The Latin America Food Grade Industrial Gases Market was worth $0.83 billion in 2021 and estimated to be growing at a CAGR of 7.2%, to reach $1.18 billion by 2026.
Industrial gases are gaseous resources that are manufactured for utilization in Industry. Industrial gas is sold to other manufacturing enterprises; usually comprising huge orders to commercial industrial clients, covering a size range from building a development facility or pipeline down to cylinder gas supply.
The increase in the industrial area in promising regions such as Latin America has aided urbanization, which has resulted in high disposable income, leading to augmented use of packaged and ready to cook food. This factor is estimated to enhance the growth of the food grade industrial market in the next few years. The relevance of vacuum pumps for removing moisture and oxygen in packaging of food & beverage is likely to foreseen increasing trend in the past few years and probable to have a negative impact on food grade industrial gases market over the forecast period.
Latin America 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 Latin America Food Grade Industrial Gases Market is segmented into Brazil, Mexico, Argentina, Chile and Rest of Latin America. Mexico is the dominating market in Latin America region and predicted to continue its dominance over the forecast period.
Key Players in the Market:
Major Key Players in the Latin America Food Grade Industrial Gases Market are
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