DRY ICE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2025-2032)

Dry Ice Market Size and Trends Forecast – 2025 - 2032

The dry ice market is estimated to be valued at USD 1.67 Bn in 2025 and is expected to reach USD 2.79 Bn by 2032, exhibiting a compound annual growth rate (CAGR) of 7.6% from 2025 to 2032.

To learn more about this report, Download Free Sample

Key Takeaways of the Dry Ice Market

• The sliced segment is expected to account for 40.1% of the market share in 2025.
• The liquid CO2 method segment is expected to hold 50.3% share of the market in 2025.
• The food & beverage segment is expected to account for 39.2% of the market share in 2025.
• Asia Pacific is projected to lead the global market with a 33.8% share in 2025, followed by the North America region, which is expected to hold a 30.2% share in 2025.

Market Overview

Dry ice is increasingly being used for various applications such as food freezing, medial purposes, entertainment industry, etc. Rapid growth in the pharmaceutical industry and increasing demand for frozen foods are some key factors augmenting the demand for dry ice. Moreover, growing exports of seafood, meat, and other perishable products are also propelling the consumption of dry ice for transportation and storage purposes.

However, environmental concerns around dry ice sublimation could restrain market growth to some extent.

Market Concentration and Competitive Landscape

To learn more about this report, Download Free Sample

Current Events and Its Impact

Uncover macros and micros vetted on 75+ parameters: Get instant access to report

Market Trends

Growth in Cold Chain Logistics and Transportation

The expansion of cold chain logistics and transportation systems is significantly propelling the growth of the dry ice market, as these infrastructure improvements are critical for maintaining the integrity of temperature-sensitive products during transit. Cold chain logistics, which encompass a series of temperature-controlled environments, rely heavily on dry ice due to its excellent cooling properties and ability to maintain sub-zero temperatures without leaving any residue. This is particularly vital for pharmaceuticals, vaccines, and perishable foods, which require consistent low temperatures to preserve their efficacy and freshness during long-distance transportation.

Segmental Insights

To learn more about this report, Download Free Sample

Dry Ice Market Insights, by Type: Ease of Transportation and Storage Drives Demand for Sliced Dry Ice

In terms of type, the sliced segment is expected to contribute 40.1% share of the market in 2025, owing to its convenience in transportation and storage.

Sliced dry ice pieces can be easily packed into smaller containers and shipped to customers without taking up excessive space. Its uniform thin slices also melt at a gradual, predictable rate, making it simple to estimate dry ice requirements for refrigeration during transport. Sliced dry ice is the preferred format for many food and pharmaceutical deliveries where precise temperature control is crucial over long distances. Its slices stack compactly yet maintain an extensive sublimating surface area inside packaging.

Dry Ice Market Insights, by Production Method: Liquid CO2 Method Optimizes Production Efficiency

Among the production method segment, the liquid CO2 method segment is expected to contribute 50.3% share of the market in 2025, owing to advantages in yield and economics.

This involves liquefying carbon dioxide gas at high pressure, then releasing it to atmospheric conditions where it immediately transitions to its solid dry ice state. By liquefying CO2 at the source, this method maximizes the amount obtained from each batch. Up to 30% more dry ice can be produced per unit of liquefied CO2 compared to other processes

Dry Ice Market Insights, by Application: Critical Preservation Needs Drive Food & Beverage Demand

Within the application segment, the food & beverage segment is expected to contribute 39.2% share of the market in 2025, owing to dry ice's necessity in temperature-controlled supply chains.

Perishable and chilled foods require uninterrupted refrigeration from source all the way to consumers' tables to avoid spoilage. Seafood, meat, dairy, and delicate produce all face safety and quality risks if temperatures rise even slightly during cargo hauls. Dry ice maintains constant sub-zero conditions inside truck trailers and shipping containers without introducing moisture that can damage contents. This allows global sourcing of raw materials without refrigerated vehicles or extra insulated packaging.

Emerging Innovations in the Dry Ice Market

• The Introduction of these Advanced Production Technologies
  • The introduction of these advanced production technologies and product formats profoundly impacts the dry ice market by expanding its usability and enhancing operational efficiency. Energy-efficient production techniques have lowered barriers to entry for new players, particularly small- and medium-sized enterprises, stimulating competition and innovation within the market. Moreover, sustainable manufacturing practices attract industries that are increasingly under pressure to adopt greener solutions, thereby broadening the demand base.
• Portable Dry Ice Generators
  • Portable dry ice generators change the traditional supply chain paradigm by decentralizing production. This shift significantly reduces logistical complexities and costs, particularly in emerging markets where cold chain infrastructure might be underdeveloped. As a result, industries such as food retail, fisheries, and healthcare in these regions can now access dry ice more reliably, improving overall product quality and market reach.

