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    India Dry Ice Market

    ID: MRFR/F-B & N/44985-HCR
    200 Pages
    Harshita Gorade
    September 2025

    India Dry Ice Market Research Report By Dry Ice Type (Pellets, Blocks, Others) and By Dry Ice Application (Food Beverages, Storage Transportation, Healthcare, Industrial Cleaning, Others) - Forecast to 2035

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    India Dry Ice Market Summary

    The India Dry Ice market is projected to grow significantly from 29.8 USD Million in 2024 to 65 USD Million by 2035.

    Key Market Trends & Highlights

    India Dry Ice Key Trends and Highlights

    • The market is expected to witness a compound annual growth rate (CAGR) of 7.35 percent from 2025 to 2035.
    • By 2035, the market valuation is anticipated to reach 65 USD Million, indicating robust growth potential.
    • In 2024, the market is valued at 29.8 USD Million, reflecting a strong foundation for future expansion.
    • Growing adoption of dry ice in the food and beverage sector due to its efficiency in preserving products is a major market driver.

    Market Size & Forecast

    2024 Market Size 29.8 (USD Million)
    2035 Market Size 65 (USD Million)
    CAGR (2025-2035) 7.35%

    Major Players

    Universal Industrial Gases, National Gas Company, Linde plc, Gujarat Gas, Bharat Coking Coal, Sanghi Industries, Reliance Industries, Asian Gases, Air Products and Chemicals, Aegis Logistics, Mohan Gases, Chemtron Science Laboratories, Indian Oil Corporation, Praxair Technology, Inox Air Products

    India Dry Ice Market Trends

    The India Dry Ice market has received attention because of various reasons. As one of the primary factors, the rapid development of the food and beverages industry, which uses dry ice for the preservation of food both during transportation and storage, stands out. Additionally, the growth of e-commerce and the delivery of frozen foods has offered companies dry ice owing to its low-cost transportation and quality maintenance during transit.

    Moreover, the expansion of the pharmaceutical industry, with the focus on the distribution of vaccines, has increased the use of dry ice as a refrigerant due to the low temperatures required to transport sensitive products.

    Much of the opportunity lies in increasing the capacity for dry ice production and devising new designs for its usage, especially in packaging. There is adequate attention for the development of green practices, which is an advantage in the country’s environment policy, allowing producers to use such methods while enhancing market competition. This becomes an advantage for businesses because they are able to compete for differentiating their products. Lately, there has been a lot of focus on the logistics and transport industry, creating a need for better and available solutions to effectively refrigerate cargo.

    As India procures additional funds and enhances investments towards developing its cold chain infrastructure, the use of dry ice in Logistics increasing, ensuring that perishables are transported and delivered efficiently. Moreover, the government’s educational policies regarding the uses and benefits of dry ice in various field is increasing its use and further fostering the growing Indian marketing. This makes it clear that dry ice is an important factor in various key industries in India.

    Market Segment Insights

    India Dry Ice Market Segment Insights

    India Dry Ice Market Segment Insights

    Dry Ice Market Dry Ice Type Insights

    Dry Ice Market Dry Ice Type Insights

    The India Dry Ice Market is evolving rapidly, driven by increased demand in sectors such as food and beverage, pharmaceuticals, and logistics. The Dry Ice Type segment is crucial as it encompasses various forms of dry ice, including pellets, blocks, and others. Pellets of dry ice are widely recognized for their versatility and efficiency, particularly in preserving perishable goods during transportation, thus playing a significant role in cold chain logistics. Blocks, on the other hand, offer longer duration cooling effects, making them vital for shipping larger items or for storage in various industrial applications.

    The "others" category includes customized dry ice products that cater to specific needs across industries. The rising trend of e-commerce and home delivery services in India has also contributed to the growth of this segment, as businesses seek effective solutions for maintaining temperature-sensitive products. Moreover, India's growing focus on sustainability and eco-friendly practices in the food and beverage industry is prompting many companies to adopt dry ice as a refrigerant due to its efficiency and lower environmental impact compared to traditional methods.

