Dry Ice Market Growth, Trend and Prospects from 2023–2030

3 min readAug 11, 2023

Dry Ice Market Growth

The Dry Ice Market is expected to grow from USD 86.00 Million in 2022 to USD 115.40 Million by 2030, at a CAGR of 4.23% during the forecast period.

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Dry Ice Market Size

Dry Ice is a solid form of carbon dioxide, which is commonly used for various industrial, commercial, and consumer applications due to its unique properties. The global Dry Ice market is segmented based on type into Food Grade and Industrial Grade, and based on application into Food and Beverage, Industrial Cleaning, Entertainment Industrial, and Others. It is also segmented based on region into North America, Asia Pacific, Middle East, Africa, Australia, and Europe. The major players operating in the Dry Ice market are Linde, Air Liquide, Messer Group, SOL Group, Taiyo Nippon Sanso, Polar Ice, Air Products (ACP), and Hunan Kaimeite Gases. However, the Dry Ice market is also influenced by several regulatory and legal factors specific to market conditions such as increasing use in the food industry, regulations on carbon emissions, and safety standards for transportation and storage of Dry Ice. These factors are expected to have a significant impact on the growth of the Dry Ice market in the coming years.

Dry Ice Market Key Players

Mazor Key Player is listed in the Dry Ice

Linde

Air Liquide

Messer Group

SOL Group

Taiyo Nippon Sanso

Dry Ice Market Segment Analysis

The Dry Ice market has a diverse target market that includes various industries such as healthcare, food and beverage, transportation, and many more. The healthcare industry is one of the significant consumers of dry ice as it is extensively used in the transportation of vaccines, organs, and other medical products. The food and beverage industry uses dry ice in frozen food transportation, ice cream production, and carbonation in drinks. The transportation industry uses dry ice for refrigeration and to keep perishable goods fresh during transportation.

The major factors driving the revenue growth of the Dry Ice market are the increasing demand for frozen food and beverages, the rise in transportation of temperature-sensitive products, and the growth of the healthcare industry. The increasing number of government initiatives aimed at boosting the cold chain infrastructure is also positively impacting the market growth.

The latest trends being followed in the Dry Ice market include the adoption of eco-friendly production processes, the emergence of automated dry ice production machines, and the development of new applications of dry ice for industrial cleaning and entertainment purposes.

The major challenges faced by the Dry Ice market include the high cost of production, stringent regulations governing dry ice handling and storage, and the volatility of raw material prices.

The report’s main findings suggest that the Dry Ice market is set to witness significant growth in the coming years due to the increasing demand for frozen food and beverages, the rise in transportation of temperature-sensitive products, and the growth of the healthcare industry. The report also emphasizes the need for market players to adopt eco-friendly production processes and develop innovative applications of dry ice to remain competitive in the market.

In conclusion, the Dry Ice market has a diverse target market and is driven by various factors, including demand for frozen food and beverages, transportation of temperature-sensitive products, and growth of the healthcare industry. The market is witnessing new trends and facing challenges such as high production costs and stringent regulations. The report’s main findings suggest that market players should focus on developing eco-friendly production processes and innovative applications of dry ice to remain competitive.

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Market Segmentation (by Application)

Food and Beverage

Industrial Cleaning

Entertainment Industrial

Others

Market Segmentation (by Type)

Food Grade

Industrial Grade

Market Segmentation (by Region)

North America

Asia Pacific

Europe

USA

China