Food Grade Gases Global Market Report 2024

The food grade gases market size has grown strongly in recent years. It will grow from $7.92 billion in 2023 to $8.41 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth observed in the historical period can be attributed to heightened environmental concerns and a growing emphasis on sustainability, the globalization of the food trade, increasing demand for ready-to-eat foods, and the widespread adoption of Modified Atmosphere Packaging (MAP) technologies.

The food grade gases market size is expected to see strong growth in the next few years. It will grow to $10.97 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The anticipated growth in the forecast period can be attributed to the rising demand for packaged foods, expansion in the convenience food segment, a heightened focus on food safety and quality, growth in the beverage industry, and increased globalization and international trade. Major trends expected in this forecast period include the adoption of sustainable and eco-friendly practices, strict regulatory compliance, the implementation of Modified Atmospheric Storage (MAS), applications in freezing and cooling processes, carbonation in beverages, and an enhanced focus on quality and safety assurance in the food industry.

The burgeoning consumer demand for frozen and chilled food products is poised to be a significant driver for the food-grade gases market. Frozen and chilled food products are preserved by rapid freezing and are stored in freezers until utilized. Food-grade gases play a crucial role in packaging these products, preventing spoilage, and ensuring freshness for consumers. The escalating demand for frozen and chilled foods has notably surged, as indicated by the 2022 State of the Industry Report by the Association for Talent Development, a US-based non-profit association. The report predicts that frozen food sales in the United States will exceed $72 billion in 2022. Consequently, this surge in consumer demand for frozen and chilled food products is a primary catalyst propelling the food-grade gases market.

The increasing production of meat and seafood products is anticipated to drive the expansion of the food-grade gases market. Meat, referring to animal flesh consumed as food, and seafood products, encompassing various marine life forms consumed by humans, present a favorable environment for microbial growth due to their rich nutrient composition. Food-grade gases are extensively used in the packaging of meat and seafood products to extend their shelf life. According to the OECD-FAO Agricultural Outlook 2022-2031 report shared by the OECD iLibrary, global fish production is projected to increase by 25 MT (megaton) or 14% from the baseline period to reach 200 MT by 2029. Furthermore, the percentage of fish oil derived from fish waste is expected to rise from 41% to 45%, and fishmeal is predicted to increase from 24% to 28% by 2029. Consequently, the escalating production of meat and seafood products will be a driving force behind the expansion of the food-grade gases market.

Leading companies in the food-grade gases market are emphasizing the development of strategic partnerships, which entail commercial collaborations between two or more businesses often formalized through contractual agreements. For example, in February 2022, PETRONAS, a Malaysian energy group, established a partnership with Mitsui O.S.K. Lines, Ltd (MOL), a Japan-based transportation company. This collaboration aims to leverage MOL's expertise in operating liquefied CO2 vessels for food-grade CO2 alongside PETRONAS, contributing valuable insights into the secure transportation of liquid CO2.

In February 2021, Guanggang Gas, a China-based chemical company, executed the acquisition of Linde Wuhu Carbon Dioxide Company for an undisclosed sum. This strategic acquisition is poised to bolster Guanggang Gas's capabilities in meeting customer demands, expanding its electronic ultra-pure bulk gas operations, and fortifying its product supply chain. Linde Wuhu Carbon Dioxide Company, based in China, specializes in the production of food and industrial-grade carbon dioxide. This acquisition positions Guanggang Gas for enhanced market presence and improved offerings within the food-grade gases sector.

Major companies operating in the food grade gases market report are Linde Group & Praxair Inc., Air Products & Chemicals Inc., Air Liquide SA, The Messer Group GmbH, Taiyo Nippon Sanso Corporation, Coregas Pty Ltd., PT Aneka Gas Industri TBK, Massy Group Inc., Air Water Inc., Sol Group S.p.A., Gulf Cryo Holding W.L.L., National Gases Limited, Gruppo SIAD S.p.A., Les Gaz Industriels Ltd., Aditya Air Products Pvt. Ltd., Sidewinder Dry Ice & Gas LLC, Axcel Gases, Chengdu Taiyu Industrial Gases Co. Ltd., Yingde Gas Group Ltd., Siddhi Vinayak Industrial Gases Pvt. Ltd., American Welding & Gas Inc., Airgas USA LLC, Cryogenic Gases LLC, Ellenbarrie Industrial Gases Ltd., Iwatani Corporation, Matheson Tri-Gas Inc., Nippon Gases Europe S.A., The Southern Gas Limited, Yara International ASA.

North America was the largest region in the food grade gases market share in 2023. The regions covered in the food grade gases market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the food grade gases market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The food grade gases market consists of sales of formaldehyde, hydrogen peroxide, and argon. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary types of food-grade gases include carbon dioxide, nitrogen, oxygen, sulfur dioxide, and others. Carbon dioxide, a colorless gas formed by the combustion of carbon-containing materials, also serves as a greenhouse gas. Its applications span freezing and chilling processes, packaging, carbonation, and more. Various end uses include dairy and frozen foods, fish and seafood, meat, beverages, fruit and vegetables, as well as bakery and confectionery products, among others.

The food grade gases market research report is one of a series of new reports that provides food grade gases market statistics, including food grade gases industry global market size, regional shares, competitors with a food grade gases market share, detailed food grade gases market segments, market trends and opportunities, and any further data you may need to thrive in the food grade gases industry. This food grade gases market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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