Dry Ice Market Size and Forecasts, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type,, Application

List of Tables

The dry ice market size was valued at US$ 587.68 million in 2022 and is expected to reach US$ 936.90 million by 2030; it is estimated to register a CAGR of 6.0% from 2022 to 2030.

Dry ice is the solid form of carbon dioxide and is commonly used for temporary refrigeration as CO2 does not have a liquid state at normal atmospheric pressure and sublimates directly from the solid state to the gas state. Dry ice is made by liquefying carbon dioxide and injecting it into a holding tank, where it's frozen at a temperature of -109° F and compressed into solid ice. In recent years, consumers have increasingly preferred dry ice over water-based ice. The benefits provided by dry ice in the pharmaceutical, machine blasting cleaning, food preservation, and entertainment industries have led to an increased demand for dry ice over water-based ice which is driving the dry ice market growth. Dry ice has lower temperatures than water-based ice, which has led to an increased demand for dry ice for storage and transportation application.

Major factor contributing to the growing dry ice market size is the high demand for dry ice in storage and transportation. According to the Food and Agriculture Organization (FAO), food loss and waste cause ~US$ 940 billion per year in economic losses. While 17% of the world's food is wasted at the consumption stage, 14% is lost during the distribution, handling, and storage stages. The FAO estimates that US$ 400 billion of perishable food is wasted annually, of which half is lost due to temperature changes. Dry ice, solid carbon dioxide (CO2) at extremely low temperatures, is used extensively as a refrigerant and cooling agent in the storage and transportation sector.

Based on type, the dry ice market is segmented into pellets, blocks, and others. In 2022, the blocks segment held the largest dry ice market share. The solid blocks of dry ice are commonly used for temporary refrigeration as carbon dioxide does not have a liquid state at normal atmospheric pressure and sublimates directly from the solid state to the gas state. Blocks of dry ice produced in block press. Blocks of dry ice are used in cleaning industrial equipment.

In 2022, Asia Pacific dominated the dry ice market, and it is expected to continue to lead the market during the forecast period. The Asia Pacific dry ice market has increased demand for temperature-controlled logistics and distribution services for life science products and pharmaceuticals. This demand is fueled by factors such as population growth, increasing healthcare spending, and the expansion of the pharmaceutical industry in the region. The growth of the pharmaceutical industry in the region is directly influencing the growth of the dry ice market. As part of initiatives like Healthy China 2030 and similar initiatives in other Asian countries, healthcare infrastructure investments have been made, including clinics, hospitals, and research facilities.

Polar Ice; Continental Carbonic Products Inc.; Sicgil India Limited.; Linde PLC; Dry Ice UK Ltd.; Dry Ice Corp; Reliant Dry Ice; CryoCab; Praxair Technology, Inc.; and ACP are among the prominent players profiled in the dry ice market report. In addition, several other players have been studied and analyzed during the study to get a holistic view of the market and its ecosystem. The dry ice market report also consists company positioning and concentration to evaluate the performance of competitors/players in the market.

The overall global dry ice market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants in this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the dry ice market.

Product Code: TIPRE00019661

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Dry Ice Market Landscape

4.1 Overview
4.2 Porter's Five Forces Analysis
- 4.2.1 Threats of New Entrants
- 4.2.2 Threat of Substitutes
- 4.2.3 Bargaining Power of Buyers
- 4.2.4 Bargaining Power of Suppliers
- 4.2.5 Competitive Rivalry
4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors or Suppliers
- 4.3.4 End-Use Industry
- 4.3.5 List of Vendors in the Value Chain

5. Dry Ice Market - Key Market Dynamics

5.1 Dry Ice Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 High Demand for Dry Ice in Storage and Transportation
- 5.2.2 Increasing Preference for Dry Ice over Water-based Ice
5.3 Market Restraints
- 5.3.1 Inability of Dry Ice to be Stored for an Extended Period
5.4 Market Opportunities
- 5.4.1 Rapidly Increasing Demand for Frozen Foods
5.5 Future Trends
- 5.5.1 Growing Adoption of Sustainable Dry Ice Production Methods
5.6 Impact of Drivers and Restraints:

6. Dry Ice Market - Global Market Analysis

6.1 Dry Ice Market Volume (Kilo Tons), 2022-2030
6.2 Dry Ice Market Volume Forecast and Analysis (Kilo Tons)
6.3 Dry Ice Market Revenue (US$ Million), 2022-2030
6.4 Dry Ice Market Forecast and Analysis

7. Dry Ice Market Volume and Revenue Analysis - by Type

7.1 Pellets
- 7.1.1 Overview
- 7.1.2 Pellets: Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
7.2 Blocks
- 7.2.1 Overview
- 7.2.2 Blocks: Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)
7.3 Others
- 7.3.1 Overview
- 7.3.2 Others: Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons) (US$ Million)

8. Dry Ice Market Revenue Analysis - by Application

8.1 Food and Beverage
- 8.1.1 Overview
- 8.1.2 Food and Beverage: Dry Ice Market - Revenue and Forecast to 2030 (US$ Million)
8.2 Storage and Transportation
- 8.2.1 Overview
- 8.2.2 Storage and Transportation: Dry Ice Market - Revenue and Forecast to 2030 (US$ Million)
8.3 Healthcare
- 8.3.1 Overview
- 8.3.2 Healthcare: Dry Ice Market - Revenue and Forecast to 2030 (US$ Million)
8.4 Industrial Applications
- 8.4.1 Overview
- 8.4.2 Industrial Applications: Dry Ice Market - Revenue and Forecast to 2030 (US$ Million)
8.5 Others
- 8.5.1 Overview
- 8.5.2 Others: Dry Ice Market - Revenue and Forecast to 2030 (US$ Million)

