Liquid carbon dioxide market projected to hit $9.23 billion by 2030

The Business Research Company says the liquid carbon dioxide market is expanding on stronger demand from food and beverage, industrial, cooling and carbon capture uses. The market is forecast to rise from $6.54 billion in 2025 to $9.23 billion by 2030 as North America leads and Asia-Pacific accelerates.

Why it matters: - Liquid carbon dioxide is used across food and beverage, manufacturing, refrigeration, extraction and fire suppression, so growth in this market tracks wider industrial activity. - The market’s expansion also reflects rising interest in carbon capture, utilization and storage, which could increase available feedstock and support lower-emission industrial processes.

What happened: - The Business Research Company released a market study on the global liquid carbon dioxide market on June 11, 2026. - The report estimates the market will grow from $6.54 billion in 2025 to $7.02 billion in 2026. - The study projects the market will reach $9.23 billion by 2030. - The report puts the 2025-2026 growth rate at 7.3% and the 2026-2030 compound annual growth rate at 7.1%. - Download a free sample of the report. - View the full market report.

The details: - Liquid carbon dioxide is the pressurized, cooled form of carbon dioxide gas and appears as a colorless, odorless liquid. - The material is used as a solvent, refrigerant and fire suppression agent. - Food and beverage demand is a major growth driver because liquid CO₂ is used for carbonation, refrigeration and preservation. - Rising carbonated beverage production is increasing demand for food-grade carbon dioxide. - Industrial demand is growing for welding and shielding applications. - Cryogenic CO₂ is gaining use in cooling and refrigeration. - Supercritical CO₂ is being adopted for extraction and cleaning. - CO₂ capture and purification technologies are improving supply and product quality. - The forecast to 2030 is supported by more use of supercritical CO₂ in eco-friendly extraction and processing. - Precision cooling needs in electronics and industrial machinery are adding demand. - Clean-agent CO₂ fire suppression systems are expanding use cases. - Expanding CCUS infrastructure is increasing the availability of feedstock. - Technological improvements are lifting liquefaction efficiency and purity standards. - Statistics Canada reported in June 2025 that food and beverage sales accounted for nearly 25% of total retail spending in Canada in 2024. - Statistics Canada also reported a 1.8% increase in food and beverage retailer sales in 2024 and an 8.9% rise in food sales at general merchandise retailers. - The report covers Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa.

Between the lines: - North America held the largest share of the market in 2025, pointing to an established industrial base and broad end-market demand. - Asia-Pacific is expected to be the fastest-growing region, driven by industrialization, food and beverage expansion and infrastructure spending. - The report’s emphasis on CCUS and supercritical CO₂ suggests the market is shifting from traditional industrial use toward lower-carbon processing and specialized applications. - The company’s 2026 report package adds market attractiveness scoring, TAM analysis, company scoring matrix graphics, Excel-based forecasting dashboards, market hotspots infographics and updated trend analysis.

What’s next: - Market growth will likely hinge on continued beverage demand, industrial adoption of CO₂-based processes and broader deployment of CCUS infrastructure. - The Business Research Company says future gains will also depend on liquefaction efficiency gains and tighter purity standards. - The company says its Global Market Model is designed to support updated forecasting and decision-making across industries and regions.

The bottom line: - Liquid carbon dioxide is moving from a niche industrial input to a broader growth market tied to food, manufacturing and cleaner processing technologies.