UK and UAE Dry Ice Market Growth Insights | 2030
The UK and UAE dry ice market was valued at US$ 37.38 million in 2022 and is projected to reach US$ 52.83 million by 2030; it is expected to record a CAGR of 5.5% from 2022 to 2030
MARKET ANALYSIS
The UK and UAE dry ice market has experienced notable growth in recent years, driven by increasing demand across various industries. Primarily composed of solid carbon dioxide, dry ice finds widespread applications in shipping and transportation, food preservation, and medical and pharmaceutical industries. The rise of e-commerce and the need for efficient cold chain logistics have significantly contributed to the surge in demand for dry ice, particularly in the transportation of perishable goods. Additionally, the healthcare industry’s reliance on dry ice for temperature-sensitive shipments, such as vaccines and medical samples, has further facilitated the expansion of the UK and UAE dry ice market share. As environmental concerns intensify, the eco-friendly nature of dry ice, which sublimates without leaving residues, has positioned it as a preferred cooling solution. Further, the UK and UAE dry ice market trends include ongoing technological advancements and evolving sustainability priorities across diverse industries.
GROWTH DRIVERS AND CHALLENGES
The logistics industry is proliferating and providing several opportunities for the UK and UAE dry ice market growth. Dry ice is used in transportation to maintain the temperature during the transmission of food, perishable goods, and pharmaceutical products.
Dry ice is crucial in food storage. Both restaurants and supermarkets use dry ice to keep food fresh in storage and for display in open containers. Dry ice helps to keep the food fresh for a long period and helps with the bacterial removal of mildew during food shipping. Food preparation and storage require strict regulations, due to which dry ice has been playing a major role in commercial kitchens, restaurants, and supermarkets. Dry ice is also used in freeze-drying. Freeze drying by dry ice happens at extremely low temperatures during sublimation; this is less damaging than other methods of dehydration, and it does not affect the appearance or flavor of food products. Freeze-dried products can be stored at room temperature for long periods without deterioration or spoilage. Thus, the rising demand for dry ice from the food and transportation industries is driving the UK and UAE dry ice market growth.
Dry ice evaporates and does not leave any water residue. This property of dry ice also helps in product storage in the medical industry. Dry ice is also used for storing pharmaceutical products such as organs, medical drugs, and test samples. Furthermore, doctors also use dry ice to store biological samples as they can be kept fresh for a long time. Dry ice is a cost-effective solution for specialized freezers or in case of a power outage. 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, and dry ice slices are used to preserve and maintain food temperature. As the dry ice sublimes, it leaves no residue to contaminate or compromise the quality of food. Thus, various advantages of dry ice for efficient storage and transportation contribute to the growing UK and UAE dry ice market size.
Dry ice cannot be stored for a long time as it sublimates within 18 to 24 hours. Dry ice is frozen carbon dioxide (CO2). In the dry ice manufacturing process, pure CO2 gas is first pressurized and cooled to turn it into a liquid. The liquefied CO2 is then fed into a dry ice production machine, where the pressure is released, a process that creates CO2 snow that is then compressed into pellets or blocks of dry ice. The surface temperature of dry ice is –109.3°F (–57°C). Above this temperature, dry ice sublimes, i.e., it turns directly into a gas without first becoming liquid. It is crucial to store dry ice carefully at a proper temperature. CO2 is about one and a half times heavier than air and can displace oxygen in small or enclosed spaces. Even a relatively small piece of dry ice can produce a large quantity of CO2 gas if it sublimes quickly. The inability of dry ice to be stored for a longer period creates storage problems, thereby restraining the expansion of the UK and UAE dry ice market.
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UK and UAE Dry Ice Market: Strategic Insights
Market Size Value in US$ 37.38 million in 2022 Market Size Value by US$ 52.83 million by 2030 Growth rate CAGR of 5.5% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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UK and UAE Dry Ice Market: Strategic Insights
| Market Size Value in | US$ 37.38 million in 2022 |
| Market Size Value by | US$ 52.83 million by 2030 |
| Growth rate | CAGR of 5.5% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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REPORT SEGMENTATION AND SCOPE
The "UK and UAE Dry Ice Market Report" is a specialized and in-depth study with a major focus on market trends and opportunities. The report aims to provide an overview of the market with detailed market segmentation based on type, application, and country. The report provides key statistics on dry ice use and demand in major countries. In addition, it presents a qualitative assessment of various factors affecting the dry ice market performance in major regions and countries. The report also includes a comprehensive dry ice market analysis of the leading market players and their key strategic developments. The UK and UAE dry ice market report analysis helps identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying major revenue shares. Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the market. This helps understand the entire supply chain and various factors affecting the UK and UAE dry ice market.
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SEGMENTAL ANALYSIS
The UK and UAE dry ice market is segmented on the basis of type and application. Based on type, the market is segmented into pellets, blocks, and others. The blocks system segment held a significant UK and UAE dry ice market share in 2022. 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. Compared to pellets and slices with the same weight, a dry ice block has less surface area, and it takes longer to sublimate and lasts longer than other forms of the same weight. Dry ice blocks are ideal for cold jet blasting machines. The oilfield, for example, benefits greatly from the use of dry ice blocks and blasting, particularly in cleaning radiators.
