Global Oxygen Scavengers Market Size By Type (Metallic ,Non-metallic), By End-User (Chemicals, Food and Beverage, Pharmaceuticals), By Geographic Scope And Forecast
Report ID: 337912|No. of Pages: 202
Global Oxygen Scavengers Market Size By Type (Metallic ,Non-metallic), By End-User (Chemicals, Food and Beverage, Pharmaceuticals), By Geographic Scope And Forecast
Oxygen Scavengers Market Size And Forecast
Oxygen Scavengers Market size was valued at USD 2.1 Billion in 2022 and is projected to reach USD 3 Billion by 2030, growing at a CAGR of 5% from 2024 to 2030.
The increasing demand for fresh and good quality packaged food among consumers worldwide is estimated to exceed the market demand in the future. Rising concerns about food wastage and safety concerns around the world are projected to act as critical drivers for the Global Oxygen Scavengers Market. The Global Oxygen Scavengers Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Oxygen Scavengers Market Definition
Oxygen scavengers absorb air trapped inside sealed packaging. These are frequently used during packing to prevent spoiling, mold growth, color changes, rancidity, loss of nutritional content, and a reduction in the quality of the final product. These scavengers prolong the product’s shelf life while preserving the original food quality. Oxygen scavengers guard against the rancidification of polyunsaturated fats and oils, the oxidation of vitamins A, C, and E, the growth of aerobic pathogens and food spoilage organisms, and the non-enzymatic browning of fruits and vegetables.
The use of oxygen scavengers improves the health of commodities. Thus, the market’s growth is being fueled by these factors. New packaging technologies, such as active packaging, intelligent packaging, and engineering science, that have evolved through time now allow for the more flexible wrapping of fresh food goods. Businesses utilize biodegradable packaging materials that may be recycled, rejuvenated, and reused to create environmentally friendly packaging. Fresh food packaging also provides security, safety, and resistance to bacteria and diseases.
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Global Oxygen Scavengers Market Overview
The Oxygen Scavengers Market has grown significantly over the last several decades, fueled by increased packaged food consumption and rising disposable incomes in emerging nations. Oxygen scavengers are frequently employed in pharmaceutical and food and beverage packaging to reduce oxygen levels. Freshly produced foods’ shelf lives are extended by oxygen scavengers while their flavors, aromas, colors, and nutritional value are maintained. Consumers opt to purchase more packaged food due to shifting lifestyles, increased disposable incomes, and the convenience of packaged items.
Major firms in the sector are continuously working to develop technology to provide better products and work more effectively. It is projected that the need for oxygen scavengers will rise as their application expands in the food and beverage sector. Additionally, producers must adhere to various rules and regulations established by regional authorities. However, there aren’t many health risks connected to using oxygen scavengers. The health of people may be endangered by increased exposure to or ingestion of raw materials like hydrazine, carbon, or iron oxide.
Global Oxygen Scavengers Market Segmentation Analysis
The Global Oxygen Scavengers Market is segregated based on Type, End-User, And Geography.
Oxygen Scavengers Market, By Type
- Metallic
- Non-metallic
Based on Type, the market is segmented into metallic and non-metallic. Iron powder, bisulfite ions, sodium bisulfite, and metal halides are some metallic oxygen scavengers with metal content. The application of these scavengers to stop wastage, mold growth, and color change is anticipated to drive growth for the market.
Oxygen Scavengers Market, By End-User
- Chemicals
- Food and Beverage
- Pharmaceuticals
- Oil and Gas
Based on End-User, the market is segmented into chemicals, food and beverages, pharmaceuticals, and oil & gas. The food and beverage segment is expected to take the highest share in the market owing to the rising use of oxygen scavengers in the food and beverage industry to stretch the life of the products and commodities.
Oxygen Scavengers Market, By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
Based on Geography, the Global Oxygen Scavengers Market is divided into Asia Pacific, North America, the Middle East, Europe, and Latin America. North America is anticipated to own the highest market share due to the rising demand and consumption of packaged foods. Various food safety standards regulatory bodies create are expected to support market growth.
Key Players
The “Global Oxygen Scavengers Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Arkema, Baker Hughes, Accepta Ltd., Angus Chemical Company, Eastman Chemical Company, BASF SE, Clariant Inc., Desiccare, Inc., Ecolab Inc., Innospec Inc., Henkel AG & Co. KGaA, Kemira, Multisorb Technologies Inc., and others.
Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
Key Developments
- In July 2020, PolyOne Corporation, an American polymer materials company, acquired Clariant and its masterbatch business. This acquisition integrated formed Avient, a firm that will offer all better solutions to clients.
Ace Matrix Analysis
The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.
Market Attractiveness
The image of market attractiveness provided would further help to get information about the region that is majorly leading in the Global Oxygen Scavengers Market. We cover the major impacting factors that are responsible for driving the industry growth in the given region.
Porter’s Five Forces
The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Global Oxygen Scavengers Market, gauge the attractiveness of a certain sector, and assess investment possibilities.
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Data Collection Matrix
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Econometrics and data visualization model
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Industry Analysis Matrix
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