment, by end-use, is estimated to witness the fastest growth in the food grade gases market in 2018
By end-use, the food-grade gases market is segmented into meat, poultry, and seafood products; dairy & frozen products; beverages; fruits & vegetables; convenience food products; bakery & confectionery products; and others. The beverages segment is estimated to grow at the highest CAGR due to the use of large volumes of food-grade gases, especially carbon dioxide and nitrogen, for carbonation and blanketing. As the demand for carbonated beverages increases, there is a simultaneous growth in the market for food-grade gases.
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North America is estimated to dominate the food grade gases market, in terms of value, in 2018
The microbrewery culture is also on the rise in the North American market. There are multiple microbreweries present in the region. These microbreweries require carbon dioxide for beer dispensing. Also, the North American soft drinks market is one of the largest, with the presence of all the big brands such as Coca-Cola and PepsiCo. The soft drinks industry is one of the largest users of food-grade carbon dioxide for the carbonation of beverages.
The large beverage industry and rising trends of microbreweries create a huge demand for carbon dioxide in the North American region, with the US being the largest and fastest growing market. Also, because of the presence of highly organized retail chains and cold chain infrastructure, the North American market holds the largest market share in the food-grade gases market.
This report includes a study on the marketing and development strategies, along with a study on the product portfolios of the leading companies. It includes the profiles of leading companies such as The Linde Group (Germany), Air Products & Chemicals (US), Air Liquide (France), The Messer Group (Germany), Taiyo Nippon Sanso (Japan), Wesfarmers Ltd. (Australia), SOL Group (Italy), Gulf Cryo (Kuwait), Air Water, Inc. (Japan), Massy Group (Caribbean), PT Aneka Industri (Indonesia), and The Tyczka Group (Germany).
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