The Carbon Dioxide Market Grows With Intensified Demand For Frozen Food During The Pandemic
November 26, 2021
The Business Research Company’s Carbon Dioxide Market 2021 – Opportunities And Strategies – Global Forecast To 2030
LONDON, GREATER LONDON, UK, November 26, 2021 /EINPresswire.com/ -- The carbon dioxide market in the forecast period is expected to be supported by the growing demand for frozen food. Carbon dioxide is used as an integral part for storing and transporting frozen food, hence, the growing demand for frozen food is in turn supporting the carbon dioxide market. Carbon dioxide allows rapid cooling of food to help reduce contamination risks and preserve food quality. The major factors driving the demand for frozen food includes the introduction of longer-shelf-life products and an increase in the working population worldwide. This demand for frozen food intensified during the pandemic. According to a study by the German Frozen Food Institute, one third of surveyed households confirmed that their uses of frozen products had intensified during the government mandated lockdowns. This can be attributed to the longer shelf life of frozen food. Thus, growing demand for frozen food is expected to support the demand for the carbon dioxide market.
The global carbon dioxide market size reached a value of nearly $9.68 billion in 2020, having increased at a compound annual growth rate (CAGR) of 4.94% since 2015. The market is expected to reach $11.26 billion by 2025, and $12.71 billion by 2030.
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Companies in the carbon dioxide industry are focusing on the use of separation technology. The technology is based on using the CO2 emitted across various production processes to be further cleaned to ensure that it is available for further use. For example, the partnership between Carbon Clean and LafargeHolcim aims at capturing the CO2 emitted through the cement production process that will be further transformed, cleaned and reused locally.
Read more on the global carbon dioxide market report
Asia Pacific was the largest region in the global carbon dioxide market, accounting for 40.1% of the total in 2020. It was followed by North America, Western Europe, and then the other regions. Going forward, the fastest-growing regions in the carbon dioxide market will be Middle East and Africa, where growth will be at CAGRs of 7.0% and 4.0% respectively. These will be followed by the Asia Pacific and Eastern Europe where the markets are expected to grow at CAGRs of 3.6% and 3.5% respectively.
Major players covered in the global carbon dioxide industry are Linde PLC, Air Products and Chemical, Inc., Air Liquide, The Messer Group GmbH, Nippon Sanso Holdings Corporation.
TBRC’s global carbon dioxide market report is segmented by product type into liquid carbon dioxide, solid carbon dioxide, gaseous carbon dioxide, by application into food & beverages, oil & gas, medical, rubber, firefighting, others, by source into hydrogen, ethyl alcohol, ethylene oxide, substitute natural gas, others.
Carbon Dioxide Market 2021 - By Type (Liquid Carbon Dioxide, Solid Carbon Dioxide, Gaseous Carbon Dioxide), By Application (Beverages, Food, Metal Products, Oil and Gas, Medical , Chemical, Firefighting), By Grade Type (Medical Grade, Food Grade, Industrial Grade), And By Region, Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides carbon dioxide market overview, forecast carbon dioxide market size and growth for the whole market, carbon dioxide market segments, and geographies, carbon dioxide market trends, carbon dioxide market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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