Market Overview
The food-grade gases types are used for modifying the atmosphere of packaging to inhibit food and beverage spoilage mechanism. According to the Flexible Packaging Association (FPA), the US flexible packaging sale for food and beverage was valued at USD 15.9 billion and USD 2.5 billion, respectively, in 2017. The increase in demand for packaged food and beverage products is expected to propel the demand for food-grade gases to maintain the shelf-life.
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The growth of the global food-grade gases market is driven by demand for processed food owing to a rise in nuclear families, the positive influence of the younger population, urbanization and growing disposable income. Further, promising opportunities in storage facilities are supporting the demand for frozen and processed food & beverage products, favoring the demand for food-grade gases.
Competitive Analysis
Some of the leading players in the global food-grade gases market are Air Products and Chemicals, Inc (US), The Linde Group (Ireland), Air Liquide (France), TAIYO NIPPON SANSO CORPORATION (JAPAN), Messer Group (Germany), WESFARMERS LIMITED (Australia), Gulf Cryo (Kuwait.), SOL Group (Italy), Massy Group (Spain), AIR WATER INC (Japan), The Tyczka Group (Germany), PT Aneka Gas Industri (Indonesia), Parker Hannifin Ltd (US), National Gases Ltd (Pakistan), and Praxair Technology, Inc (Kuwait).
Market Segmentation
The global food-grade gases market has been segmented on the basis of product type, application, end use, and region. Based on application, the global market has been categorized into freezing & chilling, packaging, and carbonation. The packaging segment is expected to register significant CAGR owing to the rise in consumption of packaged food products due to a shift in consumer preference towards instant or ready-to-eat food.
By end-use industry, the global food-grade gases market has been divided into beverages; meat, poultry, and seafood; dairy & frozen products; fruits & vegetables; convenience food; and bakery & confectionery. The meat, poultry and seafood segment held significant market share in 2017 and is projected to dominate in the coming years owing to the rise in consumption of frozen meat, seafood, and poultry products.
Regional Analysis
North America is expected to exhibit a healthy CAGR in the global food-grade gases market owing to the increasing application in carbonation and packaging. Majority of the consumers in the region opt for dining out and food delivery option instead of cooking food. Thus, consumers are more inclined towards the purchase of packaged food and beverage products, spending less time on preparing food. Asia-Pacific is projected to witness phenomenal growth in the coming years due to a rise in the demand for food with the growing population. Furthermore, economic development in the region is estimated to propel the working population which is increasing the demand for packaged food products favoring the application of food-grade gases in convenience food products.
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