Latin America Food Grade Industrial Gases Market by Type (Carbon Dioxide, Nitrogen and Oxygen) by Application (Freezing and Chilling, Packaging and Carbonation), by Product Type (Meat, Fish & Seafood, Dairy & Frozen Products, Beverages, Fruits & Vegetables, Convenience Foods and Bakery & Confectionery) and by Region
According to the report Latin America Food Grade Industrial Gases market, published by Market Data Forecast, the Market was worth USD 0.73 billion in 2016 and estimated to be growing at a CAGR of 7.2%, to reach USD 1.03 billion by 2021.
Industrial gases are gaseous resources that are manufactured for utilization in Industry. Industrial gas is sold to other manufacturing enterprises; usually comprising huge orders to commercial industrial clients, covering a size range from building a development facility or pipeline down to cylinder gas supply.
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The increase in the industrial area in promising regions such as Latin America has aided urbanization, which has resulted in high disposable income, leading to augmented use of packaged and ready to cook food.
This factor is estimated to enhance the growth of the food grade industrial market in the next few years. The relevance of vacuum pumps for removing moisture and oxygen in packaging of food & beverage is likely to foreseen increasing trend in the past few years and probable to have a negative impact on food grade industrial gases market over the forecast period.
Latin 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.
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Geographically the market is segmented into Mexico, Brazil and Argentina. Mexico is the dominating market in Latin America region and predicted to continue its dominance over the forecast period.
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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