Impacts of Artificial Intelligence (AI) on the Dry Ice Market

Artificial Intelligence (AI) is revolutionizing industries worldwide, and the dry ice market is no exception. From optimizing production processes to enhancing supply chain logistics and improving customer experiences, AI’s integration presents significant opportunities for companies operating in this niche sector.

• Cold Jet is a company specializing in dry ice blasting and cleaning solutions. Cold Jet employs AI algorithms for real-time supply chain analytics to optimize delivery routes and inventory levels. This use of AI ensures timely distribution of dry ice, which is critical given dry ice’s sublimation properties and short shelf life. The AI-driven system helps Cold Jet reduce waste, enhance delivery punctuality, and improve cost-efficiency, ultimately adding significant value for customers who rely on consistent, quality dry ice supply.
• Air Products and Chemicals is a global leader in industrial gases that has integrated AI into its core operations. By implementing AI-based predictive maintenance and automated monitoring systems at its dry ice production plants, Air Products enhances equipment uptime, reduces downtime, and improves overall plant efficiency. This strategic move enables the company to meet rising demand with greater reliability while minimizing operational costs.

Regional Insights

To learn more about this report, Download Free Sample

Asia Pacific Dry Ice Market Analysis and Trends

The Asia Pacific region is expected to lead the market in 2025, capturing 33.8% of the total market share. This dominance is driven by the strong presence of key industries such as food and beverages, healthcare, and electronics. Known for its early adoption of advanced technologies, the region has experienced a rising demand for dry ice in applications like packaging and shipping. Additionally, stringent regulations regarding safety and product quality have boosted the use of dry ice as a reliable cooling medium.

For instance, the most professional dry ice machine manufacturer, Magicball is the TOP1 manufacturer in China. It has led China for 15 years as the largest dry ice make manufacturer.

North America Dry Ice Market Analysis and Trends

North America is projected to secure 30.2% of the dry ice market share in 2025, demonstrating the fastest growth among regions. This growth is fueled by an expanding middle-class population, a thriving manufacturing sector, and advancements in cold chain logistics. Additionally, local companies such as Airgas Dry Ice have stepped up to meet the increasing demand across various industries.

In June 2025, Linde announced that it is doubling the capacity of its Freeport, Texas, carbon dioxide (CO₂) production facility by adding a second CO₂ liquefaction plant. Starting up in 2027, the new plant will liquefy crude CO₂ captured from MEGlobal America's Oyster Creek ethylene glycol facility, which Linde also supplies with oxygen from its Freeport air separation plant.

Buske Logistics has been a trusted provider of third-party logistics (3PL) and cold chain logistics services since 1923, specializing in warehousing, transportation, and distribution. With over 37 locations across the U.S. and Canada, the company supports industries such as automotive, food and beverage, and consumer goods.

Global Dry Ice Market Outlook for Key Countries

U.S Dry Ice Market Analysis and Trends

The U.S. is the largest market for dry ice, driven by its extensive use in the healthcare and food sectors. The U.S. is making significant investments in infrastructure and cold storage facilities, which are key drivers of dry ice consumption.

Germany Dry Ice Market Analysis and Trends

Germany dry ice market is expanding due to increasing demand in the pharmaceutical and food industries. The country is focusing on sustainable practices, with many companies opting for dry ice produced from recycled CO2. This aligns with the European Union's environmental regulations aimed at reducing carbon footprints, such as the EU Emissions Trading System (EU ETS).

China Dry Ice Market Analysis and Trends

China dry ice market is rapidly growing, fueled by the booming e-commerce sector and the need for efficient cold chain logistics. The country is investing heavily in its cold chain infrastructure, with a report of the IIR published in 2022, indicating that the cold chain logistics market is expected to reach USD 100 billion by 2025, enhancing the demand for dry ice.

India Dry Ice Market Analysis and Trends

The Indian dry ice market is experiencing significant growth, driven by increasing demand from the healthcare sector, particularly for vaccine storage and transportation. Government initiatives to enhance healthcare logistics, including improvements in cold chain facilities, are further propelling this demand. In 2023, the Indian government announced investments to bolster the pharmaceutical supply chain, aiming to reduce import dependence and enhance supply chain resilience.

Pricing Analysis of the Dry Ice Market

• Brands & Examples
  • ASCO Dry Ice: Well-recognized for pellet and block dry ice for food-grade quality with pricing around USD2.00/lb for retail quantities.
  • Dry Ice Corp (US): Offers pellets typically at USD1.50-USD2.00/lb for commercial buyers.
• Geographic Pricing Variability
  • North America: Well-developed infrastructure, many local suppliers. Average price ranges from USD1.00 to USD3.50 per lb based on grade and use.
  • Europe: Higher raw material and regulatory costs push prices nearer USD2.00-USD4.00 per lb especially for pharmaceutical-grade.
  • Asia-Pacific: Expanding industrial usage but less mature supply chain; prices average USD1.50-USD3.00 per lb.
  • Latin America & Africa: Limited supply sources, with logistics premiums pushing prices to USD3.00-USD5.00 per lb in some areas.

