The global food grade gases market will derive growth from the increasing demand for frozen foods. According to a report by Fortune Business Insights, titled “Food-grade Gases Market Size, Share & Industry Analysis, By Type (Nitrogen, Oxygen, Carbon Dioxide), By Application (Freezing & Chilling, Packaging, Carbonation) and Regional Forecast, 2023-2030,” the market will benefit from recent advancements in product manufacturing.
Food grade gases are used as additives in several foods for enhancing the visual appearance, freshness, and quality. These gases are normally used in the production phases of the foods. The low cost of the products has led to a wider adoption in diverse foods. Their applications in packaged foods have offered several opportunities for growth for the companies operating in this market. The increasing demand for food grade gases will have a direct impact on the growth of the market in the coming years. Nitrogen, carbon di-oxide, and oxygen are a few of the several gases that are used in the food and beverage industry as food grade gases. Applications in bakery products, confectionary foods, and other such products will have a positive impact on the growth of the market in the forthcoming years.
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The report provides an in-depth analysis of the global food grade gases market. It highlights the latest product launches and recent innovations in the market and states their impact on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years. Forecast values have been provided for the market for the period of 2022-2029. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.
Increasing Number of Company Mergers Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of company mergers have had the highest impact on the growth of the market. In October 2018, the Linde Group announced a merger with Praxair to improve their market position on a global scale. The company plans to expand their consumer reach and in doing so, will hope to establish itself as a world leader in the global food grade gases market. The report identifies a few of the leading mergers and acquisitions of recent times and gauges their impact on the growth of the market.
North America to Hold High Market Share; High Consumption of Packaged Foods
The market has been analyzed across five major regions including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these, the market in North America will witness considerable growth in the coming years. The increased consumption of packaged as well as convenience foods has opened up a huge potential for the growth of the companies in the market. The increased demand for frozen foods will create several growth opportunities for the companies operating in the regional market. Besides North America, Europe will witness considerable growth in the coming years. The presence of a highly organized cold-chain infrastructure will contribute to the growth of the market in the forthcoming years.
Some of the leading companies that are operating in the market are:
- Linde plc. (UK)
- Matheson Tri-Gas Inc. (US)
- Gulf Cryo (Kuwait)
- Air Liquide (France)
- Airgas Inc. (US)
- SOL Group (Italy)
- Taiyo Nippon Sanso Corporation (Japan)
- Wesfarmers Limited (Australia)
- Massy Group (Spain)
- Parker Hannifin GmbH (Germany).
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