GCC Dry Ice Market Analysis, Size, and Share by 2028

The GCC dry ice market is expected to grow from US$ 19.01 million in 2022 to US$ 24.78 million by 2028, registering a CAGR of 4.5% from 2022 to 2028.

Dry ice is the solid form of carbon dioxide. It is commonly used for temporary refrigeration as CO₂ does not exist in a liquid state at normal atmospheric pressure and sublimates directly from the solid state to the gas state.

The increased awareness regarding the superior properties of dry ice over water-based ice is driving the GCC dry ice market growth. Dry ice can maintain lower temperature conditions than water-based ice. When it is heated, it directly changes into the gas and does not leave any residue. This cost-effective material has noncombustible and nontoxic properties. Furthermore, water-based ice have a very limited application scope, whereas dry ice have various applications, including cold grinding, dry ice blast cleaning, freeze drying, in-process cooling for the chemical and food industry, plumbing pipe repairs, sample distribution within the pharmaceutical industry, shrink fitting, special effects, etc. The versatility of dry ice and its use as an effective alternative to conventional electric power-based cooling system is expected to boost the demand for dry ice. It is also used to make carbonated drinks and soda. Dry ice provides superior cooling and longevity, which makes it suitable for the storage or transportation of products, unlike water-based ice which melts quickly. A large block of ice can provide cooling for as long as 24 hours in a vented cooler before requiring replacement. Regular ice, on the other hand, can begin to melt in 3–4 hours. Since it is made from liquefied carbon dioxide gas that has been frozen to extremely low temperatures of -109.3°F, the exceptionally cold temperature of dry ice allows packaged frozen products to stay in a frozen state for extended periods. Hence, it is essential to store frozen foodstuffs, such as ice cream. These application areas of dry ice are expected to propel the GCC dry ice market growth.

Market Insights

Rapidly Increasing Demand for Frozen Food Boosts Dry Ice Market Growth in GCC

Dry ice is a dense, snowlike substance that sublimes at −78.5°C (−109.3°F). It is used as a refrigerant, especially during the shipping of perishable products such as meat or ice cream. As the dry ice sublimes, it leaves no residue to contaminate or compromise the quality of food.  The increasing consumer preference across GCC toward convenience foods leads to an elevated demand for frozen products as they require less time and effort as compared to cooking from scratch. Moreover, preparing dishes from frozen food products is easier and less time-consuming, which makes these products suitable for consumption among consumers with busy lifestyles and dual working households. Moreover, increasing disposable income is also one of the factors that have a considerable influence on the demand for frozen food products, which ultimately supports the growth of the GCC dry ice market. The airline industry also uses dry ice for in-flight catering, keeping food chilled or frozen until ready to serve. On-board aircraft do not have any mechanical refrigeration, dry ice slices are used to preserve and maintain food temperatures within acceptable profiles. As the dry ice sublimes, it leaves no residue to contaminate or compromise the quality of food.

Type Insights

Based on type, the dry ice market is segmented into pellets, blocks, and others. In 2022, the blocks segment held the largest market share, and it is also expected to register the highest CAGR during the forecast period. Dry ice blocks are being increasingly used in commercial, transportation, and industrial applications.

GCC Dry Ice Market Share, by Type, 2021 & 2028

GCC Dry Ice Market: Strategic Insights

Rawabi Holding; Gulf Cyro; United Parcel Service of America, Inc.; Esnadee; Linde Plc; Albarrak Group Company; Asco Carbon Dioxide Ltd.; Eco Green Dry Ice; Saboo International; and Freezpak International are the key players in the GCC dry ice market. The leading players adopt strategies such as mergers and acquisitions, and product launches to expand their geographic presence and clientele.

Report Spotlights

• Progressive trends in the dry ice industry to help players develop effective long-term strategies
• Business growth strategies adopted by companies to secure growth in developed and developing markets
• Quantitative analysis of the GCC dry ice market from 2020 to 2028
• Estimation of the demand for dry ice
• Porters analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict the market growth
• Recent developments to understand the competitive market scenario and the demand for dry ice
• Market trends and outlook, and factors driving and restraining the GCC dry ice market
• Understanding the strategies that underpin commercial interest with regard to the GCC dry ice market, aiding in the decision-making process
• GCC dry ice market size at various nodes of market
• Detailed overview and segmentation of the GCC dry ice market and its industry dynamics
• GCC dry ice market size in various regions with promising growth opportunities

The "GCC Dry Ice Market Analysis to 2028" report aims to provide an overview of the market with detailed market segmentation based on type and application. Based on type, the market is segmented into pellets, blocks, and others. Based on application, the GCC dry ice market is segmented into food & beverages, storage and transportation, healthcare, industrial applications, and others. The storage and transportation segment held the largest share of the GCC dry ice market in 2022. With the rising demand to transport products at various sectors such as hotels, restaurants, supermarkets, grocery stores and the healthcare industry, the dry ice market is expected to witness significant growth in the coming years. The growing demand for dry ice as a refrigerant in the food and transportation industries is driving the growth of the global dry ice market. Dry ice transport is used to maintain the cold chain as well as for the transport and refrigerated shipping of food, perishable goods, and pharmaceutical products.

GCC Dry Ice Market Players Density: Understanding Its Impact on Business Dynamics

The GCC Dry Ice Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.