The total demand for food grade gases by industries worldwide surged 5.4% between 2019 and 2023, concluding at a sales valuation of US$ 7.4 billion. In 2024, the total production of food grade gas is estimated to be around US$ 7.8 billion in terms of value.
Based on recent industry analysis reports, the worldwide demand for food grade gas is expected to increase at a compound annual growth rate of 7.0% through 2034. Furthermore, the total sales of food grade gas are expected to reach around US$ 14.2 billion by 2034 end.
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Food grade gases serve as crucial ingredients for modern preservation and transportation techniques. Carbon dioxide and liquid nitrogen are the leading segments, as these gases help keep the necessary temperatures during transit.
“Food grade gas producers who have established themselves as essential collaborators in the food industry’s modernization are more competitive these days. Food producers also trust the leading market players as they prioritize quality assurance and regulatory compliance,” said an FMI analyst.
Key Takeaways from the Global Food Grade Gas Market Study Report
- The share of the United States in the global food grade gas market is estimated to be around 20% in 2024. During the projected years, it is expected to expand at a CAGR of 5.4%.
- The food grade gas industry in Germany is likely to contribute to nearly 7% of global sales in 2024. Over the forecast years, it is expected to grow further with a 6.5% CAGR.
- Australia is emerging as a lucrative market in the global food grade gas industry landscape with a 3% revenue share in 2024. Over the next ten years, it is expected to expand at 7.5% CAGR.
- China holds a significant share of the Asian food grade gas industry, with a 15% global share in 2024. It is expected to advance further at 6.3% CAGR till 2034.
Competitive Landscape for Food Grade Gas Market Players
The overall market is highly consolidated as there are very few industries in the world holding significant market shares in distinct geographical regions. However, many regional players have surfaced in the last few years in response to supply chain gaps observed during the pandemic years.
Recent Developments by the Food Grade Gas Producers
In May 2023, Messer revealed its plans to open a carbon dioxide (CO2) recovery facility in Austria by early 2024. CO2 It has plans to extract and purify CO2 from an industrial company’s flue gas using OASE blue technology from BASF. The leading industrial gas specialists are now looking to improve their supply stability in Western Austria, South Tyrol, Eastern Switzerland, and Bavaria.
In April 2023, AMETEK MOCON introduced the electronic mixing concept with the Dansensor MAP Mix Focus in the market. Food-grade MAP gases are precisely and consistently mixed using this new mid-capacity gas mixer. Similar to its predecessor with a high capacity, the Dansensor MAP Mix Focus boasts an intuitive interface.
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