December 30, 2022 05:28 ET | Source: Research and Markets Research and Markets

Dublin, Dec. 30, 2022 (GLOBE NEWSWIRE) -- The "Global Food Grade Gases Market by Type (Nitrogen, Oxygen, Carbon Dioxide), Application (Freezing & Chilling, Packaging, Carbonation), Industry (Dairy & Frozen Products, Beverages, Meat, Poultry & Seafood) and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global food grade gases market is estimated to be valued at USD 7.6 billion in 2022. It is projected to reach USD 10.6 billion by 2027, recording a CAGR of 6.9% during the forecast period.

The Asia-pacific region is estimated to record a CAGR of 7.5% during the forecast period.

The Asia Pacific region is the fastest-growing market as the large population here demands a large number of food & beverage products, due to which the need for chilling, freezing, packaging, and carbonating these products is higher. Liquefied food-grade carbon dioxide is used in the beverage industry for carbonation. It is also used to manufacture dry ice, which has a large market in the Asia Pacific region.

According to the Population Reference Bureau, the fastest-growing consumer markets of China, India, and a few other Asia Pacific countries had a combined population exceeding 4.46 billion people (as of 2020), which is projected to become an increasingly important driver for the global food-grade gases market over the next two decades. Other drivers that would have a positive impact on this market are the rising household incomes and the growing middle-class population.

Key factors such as industrialization, growing middle-class population, rising disposable income, changing lifestyles, and the rising consumption of packed products are expected to drive the demand for food-grade gases during the forecast period.

Key players in the food grade gases market are Taiyo Nippon Sanso Corporation (Japan), Air Water Inc. (Japan), Wesfarmers Limited (Australia), PT Aneka Gas Industri Tbk (Indonesia).

The carbon dioxide segment of the food-grade gases market is projected to grow at the highest CAGR of 7.1% during the forecast period.

The high demand for carbon dioxide can mainly be attributed to its wide applications in refrigeration, cooling, modified-air packaging, and cryogenic cooling. Carbon dioxide is a colorless, odorless, and non-toxic gas and can be produced in an air separation unit. Carbon dioxide is used for refrigeration and cooling in the solid (dry ice) and liquid form because it sublimates to gas at a very low temperature of -78.5C (-109.3F).

It is widely used for carbonation in soft drinks, beers, and other alcoholic drinks. The gas also has applications in conserving wine, grape juices, and other juices. Beverage-grade carbon dioxide, which is considered an ingredient in the beverage industry, should be compliant with the strongest regulations of the EC (E290) and the International Society of Beverages Technologists (ISBT).

Carbon dioxide is also used for MAP; it is injected and frequently removed to eliminate oxygen from the package. This is known as modified-atmospheric packaging.

Carbon dioxide helps to extend the shelf-life of food products by preventing molecular breakdown. It also helps prevent discoloration and preserves the flavor. It can prevent the spoilage of many foods, including fruits, raw meats, and packaged baked snacks.

The bulk segment in the food-grade gases market is projected to grow at a higher CAGR of 7.2% during the forecast period.

This segment also accounted for the larger share of the market in 2021. Bulk storage makes it easy to store food-grade gases, which, in turn, makes it convenient for transportation. Bulk gases are generally supplied in large volumes either as a cryogenic liquid or in a high-pressure gas form.

The liquefied gas is often stored in the air separation unit so as to be transported in bulk. During transportation by rail/road, the temperature of the tank must be well maintained. Bulk gas plants are mostly designed to produce liquid products that can be economically transported. Bulk gases are transported in large quantities to the customer through tanks, trucks, or rail. These gases, when supplied in bulk, are easier to transport and store.

The bulk form also requires a much smaller storage space than the normal gaseous form; hence, the bulk mode of supply of these gases is usually preferred.

Food-grade gases, which include carbon dioxide, oxygen, nitrogen, hydrogen, and argon, are supplied in tankers or tube trailers. Large food & beverage manufacturers generally prefer the bulk form of these gases. Carbon dioxide and nitrogen are the most commonly supplied bulk gases because of their use in high volumes in soft drinks and food packaging.

If an end user requires gas for various processes, the liquid is first vaporized and then delivered as a gas through a supply pipe. If the processes require liquids, it is delivered directly from the storage vessel through a cryogenic vacuum-insulated pipeline. Almost all the key players offer bulk gases.

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