    However, challenges such as transportation costs and the handling of dry ice in warmer climates remain, influencing how these various types are utilized across the country. Insights from regulatory bodies and industry statistics show that the demand for such refrigerated solutions is expected to persist as India continues to modernize its supply chain infrastructure. This growing utilization emphasizes the significance of the Dry Ice Type segment in the overall landscape of the India Dry Ice Market, ensuring it remains a focal point for businesses amid changing consumer preferences and market dynamics.

    Dry Ice Market Dry Ice Application Insights

    Dry Ice Market Dry Ice Application Insights

    The India Dry Ice Market, particularly focusing on the Dry Ice Application segment, showcases considerable potential and growth due to its diverse range of applications across various industries. The Food and Beverages sector is increasingly relying on dry ice for effective preservation and cooling, optimizing supply chain processes. Similarly, Storage and Transportation are pivotal in maintaining product quality, especially during transit, to prevent spoilage and ensure freshness. The Healthcare industry utilizes dry ice for medical supply storage, vaccine transportation, and laboratory applications, which has become crucial amidst growing healthcare demands.

    Industrial Cleaning also leverages dry ice for environmentally friendly cleaning solutions, making it a significant area in the market. Additionally, other applications encompass sectors such as entertainment and blasting, underscoring the versatile utility of dry ice in India's economy. With significant advancements and preferences shifting towards sustainable options, the India Dry Ice Market segmentation reflects not only current consumer needs but also future opportunities, driving overall market growth.

    Get more detailed insights about India Dry Ice Market Research Report- Forecast to 2035

    Key Players and Competitive Insights

    The India Dry Ice Market is experiencing significant growth driven by various factors such as the increasing demand for temperature-sensitive goods in sectors like food and beverage, pharmaceuticals, and logistics. The competitive landscape is characterized by several key players vying for market share, each leveraging unique strengths and capabilities to differentiate themselves. Companies in this market are focusing on product innovation, enhanced distribution networks, and sustainability practices to gain a competitive edge.

    The presence of established firms is marked by their ability to rapidly adapt to changing customer needs and regulatory environments, particularly in the wake of heightened demand due to the COVID-19 pandemic. As a result, competitive insights reveal a landscape where strategic collaborations, mergers, and investment in technology play a vital role in driving growth and ensuring a resilient supply chain for dry ice products. Universal Industrial Gases has established a noteworthy presence in the India Dry Ice Market, being recognized for its robust manufacturing capabilities and commitment to high-quality standards.

    The company has enhanced its market reach through a strategic distribution network, ensuring timely availability of dry ice across various regions in India. Its strengths lie in its strong customer relationships, skilled workforce, and an emphasis on technological advancements in production processes. By focusing on operational efficiency, Universal Industrial Gases effectively meets the diverse and evolving demands of industries relying on dry ice for critical applications. The company's proactive approach to sustainability also sets it apart, as it aligns with market trends favoring environmentally friendly practices while providing high-quality products to meet customer expectations.

    National Gas Company is another prominent player in the India Dry Ice Market, known for its extensive portfolio of products and services tailored to various industrial needs. The company specializes in providing high-grade dry ice suitable for diverse applications, including food preservation, medical storage, and transportation. National Gas Company's strengths are enhanced by a well-established distribution network that ensures efficient logistics and product availability across the country. The company has actively pursued strategic mergers and acquisitions to bolster its market presence and diversify its offerings.

    By enhancing technological capabilities and expanding its service range, National Gas Company demonstrates a commitment to innovation while effectively addressing the challenges posed by competition in the market. This strategic focus on growth and customer satisfaction cements its position as a leader in the dry ice sector within India, catering to an ever-expanding customer base across various industries.

    Key Companies in the India Dry Ice Market market include

    Industry Developments

    The India Dry Ice Market has recently witnessed significant developments, especially influenced by the increasing demand for dry ice in sectors like healthcare and food preservation. Companies such as Universal Industrial Gases and Linde plc are expanding their production capacities to meet the rising needs. In January 2023, Gujarat Gas announced plans to enhance its portfolio by increasing investments in liquefied gases, including dry ice, reflecting a trend towards market growth. 

