Comprehensive 2025 Liquid Carbon Dioxide Market Overview: Trends, Forecasts, and Growth Drivers

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What Is the Expected CAGR for the Liquid Carbon Dioxide Market Through 2025?
In recent times, there has been a significant expansion in the liquid carbon dioxide market size. The market which stood at $6.10 billion in 2024 will escalate to $6.54 billion in 2025, recording a compound annual growth rate (CAGR) of 7.3%. This substantial growth during the historical period could be credited to factors such as increased demand from the healthcare industry, heightened requirements for dry ice production, a heightened emphasis on CO2 recycling and usage due to environmental concerns, a surge in demand emanating from the chemical processing sector, and increased application in the realms of welding and metal fabrication.

What's the Projected Size of the Global Liquid Carbon Dioxide Market by 2029?
Expectations are high for the liquid carbon dioxide market, as it is predicted to experience substantial growth in the coming years, reaching a value of $8.63 billion in 2029 with a compound annual growth rate (CAGR) of 7.2%. This anticipated escalation during the forecast period can be correlated with the mounting demand for fizzing beverages, pervasive use in the chilling and freezing of food, increasing application in fire extinguishing systems, and growing utilization in greenhouses to stimulate the growth of plants. Predominant trends to watch for within the forecast period encompass advancements in the capturing and liquefaction of CO2, integration of CO2-centric systems into industrial cooling processes, technological expansion in the manufacturing of dry ice, adoption of supercritical CO2 extraction methodologies, and novel developments in the cryogenic storage and transit systems.

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Top Growth Drivers in the Liquid Carbon Dioxide Industry: What's Accelerating the Market?
The burgeoning need for food and beverages is believed to significantly enhance the expansion of the liquid carbon dioxide market in the future. The demand is attributed to food and beverages which encompass all edible products in both solid and liquid forms, from unprocessed ingredients to fully prepared meals and drinks. The escalating consumption of food and beverages can be associated with the growing global populace, thereby leading to an increased requirement for sustenance and products. The incorporation of liquid carbon dioxide improves the processing of food and beverages by presenting a pristine and effectual method for carbonation and preservation. This further enhances product quality and duration of shelf life while promoting environmentally friendly and secure manufacturing processes. For example, the Agriculture and Agri-Food Canada, a government department based in Canada, reported that the exports of processed food and beverage items amounted to $54.3 billion in 2022, marking a surge of 14.1% from 2021. Consequently, the escalating demand for food and beverages is stimulating the upward mobility of the liquid carbon dioxide market.

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What Trends Will Shape the Liquid Carbon Dioxide Market Through 2029 and Beyond?
Companies who are leading the way in the liquid carbon dioxide market are finding innovative ways to efficiently store and transport their product. These breakthroughs, such as the development of liquid carbon dioxide carriers, help to decrease energy waste and ensure the maintenance of CO2 stability during long-distance shipping. A liquid carbon dioxide (CO2) Carrier represents a specially designed vessel, container or system which facilitates the transport of carbon dioxide in its liquid state under carefully regulated temperature and pressure conditions. Take, for example, Hyundai Mipo Dockyard Co. Ltd., a shipbuilding firm based in South Korea, who rolled out their liquefied carbon dioxide (LCO2) carrier in April 2025. Not only does it safely transport captured CO2 across vast distances for storage or use, but it also aids global decarbonization and carbon capture targets. With its high capacity, it significantly reduces transport costs and allows CO2 to be moved economically and flexibly compared to pipelines, particularly over distances surpassing 300 km.

What Are the Main Segments in the Liquid Carbon Dioxide Market?
The liquid carbon dioxide market covered in this report is segmented -

1) By Source Of Production: Natural Source, Synthetic Production
2) By Purity Level: Industrial Grade, Food Grade, Pharmaceutical Grade
3) By Distribution Channel: Direct Sales, Distributors, Online Sales, Retail
4) By Application: Food And Beverage Industry, Oil And Gas Industry, Medical And Healthcare, Chemical Manufacturing, Metallurgical Applications
4) By End-User: Industrial Manufacturing, Food Processing, Healthcare, Agriculture, Research And Development

Subsegments:
1) By Natural Source: Geothermal Wells, Volcanic Activity, Natural Carbon Dioxide Reservoirs
2) By Synthetic Production: Industrial Fermentation, Combustion Of Fossil Fuels, Chemical Processes

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Which Top Companies are Driving Growth in the Liquid Carbon Dioxide Market?
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

Which Regions Will Dominate the Liquid Carbon Dioxide Market Through 2029?
North America was the largest region in the liquid carbon dioxide market in 2024. 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, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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