DRY ICE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Dry Ice Market, By Type (Sliced, Pellets, Blocks, and Others), By Production Method (Liquid CO2 Method, Dry Ice Pellets from CO2 Gas, and Others), By Application (Food & Beverage, Healthcare, Manufacturing, and Others), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)
The market is expected to grow steadily driven by increasing demand from the food and beverage industry. Dry ice is widely used for cold chain logistics in transporting perishable foods and frozen products. The growing frozen food retail sector along with rising international food trade will boost market expansion. However, environmental concerns around dry ice sublimation could restrain market growth to some extent.
Asia Pacific currently dominates the dry ice market owing to well-established food processing and logistics industries in the region. Within Asia Pacific, China accounts for the largest share. However, over the forecast period, North America is likely to emerge as the fastest growing regional market. This can be attributed to growing industrialization, food processing, and retail sectors in countries such as the U.S. Manufacturers are expanding their production capacities in Asia Pacific to leverage the growth opportunities in the region.