By application, the UK and UAE dry ice market is segmented into food and beverages, storage and transportation, healthcare, industrial applications, and others. The storage and transportation segment dominates the UK and UAE dry ice market. Dry ice is widely used for shipping goods as it enables the export and import of perishables. Products that rely on dry ice include fish, flowers, and herbs. Storage of perishable foods such as meat and fish depends on cold storage to maintain their good condition over time.
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REGIONAL ANALYSIS
The report provides a detailed country overview of the UK and UAE dry ice market. The UK dominated the market in 2022. The dry ice market in the UK was valued at more than US$ 25 million in 2022. However, the market in the UAE is expected to register a significant CAGR from 2022 to 2030. Rapid industrialization coupled with urbanization in the UAE strongly influences the lifestyle pattern. The growing hotel industry in the UAE is positively favoring the market. Dry ice is used increasingly in the region to keep meat, seafood, and other frozen food products fresh, especially during transportation. The UAE is also witnessing a significant increase in sales of frozen food owing to the rising consumption of convenience food and the development of the e-commerce sector.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnerships, acquisitions, and new product launches are among the major strategies adopted by the players operating in the UK and UAE dry ice market. For instance, in July 2023, IREN Ambiente and Nippon Gases collaborated to commercialize biogenic CO2. With this collaboration, the company aims to strengthen its position in the carbon dioxide and dry ice market.
In April 2023, the Nippon Gases announced cooperation with VERBIO Vereinigte BioEnergie AG to focus on the purification and liquefaction of CO2. It also announced its plans to build a plant for the further processing of CO2 into dry ice.
IMPACT OF COVID-19 Pandemic
Lockdowns, travel restrictions, and business shutdowns due to the COVID-19 pandemic adversely affected economies and industries in the UK and the UAE. The pandemic disturbed supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. These disruptions restricted the availability of raw materials and caused delays in production and increased costs, negatively impacting the UK and UAE dry ice market size.
The marketplace is recovering from the losses as governments of different countries have announced relaxation in the restrictions. Manufacturing activities are rebounding as countries gradually recover from the pandemic and vaccination efforts continue. Manufacturers are permitted to operate at full capacity to overcome the supply gap. Thus, the UK and UAE dry ice market is anticipated to witness strong growth during the forecast period.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Eco Green Dry Ice Services Oil & Gas Industries LLC, Dry Ice Dubai, Carbonic International FZCO, Saboo International FZC, Chillistick Ltd, Dry Ice Network (UK) Ltd, Nippon Gases UK Ltd, Ice N Ice, Dry Ice UK Ltd, and All About Ice Europe Ltd., are a few of the key players operating in the UK and UAE dry ice market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Application, and Country
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Scope of the Study
1.2 Market Definition and Limitation & Assumptions
1.3 Market Segmentation
2. Executive Summary
2.1 Key Market Insights
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. UK & UAE 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 User
4.3.5 List of Vendors in the Value Chain
5. UK & UAE Dry Ice Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 High Demand for Dry Ice in Storage and Transportation
5.1.2 Increasing Preference for Dry Ice over Water-based Ice
5.2 Market Restraints
5.2.1 Storage Issues
5.3 Market Opportunities
5.3.1 Increasing Demand for Frozen Foods
5.4 Future Trends
5.4.1 Rising Use of Dry Ice for Creating Special Effects
5.5 Impact Analysis of Drivers and Restraints
6. Dry Ice Market – UK Market Analysis
6.1 Dry Ice – UK Market Overview
6.2 Dry Ice – UK Market and Forecast to 2030
6.3 UK Dry Ice Market– Volume (Kilo Tons), Revenue Analysis (USD Million) – By Type, 2020-2030
6.3.1 Overview
6.3.2 Pellets
6.3.3 Blocks
6.3.4 Others
6.4 UK Dry Ice Market– Volume (Kilo Tons), Revenue Analysis (USD Million) – By Application, 2020-2030
6.4.1 Overview
6.4.2 Food and Beverages
6.4.3 Storage and Transportation
6.4.4 Healthcare
6.4.5 Industrial Applications
6.4.6 Others
7. Dry Ice Market – UAE Market Analysis
7.1 Dry Ice – UAE Market Overview
7.2 Dry Ice – UAE Market and Forecast to 2030
7.3 UAE Dry Ice Market– Volume (Kilo Tons), Revenue Analysis (USD Million) – By Type, 2020-2030
7.3.1 Overview
7.3.2 Pellets
7.3.3 Blocks
7.3.4 Others
7.4 UAE Dry Ice Market– Volume (Kilo Tons), Revenue Analysis (USD Million) – By Application, 2020-2030
7.4.1 Overview
7.4.2 Food and Beverages
7.4.3 Storage and Transportation
7.4.4 Healthcare
7.4.5 Industrial Applications
7.4.6 Others
8. Impact of COVID-19 Pandemic on UK & UAE Dry Ice Market
8.1 Pre & Post COVID-19 Impact on UK & UAE Dry Ice Market
9. Competitive Landscape
9.1 Heat Map Analysis by Key Players
9.2 Company Positioning & Concentration
