This study reports the effect of N₂ and CO₂ bubbles on dilute to dense gas-liquid two-phase bubbly flow. A shadowgraph imaging technique captured bubble images at a high spatiotemporal resolution. The recordings of bubble images allow us to compute gas fraction distribution. It requires challenging segmentation and gas-liquid interface detection approaches in image processing. Hence a novel gas contour characterization technique has been introduced in this study that analyses light intensity per pixel for quantifying the effect of local gas volume fraction. The dominant gas structure and repetitive gas pattern have also been determined here using Fourier transform-based power spectral density and 2D cross-correlation functions, respectively. Gas-liquid flow regimes of dissolved CO₂ bubbles are found quite different than that of N₂ bubbles. The plausible reasons are that gas fraction distribution at the sparger region may inhibit bubble coalescence and the positive surface charge of CO₂ bubbles acts as a barrier to the interface deformation.