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GCC Dry Ice Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type and Application

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    Report

  • 102 Pages
  • August 2022
  • Region: Middle East
  • The Insight Partners
  • ID: 5659454
UP TO OFF until Mar 31st 2024
The GCC dry ice market is expected to grow from US$ 19.01 million in 2022 to US$ 24.78 million by 2028. It is expected to grow at a CAGR of 4.5% from 2022 to 2028.

Dry ice is the solid form of carbon dioxide and is being increasingly used for temporary refrigeration. CO₂ does not have a liquid state at normal atmospheric pressure and sublimates directly from the solid state to the gas state. Dry ice is an ideal and highly-effective cooling and freezing agent for food. It is particularly convenient for in-transit cooling, where power supply may prove to be challenging.

Based on application, the dry ice market is segmented into food & beverage, storage & transportation, healthcare, industrial applications, and others. In 2021, the storage & transportation segment held the largest market share. However, the food & beverage segment is expected to register the highest CAGR in the market during the forecast period. Dry ice is being increasingly used in the maceration stage of winemaking (i.e., the time the juice from the grapes is left in contact with the fruit skin and stems) to inhibit the beginning of fermentation by rapidly reducing the temperature below 10°C. It is also being used in the meat processing industry and commercial bakeries to maintain critical temperatures to reduce product spoilage by inhibiting bacterial growth, slowing yeast growth, and delaying fermentation during production. It leaves no residue to contaminate or compromise the quality of food. Dry ice is also added in small amounts to serving trays to produce a fog effect around the food dishes.

The GCC dry ice market is segmented into Saudi Arabia, the UAE, Kuwait, Qatar, and the Rest of the GCC. The increase in cold chain storage and distribution facilities, and a rise in the import of pharmaceutical ingredients is driving the growth of the market in this region. Along with this, a surge in the imports of COVID-19 vaccines contributes to the high demand for dry ice in the GCC.

The chemicals & materials industry faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw materials and laborers, shutdown of factories, and other operational difficulties associated with COVID-19 safety protocols adversely affected the GCC dry ice market. The lockdown measures disturbed the supply chains and production of dry ice. Despite such adverse conditions, the GCC dry ice market continued to grow to some extent due to the large demand for COVID-19 vaccines, as the substance is being used for maintaining apt temperature conditions during the storage and distribution of vaccine vials.

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 leading players in the GCC dry ice market. These companies are adopting strategies, such as mergers and acquisitions, and product launches for expanding their geographic presence and consumer bases.

The GCC dry ice market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights. Participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants - including valuation experts, research analysts, and key opinion leaders - specializing in the GCC dry ice market.

Frequently Asked Questions about the GCC Dry Ice Market

What is the estimated value of the GCC Dry Ice Market?

The GCC Dry Ice Market was estimated to be valued at $19.01 Million in 2022.

What is the growth rate of the GCC Dry Ice Market?

The growth rate of the GCC Dry Ice Market is 4.5%, with an estimated value of $24.78 Million by 2028.

What is the forecasted size of the GCC Dry Ice Market?

The GCC Dry Ice Market is estimated to be worth $24.78 Million by 2028.

Who are the key companies in the GCC Dry Ice Market?

Key companies in the GCC Dry Ice Market include Rawabi Holding, Gulf Cryo, Linde Plc, Albarrak group, Asco Carbon Dioxide Inc., Ecogreen Dry Ice Services, Saboo International and Freezpak international.

