Food-Grade Industrial Gases Market by Product and Geography - Global Forecast 2019-2023
Global Food-Grade Industrial Gases Market: About this market
Food-grade industrial gases are used as processing aid or additives in the preparation of packaged food and beverages products. These gases must comply with the standards laid out for food additives by various governing bodies such as the US Food and Drug Administration (FDA). Technavio’s food-grade industrial gases market analysis considers sales from carbon dioxide, nitrogen, and oxygen and other gases. Our analysis also considers the sales of food-grade industrial gases in APAC, Europe, MEA, North America, and South America. In 2018, the carbon dioxide segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing demand for packaged food products and carbonated beverages will play a significant role in the carbon dioxide segment to maintain its market position. Also, our global food-grade industrial gases market report also looks at factors such as new product launches, increasing M&A activities, increasing investments in law vendors. However, health issues associated with industrial gases, criticalities in gas distribution and gas handling systems and enforcement of stringent regulations may hamper the growth of the food-grade industrial gases industry over the forecast period.
Global Food-Grade Industrial Gases Market: Overview
New product launches
The food-grade industrial gases market is witnessing a significant increase in the launch of new products by vendors. Successful new product launches help vendors to increase their revenue flow and market share. The increasing launch of new products using food-grade gases for preservation as well as enhancement of food products will drive the growth of the food-grade industrial gases market at a CAGR of over 8% during the forecast period.
Increasing number of microbreweries
Several countries across the world, especially countries in Europe and North America, have witnessed significant growth in the number of microbreweries in the last few years. The US, the UK, and Germany have the greatest number of microbreweries in the world. The increasing number of microbreweries globally will increase the demand for food-grade industrial gases that are used at various stages of beer production, shipment, and storage.
For the detailed list of factors that will drive the global food-grade industrial gases market during the forecast period 2019-2023, click here.
With the presence of several major players, the global food-grade industrial gases market is fragmented. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading food-grade industrial gases manufacturers, that include Air Products and Chemicals Inc., L’Air Liquide SA, Linde Plc, Messer Group GmbH, and Parker Hannifin Corp.
Also, the food-grade industrial gases market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Air Products and Chemicals Inc., L’Air Liquide SA, Linde Plc, Messer Group GmbH, and Parker Hannifin Corp.
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