Liquid Carbon Dioxide Market Report 2026

The liquid carbon dioxide market size has grown strongly in recent years. It will grow from $6.54 billion in 2025 to $7.02 billion in 2026 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to expansion of carbonated beverage production driving demand for food-grade carbon dioxide, increased industrial use of liquid carbon dioxide for welding and shielding applications, growth in adoption of cryogenic co₂ for cooling and refrigeration processes, early utilization of supercritical co₂ in extraction and cleaning technologies, development of co₂ capture and purification systems supporting supply availability.

The liquid carbon dioxide market size is expected to see strong growth in the next few years. It will grow to $9.23 billion in 2030 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to rising adoption of supercritical co₂ for sustainable extraction and processing, growing demand for liquid co₂ in precision cooling for electronics and industrial equipment, expansion of fire suppression applications using clean-agent co₂ systems, increased deployment of carbon capture, utilization, and storage infrastructure enhancing feedstock availability, technological advancements improving liquefaction efficiency and purity levels. Major trends in the forecast period include rising demand for liquid co₂ in food and beverage processing for carbonation, cooling, and modified atmosphere packaging, expansion of cryogenic freezing and chilling applications in meat, poultry, and seafood processing, growing use of liquid co₂ in metal fabrication and welding for shielding, cleaning, and surface treatment, increasing adoption of high-purity liquid co₂ in pharmaceuticals, medical devices, and healthcare applications, capacity expansion and integration of liquid co₂ plants near fermentation, fertilizer, and refinery sites to secure feedstock and reduce logistics costs.

The rising demand for food and beverages is expected to propel the growth of the liquid carbon dioxide market going forward. Food and beverages include solid and liquid consumable products intended for human consumption, ranging from raw ingredients to processed meals and drinks. The demand for food and beverages is increasing due to the growing global population, which drives higher consumption needs. Liquid carbon dioxide is utilized in the food and beverage industry for carbonation, refrigeration, and preservation, helping maintain product quality and freshness. For instance, in June 2025, according to Statistics Canada, a Canada-based statistical agency, food and beverage sales accounted for nearly one-quarter of total retail spending in Canada in 2024. Specifically, food and beverage retailers recorded a 1.8% increase, while general merchandise retailers saw an 8.9% rise in food sales compared to 2023. Therefore, the rising demand for food and beverages is driving the growth of the liquid carbon dioxide market.

Leading companies in the liquid carbon dioxide market are investing in innovative solutions like liquid carbon dioxide carriers to enhance storage and transportation efficiency, minimize energy losses, and ensure CO₂ stability over long-distance shipments. A liquid carbon dioxide (CO₂) carrier is a specialized container or vessel designed to transport CO₂ in liquid form under tightly controlled temperature and pressure conditions. For instance, in April 2025, South Korean shipbuilder Hyundai Mipo Dockyard Co. Ltd. introduced a liquefied carbon dioxide carrier that efficiently moves captured CO₂ across long distances for storage or utilization purposes, supporting global carbon capture and decarbonization efforts. These carriers’ large capacity reduces transportation costs and provides a flexible, cost-effective alternative to pipelines, especially for distances exceeding 300 km.

In January 2025, Alto Ingredients Inc., a chemical company based in the US, acquired Kodiak Carbonic LLC for an undisclosed sum. With this acquisition, Alto Ingredients aims to optimize the use of byproduct CO₂, increase operational efficiency and profit margins, secure sustainable revenue streams, and enhance the overall value and growth potential of its Columbia facility. Kodiak Carbonic LLC is a US-based firm that specializes in processing beverage-grade liquid carbon dioxide.

Major companies operating in the liquid carbon dioxide market are Linde plc, Air Liquide Deutschland GmbH, Air Products and Chemicals Inc., Messer Group GmbH, BOSCO India, Westfalen AG, SOL Group, Matheson Tri-Gas Inc., Gulf Cryo Holding, Continental Carbonic Products Inc., Praxair Inc, INOX Air Products Private Limited, BOC Ltd., Goyal MG Gases Pvt. Ltd., SICGIL Industrial Gases Limited, Southern Industrial Gas Sdn Bhd, Coregas Pty Ltd., Axcel Industrial Gases Pvt. Ltd., Bathinda Industrial Gases Pvt. Ltd., UIG Universal Cryo Gas LLC, Sri Venkateswara Carbonic Gases Private Limited, Iwatani Corporation.

North America was the largest region in the liquid carbon dioxide market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the liquid carbon dioxide market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs on industrial gases, equipment, and related feedstocks are reshaping the liquid carbon dioxide market by raising import costs for CO₂, storage tanks, and cryogenic handling systems, particularly in cross-border trade between North America, Europe, and Asia-Pacific. Higher duties increase prices for food-grade and pharmaceutical-grade segments as well as for applications in food and beverage, oil and gas, and metallurgical industries, with natural and synthetic production sites that rely on imported technology being most exposed. Distributors and direct sales channels importing finished liquid CO₂ or bulk tanks face margin pressure and occasional supply disruptions, prompting regional producers to localize manufacturing and optimize sourcing. At the same time, tariffs can favor domestic producers by improving their price competitiveness, encouraging investment in local CO₂ capture, purification, and liquefaction capacity, which can ultimately strengthen regional supply security.

The liquid carbon dioxide market research report is one of a series of new reports that provides liquid carbon dioxide market statistics, including the liquid carbon dioxide industry's global market size, regional shares, competitors with the liquid carbon dioxide market share, detailed liquid carbon dioxide market segments, market trends and opportunities, and any further data you may need to thrive in the liquid carbon dioxide market. This liquid carbon dioxide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Liquid carbon dioxide is the compressed and cooled form of carbon dioxide gas, kept under high pressure and low temperature conditions. It is a colorless and odorless liquid primarily utilized as a solvent, refrigerant, and in fire suppression systems. This substance facilitates efficient cooling, cleaning, and extraction operations in industrial, food, and environmental sectors.

The production of liquid carbon dioxide mainly stems from two sources: natural and synthetic. The natural source involves obtaining liquid carbon dioxide (LCO₂) from naturally occurring CO₂ reservoirs, such as underground geological formations. Liquid CO₂ is available in multiple purity grades, including industrial, food, and pharmaceutical grades, and is distributed through various channels like direct sales, distributors, online platforms, and retail outlets. Its key applications cover the food and beverage sector, oil and gas industry, medical and healthcare fields, chemical manufacturing, and metallurgical processes. The end-users include industries such as manufacturing, food processing, healthcare, agriculture, and research and development.

The countries covered in the liquid carbon dioxide market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The liquid carbon dioxide market consists of sales of supercritical liquid carbon dioxide, carbonated beverages carbon dioxide grade, welding-grade carbon dioxide, and cryogenic liquid carbon dioxide. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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