10. Industry Landscape
10.1 Overview
10.2 Expansion
10.3 Partnerships
11. Company Profiles
11.1 Eco Green Dry Ice Services Oil & Gas Industries LLC
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Dry Ice Dubai
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Carbonic International FZCO
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Saboo International FZC
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Chillistick Ltd
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Dry Ice Network (UK) Ltd
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Nippon Gases UK Ltd
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 ICE N ICE
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Dry Ice UK Ltd
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 All About Ice Europe Ltd
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
List of Tables
Table 1. UK & UAE Dry Ice Market Segmentation
Table 2. UK Dry Ice Market Revenue and Forecasts To 2030 (US$ Million)
Table 3. UK Dry Ice Market Volume and Forecasts To 2030 (Kilo Tons)
Table 4. UK Dry Ice Market Revenue and Forecasts To 2030 (US$ Million) – Type
Table 5. UK Dry Ice Market Volume and Forecasts To 2030 (Kilo Tons) – Type
Table 6. UK Dry Ice Market Revenue and Forecasts To 2030 (US$ Million) – Application
Table 7. UK Dry Ice Market Volume and Forecasts To 2030 (Kilo Tons) – Application
Table 8. UAE Dry Ice Market Revenue and Forecasts To 2030 (US$ Million)
Table 9. UAE Dry Ice Market Volume and Forecasts To 2030 (Kilo Tons)
Table 10. UAE Dry Ice Market Revenue and Forecasts To 2030 (US$ Million) – Type
Table 11. UAE Dry Ice Market Volume and Forecasts To 2030 (Kilo Tons) – Type
Table 12. UAE Dry Ice Market Revenue and Forecasts To 2030 (US$ Million) – Application
Table 13. UAE Dry Ice Market Volume and Forecasts To 2030 (Kilo Tons) – Application
List of Figures
Figure 1. UK & UAE Dry Ice Market Segmentation, By Region
Figure 2. Dry Ice Market – Porter's Analysis
Figure 3. Ecosystem: UK and UAE Dry Ice Market
Figure 4. Market Dynamics: UK & UAE Dry Ice Market
Figure 5. UK & UAE Dry Ice Market Impact Analysis of Drivers and Restraints
Figure 6. UK Dry Ice Market Revenue (US$ Million), 2020 – 2030
Figure 7. UK Dry Ice Market Share (%) – Type, 2022 and 2030
Figure 8. Pellets Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9. Pellets Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 10. Blocks Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Blocks Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 12. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 13. Others Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 14. UK Dry Ice Market Share (%) – Application, 2022 and 2030
Figure 15. Food and Beverages Market Revenue and Forecasts To 2030 (US$ Million)
Figure 16. Food and Beverages Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 17. Storage and Transportation Market Revenue and Forecasts To 2030 (US$ Million)
Figure 18. Storage and Transportation Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 19. Healthcare Market Revenue and Forecasts To 2030 (US$ Million)
Figure 20. Healthcare Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 21. Industrial Applications Market Revenue and Forecasts To 2030 (US$ Million)
Figure 22. Industrial Applications Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 23. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 24. Others Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 25. UAE Dry Ice Market Revenue (US$ Million), 2020 – 2030
Figure 26. UAE Dry Ice Market Share (%) – Type, 2022 and 2030
Figure 27. Pellets Market Revenue and Forecasts To 2030 (US$ Million)
Figure 28. Pellets Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 29. Blocks Market Revenue and Forecasts To 2030 (US$ Million)
Figure 30. Blocks Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 31. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 32. Others Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 33. UAE Dry Ice Market Share (%) – Application, 2022 and 2030
Figure 34. Food and Beverages Market Revenue and Forecasts To 2030 (US$ Million)
Figure 35. Food and Beverages Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 36. Storage and Transportation Market Revenue and Forecasts To 2030 (US$ Million)
Figure 37. Storage and Transportation Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 38. Healthcare Market Revenue and Forecasts To 2030 (US$ Million)
Figure 39. Healthcare Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 40. Industrial Applications Market Revenue and Forecasts To 2030 (US$ Million)
Figure 41. Industrial Applications Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 42. Others Market Revenue and Forecasts To 2030 (US$ Million)
Figure 43. Others Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 44. Heat Map Analysis by Key Players
Figure 45. Company Positioning & Concentration
The List of Companies - UK and UAE Dry Ice Market
1. Eco Green Dry Ice Services Oil & Gas Industries LLC
2. Dry Ice Dubai
3. Carbonic International FZCO
4. Saboo International FZC
5. Chillistick Ltd
6. Dry Ice Network (UK) Ltd
7. Nippon Gases UK Ltd
8. Ice N Ice
9. Dry Ice UK Ltd
10. All About Ice Europe Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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