(Food-Beverage-News.Com, October 17, 2017 ) According to the report North America Food Grade Industrial Gases Market, published by Market Data Forecast, the Market was worth USD 1.86 billion in 2016 and estimated to be growing at a CAGR of 6.04%, to reach USD 2.49 billion by 2021. North America’s food grade industrial gases market faces steady shifts in consumer preferences, government policies, and new companies and products.
Food-grade industrial gases are effectively used in the food industry for freezing & chilling, packaging, and carbonation of food products such as dairy & frozen products, beverages, fruits & vegetables, meat, fish & seafood, bakery & confectionery, and convenience foods.
Although the atmosphere is extremely competitive, this market will see growth in spite of the descending economic outlook as a result of sturdy consumer demand. The rapid development of emerging economies has led to the growth of food grade industrial gases market. Growth of the electronics industry and the industrial area in developing economies has been a key driver of the North America food grade industrial gases market. High cost of gas processing is a major restraint of the market.
North 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 market is segmented into USA and Canada. USA is leading the market for North America region in terms of revenue followed by Canada.
Some of the key players in the 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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