9. Dry Ice Market - Geographical Analysis

9.1 Overview
9.2 North America
- 9.2.1 North America Dry Ice Market Overview
- 9.2.2 North America Dry Ice Market - Volume and Forecast to 2030 (Kilo Tons)
- 9.2.3 North America Dry Ice Market - Revenue and Forecast to 2030 (US$ Million)
- 9.2.4 North America Dry Ice Market Breakdown by Type
  - 9.2.4.1 North America Dry Ice Market Volume and Forecast and Analysis - by Type
  - 9.2.4.2 North America Dry Ice Market Revenue and Forecast and Analysis -by Type
- 9.2.5 North America Dry Ice Market Breakdown by Application
  - 9.2.5.1 North America Dry Ice Market Revenue and Forecast and Analysis -by Application
- 9.2.6 North America Dry Ice Market Revenue and Forecast and Analysis - by Country
  - 9.2.6.1 North America Dry Ice Market Volume and Forecast and Analysis - by Country
  - 9.2.6.2 North America Dry Ice Market Revenue and Forecast and Analysis -by Country
  - 9.2.6.3 United States Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.2.6.3.1 United States Dry Ice Market Breakdown by Type
    - 9.2.6.3.2 United States Dry Ice Market Breakdown by Application
  - 9.2.6.4 Canada Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.2.6.4.1 Canada Dry Ice Market Breakdown by Type
    - 9.2.6.4.2 Canada Dry Ice Market Breakdown by Application
  - 9.2.6.5 Mexico Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.2.6.5.1 Mexico Dry Ice Market Breakdown by Type
    - 9.2.6.5.2 Mexico Dry Ice Market Breakdown by Application
9.3 Europe
- 9.3.1 Europe Dry Ice Market Overview
- 9.3.2 Europe Dry Ice Market - Volume and Forecast to 2030 (Kilo Tons)
- 9.3.3 Europe Dry Ice Market - Revenue and Forecast to 2030 (US$ Million)
- 9.3.4 Europe Dry Ice Market Breakdown by Type
  - 9.3.4.1 Europe Dry Ice Market Volume and Forecast and Analysis - by Type
  - 9.3.4.2 Europe Dry Ice Market Revenue and Forecast and Analysis -by Type
- 9.3.5 Europe Dry Ice Market Breakdown by Application
  - 9.3.5.1 Europe Dry Ice Market Revenue and Forecast and Analysis -by Application
- 9.3.6 Europe Dry Ice Market Revenue and Forecast and Analysis - by Country
  - 9.3.6.1 Europe Dry Ice Market Volume and Forecast and Analysis - by Country
  - 9.3.6.2 Europe Dry Ice Market Revenue and Forecast and Analysis -by Country
  - 9.3.6.3 Germany Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.3.6.3.1 Germany Dry Ice Market Breakdown by Type
    - 9.3.6.3.2 Germany Dry Ice Market Breakdown by Application
  - 9.3.6.4 France Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.3.6.4.1 France Dry Ice Market Breakdown by Type
    - 9.3.6.4.2 France Dry Ice Market Breakdown by Application
  - 9.3.6.5 Italy Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.3.6.5.1 Italy Dry Ice Market Breakdown by Type
    - 9.3.6.5.2 Italy Dry Ice Market Breakdown by Application
  - 9.3.6.6 United Kingdom Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.3.6.6.1 United Kingdom Dry Ice Market Breakdown by Type
    - 9.3.6.6.2 United Kingdom Dry Ice Market Breakdown by Application
  - 9.3.6.7 Russia Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.3.6.7.1 Russian Federation Dry Ice Market Breakdown by Type
    - 9.3.6.7.2 Russian Federation Dry Ice Market Breakdown by Application
  - 9.3.6.8 Rest of Europe Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.3.6.8.1 Rest of Europe Dry Ice Market Breakdown by Type
    - 9.3.6.8.2 Rest of Europe Dry Ice Market Breakdown by Application
9.4 Asia Pacific
- 9.4.1 Asia Pacific Dry Ice Market Overview
- 9.4.2 Asia Pacific Dry Ice Market - Volume and Forecast to 2030 (Kilo Tons)
- 9.4.3 Asia Pacific Dry Ice Market - Revenue and Forecast to 2030 (US$ Million)
- 9.4.4 Asia Pacific Dry Ice Market Breakdown by Type
  - 9.4.4.1 Asia Pacific Dry Ice Market Volume and Forecast and Analysis - by Type
  - 9.4.4.2 Asia Pacific Dry Ice Market Revenue and Forecast and Analysis -by Type
- 9.4.5 Asia Pacific Dry Ice Market Breakdown by Application
  - 9.4.5.1 Asia Pacific Dry Ice Market Revenue and Forecast and Analysis -by Application
- 9.4.6 Asia Pacific Dry Ice Market Revenue and Forecast and Analysis - by Country
  - 9.4.6.1 Asia Pacific Dry Ice Market Volume and Forecast and Analysis - by Country
  - 9.4.6.2 Asia Pacific Dry Ice Market Revenue and Forecast and Analysis -by Country
  - 9.4.6.3 Australia Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.4.6.3.1 Australia Dry Ice Market Breakdown by Type
    - 9.4.6.3.2 Australia Dry Ice Market Breakdown by Application
  - 9.4.6.4 China Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.4.6.4.1 China Dry Ice Market Breakdown by Type
    - 9.4.6.4.2 China Dry Ice Market Breakdown by Application
  - 9.4.6.5 India Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.4.6.5.1 India Dry Ice Market Breakdown by Type
    - 9.4.6.5.2 India Dry Ice Market Breakdown by Application
  - 9.4.6.6 Japan Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.4.6.6.1 Japan Dry Ice Market Breakdown by Type