    Notably, Inox Air Products has also been focusing on sustainability and efficient production methods, aligning with government initiatives for clean energy. In terms of mergers and acquisitions, while there have been no prominent announcements involving the listed companies, the market remains dynamic with potential partnerships on the horizon. Over the past two years, the industry's valuation has grown substantially, influenced by the surge in demand during the COVID-19 pandemic, especially from vaccine transportation needs. 

    As a result, major players like Indian Oil Corporation and Reliance Industries are strategizing to strengthen their positions within the market, paving the way for robust growth opportunities. This evolving landscape marks a critical juncture for the India Dry Ice Market in the broader industrial gas sector.

    Market Segmentation

    Dry Ice Market Dry Ice Type Outlook

    • Pellets
    • Blocks
    • Others

    Dry Ice Market Dry Ice Application Outlook

    • Food Beverages
    • Storage Transportation
    • Healthcare
    • Industrial Cleaning
    • Others

    Report Scope

    Report Attribute/Metric Details
    Market Size 2023 27.39(USD Million)
    Market Size 2024 29.79(USD Million)
    Market Size 2035 65.0(USD Million)
    Compound Annual Growth Rate (CAGR) 7.35% (2025 - 2035)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Base Year 2024
    Market Forecast Period 2025 - 2035
    Historical Data 2019 - 2024
    Market Forecast Units USD Million
    Key Companies Profiled Universal Industrial Gases, National Gas Company, Linde plc, Gujarat Gas, Bharat Coking Coal, Sanghi Industries, Reliance Industries, Asian Gases, Air Products and Chemicals, Aegis Logistics, Mohan Gases, Chemtron Science Laboratories, Indian Oil Corporation, Praxair Technology, Inox Air Products
    Segments Covered Dry Ice Type, Dry Ice Application
    Key Market Opportunities Increasing demand in pharmaceuticals, Rising applications in food preservation, Growth in cold chain logistics, Expanding use in events and entertainment, Emerging sectors like 3D printing
    Key Market Dynamics rising demand in food preservation , growth in logistics sector , increase in healthcare applications , environmental regulations favoring alternatives , technological advancements in production
    Countries Covered India

    FAQs

    What was the market size of the India Dry Ice Market in 2024?

    The India Dry Ice Market was valued at 29.79 million USD in 2024.

    What is the projected value of the India Dry Ice Market by 2035?

    By 2035, the India Dry Ice Market is projected to reach a value of 65.0 million USD.

    What is the expected compound annual growth rate (CAGR) for the India Dry Ice Market from 2025 to 2035?

    The expected CAGR for the India Dry Ice Market from 2025 to 2035 is 7.35%.

    Which dry ice type segment is expected to dominate the market in 2035?

    By 2035, the pellets segment of the dry ice type market is anticipated to dominate with a value of 28.0 million USD.

    What will be the market value of the blocks segment in the India Dry Ice Market by 2035?

    The blocks segment of the India Dry Ice Market is expected to be valued at 22.0 million USD in 2035.

    Who are the key players in the India Dry Ice Market?

    Major players in the India Dry Ice Market include Linde plc, Reliance Industries, and Indian Oil Corporation.

    What was the market size of the 'Others' segment in 2024?

    The 'Others' segment of the dry ice market was valued at 7.29 million USD in 2024.

    What are the growth drivers for the India Dry Ice Market?

    Key growth drivers include increasing demand from the food and pharmaceutical sectors for effective refrigeration solutions.

    How are the applications of dry ice influencing its market growth in India?

    The growth of applications in food preservation, transportation, and industrial uses is significantly influencing the market expansion.

    What will be the valuation of the pellets segment in 2024?

    In 2024, the pellets segment is projected to be valued at 12.5 million USD.

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    Customer Stories

    “I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.”

    Victoria Milne Founder
    Case Study

    Chemicals and Materials