The Asia Pacific Food Grade Industrial Gases Market was worth $2.42 billion in 2021 and estimated to be growing at a CAGR of 7.56%, to reach $3.48 billion by 2026. The growing consumption of dairy & frozen products, meat fish & seafood is increasing the demand for food grade industrial gases particularly in the Asia-Pacific region.
Packaging plays an essential role in securing and preventing food and beverage products, though as technology advances and customers become more perceptive, the design of packaging has become as significant as its function. This is widely increasing the demand for gas packaging of foods.
Drivers and Restraints:
The food-grade industrial gases market is expected to grow at a modest rate in the next few years. The market size is anticipated to boost owing to the rising consumption of packaged foods and technologies in packing and chilling & freezing of processed food products. With the usage of industrial gases in almost every industry, the market for the same has not just emerged over the years, but also seen key developments. The narrow framework of the industrial sector is obstructive towards the food grade industrial gases market and expected to hinder market growth.
Asia Pacific Food Grade Industrial Gases Market Segmentation Analysis:
Asia Pacific Food Grade Industrial Gases Market is segmented by type into Carbon Dioxide, Nitrogen and Oxygen. Based on application the market is segregated into Freezing and Chilling, Packaging and Carbonation. On the basis of product type, the market is bifurcated into Meat, Fish & Seafood, Dairy & Frozen Products, Beverages, Fruits & Vegetables, Convenience Foods and Bakery & Confectionery. The demand for nitrogen as a food grade gas is increasing as modified atmospheric packaging (MAP) is gradually being implemented in the food processing & packing industry.
Geographically the market is segmented into China, India, Japan, South Korea and Australia. China and India are estimated to emerge as the fastest growing markets in the forecast period.
Key Players in the Market:
Major key players in the Asia Pacific Food Grade Industrial Gases Market are
The Linde Group (Germany), Tri-Gas Inc. (U.S.), Air Liquide (France), Air Gas (U.S), Matheson, Air Products (U.S.), Taiyo Nippon Sanso, AHG Co. Ltd., Praxair (U.S.), Emirates Industrial Gases (U.A.E.), AHG Co. Ltd., Messer Group (Germany), Sol-SPA (Italy), and Gulf Cryo (Kuwait). Expansion of the market is estimated to endorse new investments and open new markets for food grade industrial gases manufacturers in the coming years.
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