The Europe Carbon Dioxide Market would witness market growth of 4.6% CAGR during the forecast period (2023-2030). In the year 2020, the Europe market's volume surged to 3,376.67 kilo tonnes, showcasing a growth of 2.0% (2019-2022).
One primary use of gaseous CO2 is in the food and beverage industry for carbonation, where it is injected into beverages like soda and beer to create the desired level of effervescence. Additionally, gaseous CO2 is utilized in food processing and packaging to extend the shelf life of perishable goods by creating a modified atmosphere that inhibits microbial growth and oxidation. Its inert nature makes it ideal for displacing oxygen and maintaining product freshness without altering taste or texture. Therefore, the Germany Market would consume 395.64 Kilo Tonnes in the market in 2030.
The Germany market dominated the Europe Carbon Dioxide Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $602.5 Million by 2030. The UK market is exhibiting a CAGR of 3.7% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.4% during (2023 - 2030).
Advances in carbon storage and sequestration technologies enable the safe and permanent storage of CO2 underground, preventing its release into the atmosphere. Innovations in geological storage methods, monitoring techniques, and regulatory frameworks enhance the reliability and effectiveness of carbon sequestration projects. Carbon capture and storage (CCS) initiatives are crucial in decarbonizing industrial processes, power generation, and other emission-intensive activities.
Moreover, a circular economy promotes the reuse, recycling, and repurposing of materials, including CO2, to minimize waste and maximize resource efficiency. Innovations in carbon recycling leverage CO2 as a feedstock for producing renewable fuels, chemicals, plastics, and building materials. Circular economy concepts guide the development of closed-loop technologies that reduce carbon emissions and support sustainable resource management.
The food and beverage industry in the UK relies heavily on CO2 for carbonation, particularly in producing carbonated beverages. As per the data from the Government of the United Kingdom regarding gross value added (GVA), beverages were the largest manufacturing category, with a value of £6.5 billion in 2021. It contributed 21.4% to the total food and drink manufacturing GVA. As per the Eurostat, 2020 revealed a substantial presence of 291,000 food and beverage (F&B) processing enterprises in the European Union (EU), constituting 14.1% of all manufacturing enterprises. Therefore, the region’s growing food and beverage sector drives the market’s growth.
Free Valuable Insights: The Global Carbon Dioxide Market will Hit USD 14.9 Billion by 2030, at a CAGR of 4.9%
Based on Application, the market is segmented into Food & Beverages, Oil & Gas, Medical, Rubber, Firefighting, and Others. Based on Form, the market is segmented into Liquid, Gas, and Solid. Based on Source, the market is segmented into Ethyl Alcohol, Hydrogen, Ethylene Oxide, Substitute Natural Gas, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Application (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Form (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Source (Volume, kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, kilo Tonnes, USD Billion, 2019-2030)
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