Food-Grade Industrial Gases Market Size Worth $3.42 Billion by 2023 - Technavio

LONDON--()--The global food-grade industrial gases market size is poised to reach USD 3.42 billion by 2023, according to a new report by Technavio, progressing at a CAGR of more than 8% during the forecast period. The launch of several new products using food-grade gases is projected to augment the market over the forecast period.

Key suggestions from the report:

  • Carbon dioxide segment represented over 45% of the overall volume in 2018 owing to the increasing demand for packaged food products and carbonated beverages.
  • Nitrogen segment is likely to register a CAGR of more than 8% in terms of revenue from 2019 to 2023 on account of the numerous applications of nitrogen in food and beverage industry and the growing demand for packaged food.
  • Oxygen segment commanded close to 10% of food-grade industrial gases volume share in 2018, owing to their increased applications in the food and beverage sector.
  • The North American food-grade industrial gases market accounted for close to 33% of the overall revenue in 2018, on account of an increasing number of craft breweries in North America.
  • The market is moderately fragmented with a number of players occupying the market share. In addition, the increasing launch of new products by vendors in the market is likely to intensify the competition among players.

Read a 126-page research report with TOC on "Food-grade industrial gases Market Analysis Report by product (carbon dioxide, nitrogen, oxygen, and others) and segment forecasts for 2019 to 2023" at

https://www.technavio.com/report/global-food-grade-industrial-gases-market-industry-analysis

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 positively impact the growth of the food-grade industrial gases market.

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.

The consumption of food products that are chilled and preserved using industrial gases can cause various health issues among consumers. For instance, the consumption of foods such as ice cream, cereal, and cocktails prepared using liquid nitrogen can cause serious injury including internal organ damage. The various health issues due to industrial gases hamper the growth of the food-grade industrial gases market during the forecast period.

Technavio has segmented the global food-grade industrial gases market based on the product (carbon dioxide, nitrogen, oxygen, and others) and region (APAC, Europe, North America, South America, and MEA).

Related Reports on MATERIALS are:

Industrial Gases Market – Global industrial gases market report provides a detailed analysis of the market by type (hydrogen, oxygen, nitrogen, carbon dioxide, acetylene, helium, and others), end-users (manufacturing, chemical processing, metal fabrication, energy, medical and healthcare, food and beverage, electronics, and others), and geography (APAC, Europe, MEA, North America, and South America).

Green Chemicals Market – Global green chemicals market report provides a detailed analysis of the market by product (bioalcohols, biopolymers, bio-organic acids, and bio-ketones) and geography (APAC, Europe, MEA, North America, and South America).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com
media@technavio.com.

Release Summary

The global food-grade industrial gases market size is poised to reach USD 3.42 billion by 2023, according to a new report by Technavio.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com
media@technavio.com.