The food-grade gases market is seeing a surge in demand due to several key factors such as the increasing popularity of convenience food and carbonated drinks. Consumers are becoming more concerned about the safety of their food, which has resulted in food manufacturers turning to advanced packaging technologies like oxygen scavenging, MAP, CAP, and active packaging. These technologies create a controlled environment within the packaging, preserving the freshness of food products and reducing the need for additives while ensuring the quality of the food is not compromised.
At a CAGR of 6.9% during the forecast year, the food-grade gases market is expected to reach USD 10.6 billion by 2027. It is to be valued at $7.6 billion in 2022.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=9473111
Drivers: Shift toward convenient packaged foods
Food-grade gases such as carbon dioxide (CO2), nitrogen (N), and oxygen (O) are mainly used in the packaging of convenience foods to enhance the shelf-life of fresh food products. Rising health concerns among consumers, especially in North America and Europe, have led to a shift toward the consumption of safer, healthier, and higher-quality food products.
Owing to the rising concerns about food safety amongst consumers, food manufacturers are focusing on various advanced packaging technologies such as oxygen scavengers, modified atmosphere packaging (MAP), controlled atmosphere packaging (CAP), and active packaging. These technologies help in maintaining the levels of gases such as oxygen and nitrogen inside the packaging, prevent the oxidation of food products, and reduce the need for additives while maintaining product quality.
The global food-grade gases market is mainly driven by the increasing demand for packaged food. On-the-go lifestyles have emerged because of several factors. Longer working hours & commute time, as well as the growing number of smaller households, contribute to the increased demand for convenient single-serving or packaged food products. The increase in the utilization of these packaging technologies in the food packaging industry will lead to the growth of the food-grade gases market.
Opportunities: Increasing consumer preference for frozen and chilled food products will propel market demand
The increasing popularity of shelf-stable foods among consumers on a global level is expected to propel the demand for frozen and chilled food products over the next few years. According to an article published in Progressive Grocer in August 2021, the popularity of these foods, including breakfast meals, rose by 10.9%, and dinners and entrees were up by 4.9%. frozen meat, up 2.7%, and processed chicken (up 10.4%). Moreover, the utilization of these products by numerous end users, such as full-service restaurants, hotels & resorts, and quick-service restaurants, will further support the growth of this market.
Increasing demand for frozen sea food in countries away from the coast is escalating the market for food-grade gases. Additionally, the market is also expected to expand due to the increasing import and export of various packaged food products. For instance, in October 2021, Amul, the Indian food retailer, expanded its frozen and ready-to-eat food offerings, including frozen potatoes, paneer, cheese parathas, and patties.
This growth is also fuelled by new legislation in the retail environment, which gives foreign investors and multinational retail chains access to these markets. These retail chains have organized distribution channels across these markets, which provides opportunities for setting up food & beverage industries here. The growing importance of food safety and the quality of processed foods in these countries has increased the need to prevent the deterioration of food with the use of proper packaging technologies, which has increased investments in refrigerated storage facilities.
Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=9473111
North America dominated the food grade gases market
Canada and Mexico witness the largest imports of meat, fish, and seafood. In 2018, Canada was the largest export market for US agricultural products and accounted for 17% of the total exports. The major commodities exported to Canada are prepared foods, fresh & processed vegetables, fresh & processed fruit, meat & meat products, snack foods, certain non-alcoholic beverages, chocolate & cocoa products, condiments & sauces, coffee, wine, beer, and pet food.
The key players in this market include Air Products & Chemicals, Inc. (US), Cryogenic Gases (US), and American Welding & Gas (US).
Global Food-Grade Gases Market The GMI Research asserts that the Food-Grade Gases Market will expand at a faster rate over the forecast period.
This is because of the ongoing enlargement of the beverage industry and aggravating preference of ready to eat food items.Request for a FREE Sample Report on Food-Grade Gases MarketIntroduction of the Food-Grade Gases Market Food grade gases refer to the gases used as additive to enhance compliance with norms.
They are efficiently used in the food industry to freeze, carbonate food products like dairy and beverages.
The market includes several types such as carbon dioxide, nitrogen, and oxygen.
Food-Grade Gases Market DynamicsThe accelerating number of microbreweries is supplementing the growth of the global food grade gases market.
Thus, the ongoing innovation in the product offering has fuelled the implementation of gas, thereby bolstering the food grade gases market size.However, various legislations authorized by several countries such as North America and Europe, majorly to prevent food products from rotting and circumscription owing to the awful production and refrigerated preservation is hindering the Global Food-Grade Gases Market Size.Food-Grade Gases Market Segmentation:Segmentation by TypeCarbon DioxideNitrogenOxygenOthersSegmentation by ApplicationFreezing & ChillingPackagingCarbonationOthersSegmentation by End-UseBeveragesMeat, Poultry, and Seafood ProductsDairy & Frozen ProductsFruits & VegetablesConvenience food ProductsBakery & Confectionery ProductsOthersSegmentation by Mode of SupplyBulkCylindeSegmentation by Region:EuropeUnited KingdomGermanyFranceSpainRest of EuropeAsia PacificChinaJapanIndiaRest of APACNorth AmericaUnited States of AmericaCanadaRoWUAEBrazilSouth AfricaSaudi ArabiaAbout GMI ResearchGMI, a market research and consulting enterprise that provides business perception and reports to different organisations, which include several small, medium and large enterprises.
The market intelligence report on the Food Grade Gases industry offers the readers an extensive assessment of the sector, along with the potential growth of the same to be expected in the coming years.
In the study, 2016 and 2017 have been referred to for determining the past performance, while 2018 has been assumed as the base year to predict the trajectory of the progress of the industry during the forecast years from 2019 to 2026.
The report is aimed at helping the reader get a holistic view of the market with all crucial aspects in order to decipher optimum business plans.This report covers the recent COVID-19 incidence and its impact on Food Grade Gases Market.
The pandemic has widely affected the economic scenario.
This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.Enter your information in the form below to receive a sample copy of this Report @ https://www.reportsanddata.com/sample-enquiry-form/2118Scope of Report:The report underlines the market trends drawn after the assessment of the past data gathered from 2016 and 2017 and performs a comprehensive study of the trends in the sector to derive market insights and calculate the CAGR that can be expected in the forecast years.
The report also scrutinizes the financial performance, novel technologies, and strategic expansion undertaken by the company, which includes mergers and acquisitions and collaborations.