Market Report Scope

Dry Ice Market Report Coverage

Dry Ice Industry News

• In January 2025, in close cooperation, Nippon Gases Deutschland and the HOYER Group bring into operation the first hydrogen-powered truck to transport dry ice. The vehicle, which is specially equipped for the operation, was officially handed over to Nippon Gases Deutschland and the HOYER Group.
• In January 2025, the toolcraft AG developed the SupportBlaster 320-HA to significantly improve the time-consuming manual removal of support structures. This is a system that uses dry ice blasting to efficiently and precisely remove supports from additively manufactured components.
• In October 2024, TAPI the first API manufacturer to partner with Envirotainer AB, introducing their revolutionary -70°C dry ice shipping solution, CryoSure, to customers. This innovative technology is currently the only one of its kind on the market, enabling both local and global access to safe distribution of pharmaceuticals and patient samples.
• In May 2025, American Welding & Gas Inc. (AWG), a leading producer and distributor based in North Carolina, expanded its presence in the Midwest with the acquisition of Grant Haberg, a well-established dry ice supplier headquartered in Indiana. The acquisition is part of AWG’s ongoing strategy to grow its national footprint and deepen its reach into key regional markets.

Analyst View

• The dry ice market is witnessing significant traction, driven primarily by its expanding applications across various industries such as food processing, pharmaceuticals, and logistics. One of the primary drivers is the growing demand for refrigerated transportation and cold chain solutions, which ensure product freshness and safety, especially for perishable goods and temperature-sensitive pharmaceuticals. Additionally, the rising preference for environmentally friendly cooling agents compared to traditional refrigerants is fueling dry ice adoption.
• However, the market faces certain restraints including the high cost of production and storage challenges due to the sublimation property of dry ice, which limits its long-term usability. Moreover, safety concerns related to handling and transportation require stringent regulations, impacting market growth to some extent.
• Opportunities are emerging from the increasing use of dry ice in innovative cleaning techniques, such as dry ice blasting, which is gaining popularity in manufacturing and automotive sectors for its eco-friendly and non-abrasive nature. Furthermore, growing awareness regarding sustainable and green technologies presents potential for further market penetration.
• Geographically, North America dominates the market, attributed to advanced infrastructure in cold chain logistics and significant pharmaceutical manufacturing activities. Meanwhile, the Asia-Pacific region is the fastest-growing market, driven by rapid industrialization, increasing adoption of frozen food products, and expanding healthcare sectors.

Market Segmentation

• By Type Insights (Revenue, USD Billion, 2020 - 2032)
• Sliced
• Pellets
• Blocks
• Others
• By Production Method Insights (Revenue, USD Billion, 2020 - 2032)
• Liquid CO2 Method
• Dry Ice Pellets from CO2 Gas
• Others
• By Application Insights (Revenue, USD Billion, 2020 - 2032)
• Food & Beverage
• Healthcare
• Manufacturing
• Others
• Regional Insights (Revenue, USD Billion, 2020 - 2032)
• North America
• U.S.
• Canada
• Latin America
• Brazil
• Argentina
• Mexico
• Rest of Latin America
• Europe
• Germany
• U.K.
• Spain
• France
• Italy
• Russia
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• ASEAN
• Rest of Asia Pacific
• Middle East
• GCC Countries
• Israel
• Rest of Middle East
• Africa
• South Africa
• North Africa
• Central Africa
• Key Players Insights
• Linde plc
• Air Products and Chemicals, Inc.
• Continental Carbonic Products, Inc.
• Messer Group GmbH
• Praxair Technology, Inc.
• The Ice Company
• Ice-Box
• American Dry Ice
• Dry Ice Corp.
• Polar Ice
• Cryo-Cell International, Inc.
• A.G. Halls
• Kauffman’s
• Yara International ASA
• INEOS Group Holdings S.A.

Sources

Primary Research Interviews

• Dry Ice Manufacturers
• Distributors and Suppliers
• End-Users from Food & Beverage Industry
• Cold Chain Logistics Providers
• Others

Magazines

• Chemical Engineering News
• Industrial Gases World
• Cryogenics Magazine
• Others

Journals

• Journal of Applied Chemistry
• International Journal of Refrigeration
• Journal of Industrial Gases Technology
• Others

Newspapers

• The Financial Times
• The Wall Street Journal
• Bloomberg
• The Economic Times
• Others

Associations

• The Compressed Gas Association (CGA)
• International Institute of Refrigeration (IIR)
• Industrial Gas Manufacturers Association (IGMA)
• Others

Public Domain Sources

• U.S. Energy Information Administration (EIA)
• World Bank Open Data
• International Trade Centre (ITC)
• Others

Proprietary Elements

• CMI Data Analytics Tool – Dry Ice Market
• CMI Existing Repository of Information for the Last 8 Years