South & Central America Dry Ice Market Forecast to 2028 - Regional Analysis - by Type and Application

The South & Central America dry ice market is expected to grow from US$ 13.50 million in 2022 to US$ 16.28 million by 2028. It is estimated to grow at a CAGR of 3.2% from 2022 to 2028.

The Rapidly Increasing Demand for Frozen Foods Fuels South & Central America Dry Ice Market

Increase in demand for frozen foods and rise in usage of dry ice as refrigerant in food and shipping industries are anticipated to provide growth opportunities to the South & Central America dry ice market . Dry ice is carbon dioxide in its solid form, a dense, snowlike substance that sublimes at −78.5 °C (−109.3 °F), used as a refrigerant, especially during 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.

The increasing consumer preference toward convenience foods favors the increasing demand for frozen products as they require less time and effort as compared to cooking from scratch. Frozen food products consume less time and are easy to cook, consumers are preferring these products due to the busy lifestyles and dual working households. Moreover, increasing disposable income is also one such factor that has a huge influence on the demand of frozen food products which ultimately affects the market growth of the South & Central America dry ice market.

Furthermore, the high demand for frozen meat & poultry and seafood is also contributing to the market growth. The increasing awareness among consumers regarding the health benefits offered by meat and seafood is surging its demand. These products are low-fat and high-protein food that can help to build muscle, improve eyesight, boost brainpower, support heart health, relieve joint discomfort, and improve skin and hair. Consumers are shifting toward a healthy lifestyle, which has led to high demand for heathy food with nutritional value. Hence, the surge in demand of frozen food products is ultimately bolstering the market growth of the South & Central America dry ice market.

South & Central America Dry Ice Market Overview

Dry ice markets activities aim to extend and ensure the shelf life of fresh agricultural products, seafood, frozen food, and pharmaceuticals will grow substantially. According to the Brazilian Foreign Trade Secretariat statistics, from 2021 to 2022, Brazil has seen significant growth in its meat export. This fast rise is attributable to rising consumer demand due to changing lifestyles and modern technology. With rising consumer demand for frozen food products and a highly competitive market, most food processors, distributors, and retailers are transitioning from manually operated warehouse facilities to automatic deep-freeze warehouses with the widespread use of dry ice. These factors are expected to drive the South and Central American South & Central America dry ice market.

South & Central America Dry Ice Market Revenue and Forecast to 2028 (US$ Million)

South & Central America Dry Ice Market Segmentation

The South & Central America dry ice market is segmented into type, application, and country.

Based on type, the South & Central America dry ice market is segmented into pellets, blocks, and others. The blocks segment held the largest share of the South & Central America dry ice market in 2022.

Based on application, the South & Central America dry ice market is segmented into food and beverages, storage and transportation, healthcare, industrial applications, and others. The storage and transportation segment held the largest share of the South & Central America dry ice market in 2022.

Based on country, the South & Central America dry ice market is segmented into Argentina, Brazil, and the Rest of South & Central America. Brazil dominated the South & Central America dry ice market in 2022.

Air Products and Chemicals Inc; Continental Carbonic Products, Inc.; L’Air Liquide SA; and Linde Plc are some of the leading companies operating in the South & Central America dry ice market.

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