Dublin, April 15, 2024 (GLOBE NEWSWIRE) -- The "Asia Pacific Dry Ice Market Forecast to 2028 - Regional Analysis - by Type and Application" report has been added to ResearchAndMarkets.com's offering.
The Asia Pacific dry ice market is projected to experience significant growth, according to a recent industry analysis, moving from a valuation of US$ 91.57 million in 2022 to an impressive forecast of US$ 133.80 million by 2028.
With an expected compound annual growth rate (CAGR) of 6.5% from 2022 to 2028, this market is set to undergo transformative development, spurred by the increasing demand for frozen foods across the region. The surge in convenience food consumption is one of the key factors driving the Asia Pacific dry ice market.
Consumers, pressed for time and seeking ease in meal preparation, are turning to frozen products as a solution. This trend is further bolstered by rising disposable incomes, which augments purchasing power for premium frozen food products. Furthermore, the market is witnessing a rise in the demand for high-quality frozen meat, poultry, and seafood products, catering to a growing consumer base keen on maintaining a healthy diet rich in protein while also seeking out convenience.
Robust Pharmaceutical Sector Boosts Dry Ice Demand in Asia Pacific
The growing pharmaceutical industry in the Asia Pacific region constitutes a major factor contributing to the expansion of the dry ice market. With populous nations such as China, Japan, and India at the forefront of pharmaceutical production, the need for reliable refrigerants, such as dry ice, for the purpose of shipping and storing temperature-sensitive products is growing at an exponential rate.
Government initiatives aimed at spurring pharmaceutical growth, coupled with an expanding healthcare infrastructure, serve to underpin the robust demand for dry ice, confirming its essential role in the healthcare supply chain.
- Pellets, Blocks, and More: Market segmentation analysis reveals that blocks led the type segment in market share during 2022.
- Critical Applications: Storage and transportation emerged as the leading application segment for dry ice, indicating the pivotal role of this substance in logistics and supply chain efficiency.
- Regional Dominance: China's robust market activities have placed it as the dominant force within the Asia Pacific dry ice market.
With the presence of key industry players such as Air Products and Chemicals, Inc, L’Air Liquide and Linde, the market is well-poised to harness the growing opportunities presented by the evolving consumer and industrial landscapes.
This report serves as an indispensable resource for stakeholders, investors, and participants looking to understand the dynamics of the Asia Pacific dry ice market. It offers valuable insights, pinpointing the definitive trends and factors that are shaping market growth, thereby enabling informed strategic planning and decision-making.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 100 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value in 2022 | 91.57 Million |
| Forecasted Market Value by 2028 | 133.8 Million |
| Compound Annual Growth Rate | 6.5% |
| Regions Covered | Asia Pacific |
Key Topics Covered:
1. Introduction
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
4. Asia Pacific Dry Ice Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Asia Pacific 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 Dry Ice Increasing Preference for Dry Ice over Water-based Ice
5.2 Market Restraints
5.2.1 The Inability of Dry Ice to be Stored for an Extended Period
5.3 Market Opportunities
5.3.1 The Rapidly Increasing Demand for Frozen Foods
5.4 Future Trends
5.4.1 Use of Dry Ice for Creating Special Effects
5.5 Impact Analysis of Drivers and Restraints
6. Asia Pacific Dry Ice - Market Analysis
6.1 Asia Pacific Dry Ice Market Overview
6.2 Asia Pacific Dry Ice Market -Revenue and Forecast to 2028 (USD Million)
7. Asia Pacific Dry Ice Market Analysis - By Type
7.1 Overview
7.2 Asia Pacific Dry Ice Market, By Type (2021 and 2028)
7.3 Pellets
7.4 Blocks
7.5 Others
8. Asia Pacific Dry Ice Market Analysis - By Application
8.1 Overview
8.2 Asia Pacific Dry Ice Market, By Application (2021 and 2028)
8.3 Food and Beverages
8.4 Storage and Transportation
8.5 Healthcare
8.6 Industrial Applications
8.7 Others
9. Asia Pacific Dry Ice Market - Country Analysis
9.1.1 Asia Pacific Dry Ice Market, by Key Country
9.1.1.1 Australia: Asia Pacific Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.2 China: Asia Pacific Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.3 India: Asia Pacific Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.4 Japan: Asia Pacific Dry Ice Market -Revenue and Forecast to 2028 (US$ Million)
9.1.1.5 South Korea: Asia Pacific Dry Ice Market -Revenue and Forecast to 2028 (US$ Million)
9.1.1.6 Rest of Asia Pacific: Asia Pacific Dry Ice Market -Revenue and Forecast to 2028 (US$ Million)
10. Company Profiles
- Air Products and Chemicals, Inc.
- L’Air Liquide SA
- Linde Plc
- Sicgil India limited
For more information about this report visit https://www.researchandmarkets.com/r/5smlo2
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