At 5.7% CAGR, Europe Dry Ice Market is Projected to be worth US$ 217.27 million by 2030, says Business Market Insights

According to Business Market Insights’ research, the Europe dry ice market was valued at US$ 139.02 million in 2022 and is projected to reach US$ 217.27 million by 2030, registering a CAGR of 5.7% from 2022 to 2030. High demand for dry ice in storage and transportation and rapidly increasing demand for frozen foods are among the critical factors attributed to drive the Europe dry ice market growth.

An increase in demand for frozen foods and a rise in the usage of dry ice as refrigerant in food and shipping industries are key factors anticipated to provide growth opportunities to the Europe dry ice market. Dry ice is carbon dioxide in its solid form. This dense, snowlike substance sublimes at −78.5 °C (−109.3 °F), used as a refrigerant, especially during the shipping of perishable products such as meats or ice cream. As the dry ice sublimes, it leaves no residue to contaminate or compromise the quality of food.

Over the past few years, the lifestyle of people globally evolved dramatically. Due to hectic work schedules, people are looking for products that save time and effort. Consumers prefer ready-to-eat, microwavable, and ready-to-prepare food products as they are highly recommended for on-the-go consumption and require minimal preparation time. Moreover, the increasing working women population, high per capita income, and a rising middle-class population are key factors driving the growth of convenience food consumption globally. The number of single or two-person households is increasing in various developed countries such as the UK, and Germany. Due to the increasing number of nuclear families, the demand for prepared-to-eat, portion-controlled food increased. The market for frozen food products is also growing as they have extended shelf-life, are suitable for single-person consumption, and can be prepared in less time. Dry ice plays a crucial role in preserving the quality and safety of these frozen food products throughout their storage, transportation, and distribution.

The high demand for frozen meat & poultry, and seafood owing to the increasing awareness among consumers regarding the health benefits offered by meat and seafood favors the market. These products are low-fat and high-protein foods that can help to build muscle, boost brainpower, improve eyesight, support heart health, relieve joint discomfort, and improve skin and hair. Consumers are shifting toward a healthy lifestyle, which has led to a high demand for healthy food with nutritional value. Unlike traditional water-based ice, dry ice sublimates, transitioning directly from solid to gas, eliminating the risk of moisture accumulation and freezer burn. This makes it an ideal cooling agent for frozen food, ensuring that products remain frozen and maintain their texture, taste, and nutritional value. Hence, the surge in demand for frozen food products is ultimately bolstering the dry ice market.

On the contrary, inability of dry ice to be stored for an extended period hamper the growth of the Europe dry ice market.

Based on type, the Europe dry ice market is segmented into pellets, blocks, and others. The blocks segment held 50.4% market share in 2022, amassing US$ 70.08 million. It is projected to garner US$ 115.04 million by 2030 to register 6.4% CAGR during 2022–2030.

In terms of application, the Europe dry ice market is segmented into food and beverages, storage and transportation, healthcare, industrial applications, and others. The storage and transportation segment held 32.5% share of Europe dry ice market in 2022, amassing US$ 45.12 million. It is anticipated to garner US$ 71.89 million by 2030 to expand at 6.0% CAGR during 2022–2030.

Based on country, the Europe dry ice market is categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 21.2% share of Europe dry ice market in 2022. It was assessed at US$ 29.46 million in 2022 and is likely to hit US$ 51.10 million by 2030, registering a CAGR of 7.1% during 2022–2030.

Key players operating in the Europe dry ice market are ACP Belgium NV, Dry Ice UK Ltd, Linde Plc, Nippon Sanso Holdings Corp, Polar Ice Ltd, and SOL SpA, among others.

• In August 2021, Polar Ice Ltd. has been granted permission, with 13 conditions attached, for an extension adjoining its factory on the Laois Offaly border. The company will develop a two-story factory-type building with office accommodation, a packaging area conjoined with canopied truck loading to the rear, a truck wash, and a canopied link.

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