    - 9.4.6.6.2 Japan Dry Ice Market Breakdown by Application
  - 9.4.6.7 South Korea Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.4.6.7.1 South Korea Dry Ice Market Breakdown by Type
    - 9.4.6.7.2 South Korea Dry Ice Market Breakdown by Application
  - 9.4.6.8 Rest of APAC Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.4.6.8.1 Rest of APAC Dry Ice Market Breakdown by Type
    - 9.4.6.8.2 Rest of APAC Dry Ice Market Breakdown by Application
9.5 Middle East and Africa
- 9.5.1 Middle East and Africa Dry Ice Market Overview
- 9.5.2 Middle East and Africa Dry Ice Market - Volume and Forecast to 2030 (Kilo Tons)
- 9.5.3 Middle East and Africa Dry Ice Market - Revenue and Forecast to 2030 (US$ Million)
- 9.5.4 Middle East and Africa Dry Ice Market Breakdown by Type
  - 9.5.4.1 Middle East and Africa Dry Ice Market Volume and Forecast and Analysis - by Type
  - 9.5.4.2 Middle East and Africa Dry Ice Market Revenue and Forecast and Analysis -by Type
- 9.5.5 Middle East and Africa Dry Ice Market Breakdown by Application
  - 9.5.5.1 Middle East and Africa Dry Ice Market Revenue and Forecast and Analysis -by Application
- 9.5.6 Middle East and Africa Dry Ice Market Revenue and Forecast and Analysis - by Country
  - 9.5.6.1 Middle East and Africa Dry Ice Market Volume and Forecast and Analysis - by Country
  - 9.5.6.2 Middle East and Africa Dry Ice Market Revenue and Forecast and Analysis -by Country
  - 9.5.6.3 South Africa Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.5.6.3.1 South Africa Dry Ice Market Breakdown by Type
    - 9.5.6.3.2 South Africa Dry Ice Market Breakdown by Application
  - 9.5.6.4 Saudi Arabia Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.5.6.4.1 Saudi Arabia Dry Ice Market Breakdown by Type
    - 9.5.6.4.2 Saudi Arabia Dry Ice Market Breakdown by Application
  - 9.5.6.5 United Arab Emirates Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.5.6.5.1 United Arab Emirates Dry Ice Market Breakdown by Type
    - 9.5.6.5.2 United Arab Emirates Dry Ice Market Breakdown by Application
  - 9.5.6.6 Rest of Middle East and Africa Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.5.6.6.1 Rest of Middle East and Africa Dry Ice Market Breakdown by Type
    - 9.5.6.6.2 Rest of Middle East and Africa Dry Ice Market Breakdown by Application
9.6 South and Central America
- 9.6.1 South and Central America Dry Ice Market Overview
- 9.6.2 South and Central America Dry Ice Market - Volume and Forecast to 2030 (Kilo Tons)
- 9.6.3 South and Central America Dry Ice Market - Revenue and Forecast to 2030 (US$ Million)
- 9.6.4 South and Central America Dry Ice Market Breakdown by Type
  - 9.6.4.1 South and Central America Dry Ice Market Volume and Forecast and Analysis - by Type
  - 9.6.4.2 South and Central America Dry Ice Market Revenue and Forecast and Analysis -by Type
- 9.6.5 South and Central America Dry Ice Market Breakdown by Application
  - 9.6.5.1 South and Central America Dry Ice Market Revenue and Forecast and Analysis -by Application
- 9.6.6 South and Central America Dry Ice Market Revenue and Forecast and Analysis - by Country
  - 9.6.6.1 South and Central America Dry Ice Market Volume and Forecast and Analysis - by Country
  - 9.6.6.2 South and Central America Dry Ice Market Revenue and Forecast and Analysis -by Country
  - 9.6.6.3 Brazil Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.6.6.3.1 Brazil Dry Ice Market Breakdown by Type
    - 9.6.6.3.2 Brazil Dry Ice Market Breakdown by Application
  - 9.6.6.4 Argentina Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.6.6.4.1 Argentina Dry Ice Market Breakdown by Type
    - 9.6.6.4.2 Argentina Dry Ice Market Breakdown by Application
  - 9.6.6.5 Rest of South and Central America Dry Ice Market - Volume, Revenue and Forecast to 2030 (Kilo Tons)(US$ Million)
    - 9.6.6.5.1 Rest of South and Central America Dry Ice Market Breakdown by Type
    - 9.6.6.5.2 Rest of South and Central America Dry Ice Market Breakdown by Application

10. Dry Ice Market - Impact of COVID-19 Pandemic

10.1 Pre & Post Covid-19 Impact

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition

13. Company Profiles

13.1 ACP Belgium NV
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Sicgil India Ltd
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Linde Plc
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 Nippon Sanso Holdings Corp
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Dry Ice UK Ltd
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 SOL SpA
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Reliant Dry Ice Ltd
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 CryoCarb
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Polar Ice Ltd
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Continental Carbonic Products Inc
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners