# India Dry Ice Market

> India Dry Ice Market Size, Share, Industry Trend & Analysis 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

- **Forecast Period:** 2025 - 2035
- **CAGR:** 6.76%
- **2024:** $ 26.81 Million
- **2025:** $ 28.62 Million
- **2035:** $ 55.05 Million
- **Key Players:** Air Products and Chemicals Inc (US), Linde plc (IE), Praxair Inc (US), Matheson Tri-Gas Inc (US), Continental Carbonic Products Inc (US), Dry Ice Corp (US), Polar Ice (US), Cryo-Cell International Inc (US)

**Report ID:** MRFR/FnB/44985-HCR · **Pages:** 200 · **Author:** Harshita Gorde · **Last Updated:** April 06, 2026

**URL:** https://www.marketresearchfuture.com/reports/india-dry-ice-market-46669

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## Market Summary

## **India Dry Ice Market Overview**

As per MRFR analysis, the India Dry Ice Market Size was estimated at 27.39 (USD Million) in 2023.
The India Dry Ice Market Industry is expected to grow from 29.79(USD Million) in 2024 to 65 (USD Million) by 2035. The India Dry Ice Market CAGR (growth rate) is expected to be around 7.35% during the forecast period (2025 - 2035).

**Key India Dry Ice Market Trends Highlighted**

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.

**India Dry Ice Market Drivers**

**Growing Pharmaceutical and Biotech Industries**

The India Dry Ice Market Industry is experiencing significant growth, driven largely by the burgeoning pharmaceutical and biotechnology sectors. The Indian pharmaceuticals market was valued at approximately 42.4 billion USD in 2021 and is projected to reach 130 billion USD by 2030. This rapid expansion is fueling the demand for dry ice, which is pivotal in the safe transportation and storage of temperature-sensitive medications, vaccines, and biological samples. With the increasing focus on Research and Development (R) and the rising number of clinical trials, companies like Serum Institute of India and Biocon are intensifying the need for efficient cooling solutions.

According to the Ministry of Chemicals and Fertilizers, the Indian pharmaceutical sector is expected to grow at a rate of 11 to 12 percent annually, providing a substantial opportunity for the dry ice market, particularly for distributing mRNA vaccines and other therapeutics that require strict temperature controls.

**Expanding E-commerce and Food Delivery Sectors**

The exponential growth of e-commerce and food delivery services in India is significantly contributing to the expansion of the India Dry Ice Market Industry. The e-commerce market in India was estimated to reach 84 billion USD in 2021, driven by the pandemic and changing consumer habits. As online grocery and food delivery services proliferate, the need for efficient preservation of perishable items has augmented the demand for dry ice as a cooling agent.

Companies such as Zomato and BigBasket are increasingly utilizing dry ice solutions to ensure that food items remain frozen during transit, thereby enhancing product quality and customer satisfaction. The FSSAI's guidelines on food safety and preservation are also likely to drive the adoption of dry ice in the supply chain, reinforcing its importance in food logistics.

**Increasing Demand from the Hospitality Industry**

The hospitality sector in India is witnessing a resurgence, particularly following the pandemic. With the Indian government projecting a 7.5% growth in real GDP and the hospitality industry recovering rapidly, there is an increased demand for catering services that often require dry ice for presentation and preservation. High-end restaurants and catering companies are using dry ice for creating an enhanced dining experience, which has led to a higher adoption rate in event management and culinary applications.

This trend is bolstered by the growing number of weddings and large gatherings in India, providing a robust market for dry ice suppliers to cater to this expanding need.

**India Dry Ice Market Segment 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**

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.

**India Dry Ice Market 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 Include:**

**India Dry Ice Market 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.

**Dry Ice Market Segmentation Insights**

**Dry Ice Market Dry Ice Type Outlook**

**Dry Ice Market Dry Ice Application Outlook**

- Food Beverages
- Storage Transportation
- Healthcare
- Industrial Cleaning

## Market Drivers

### Expansion of Cold Chain Logistics

The expansion of cold chain logistics in India is a pivotal driver for the dry ice market. As the demand for temperature-sensitive products increases, particularly in the food and pharmaceutical sectors, the need for effective cooling solutions becomes paramount. The cold chain logistics industry is projected to grow at a CAGR of approximately 20% over the next few years, which directly correlates with the rising consumption of dry ice. This growth is fueled by the increasing number of refrigerated transport vehicles and storage facilities. Consequently, the dry ice market is likely to experience heightened demand as businesses seek reliable methods to maintain product integrity during transit. The ability of dry ice to provide consistent low temperatures makes it an ideal choice for logistics providers, thereby enhancing its market presence in India.

### Growth in the Pharmaceutical Sector

The growth in the pharmaceutical sector in India is a crucial driver for the dry ice market. With the increasing production of vaccines, biologics, and other temperature-sensitive medications, the need for reliable cooling solutions is more pronounced than ever. The pharmaceutical industry in India is projected to reach $130 billion by 2030, indicating a robust demand for dry ice as a means of maintaining the efficacy of these products during storage and transportation. Dry ice is particularly valuable for shipping vaccines, which often require ultra-low temperatures. Consequently, the dry ice market is likely to expand as pharmaceutical companies seek dependable methods to ensure the integrity of their products throughout the supply chain.

### Rising Awareness of Food Safety Standards

Rising awareness of food safety standards among consumers and regulatory bodies is driving the dry ice market in India. As food safety regulations become more stringent, businesses are compelled to adopt better preservation methods to comply with these standards. The Food Safety and Standards Authority of India (FSSAI) has implemented guidelines that necessitate the use of effective cooling solutions for perishable items. This regulatory environment is likely to propel the demand for dry ice, as it is recognized for its ability to maintain low temperatures and prevent spoilage. The dry ice market is thus expected to see increased adoption across various sectors, including food processing and distribution, as companies strive to meet compliance requirements while ensuring product quality.

### Surge in E-commerce and Online Food Delivery

The surge in e-commerce and online food delivery services in India is significantly impacting the dry ice market. With the increasing consumer preference for home delivery of perishable goods, companies are investing in efficient packaging solutions to ensure product quality. The online food delivery market is expected to reach a valuation of over $20 billion by 2025, which suggests a substantial increase in the need for effective cooling agents like dry ice. This trend is particularly relevant for businesses dealing with frozen foods, dairy products, and other perishables that require stringent temperature control. As a result, the dry ice market is poised to benefit from this shift, as more companies adopt dry ice to maintain the freshness and safety of their products during delivery.

### Technological Innovations in Dry Ice Production

Technological innovations in dry ice production are emerging as a significant driver for the dry ice market in India. Advances in production techniques, such as the use of automated systems and improved manufacturing processes, are enhancing the efficiency and cost-effectiveness of dry ice production. These innovations are expected to lower production costs, potentially leading to reduced prices for end consumers. As the dry ice market becomes more competitive, these technological advancements may facilitate wider adoption across various sectors, including food, pharmaceuticals, and logistics. Furthermore, the ability to produce dry ice in larger quantities and with higher purity levels could meet the growing demand from industries that require stringent quality standards.

## Future Outlook

The [Dry Ice Market](https://www.marketresearchfuture.com/reports/dry-ice-market-8610) in India is projected to grow at a 6.76% CAGR from 2025 to 2035, driven by rising demand in food preservation, pharmaceuticals, and logistics.

**New opportunities:**

- Expansion of dry ice production facilities in strategic locations Development of eco-friendly dry ice alternatives Implementation of automated dry ice handling systems for efficiency

By 2035, the dry ice market is expected to achieve robust growth and increased market penetration.

## Segment Insights

### By Type: Pellets (Largest) vs. Blocks (Fastest-Growing)

In the India dry ice market, the segment values are prominently distributed among pellets, blocks, and other types. Pellets hold the largest share, primarily due to their versatility in applications such as food preservation and shipping. Blocks, while sharing a notable portion of the market, are recognized for their rapid growth trend owing to increased demand in the logistics sector and large-scale industrial applications. Other types of dry ice are less significant in terms of market share but still contribute to niche applications and customer preferences.

The growth trends for this segment are driven by the rising demand for effective cooling solutions across various industries. With the food and beverage sector increasingly relying on dry ice for transportation and preservation, pellets are expected to maintain their dominant position, while blocks are anticipated to grow faster, propelled by trends such as e-commerce and online food delivery services. Furthermore, innovations in production processes may enhance the availability and efficiency of both segments, catering to evolving market needs.

Pellets: Dominant vs. Blocks: Emerging

Pellets are characterized by their small, uniform size and are ideal for automated cooling systems, making them a dominant force in the India dry ice market. Their effectiveness in maintaining low temperatures over extended periods renders them indispensable for industries like food service, healthcare, and logistics. On the other hand, blocks are emerging as a popular alternative, particularly for companies requiring longer-lasting cooling solutions for bulk shipping. While pellets are widely used in daily operational processes, blocks are often preferred for larger shipments and long-distance transport, fueling their impending growth in the market. The evolving demands for both forms of dry ice underscore the diverse applications and continuous innovation in the industry.

### By Application: Food & Beverages (Largest) vs. Healthcare (Fastest-Growing)

The India dry ice market showcases a diverse application landscape, with the Food & Beverages segment commanding the largest share due to the rising demand for frozen food preservation and transportation. This segment benefits from the increasing preference for ready-to-eat meals and the booming culinary sector, contributing significantly to dry ice consumption. Following closely, the Healthcare sector is leveraging dry ice for transportation of temperature-sensitive medical supplies, making it a pivotal part of the market, especially as the healthcare infrastructure expands.

Growth trends reflect the resilience of the Food & Beverages segment while indicating rapid expansion in the Healthcare sector. This emerging trend for healthcare highlights the importance of maintaining temperature thresholds for biological samples and pharmaceuticals, boosting dry ice utilization. Factors such as urbanization, changing consumer preferences towards convenience foods, and heightened healthcare standards are the underlying drivers for growth across these segments, positioning the India dry ice market for sustained demand in the forecasted period.

Food & Beverages (Dominant) vs. Healthcare (Emerging)

The Food & Beverages segment remains the dominant force in the India dry ice market, leveraging its extensive use in preserving the quality and safety of perishable goods during storage and transportation. This segment thrives on the rising consumer trend towards frozen products, which necessitates reliable cold chain solutions. On the other hand, the Healthcare segment is marked as an emerging force, increasingly adopting dry ice for critical applications such as the storage of vaccines and sensitive medical samples. This evolving use case is a response to the growing need for stringent temperature control within healthcare logistics, indicating a shift in how dry ice is perceived and utilized across various sectors.

## Competitive Benchmarking

The dry ice market in India is characterized by a competitive landscape that is increasingly shaped by innovation, sustainability, and strategic partnerships. Key players such as Air Products and Chemicals Inc (US), Linde plc (IE), and Praxair Inc (US) are actively pursuing strategies that emphasize technological advancements and operational efficiencies. These companies are not only focusing on expanding their production capabilities but are also investing in sustainable practices to meet the growing demand for environmentally friendly solutions. The collective efforts of these firms contribute to a dynamic market environment where competition is not solely based on price but also on the ability to deliver high-quality, reliable products. In terms of business tactics, companies are localizing manufacturing to reduce logistics costs and enhance supply chain efficiency. The market structure appears moderately fragmented, with several players vying for market share. However, the influence of major companies is significant, as they set benchmarks for quality and service standards. This competitive structure encourages smaller firms to innovate and adapt, thereby fostering a more vibrant market ecosystem. In October 2025, Linde plc (IE) announced the opening of a new dry ice production facility in Maharashtra, aimed at enhancing its supply chain capabilities in the region. This strategic move is likely to bolster Linde's market presence and improve service delivery to its customers, particularly in the food and healthcare sectors, where dry ice is essential for preserving temperature-sensitive products. The establishment of this facility underscores Linde's commitment to meeting local demand while optimizing operational efficiencies. In September 2025, Air Products and Chemicals Inc (US) launched a new line of eco-friendly dry ice products, which are produced using renewable energy sources. This initiative not only aligns with The dry ice market. The introduction of these products may attract environmentally conscious consumers and businesses, thereby enhancing the company's competitive edge. In August 2025, Praxair Inc (US) entered into a strategic partnership with a leading logistics company to enhance its distribution network across India. This collaboration is expected to streamline operations and improve delivery times, which are critical factors in the perishable goods market. By leveraging the logistics expertise of its partner, Praxair aims to strengthen its market position and provide superior service to its clients. As of November 2025, the competitive trends in the dry ice market are increasingly influenced by digitalization, sustainability, and the integration of advanced technologies such as AI. Strategic alliances are becoming more prevalent, as companies recognize the need to collaborate to enhance their capabilities and market reach. Looking ahead, it appears that competitive differentiation will evolve, with a shift from traditional price-based competition to a focus on innovation, technology, and supply chain reliability. This transition may redefine the competitive landscape, compelling companies to invest in research and development to stay ahead. The role of cold chain logistics dry ice India is becoming increasingly vital as supply chains expand to accommodate temperature-sensitive products like frozen food, pharmaceuticals, and biologics. Dry ice is widely used in cold chain distribution for its ability to maintain ultra-low temperatures without liquid residue, ensuring integrity during transit and storage across long-distance domestic and international routes. 

## Recent News & 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.

## Report Scope

| MARKET SIZE 2024 | 26.81(USD Million) |
| --- | --- |
| MARKET SIZE 2025 | 28.62(USD Million) |
| MARKET SIZE 2035 | 55.05(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 6.76% (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 | Air Products and Chemicals Inc (US), Linde plc (IE), Praxair Inc (US), Matheson Tri-Gas Inc (US), Continental Carbonic Products Inc (US), Dry Ice Corp (US), Polar Ice (US), Cryo-Cell International Inc (US) |
| Segments Covered | Type, Application |
| Key Market Opportunities | Growing demand for sustainable packaging solutions drives innovation in the dry ice market. |
| Key Market Dynamics | Rising demand for dry ice in food preservation and logistics drives market growth amid evolving regulatory standards. |
| Countries Covered | India |

## Frequently Asked Questions

**Q: What is the current valuation of the dry ice market in India as of 2024?**
A: The overall market valuation was $26.81 Million in 2024.

**Q: What is the projected market valuation for dry ice in India by 2035?**
A: The projected valuation for 2035 is $55.05 Million.

**Q: What is the expected CAGR for the India dry ice market during the forecast period 2025 - 2035?**
A: The expected CAGR for the market during this period is 6.76%.

**Q: Which companies are the key players in the India dry ice market?**
A: Key players include Air Products and Chemicals Inc, Linde plc, Praxair Inc, and Matheson Tri-Gas Inc.

**Q: What are the main types of dry ice products available in the Indian market?**
A: The main types include pellets, blocks, and other types, with pellets valued at $10.0 - $20.0 Million and blocks at $12.0 - $25.0 Million.

**Q: What applications are driving the demand for dry ice in India?**
A: Key applications include food & beverages, storage & transportation, and healthcare, with food & beverages valued at $8.04 - $16.5 Million.

**Q: How does the storage and transportation segment perform in the dry ice market?**
A: The storage & transportation segment was valued at $7.15 - $14.5 Million.

**Q: What is the valuation range for the healthcare application of dry ice in India?**
A: The healthcare application is valued between $5.0 - $10.0 Million.

**Q: What is the valuation for other types of dry ice in the Indian market?**
A: Other types of dry ice are valued between $4.81 - $10.05 Million.

**Q: How does the industrial cleaning segment contribute to the dry ice market?**
A: The industrial cleaning segment contributes a valuation range of $3.0 - $6.0 Million.


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