Table of Contents

1. Introduction
1.1 Study Scope
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Dry Ice Market, by Type
1.3.2 Dry Ice Market, by Application
1.3.3 Dry Ice Market, by Geography
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.1.1 Dry Ice Market, by Type, and Application
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Dry Ice Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Suppliers
4.2.3 Bargaining Power of Buyers
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 End-use Industries
4.4 Expert Opinion
5. 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 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. Dry Ice- GCC Market Analysis
6.1 Dry Ice Market Overview
6.2 Dry Ice Market -Revenue and Forecast to 2028 (US$ Million)
6.3 Competitive Positioning - Key Market Players
7. Dry Ice Market Analysis - By Type
7.1 Overview
7.2 Dry Ice Market, By Type (2021 and 2028)
7.3 Pellets
7.3.1 Overview
7.3.2 Pellets: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
7.4 Blocks
7.4.1 Overview
7.4.2 Blocks: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
7.5 Others
7.5.1 Overview
7.5.2 Others: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
8. Dry Ice Market Analysis - By Application
8.1 Overview
8.2 Dry Ice Market, By Application (2021 and 2028)
8.3 Food and Beverages
8.3.1 Overview
8.3.2 Food and Beverages: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
8.4 Storage and Transportation
8.4.1 Overview
8.4.2 Storage and Transportation: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
8.5 Healthcare
8.5.1 Overview
8.5.2 Healthcare: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
8.6 Industrial Applications
8.6.1 Overview
8.6.2 Industrial Applications: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
8.7 Others
8.7.1 Overview
8.7.2 Others: Dry Ice Market - Revenue and Forecast to 2028 (US$ Mn)
9. Dry Ice Market - Geographic Analysis
9.1 GCC: Dry Ice Market
9.1.1 GCC: Dry Ice Market -Revenue and Forecast to 2028 (US$ Million)
9.1.2 GCC: Dry Ice Market, By Type
9.1.3 GCC: Dry Ice Market, by Application
9.1.4 GCC: Dry Ice Market, by Key Country
9.1.4.1 Saudi Arabia: Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
9.1.4.1.1 Saudi Arabia: Dry Ice Market, By Type
9.1.4.1.2 Saudi Arabia: Dry Ice Market, by Application
9.1.4.2 UAE: Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
9.1.4.2.1 UAE: Dry Ice Market, By Type
9.1.4.2.2 UAE: Dry Ice Market, by Application
9.1.4.3 Qatar: Dry Ice Market -Revenue and Forecast to 2028 (US$ Million)
9.1.4.3.1 Qatar: Dry Ice Market, By Type
9.1.4.3.2 Qatar: Dry Ice Market, by Application
9.1.4.4 Kuwait: Dry Ice Market -Revenue and Forecast to 2028 (US$ Million)
9.1.4.4.1 Kuwait: Dry Ice Market, by Type
9.1.4.4.2 Kuwait: Dry Ice Market, by Application
9.1.4.5 Rest of GCC: Dry Ice Market -Revenue and Forecast to 2028 (US$ Million)
9.1.4.5.1 Rest of GCC: Dry Ice Market, By Type
9.1.4.5.2 Rest of GCC: Dry Ice Market, by Application
10. Impact of COVID-19 Pandemic on GCC Dry Ice Market
10.1 Impact of COVID-19 on GCC Dry Ice Market
11. Company Profiles
11.1 Rawabi Holding
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 Gulf Cryo
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 Linde Plc
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 Albarrak group
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 Asco Carbon Dioxide Inc.
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 EcoGreen Dry Ice Services
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 SABOO INTERNATIONAL
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 Freezpak international
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
List of Figures
Figure 1. Dry Ice Segmentation
Figure 2. Dry Ice Segmentation - By Geography
Figure 3. GCC Dry Ice Market Overview
Figure 4. GCC Dry Ice Market, By Type
Figure 5. GCC Dry Ice Market, by Geography
Figure 6. GCC Dry Ice Market, Industry Landscape
Figure 7. Porter’s Five Forces Analysis of Dry Ice Market
Figure 8. Dry Ice Market, Ecosystem
Figure 9. Expert Opinion
Figure 10. Dry Ice Market Impact Analysis of Drivers and Restraints
Figure 11. Geographic Overview of Dry Ice Market
Figure 12. Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. Dry Ice Market Revenue Share, By Type (2021 and 2028)
Figure 14. Pellets: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 15. Blocks: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 16. Others: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 17. Dry Ice Market Revenue Share, By Application (2021 and 2028)
Figure 18. Food and Beverages: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 19. Storage and Transportation: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 20. Healthcare: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 21. Industrial Applications: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 22. Others: Dry Ice Market - Revenue and Forecast To 2028 (US$ Mn)
Figure 23. GCC: Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. GCC: Dry Ice Market Revenue Share, By Type (2021 and 2028)
Figure 25. GCC: Dry Ice Market Revenue Share, by Application (2021 and 2028)
Figure 26. GCC: Dry Ice Market Revenue Share, by Key Country (2021 and 2028)
Figure 27. Saudi Arabia: Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. UAE: Dry Ice Market - Revenue and Forecast to 2028 (US$ Million)
Figure 29. Qatar: Dry Ice Market -Revenue and Forecast to 2028 (US$ Million)
Figure 30. Kuwait: Dry Ice Market -Revenue and Forecast to 2028 (US$ Million)
Figure 31. Rest of GCC: Dry Ice Market -Revenue and Forecast to 2028 (US$ Million)

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Rawabi Holding
  • Gulf Cryo
  • Linde Plc
  • Albarrak group
  • Asco Carbon Dioxide Inc.
  • Ecogreen Dry Ice Services
  • Saboo International
  • Freezpak international