The global food-grade gases market size is expected to reach USD 9.77 Billion at a steady CAGR of 6.3% in 2028, according to latest analysis by Emergen Research. Robust projected revenue growth can be attributed to increasing government incentives and policies in various developed and developing countries to promote exports of food and dairy products, vegetables, meats, and seafood.
The report extensively underscores the latest market scenario, as well as the global economic landscape battered by the ongoing COVID-19 pandemic. Besides affecting millions of lives worldwide, the pandemic has brought about devastating impacts on this particular business sphere. The report encapsulates the significant effects of the coronavirus pandemic on the Food-grade Gases industry and its key segments. The study, therefore, inspects the grave impact of the pandemic on this industry vertical, its leading players, distribution channels, supply chains, and the overall economic landscape.
Read more @ https://www.emergenresearch.com/industry-report/food-grade-gases-market
Some Key Highlights in the Report
- In November 2020, Air Products APD.N, which is the world’s largest hydrogen producer, announced plans to launch a 30-ton per day liquid hydrogen production plant in eastern China in 2022. The project, based in Haiyan county in Zhejiang province, would be the first large-sized commercial liquid hydrogen plant in China and the largest of its kind in Asia.
- In August 2020, Linde announced that its U.S. auxiliary, Praxair, Inc., will start working under the Linde name, viable 1 September 2020. The change in name mirrors the organization’s advancement following the consolidation of Praxair, Inc., Linde AG.
- In July 2020, Air Liquide and NLMK, which is a leading steel producer in Russia, entered into a new long-term partnership. Air Liquide will configure, fabricate, own, and work another air division unit adhering to more elevated industry norms in wellbeing, effectiveness, and quality. The unit, with a creation limit of 1,000 tons of oxygen each day, will be based on the Lipetsk site to build steel creation of the lead site of NLMK.
- Freezing segment revenue is expected to expand at a rapid growth rate during the forecast period due to rapid increase in storage and supply chain centers for food and beverages.
- Meat and seafood segment accounted for a significantly high revenue share in the food-grade gases market in 2020, attributable to increasing demand for frozen food products globally.
- North America accounted for the largest revenue share contribution to the global food-grade gases market in 2020. Robust economic stability, rapid industrial growth, and increasing demand for frozen food products among consumers in countries in the region are some key factors driving market growth.
- Key players in the market include Air Liquide, Air Products and Chemicals, Inc., AIR WATER INC, Coregas, Gulf Cryo, Linde plc, SOL Spa, TAIYO NIPPON SANSO CORPORATION, Massy Gas Products (Trinidad) Ltd., Messer Group., Gruppo SIAD, and Praxair Technology, Inc.
